Spyerx

Year: 2020
Make: BMW
Model: i3
Mileage (numbers only please): 1601
Options (Please check ALL which apply): Airbags, Air Conditioning, Alarm System, Antilock Brakes, Cruise Control, Leather Seats, Power Brakes, Power Door Locks, Power Steering, Power Windows, Sunroof
Color: Blue
Price (no $ sign please): $46000
Private or Dealer Listing: Private Listing
Location (Region): SoCAl
Body Style: Coupe
Transmission Type: PDK
2 or 4 Wheel Drive?: 2 Wheel Drive
Engine Type: Other
Stereo System: AM-FM Stereo

ok the lease copy is helpful, here are some #'s for folks, the reason for the questions is evaluating if this is a good lease (or not) to take over. I am in market for a daily for the wife... and she likes these (we are in SoCal also).

This is a pretty good deal with you supporting 6mo of payments on the lease. The MF on these is not great, but I'm pretty sure the residual is stronger than resale (if you look at current prices of i3 2-3 years old you'll see what I mean, BMW is subsidizing the residuals)

$0 out of pocket to sign lease
$9500 in rebates used for cap cost reduction + fees (federal + state of CA rebates)
Sell price of 54750 (about 9% off MSRP)
MSRP of 59895
Lease is 36mo/30k miles
Capitalized the acquisition fee + EWT (end of lease 'warranty' coverage)
money factor is .00156 (3.75% apr equiv)

So the math:
$54,750 sale price
+$2620 in other stuff
=$57,370 gross capitalized cost
-$7385.20 in rebates (rest goes to various fees and taxes)
=$49,984 net Cap Cost

$59895 MSRP
58% residual
=$34,739 Residual value

36mo lease term
.00156 MF
10.25% sales tax

Payment:
(49984 + 34739) * .00156 = $132.17 lease fee
+ 49984 / 36 = $423.49 depreciation
$555.66 payment
10.25% sales tax
=612.62 payment

Ubermensch

Spyder, thanks for the detailed breakdown. I hope that helps some others! I was hoping that with a barely used car a nice incentive would get it into a new garage. Let me know if you or your wife have any questions or want to check it out.

Gellie, as you can see the net cap cost was just under $50k which included the $1600 lease end protection program.

islandsnow

that's a good deal, looks killer too

gellie

Thanks I was looking at a outright purchase. your current current buyout is $48300. If i were to purchase a new one(like your build) it would be $59895 - $7500 in federal rebates + no sales tax.

Ubermensch

Gotcha. I can't do much about the tax situation, but for an outright sale I'm asking $46k OBO. That gives you ~$6400 to cover taxes which from what I can tell are capped at $575 in NJ. Of course you need to cover transport to NJ from Socal, but still a pretty good chunk of change between the two numbers for a three month old car...

gellie

Actually the i3 is totally tax exempt in NJ.

Ubermensch

Yes, I understand you'll pay no taxes on a new one. Are used ones taxed?

I'm saying if you bought new you'd pay: $59895 - $7500=$52,395. If you buy from me you pay $46,000+whatever taxes, so maximum $46,575.

gellie

Yes fully taxed on used EV's. One time exemption to the original buyer of a new car. Your car would be $46,000 + 6.625% = $49,047

Ubermensch

Just be happy it's 7% or capped at $575. Here in California is 10% every time the car changes hands...no cap.

For anyone interested in taking over the lease, I'll sweeten the deal by covering the lease transfer fee if you commit to getting the deal done before the next payment is due (10/2)!

gellie

No cap in NJ. 6.625% New/Used.
from NJDMV What is the Sales Tax rate on a motor vehicle?
As of January 1, 2018, the rate is 6.625% on the purchase price of a new or used vehicle. The rate in 2017 was 6.875%.

Ubermensch

I stand corrected. Google led me wrong with outdated information or a bad source. Thanks for correcting it.

S.

sunxia

Hi Ubermensch,

Is your i3s still available?


Thanks.

Ubermensch