The BMW i3 Lease Deal You Want: $499/month, $549 For The REx

3 years ago by Jay Cole 29

BMW National Lease Deal On i3 From $499/Month

BMW National Lease Deal On i3 From $499/Month

When the BMW i3 was announced and then priced, the ‘next’ burning question was “what will it lease for?” – as the majority of plug-in vehicles in United States (that aren’t Teslas) are leased.

BMW i3 BEV Window Sticker

BMW i3 BEV Window Sticker

Unfortunately, that answer was not immediately forthcoming; then early potential BMW i3 owners were getting extraordinarily high quotes from their dealers, some near $1,000/month.

Why was this happening, and would the BMW i3 ever be affordable to the masses?

It turned out there was a lot of misinformation out there and BMW’s own finance department wasn’t making it easy for anyone to understand.  Also in play was BMW initial low-balling of the residual values on the i3 (originally set at 39% on a 3 year lease).

Today, BMW has got all its ducks in a line (except for still only offering the consumer $4,875 of the $7,500 federal credit as most OEMs do) and has a pretty decent national lease offer on both the fully electric i3 and the i3 REx, along with a strong finance deal.

BMW i3 Lease and Finance deals:

  • $499 month (w/$2,950 down) 36 month lease on base BMW i3 ($41,350)
  • $549 month (w/$3,460 down) 36 month lease on base BMW i3 REx ($45,200)
  • 2.99% financing (3 years), 3.49% (up to 5 years)

So, good enough to get your business?

Ye Olde Fine Print (click to enlarge)

Ye Olde Fine Print (click to enlarge)

Even more fine…fine print:

*Lease financing available on 2014 BMW i3 vehicles, only at participating BMW i centers on leases assigned to BMW Financial Services NA, LLC/Financial Services Vehicle Trust through June 02, 2014. $4,875 Lease Credit will be applied as a Capitalized Cost Reduction on the lease of a BMW i3 with BMW Financial Services through June 02, 2014. Monthly Lease payments of $499.00 for 36 months based on MSRP of $43,175.00. Vehicle may need to be ordered. Total Lease payments are $17,964. Excludes tax, title, license and registration fees. Program available to qualified customers and not everyone will qualify. Subject to credit approval. See participating dealer for details. Dealer contribution may affect terms. Lessee must cover insurance and all items not covered under the BMW Maintenance Program. At lease end, lessee will be liable for disposition fee ($350.00), any excess wear and use as set forth in the lease agreement and excess mileage charges of $0.20 per mile for miles driven in excess of 30,000 miles. Purchase option at lease end for $19,860.50 excludes taxes. Lessee acquires no ownership interest unless purchase option is exercised. See participating BMW centers for details and vehicle availability. For more information call 1-800-334-4269. Special lease rates and pricing may not be reflected throughout www.bmwusa.com. All figures presented are estimates only. Actual selling price may vary. Please see your BMW center for details. Ultimate Service covers all factory recommended maintenance on all new vehicles, as determined by the Service Level Indicator, for 4 years or 50,000 miles, whichever comes first. Exclusions from coverage: gasoline, gasoline additives, windshield washer additives, tires, wheels, wheel alignment, tire balancing and rotation. All work must be performed by an authorized BMW center. See the Service and Warranty information booklet for more details and specific terms, conditions and limitations. ©2014 BMW of North America, LLC. The BMW name, model names and logo are registered trademarks.

Hat tip to Tom! (of course)

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29 responses to "The BMW i3 Lease Deal You Want: $499/month, $549 For The REx"

  1. Jay Cole says:

    Apologies on the comment functionality malfunctioning earlier this morning, all good now!

  2. GeorgeS says:

    BMW:
    “$4,875 Lease Credit will be applied as a Capitalized Cost Reduction on the lease ”

    Good article Jay.

    So this 4875$ is not really a cap cost reduction it is part of the 7500$ fed rebate??

    Why not the full $7500??

    1. Jay Cole says:

      Yes, the $4,875 is derived from the $7,500 fed credit program.

      BMW insists that it can’t apply the entire $7,500 inside the lease due to US corporate tax reasons ie) they would be ‘eating’ the balance.

      As a point of interest, we have never heard of this reality (or this specific ‘breakeven’ number – $4,875) from any of the other OEMS however.

  3. kdawg says:

    A bit too pricey IMO. At $549 month, I’d probably just shell out the extra $150/mo and get a Caddilac ELR instead.

    1. MTN Ranger says:

      You have to apply the down payments too.

      $699 + $5999 = $853/month
      $549 + $3460 = $645/month
      So about $208/month difference (which is the lease for a Leaf).

      i3 REx + Leaf = ELR

      1. Bonaire says:

        Pricing makes going-electric continue to be a hobby of ours and not a cost effective choice. Hope someday the firms can make more affordable EVs.

  4. evnow says:

    Jay,

    From a couple of days when I try insideevs.com – it goes to the default “Parallel Panels” website manager page. Not sure what the problem is.

    1. Jay Cole says:

      HowDee evnow,

      No problemo with this issue. What has happened as you have just so happened to hit the site when we were doing some maintenance/backup (generally uber late on a Saturday…at least for Easteners).

      Some browsers remember the default screen, even when the site is back up after 5 mins or so.

      Couple solutions. 1) clear your cache and reload 2) the very scientific hit refresh like 5-6 times in a row on the mainpage…then it will all be good, (=

      1. evnow says:

        I used the 2nd scientific method – it worked. Not sure why I’m getting this – must be a cache somewhere in the cloud since my browser is set to fetch fresh pages every time I visit the page.

  5. expert says:

    $499/mo PLUS ANOTHER $4200 cash down?!?!?

    not to mention sales tax! (another 6.25% in TX)

    no thanks!

  6. nate says:

    It will come down. They need to grab all they can from the earliest adopters.

    Taking account the cash down, the regular i3 is leases for double what my Volt does. The REx model is considerably more than double.

    Of course, the lease quotes I got for the LEAF last summer were about half of what they were compared to when I pre-ordered one for prior to them hitting the ground. Can’t expect the sweet deals on the first ones hitting the ground.

  7. Leafer says:

    The quotes are for 30,000 miles over 36 months! 833 miles a month?

    most leases are 12k per yr and some like mine
    15k per year

    1. expert says:

      nice catch!

    2. DocDragon says:

      ^ +1

      That’s EXACTLY what I thought! In that respect, this is one heck of an EXPENSIVE car to drive…

      I guess BMW was pretty serious when they said the i3 was a “Megacity” car and not a typical commuter vehicle. What a pity.

  8. RedLeafBlueLeaf says:

    For the base: $3k down plus tax and fees to pay $500/month + tax for 36 months of only 10k miles/year with a $725 acquisition fee.

    You have to REALLY value the BMW performance over the LEAF to pay up to twice as much as for a LEAF SV (after you get the 10k miles to something reasonable) for a car with only two usable seats.

  9. Dr. Kenneth Noisewater says:

    They need to stop dicking around and apply the full $7500, and even then, it’s a bit pricey.

    Also, their rates are too high, I got my 2013 Volt at 1.55% with 0 down for 60 months.

    1. GeorgeS says:

      I got my Volt for zero cash down, 4500$ capital gain reduction PLUS the 7500$ fed rebate.

      Why isn’t BMW giving the full 7500$ fed tax rebate??

  10. Teslanomics? says:

    Where’s that article on Teslanomics? I think the i3 came out to $18/month lease and all other BEVs you were actually being paid to drive…

  11. Brandon says:

    Meh still too much for what your getting.

  12. IDK says:

    Hmmmm….

    This Nissan dealer has the Leaf for $75 a month and about the same amount down at signing.

    http://www.nissanofauburn.com/

  13. Vin says:

    Wow. $60/month more than a 12K miles/yr RAV4 EV lease from Carson Toyota. And the RAV4 EV is $0 drive-off.

    That being said, it’s certainly better than the $900+/mo we were hearing a couple of months back.

    Any takers?

    1. acevolt says:

      I got my Rav4EV for $488 including tax with no money down and unlimited mileage lease and a lot more range and seating. I know its a compliance car, but they are easilty available for Californians.

      What is the price on the i3 after tax?

  14. Ted Fredrick says:

    I paid 0 down and $245 a month for my FFE. The bmw is twice the price. I have driven both and the only things I can say for the BMW is it is faster and has a bigger trunk and looks like a shrunken Honda Element

    1. Tucker says:

      Ted,

      How did you get your Ford Fusion Energi for O down and 245/month? What options do you have on your FFE? Is it the base model? The best I could get was 1k down for 332/month. But that was for the titanium model. Not sure if it was a good deal or not…

      1. acevolt says:

        That is probably the Ford Focus Electric.

        1. Tucker says:

          OK, you are probably right! Thanks for clarifying that.

  15. Spec9 says:

    Yeah, I think I’d go with the Fiat 500e or the Spark EV instead. (It is nice to have so many choices here in California.)

    But SOMEONE besides Tesla has got to start building longer range EVs. Look . . . just make it as an OPTION if you are worried no one will buy it.

    1. Bloggin says:

      That’s what I said all along.

      Offer the current cheaper 100 mile pack, along with an optional 200 mile pack for more.

      The 100 mile packs are already in production now, so just make two and give the consumer a choice.

  16. AC says:

    This lease is overpriced. For the same monthly you can get a $60k five series diesel! BMW missed the boat by not applying the full $7,500. If they did, the same lease would be $425 per month. If MB passes the full amount onthe b class and stretches the residual just a bit they could come out at $399 x 36. We’ll see….