How To Lease A $51,695 BMW i3 For $112 Per Month

MAY 23 2018 BY STEVEN LOVEDAY 14

The BMW i3 is not an inexpensive car, but it often comes with huge discounts and unheard of lease deals.

Discounts and deals vary geographically, and many times, most dealers won’t be able to honor the amazing pricing you see advertised. However, if a deal is incredibly good, even if your local dealership ups the final numbers, you still win.

Act Fast: PG&E Joins The Club Offering $10,000 BMW i3 Discount In California

More Information: 2017 BMW i3 With 114 Mile Battery Just $1,200 More, From $44,595

As reported by Automotive News, New Jersey-based financial adviser Mike Piccolo was apprised of a lease deal on a 2017 BMW i3 that he was sure was a fake. A friend tracked it down on Leasehackr, so he had to get the details. The site was reporting a two-year lease on the car for a mere $54 a month. Piccolo said:

The car’s $50,000. How are you getting it for $50? IPhones aren’t even $50 a month!

Being that EVs still haven’t reached any high level of adoption, especially in the U.S., automakers need to do everything they can to make them price-competitive. This may mean taking a loss on the cars, which can be made up through sales of higher-volume, higher-margin vehicles.

Piccolo set out to see if he could actually secure this crazy deal. He already owns a 2014 BMW i3 and a Tesla. Sadly, the first i3 set him back a whopping $500 per month, so needless to say, getting a newer version for pennies on the dollar was something he couldn’t pass up.

Initially, he was struggling to find a dealer in his area that would even touch the deal. He contacted his friend Dan Kim who was the original source of the information. Kim reached out to 15 BMW retailers before he was able to have some luck. New York Long Island-based BMW of Oyster Bay was willing to try to make the lease offer a reality.

In the end, he leased the $51,695 2017 BMW i3 for $112 per month! He paid the whole lease in full for $2,700. Automotive News explains how the negotiation process worked out:

To start, they asked for a 14 percent discount from the sticker price and ended up with 13 percent. A bunch of special perks helped pull down the price. Since Piccolo owned a BMW already, he received a $2,000 loyalty credit, and he applied a $500 discount with BMW that was available through his job. Added to that mix were a $7,500 federal EV tax credit, which BMW subtracted from the price; New Jersey’s EV tax breaks (eligible even when residents purchase a car elsewhere); $2,000 in cash incentives; and a $1,000 discount for attending a BMW promotional event.

Source: Automotive News

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14 Comments on "How To Lease A $51,695 BMW i3 For $112 Per Month"

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For those thinking they can cash in on this deal now, don’t bother. This was a sell-off of ’17 i3’s to get rid of inventory ahead of the ’18s arriving. Not to mention the guy was eligible for a $2k loyalty rebate only applicable to BMW owners at the time. This was a catching lightning in a bottle type deal, and the storm has long since passed, and the bottle shattered. Good on the guys that scored those deals though!

Also the cost per month is meaningless without knowing the required down payment.. and I suppose residual value may matter to some as well.

It says he paid the whole lease in full for 2,700. That means all payments.

Correct!

Have to remember this.

Please read the article before commenting

If you check dealer inventory, if the car has been sitting on the lot for more than 30 days, and they take you seriously, you could also get a good deal. Some customers want a leather interior, and others want the tan wool/leather interior, that breaths summer and winter for example.

If you will take what’s on the lot you can get a better deal.

Also, if you’re in Pennsylvania and are close to the New Jersey boarder, you can buy in NJ. Their dealers seem to be more aware of how to sell this car, and the Tax Credit issue.

What if Im in Md near NJ border?

Of course it doesn’t happen all the time but there are deals on this car from time to time. At $200 per month it’s alot more common. Sometimes if you don’t qualify for loyalty you may get a conquest deal. The $1k off for attending event was well advertised, even here I believe. not all of us can pay msrp like you did.

I leased my 2014 for $118 a month.

And what’s you put down? $10k? 😀

Jealous? You should be!
Great job, jelloslug!

To be fair, he never said $0 down nor the contracted miles. I’ve learned to be skeptical of all lease deals that don’t explicitly mention at least these two details along with the monthly price.

I bet 0 after state and electric rebates, i have seen this deal in SoCal before. Even is it’s for 7500 miles a year it’s still great.