Leasing new 2018 model vs buying 2016 model

[i3Houston]

If you prefer to buy, like me, buy one with REX at least, i have rarely used rex but with it I can drive any distance( should i switch job i dont have to change car!! ). The car will go at least 100 miles in before refueling or recharging in extreme hot/cold weather. I think that makes i3 Rex pretty future proof.

I bought a 2015 i3 Rex Giga+all options with 13K miles on it for little over $20K. I had dealer do the oil change etc. Tires looked good. Ones without Rex were about $2k less at least.

The next service is scheduled is March 2020, that i really like. So far only Oil sensor had been replaced under warranty(common problem in 2015 i3 rex) BMW sent a letter that they will cover that part for next 10 years/120K miles, which was nice surprise.

Pay attention to when your car was manufactured, after mid 2015 have less or no issues unlike 2014.
My i3 is model year 2015, its was first sold in dec 2015 and that is when the warranty started, so it will carry bumper to bumper warranty until 2020 dec.

Good luck!

[davidc18]

Just picked up a 2016 BEV with just over 10,000 miles. The range is not an issue for us as all of our driving is local. We have a level 2 charger at home and there are many local charging options.

[JCPLA]

do you mind if i asked how much you paid for the 2016 BEV? I am also in the market for one.

although I am having some trouble deciding whether to get a new 2018 or an used 2016. I was going to get a super low mileage (6000 miles!) 2016 for about 20k, Preowned, not CPO, until I discovered the Costco Auto Program that now in California, BMW offers 10k the sticker price. (supposedly if you are a Costco member you pay Invoice too). Plus the 10k EV tax rebate...with the discounts it currently offers makes it very enticing to consider a new model.

2018: MSRP 51500; Invoice 48500 - 10000 (dealer) - 10000 (EV rebate) = 28500 + 4000 (tax) = 32500 + fees and regist.
2016: 20000 + 2100 (tax) = 21200 + fees and regist

My inclination is to get the used in the meanwhile while waiting on other newer EVs coming out in the next couple of years (driving a Leaf now). But the new one sounds just too good to pass up. Although base on the currently massive depreciation rate of the i3 it might be a bad investment even for 2 years, wheras the 2016 model could go down to 14k by 2020...But with 11k difference I will get a new car; 40 extra miles per charge and all other new things it come with. The only hesitation for the 2016 model is that it is not a CPO and for some, reason it's been sitting on the lot for a couple of months while other cars (CPOs) and lower price but higher mileages were being sold.

Can any of you offer your insight, please?
Thank you!
JCPLA

[jadnashuanh]

One thing that has depressed all EVs' resale is the federal tax credit of $7500 (although, not everyone will qualify, unlike a rebate). So, the decision to buy new verses a used one where a new one automatically gets a fairly big discount means the used one's price will be lower. But, unless things are changed, at least two manufacturers federal tax credits volume limits have or will be reached (Tesla and GM), meaning, unless extended, people will start to see their out of pocket cost go up, which, I think, will be reflected in rising prices for their used products. But, also consider that more states may jump in to offer rebates, but you can't count on that. I'm not sure how far behind say Nissan and BMW are. Nissan's EV have been available for longer, but not sure about the total delivered in the USA. The i3 and i8 aren't huge sales, but BMW does offer other plug-in hybrids, so their time may be up in the next year or so before it starts to taper off (hopefully, not before I buy my next one!).

[i3Houston]

The only hesitation for the 2016 model is that it is not a CPO and for some, reason it's been sitting on the lot for a couple of months while other cars (CPOs) and lower price but higher mileages were being sold.

Can any of you offer your insight, please?
Thank you!
JCPLA

Ask the dealer the cost to get it CPO if that's the concern. It should be 2k -$3k. Sometime Dealer try to sell non-cpo/as is since out the door cost is less.

Also the car will be under bumper to bumper warranty for 4year/50K miles. If 2016 is sold late in the year, warranty will also be until late 2020.

Both used and new will depreciate, BEVs will depreciate much faster than Rex as time goes, something to keep in mind.

There was an article that said BMW will stop producing i3s in couple years, all i3s depreciate then!!

My advise would be to continue driving Leaf(a solid EV) for another year if you can and next year many many choices will be available to pick from. Easier said then done though!!!

[JCPLA]

Nice, I think you hit the nail on the head. I was secretly hoping someone would just tell me to keep on driving the LEAF for another year or two...My leaf is paid off and the battery is still in excellent shape. I do not really need to upgrade. But it is one of those "WANT" vs "NEED" scenario. Although I am afraid that stock might come down and I wanted to at least secure a new ride by selling off some stocks..You see how every decision made is inter-connected?

[i3Houston]

Yes indeed! Hang in there!!

[jadnashuanh]

I tend to keep my cars until either they piss me off, or I get really bored. I try to do enough research so I don't end up with a dud. As to the first, the few I've dumped started to either cost me more than I felt they should have, or had a feature that wasn't apparent during the test rides or in the reviews (case in point, an Infiniti M35x...lousy sound attenuation that just was plain annoying on a long trip and horrible paint prep - a stone chip causes craters as the paint lost adhesion from the surface). I'd like one car that could take me for a long trip without having to stop to find a charging opportunity but also be able to run around for my normal stuff that didn't need to use gasoline. To achieve that today, I have two cars. I'm sort of hoping the new X5e may fill that bill late next year when it comes out, but will have to see what else may show up in the interim.

[Wakarisu]

I think buying is always better than leasing or renting. Because buying something, you get the opportunity not only to use it as much as you need. You can then sell it and get some of your money back. For example, at the age of 25, I took out a mortgage. I paid it off at the age of 35, and until retirement, I lived in this house without paying rent. Now I'm 65, and I used a reverse mortgage to get extra money for living. In my opinion, everything I have described can be applied to the purchase of any other expensive item.