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BMW i3 I01 (2014 - Current)
The BMW i3 and BMW i8 are the first two cars launch under BMW's new sub brand BMW i. The i3 is an all carbon fiber, all electric vehicle meant for urban mobility.

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  #1  
Old 03-31-2017, 04:30 AM
MGS9500 MGS9500 is offline
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New 2017 i3 lease, traded 2014 i3 lease

I have been driving my 2014 i3 under a lease and was near the end of my lease. As others have pointed, the end of lease buy and residual was far greater than the current value and prices listed at multiple sites.

I evaluated the multiple options for a new electric car. I did drive two Prius hybrids, a Nissan Electric Leaf, and then switched to the i3 Rex. I am someone who likes to trade cars and get a new technology green car on an every two year basis. I consider electric cars something like cell phones, every two years there is something better.

After looking at the Bolt, which is not available in the mid west till mid summer, I looked at the Volt. The Volt is nice, but the ergonomics and the style really is kind of bland.

And the Tesla is more money and not a two year car. The new model has a year long waiting list and isn't released at this time.

Many of the other electric cars are not available in the mid west. They are aimed at west coast sales.

So, I checked the new i3. And, I found a dealer who offered me a great deal. An early turn in, paid off three months of my lease, allowed a new 24 month lease, and the price per month is less than my original lease with the same deposit and more options.

I got the fully loaded terra, in the blue. And let me unequivocally state, it is a great car. For those on the cusp of the new i3 Rex, the moonroof adds a whole new dimension to the car.

Plus, the added battery storage easily adds, in my driving style, almost 40 miles to the total electric distance. I do highway and local driving. I used to get a 70 mile range. I now average about 110 to 120 miles. And, the Rex shows a full 70 mile fuel capacity giving almost 200 miles of range.

The moonroof add light and more ventilation. It has the ability for full opening or partial, and works with the sun screens closed.

I have done the "hacks" and added folding mirrors, AM radio, got rid of the screen consents and backup warnings, and fixed the automatic door locks.

Yes, the same car, but goes farther, a different feel the moon roof, and just as fun to drive.

Plus the new BMW app is faster, has the GPS locator option, and gives a quicker interaction to the vehicle.

So, for those on the cusp, I wouldn't hesitate to get the new i3. My dealer was happy to work the early termination, took three months off my 2 month lease to get me in the new car, new lease termination fee, and a better price.

From my point of view, there is not a better electric car out there, at this time.
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Old 03-31-2017, 07:02 AM
The Other Tom The Other Tom is offline
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Congratulations
Can you share more specifics of your deal ? I'm looking for an i3 and want to make sure that I also get a good deal.
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  #3  
Old 03-31-2017, 07:43 AM
MGS9500 MGS9500 is offline
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Originally Posted by The Other Tom View Post
Congratulations
Can you share more specifics of your deal ? I'm looking for an i3 and want to make sure that I also get a good deal.
I got the standard $7500 electric car federal rebate, up from the rebate in 2014, and an internet purchase and corporate discount.
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Old 03-31-2017, 09:56 AM
The Other Tom The Other Tom is offline
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Thanks.
True Car dot com is showing new i3's sell for at or near invoice, or about 93% of MSRP. I assume that includes all rebates (incl the $7500 rebate) but I'm not sure.
Considering all the rebates, was your capitalized cost near invoice, or somewhat below invoice ? In other words, what % off of MSRP did you get ?
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Last edited by The Other Tom; 03-31-2017 at 10:59 AM.
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  #5  
Old 03-31-2017, 11:52 AM
Tirpitz Tirpitz is offline
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If it helps we have a new 2017 i3 on a ship right now with arrival in late April. Since we don't know what the April incentives might be nor what might happen in May I can't tell you what our lease payments are, but I can say we got invoice minus $500 which is roughly 7% off MSRP. That price is before any incentives. Things like the $7,500 from BMW, AARP/Fleet discounts will be on top of that.

I think if there was a car on the lot at end of a month I could have done a bit better on the price. But we wanted a very specific set of features and there were less than 10 cars in the entire US that were even close so I have happy to order it at that price.

Last edited by Tirpitz; 03-31-2017 at 11:53 AM.
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  #6  
Old 03-31-2017, 05:09 PM
The Other Tom The Other Tom is offline
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Thanks for the info. I guess we have to wait to see what the April incentives will be now.
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Old 04-01-2017, 05:31 AM
eze2bme eze2bme is offline
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Just keep in mind that the $7500 federal "rebate" is NOT a rebate but a tax credit. The cost of the car isn't reduced by $7500.
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  #8  
Old 04-01-2017, 08:23 AM
The Other Tom The Other Tom is offline
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Originally Posted by eze2bme View Post
Just keep in mind that the $7500 federal "rebate" is NOT a rebate but a tax credit. The cost of the car isn't reduced by $7500.
Correct.
And there are IRS rules for claiming the credit.
As they say..."Consult your tax professional"
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Old 04-01-2017, 09:09 PM
jadnashuanh jadnashuanh is offline
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Originally Posted by eze2bme View Post
Just keep in mind that the $7500 federal "rebate" is NOT a rebate but a tax credit. The cost of the car isn't reduced by $7500.
And, not everyone will qualify for the credit depending on their income and the taxes they're paying...the alternate minimum tax rules can thwart your expectation of receiving the full credit even if you have paid enough taxes during the year.
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Old 04-02-2017, 06:29 AM
MGS9500 MGS9500 is offline
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The $7500 is 100% deducted from the lease price. BMW gives a $7500 discount off the price at the time of the lease. This is at the time of lease purchase. The problem with this is any person buying a used electric get 0% off .

For my purchase, the dealer gave a internet discount, $7500 off, and a corporate discount.

$9950 off the MSRP

17.5% discount from list.

You may do better. From my point of view, it was the car I wanted, in the color I wanted, with the options I wanted.

I am willing to accept some pricing discounts for dealer service and getting the options I want.

These cars are typically not custom ordered. They show up and you have to accept the dealer stock or a possible dealer trade. In my neck of the woods, the mid west, there are not all that many cars in stock.

I always want the fully loaded Rex i3. Many dealers delete options on their orders to keep the prices low.
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Old 04-02-2017, 10:09 AM
The Other Tom The Other Tom is offline
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Do they give the same $7500 off a purchased car ? It's my understanding the BMWFS, as the real owner of the car, gets the $7500 tax credit and that's what they're passing on to you as a "rebate". Please correct me if I'm wrong.
That's not to say you didn't get a good deal. Anytime you can lease a BMW for 17.5% off MSRP you're getting a great deal, regardless of where the discounts come from.
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  #12  
Old 04-02-2017, 01:09 PM
eze2bme eze2bme is offline
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When I leased my 2014 I DID NOT get the $7500 deducted off of my lease - maybe it varies by dealership????


Quote:
Originally Posted by MGS9500 View Post
The $7500 is 100% deducted from the lease price. BMW gives a $7500 discount off the price at the time of the lease. This is at the time of lease purchase. The problem with this is any person buying a used electric get 0% off .

For my purchase, the dealer gave a internet discount, $7500 off, and a corporate discount.

$9950 off the MSRP

17.5% discount from list.

You may do better. From my point of view, it was the car I wanted, in the color I wanted, with the options I wanted.

I am willing to accept some pricing discounts for dealer service and getting the options I want.

These cars are typically not custom ordered. They show up and you have to accept the dealer stock or a possible dealer trade. In my neck of the woods, the mid west, there are not all that many cars in stock.

I always want the fully loaded Rex i3. Many dealers delete options on their orders to keep the prices low.
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  #13  
Old 04-02-2017, 03:26 PM
The Other Tom The Other Tom is offline
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Quote:
Originally Posted by eze2bme View Post
When I leased my 2014 I DID NOT get the $7500 deducted off of my lease - maybe it varies by dealership????
BMW incentives vary from month to month, but they are usually national incentives and are available through all U.S. dealerships. I don't know what incentives they offered in 2014 but they're most likely different from what they are offering today. In any event it's water under the bridge now. I assume you were happy with your deal or you wouldn't have signed on the bottom line.
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Last edited by The Other Tom; 04-02-2017 at 03:27 PM.
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  #14  
Old 04-02-2017, 04:17 PM
MGS9500 MGS9500 is offline
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A lot of confusion.
In 2014 BMW was not giving the full $7500 rebate. They were giving only 1/2 on the lease.

When you lease, and don't buy, the rebate goes to the leasing company, not you.

The leasing company gets the full tax rebate, not you.

Then, they have the option of passing on the saving to you. In 2014, BMW passed on only a part of the rebate.

In 2017 they will, in a lease situation, apply all of the tax rebate to the invoice price and deduct it. And, any additional deductions are yours to take advantage of in the final lease price.

So, buying the car is a tax credit.

Leasing is a full deduction.

And, BMW is giving a high valuation on two year lease, which further decreases the rate.

I would not buy an electric car. In the two years I've owned mine, the BMW has gone from 70 to 120 range. And, the REX now shows a full 70 mile tank.

For me, the lease option was the best choice, full $7500 rebate, added dealer and corporate discount, two year lease at low interest, and a great car.
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  #15  
Old 04-04-2017, 10:40 AM
ssstraub ssstraub is offline
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Hey OP, I'm in a '14 REx and my lease ends in June. Can you tell me more about how you went about getting the early lease turn-in? I'm surprised to hear this offered for an i3. And further it sounds like you got it from a different dealer than your 2014, correct?

Did you suggest ended the prior lease early first or the CA?
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Old 04-04-2017, 02:05 PM
MGS9500 MGS9500 is offline
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I called my original dealer and told him I had the loan termination inspection notice from BMW ans was interested in a new i3 lease. He told me that he'd be happy to do the deal, and would be able to put me in early and have BMW eliminate the rest of the lease.

He is local, but did not have the car I wanted. I found one about 200 miles away, and asked him about a dealer trade.

After three calls to him and no action, I called the other dealer and he said he had not heard from my local person. The dealer who had the car I wanted said it is unusual, but he would do the deal and offered me a price that was almost 3 grand less than my local person.

So, did the deal on the phone and internet. He shipped the car by auto transport truck to my house, and picked up my leased car back to his dealership.

The easiest deal I ever did. Never had to go to the showroom, never had to sit in the managers office while they tried to sell me added stuff.

I got a final letter from BMW saying my car had no lease issues and they ended my lease three months early.

Got my new 24 month lease. And, this BMW i3 is loaded with every option and with the discounts is less than my previous lease.
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Old 04-05-2017, 07:08 AM
ssstraub ssstraub is offline
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Wow that sounds amazing. Thanks for providing the details. I can't believe they even took your leased car back on the same truck even though you didn't buy the 2014 there! I bet that is extremely uncommon.

Do you mind sharing the dealer/CA?
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  #18  
Old 04-05-2017, 07:56 PM
MGS9500 MGS9500 is offline
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Private message sent with information.
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Old 04-06-2017, 11:23 AM
slipnslider slipnslider is offline
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Originally Posted by MGS9500 View Post
I consider electric cars something like cell phones, every two years there is something better.
That consumer-technology treadmill attitude is going to fill a lot of landfills with a lot of toxic waste.
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Old 04-06-2017, 11:38 AM
ssstraub ssstraub is offline
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Originally Posted by slipnslider View Post
That consumer-technology treadmill attitude is going to fill a lot of landfills with a lot of toxic waste.
I disagree. It will reduce second hand prices of electric cars so more people can enjoy them over a gas burner. Ending a 2 year lease doesn't mean the car is going to the junk yard.

I'm expecting i3 in particular to last a good 15-20 years considering the car is CFRP and plastic so no rust issues, and the battery can easily be swapped out with newer/cheaper battery cells in the future.
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Old 04-06-2017, 11:41 AM
MGS9500 MGS9500 is offline
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Four points,
1.) Lithium ion batteries are not toxic waste. Lead batteries and other types are, but lithium is not considered a toxic waste.
2.) The i3 is considered one of the most ecologically friendly cars being built from environmentally friendly materials.
3.) I don't drive my car into a landfill, I lease it and return it for resale.
4.) How often do you buy a new cell phone?

Leasing and returning an i3 every two years does not increase carbon pollution or use environmentally dangerous materials.

You need to pick another fight.
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Old 04-06-2017, 12:42 PM
slipnslider slipnslider is offline
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Originally Posted by MGS9500 View Post
Four points,
1.) Lithium ion batteries are not toxic waste. Lead batteries and other types are, but lithium is not considered a toxic waste.
2.) The i3 is considered one of the most ecologically friendly cars being built from environmentally friendly materials.
3.) I don't drive my car into a landfill, I lease it and return it for resale.
4.) How often do you buy a new cell phone?

Leasing and returning an i3 every two years does not increase carbon pollution or use environmentally dangerous materials.

You need to pick another fight.
I wasn't talking just about the i3. I was talking about the attitude of always needing the newest and best whatever. I keep my phones until the manufacturer starts intentionally crippling it to make me upgrade. You are not your phone. You are not your car. If you just can't stand the feeling of knowing your device isn't the latest and greatest, I think you should get help. But you're not alone, that mentality has infected a lot of people recently.
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Old 04-06-2017, 12:51 PM
ssstraub ssstraub is offline
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Oh please. How ironic to hear this in a thread about one of the world's most ecological vehicles, from plant sourced interior bits to factories run solely on renewable power.

I don't see anyone here suggesting a newer, better car is a need. If I can get a newer, better car for the same payment (or less!) knowing full well my car will be 100% reused by the next owner, why wouldn't I?
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Old 04-06-2017, 04:35 PM
MGS9500 MGS9500 is offline
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Originally Posted by slipnslider View Post
, I think you should get help. But you're not alone, that mentality has infected a lot of people recently.
Ok, I need help. Thank you for your psychological evaluation based on a car purchase at the end of a lease. Your insight and acumen is both astounding and incredible.
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Old 05-18-2017, 08:13 PM
Davegsu Davegsu is offline
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I would love to see some monthly lease payments quoted on these deals. I'm considering a used i3 with an elite cpo warranty, but it sounds like leasing is the way to go.


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