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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.

Volvo, Kia and BYD duke it out in the finals for World Car of 2024

Three electric vehicles — none produced by an American manufacturer — will compete next month for the title of 2024 World Car of the Year, it was announced Monday. The finalists are the Kia EV9, the Volvo EX30 and the BYD Seal (shown above). The latter two are built in China. The three top finalists in five other categories were also named at the Geneva Motor Show in Switzerland. The winners in all six categories will be revealed live during an awards ceremony at the New York International Auto Show on March 27. This year marks the 20th year of the World Car Awards and the partnership with the New York show. Besides car of the year, the other finalists are: Electric vehicle: BMW i5, Kia EV9, Volvo EX30; Luxury car: BMW 5 Series/i5, Mercedes Benz E-Class, Mercedes Benz EQE SUV; Performance car: BMW M2, BMW XM, Hyundai Ionia 5 N; Urban car: BYD Dolphin, Lexus LBX, Volvo EX30; World Car Design: Ford Bronco, Ferrari Purosangue, Toyota Prius. Only Ford among U.S. companies has an entry in the final selections, and only in one category, design, for the Bronco. BMW has four vehicles in the finals, Volvo has three, Kia and Mercedes have two each. BYD from China has two entries as well. The Seal went on sale in in its home market in 2022 and is now available in most of the rest of the world. The BYD Co. (which stands for Build Your Dreams) has surpassed Tesla to become the worldÂ’s biggest maker of electric vehicles, and has its sights set on the U.S. The selection process for World Cars involves 100-plus automotive journalists from 29 countries who vote, as they review and test-drive the eligible vehicles for the 2024 awards. Their journey is captured virtually on World Car TV. Design/Style Geneva Motor Show BMW Ferrari Ford Hyundai Kia Lexus Mercedes-Benz Toyota Volvo Best Cars World Car of the Year

2016 BMW 330e Plug-In Hybrid First Drive

Piecing together the i8 eco sports car taught BMW some valuable lessons, some of which you'll see in the next generation or two of the company's electrified mainstream cars. You won't have to wait that long for BMW to deliver on the key lesson, which can be seen right here in the 330e: make hybrids fun to drive and don't make people compromise on what they like. The 330e neatly sidesteps the traditional character-blanching entry ticket you get with hybrids by delivering almost as much torque as the 340i and a sprint time to 62 miles per hour of 6.1 seconds. For most people eco-conscious enough (especially in a time of cheap gas) to bother with plug-in hybrids, that's going to be quick enough. And so is the 140-mph top speed. It won't quite manage the precision of a normal 3 Series because it's 353 pounds heavier, but it's not far away. This 330e is (theoretically) capable of delivering 25 miles of electric-car range or ridiculous amount of range as a gasoline-electric hybrid. It will post a 44-gram CO2 emissions figure and officially deliver 1.9 liters/100km on the NEDC test cycle in Europe, which translates to 124 miles per gallon equivalent in the US, though it's unclear what the EPA-certified number would actually be. While punching in a straight line is always good, and sipping fuel like it's being rationed is nice, the key part to the 330e is that still handles like a 3 Series should every time you arrive at that one fun corner. It won't quite manage the precision of a normal 3 Series because it's 353 pounds heavier, but it's not far off. BMW has buried the 7.6-kWh lithium-ion battery pack beneath the cargo floor, while the electric motor resides up front, so the weight distribution moves from 50:50 to 49:51, leaving it a touch heavier in the back. Effectively, it's a 3 Series with the 320i's 2.0-liter, four-cylinder gasoline powertrain, the standard eight-speed automatic transmission, and an electric motor sandwiched in between to create a hybrid. The electric motor adds 87 hp to the gas engine's 181 horsepower to offer 248 hp of total power (yes, we know they don't directly add up, but that's the total output). While it has 74 pound-feet of continuous torque, the electric motor can overboost to 184 lb-ft when it needs to. Add that to the gas engine's 214 lb-ft and the car has a maximum of 310 lb-ft – 22 lb-ft shy of the 340i, without pumping out as many emissions.