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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.

BMW Pininfarina Gran Lusso Coup'e concept echoes 8 Series

BMW and Pininfarina are planning to debut a new concept at the 2013 Concorso d'Eleganza Villa d'Este. The Gran Lusso Coupé is designed to be the next logical step forward from the Zagato Coupé, and the one-off creation boasts plenty of BMW earmarks to set the car off as a true member of the German automaker's family. With a long wheel base and a stretched nose, the two door can't help but channel the long-dead BMW 8 Series, and the potent V12 under the hood only reinforces the link.
BMW has been kind enough to slip the world a few teasers, and the images show what looks like it could be the low-slung grand tourer of our dreams. Check out the full press release below for more information, and stay tuned for the full unveiling.

2014 BMW X5 doesn't upset the formula

BMW has unveiled the 2014 X5, and fans of the company's CUV will find plenty familiar in the machine. The biggest change to the recipe comes in the form of the X5 sDrive35i, which is the first rear-wheel drive version of the high-riding five-door to date. Buyers will, of course, continue to be able to opt for all-wheel drive, and both models will get their thrust from a 3.0-liter, turbocharged inline six-cylinder engine. That powerplant makes 300 horsepower and 300 pound-feet of torque and is mated to an eight-speed automatic transmission. BMW says the combination is good enough to get the SUV to 60 miles per hour in around 6.2 seconds.
Those who require more thrust can step up to the more potent X5 xDrive50i with its twin-turbo 4.4-liter V8 engine. Drivers get to enjoy an extra 45 hp over the previous model, with final output up to 445 hp and 480 lb-ft of torque. Paired with an eight-speed automatic of its own, the engine can hustle the big X5 to 60 mph in 4.9 seconds.
The 2014 BMW xDrive35d continues to offer diesel power, though output has dropped 10 horsepower to 255 hp and 413 lb-ft of torque. Even so, BMW says the X5 diesel will be just as quick or quicker than the 2013 model. You can check out the full press release below for more information.