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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.

Daily Driver: 2016 BMW X1

Daily Driver videos are micro-reviews of vehicles in the Autoblog press fleet, reviewed by the staffers that drive them every day. Today's Daily Driver features the 2016 BMW X1, reviewed by Alex Kierstein. You can watch the video above or read a transcript below. And don't forget to watch more Autoblog videos at /videos. Show full video transcript text [00:00:00 ]Hey, everybody. I'm Senior Editor Alex Kierstein and today we're driving the 2016 BMW X1. It's replacing the old X1 and the old X1 was based on BMW's traditional rear-wheel drive platform. That meant the engine was positioned longitudinally, that's north/south in the engine bay. In this application, we've got a transversely mounted turbo charged inline four, making 228 horsepower. [00:00:30] It displaces 2.0 liters and it's part of BMW's new modular engine family. It's a nice engine. It's smooth. It sounds good and it's got a lot of power. This is a little lighter than the previous car. This one weighs 3,660 pounds versus the old X1's 3800 and some change. It's a little bit lighter. The dimensions aren't that much different. If you're wondering why it got smaller, that's because it's using a platform [00:01:00] shared with a lot of BMW's Mini products. This is really the fruition of BMW's investment in the Mini brand because now they're able to use those platforms in the engines they developed for those models in BMWs. This X1 has an 8-speed automatic transmission and it's really a pretty good trans. It kicks down quickly if you call for it to give you some power and for the most part it's smooth and kind of out of your way. [00:01:30] Where Minis are sort of raucous when you really whomp in it, this is a little more restrained. It still delivers power like many of the current turbocharged Minis out there, but there's more refinement here. I really like the external styling on this car. It's wearing this really lovely shade of dark blue and BMW's current styling language lends itself really well to this shape [00:02:00]. It looks really tidy and it's not really that complex or interesting of a shape. It's very much the traditional two-box CUV kind of exterior look and profile, but the detailing is nice. It looks sharp. It looks like a premium product and it looks like a more expensive product than a similar Mini would. BMW used to pride themselves on having simple uncluttered interfaces and even the sort of trimmed down iDrive that's in this unit [00:02:30]. Works pretty well.

Recharge Wrap-up: Eigg's renewable energy grid, Wulin City Car EV looks like i3

Scotland's Isle of Eigg's electrical grid relies solely on wind, hydro and solar power. It's the first grid of its kind after switching to renewable energy from noisy, unreliable diesel generators. Scotland's renewable resources are fodder for supporters of independence form the UK, and Eigg is a perfect example of that potential. Besides being a responsible community, it also seems like a lovely place to visit. Read more at Reuters. London Mayor Boris Johnson is calling for incentives for diesel vehicle scrapping. The goal is to improve London's air quality, encourage the purchase of clean vehicles and offset the inconvenience of charging diesel cars to enter the city's proposed Ultra Low Emissions Zone. Read more at Green Car Congress or in the press release below. BMW, Nissan, Renault and Volkswagen are teaming up to create a better EV charging infrastructure in the UK and Ireland. As part of the Trans-European Transport Network (T-ENT) program, the group aims to create extended EV-friendly roadways with the UK Rapid Charge Network, connecting major cities on the islands. Plans for the network include 70 rapid chargers along 684 miles of road. The four manufacturers also want to extend the project to mainland Europe to encourage the adoption of EVs. Read more at Hybrid Cars. Wuling is working on an EV, called City Car, which liberally takes visual cues from the BMW i3. The City Car EV concept is slated to make its debut in November at the Guangzhou Auto Show, while a production version could make its way onto Chinese roads next year. We might have to wait until the debut to know what powers the City Car, as those details haven't been released yet. General Motors is a 43-percent stakeholder in Wuling. Read and see more at Car News China. Taxi customers in New York will enjoy greater payment flexibility with the new interoperability between RideLinQ and Way2ride apps. Now customers will be able to use either app to pay in any of the city's 20,000 green and yellow taxis. There's no need for separate apps for separate cabs, and no need for drivers to install any new equipment. The groups behind the apps hope to expand this functionality to other cities across the country. Read more in the press release below.