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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.

Popular Science magazine's Best Of What's New 2012 all ate up with cars

Popular Science has named the winners in its Best of What's New awards, the victors coming in the categories of aerospace, automotive, engineering, entertainment, gadgets, green, hardware, health, home, recreation, security and software. The automotive category did not go wanting for lauded advancements:
Tesla Model S: the Grand Award winner for being "the standard by which all future electric vehicles will be measured."
BMW 328i: it's 2.0-liter turbocharged four-cylinder gets called out for being more powerful and frugal than the six-cylinder it replaces.

LAPD will get 100 BMW i3 electric cars

BMW of North America said Wednesday that it will supply the Los Angeles Police Department (LAPD) with 100 BMW i3 electric vehicles. Still, anyone hoping to see those oddly shaped vehicles in hot pursuit along Southern California's streets will have to wait. That's because the cars will be used to transport officers from one place to another, and for community outreach. They won't be used for chasing the bad guys. BMW beat out some other electric vehicles (BMW didn't mention who) in a field trial. The i3 gained points for its combination of drivetrain efficiency, connectability (for fleet management), and reliability. It also helped that the Bimmer has a short wheelbase and tight turning radius, making it easier to navigate the perpetually traffic-filled streets of Los Angeles. The i3 has a base price of $42,400, so the cars aren't exactly cheap. Still, 100 Level 2 chargers and four DC fast chargers will be supplied to the LAPD by Greenlots, and refueling costs will be low. The LAPD had been testing a couple of Tesla Model S electric sedans during the past year, though those were slated for high-pursuit use. Still, while BMW's nod doesn't necessarily mean Tesla is out, the LAPD has indicated that concerns over a possible power outage and resulting lack of ability to recharge the Teslas were probably going to stop the force from using the EVs. Los Angeles Mayor Eric Garcetti said last year that the city would eventually lease 160 electric vehicles which would be split among various city departments. Take a look at BMW's press release below. Related Video: BMW of North America Wins Bid to Supply the Los Angeles Police Department with 100 BMW i3 Electric Vehicles Los Angeles, CA – June 8, 2016... BMW of North America today announced that it has won its bid to supply the Los Angeles Police Department with 100 fully-electric BMW i3 vehicles for use in the department's transportation fleet. This announcement comes after a field trial during which a BMW i3 was evaluated alongside other EVs on the streets of Los Angeles as part of the LAPD's every day fleet. Ultimately, the BMW i3 was selected due to a combination of EPA rated best-in-class efficiency, reliability and state-of-the-art ConnectedDrive services, which can be used to support fleet management applications.