Austin i3 bev owners choice w/flex

[Schnort]

base model, only 'heated seats' as an option.

Apparently, this one was a loss leader, as they offered it at $1500 down, $199/mo for 2yr & 20K miles, with $350 acquisition fee at turn in. With the Texas $2500 alternative fuel vehicle rebate...

...total cost of ownership over two years: $1500 + $200*24 +$350 -$2500 = $4150, or ~$175/mo.

If I factor out the cost of gasoline I was spending, it's more like ~$110/mo
If I factor out the cost of repairs my 10 yr old car with a turbo was imminently going to cost me, it's more like $0/mo.

Then if I count the money I got selling that 10 yr old car, I'm actually being paid ~$200/mo to drive a new BMW for two years.

Quite a change from the thought of $700/mo leases a year ago.

 

[ATXMARC]

Sounds great to me...need more of these in austin...can't spit without hitting a tesla

 

[ryandesign]

This offer is no longer listed on their web site, but I looked into it too. The offer was actually:

• $995 acquisition fee
• +$150 doc fee
• +$52.75 license fee
• +$5 cap fee
• +$1500 down
• +$199 per month ✕ 24 months
• +6.25% tax on the selling price
• -$625 Texas EV rebate ✕ 2 years of lease
• +$350 disposition fee at lease end

The MSRP on a 2014 i3 with heated seats is $43,200 but BMW of Austin adds a $99 charge to all their i3s for nitrogen in the tires, bringing the total to $43,299. $3000 off seems to be their opening offer, so let's assume the selling price is $40,299. So the total cost of ownership over 2 years is:

$995 + $150 + $52.75 + $5 + $1500 + ($199 ✕ 24) + (0.0625 ✕ $40,299) - (2 ✕ $625) + $350 = $9097.44, or $379.06 per month.

Still not bad, but having to pay the tax on the full selling price (required by Texas law) makes leases pretty unattractive here. Owners Choice seems like a better bet for us, since you own the car, not the leasing company, so you get to claim the full $7500 federal tax credit (assuming you will owe at least that much tax) and the full $2500 Texas EV rebate.

 

[Schnort]

I think I got their demo model (it had 500-ish miles on it), and they discounted it ~$6300.

It was bought with owners choice + flex. It literally was $1500 down at closing everything else was financed, $199/mo for 24 months with a balloon payment of ~$34K. Return the car + $7500 (the federal tax credit) + $350 acquisition fee, assuming normal wear and tear and no more than 20K miles, and BMW financial guarantees the residual +$7500 is equal to the balloon payment. The state credit is mine to keep.

And that's it.