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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.

Nokia Here Purchased by BMW, Audi, Daimler | Autoblog Minute

In a three company partnership the German automakers BMW, Audi and Daimler are set to take ownership of Nokia?s Here mapping technology. Audi BMW Autoblog Minute Videos Original Video Nokia nokia here

BMW i gets in on ridesharing with Scoop investment

The ridesharing investments are starting to roll in quickly now, and BMW i Ventures is the latest to drop some cash to get in on the trend. The automaker's venture-capital arm put an undisclosed amount of money into Scoop, a ridesharing platform based in California and operating in the Bay Area. BMW i's investment in Scoop Technologies is part of a $5.1 million seed round that included several other firms. It follows news that VW put $300 million into a service called GETT and that Toyota has partnered with Uber for ridesharing and leasing. There's also GM's $500 million investment in Lyft and its own car-sharing service, Maven. Automakers may soon run out of startups to pump money into. Oh, and don't forget about Apple's billion-dollar investment in Didi Chuxing, the Chinese Uber. Scoop's app is designed to let commuters find each other and drive together to reduce traffic, something the Bay Area and California in general can benefit from; then there's the added bonus that packing more people into a car unlocks access to the carpool lane. Scoop also partners with employers, like Cisco, to help people that are all going to the same place get to and from work. Employers can subsidize the cost of the rides as a perk and to encourage the app's use. And because plans can change, there's a ride-home guarantee that will reimburse you for costs getting home if you find yourself stranded. The service launched in 2015 in Pleasanton, CA, and is still in a limited rollout that includes San Francisco, Palo Alto, Sunnyvale, and North San Jose. It's not clear how or if BMW i will integrate the tech into its vehicles. This could just be an investment to get a foothold into a young ridesharing company, or it could be a sign that BMW wants to build the app's functionality into i cars. Related Video: