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BMW i3 will come with unusual 'OwnersChoice' non-lease option

In case you were interested in driving a BMW i3 but were afraid of getting into a traditional lease, there's some good new for you. We think. BMW recently announced that it would offer something called "OwnersChoice" and "OwnersChoice with Flex" to make the elegant city EV an easier purchase. Or temporary purchase, anyway. Something called "OwnersChoice with Flex" is not listed on the federal government's consumer information page on vehicle financing and we couldn't get a better explanation out of BMW than the official announcement, but the gist appears to be that an i3 buyer can make a gigantic balloon payment at the end of the contract term in order to pay less in monthly costs along the way. The way Automotive News describes it, the typical balloon note chains the buyer to the car in such a way that, while you can get lower monthly payments, you're still on the hook for the amount of the financing even if you return the car. With OwnersChoice, if you give the i3 back after the contract is done (usually after three years), you're in the clear. With OwnersChoice with Flex, you need to pay up no matter if you keep the car or not, but you can take the $7,500 federal tax incentive and increase your balloon payment by - let's see here, what's the amount? ah, yes - up to $7,500, which would knock $208 (7,500 divided by 36) off your payment every month. BMW Group Financial Services (GFS) came up with this new lease/payment hybrid thing, and Fred Isele, BMW GFS vp of sales and marketing, says it lets owners get, "a comfortable payment for one of the highest technological and efficient premium electric vehicles available to date." BMW GROUP FINANCIAL SERVICES OFFERS 'OWNERSCHOICE WITH FLEX' FINANCING PRODUCT WITH PURCHASE OF NEW i3 -- PROVIDES END-OF-TERM OPTIONS SIMILAR TO LEASING, YET BENEFITS OF OWNERSHIP WOODCLIFF LAKE, NJ – February 25, 2014 – With the launch of the BMW i3, the brand's first premium electric vehicle, BMW Group Financial Services becomes one of the first in the industry to create a financial solution to ownership that provides eligible customers with the options to lower their monthly payment and return the vehicle at the end of their contract term. The financing product called 'OwnersChoice with Flex,' provides eligible BMW i3 customers the option to increase their final OwnerChoice balloon payment due at the end of their contract term by up to $7,500.

2015 BMW M4 Convertible Quick Spin [w/video]

Quite a while ago, we ran a story where our editors disclosed their guilty pleasure cars. There, I admitted my love for the ultra-comfortable Acura RLX. But I have another automotive guilty pleasure, and it's the BMW M4 Convertible, and the droptop M3 that came before it, as well. Whether it's an E46, E93, or the new F83 M4 model, I just love the idea of a droptop M car. It kind of goes back to my Lexus RC F review, where I posit that most consumers buy a car like this solely for the image. To the point of this car, if you're opting for a convertible, you're boldly throwing out any pretense that you bought this car for its performance. It's a different and far grander indulgence than something like a droptop Ford Mustang, Chevrolet Camaro, or even a Corvette, and that's especially the case with the new M4, as I found out after a week at the wheel. Driving Notes Anyone that's listened to me on the Autoblog Podcast knows I've been none too kind about the state of BMW's turbocharged M cars. In effect, they're too easy to drive. In older models, the narrow power band meant you needed to always keep an eye on the tach, lest you fall into a weak zone. But because today's turbocharged M engines are so damn torquey, you can simply mash the throttle, regardless of engine speed or gear, and zoom forward. That's mostly the case here, although with a 7,500-rpm redline, the M4 at least maintains the illusion that you have to keep the revs up. Power delivery is fast and immediate, capable of catapulting the M4 towards the horizon at even half throttle. But more than the brutal power delivery, this latest M entertains with a strange but familiar singing voice. It's an almost feral, straight-six howl, particularly high in the rev range. But because of the single-scroll turbochargers and today's sound-tuning sorcery, the noise here is far richer and complex than what you'd get in a naturally aspirated M car, like the old E46. The turbos hiss and spit, and wide-open-throttle upshifts come with a cackling snap from the quad-tipped exhaust. Despite my belief that M cars' manual transmissions are generally pretty lousy these days, the M4's gearbox is far better than what you'll find in an M5. The clutch is more forgiving than in the larger sedan, too. With a broad catchpoint and a linear action, it feels natural and intuitive to work.

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation