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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.

Behind the Scenes of BMW's 'Drift Mob,' Part 2 [w/video]

After spending four days practicing about a dozen drift stunt moves in a parking lot for an upcoming BMW "Drift Mob" internet mini-film, Rhys Millen, Sam Hübinette, Dai Yoshihara, Rich Rutherford, and Conrad Grunewald are finally ready for show time. We are brought to the huge urban traffic circle to see the stunts performed midway through the day to observe for a couple of hours.
The undertaking is massive, with multiple cameras set up, scores of crew members, a helicopter filming from above, a rigged pickup for car-to-car shots, sidewalks lined with security and plenty of curious onlookers, and oh, yeah, a major intersection of a top world city shut down for an entire weekend.
The five drifting legends are nestled in their identical red BMW M235i coupes, which have been modified with special handbrakes but essentially nothing else you can't get on a stock version, and are listening to direction from director Mic Rodgers and stunt coordinator Riley Harper. We're basically given free rein of the set, to shoot the cars, the drivers, and at one point, even hopping in with Yoshihara for one of the admittedly more tame stunts. Even then, the g-forces are so severe that they flip our cameraphone's video recording from landscape mode to portrait. Yes, this is a pretty cool day to be reporting on cars, and as we said during our first installment of our behind the scenes coverage of Drift Mob, we're honored to be the only US media outlet here to tell the tale.

BMW i8: Jaw-dropping style and green performance, but why?

Why is there a BMW i8? Given the relative simplicity, affordability, practicality and energy efficiency of BMW's i3 sedan – available as a $42,000 all-electric or $46,000 extended-range EV – why design, engineer and build the much more complex and expensive ($137,450) but much less practical, exotic plug-in hybrid i8 2+2 sports car? Are i8 sales really worth BMW's huge investment of engineering effort and dollars? In 2015, BMW sold 2,265 i8s in the US, or about 189 a month. That compares to 11,024 (919 a month) for BMW's own i3, an estimated 27,840 (2,320 a month) for Tesla's battery-only EV Model S sedan and 1,024 (85 a month) for Cadillac's handsome, more practical and less expensive (but ridiculously overpriced and dismal-selling) ELR extended-range-EV luxury coupe. Are such sales really worth BMW's huge investment of engineering effort and dollars? The i8's lightweight Carbon Fiber Reinforced Plastic (CFRP) "Life Module" passenger cell rides on an aluminum "Drive Module" chassis that houses its complex propulsion system – a 228-horsepower, 1.5-liter turbocharged gas 3-cylinder (half of BMW's 3.0-liter twin-turbo straight six) driving its rear wheels through a six-speed automatic and a 129-hp electric motor twisting its front wheels through a "two-stage" automatic – and a 5-kWh lithium-ion battery. Its drag coefficient (Cd) is an aero-slick 0.26, and BMW says it can run on battery energy alone for up to 22 miles. Its total system output is a healthy 337 horses, and its EPA economy is 76 miles per gallon equivalent in gas-electric mode, but just 28 mpg when it's gas-only. A Driver Experience Control and an eDrive button offer EV and Comfort modes, plus Eco Pro (12 percent more range) and Eco Pro+ (12 more). So what is this gorgeous plug-in hybrid sports car like to drive and live with? I missed its press launch so have been hoping for some quality time with one ever since. Production has been limited, and US press cars are few, but BMW said I would eventually get my chance. It finally happened. If the unlovely i3 is a green technology revelation, this supermodel-sexy i8 is a green styling and performance revolution. If the i3 is the practical soccer mom of battery BMWs, the i8 might be the ultimate Teutonic trophy wife. But really, why do it? For starters, just look at it. Some might see a new, high-tech take on the Giugiaro-designed BMW M1 mid-engine sports car. Just 453 of those were built from 1979 to 1981.