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
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)
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)