Here is without tax credit factored.
Interest rate 1.57%
Residual $39088 55%
Thus - the lease only makes financial sense if you can't take the federal tax credit or you lease the car from a small business so most of the payment (or 100%) is with pretax dollars. For the small business owner, it still might not make sense.
If you factored in the federal tax credit as a 100% to CCR, you have to have a 4% interest rate and a residual of $34,655 (49%) (or some combination of higher interest rate and low residual). Given the 3% offered on a 6 year loan, the interest should be lower on a 3 year lease.
50% of tax credit as CCR (BMW's numbers on the i3), 50% residual(buy back rate), 1.27% APR (too low)
So a little hard to make the numbers work with something that makes sense. They could always factor in some random portion of the TC - like 65%. But I suspect the residual should be right at the buy back guarantee and interest should be in line with purchasing - but a little lower to reflect the shorter term.
I can't believe someone here hasn't seen the agreement and let us know the details. I have a small business and I would lease through it. Give me the full tax credit, around 2% APR, and next gen seats on an 85D and we have a deal regardless of residual.