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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.

Why won't automakers slap on a turbo badge anymore?

Where have all the turbos gone? Not the actual pieces that go in the engine, mind you, those are everywhere these days as automakers downsize cylinder counts and boost efficiency and CO2 claims. But the turbo badges and fanfare are missing. Back when turbos were something to get excited about there was "turbo-driven," "turbonium," and "The Turbo Zone," among other silly lines. But now that basically every car is getting some sort of boost even on the lowliest trims, automakers are almost sliding in the turbos under the radar. Or if you look at some of the nomenclature, pretending they don't exist at all. The 911 Turbo badge shows where the car goes from being sane to lunatic. It's an important border. The latest automaker to hide that it has boosted the turbo presence is Porsche with the 2017 911 lineup. Even the standard Carrera models now get turbocharged flat-six engines, meaning the 911 Turbo models aren't quite as special as they once were. Porsche is in a sticky situation with this. The 911 Turbo, after all, signifies where the 911 family takes off from being a sports car and becomes the Ferrari fighter. The 911 Turbo badge shows where the car goes from being sane to lunatic. It's an important border, but now Porsche has crossed it and is trying to downplay the fact. There are a lot of exaggerations with displacement badges today, with claims the 2.0-liter turbo four in a Mercedes C Class equates to a naturally aspirated 3.0-liter six to make a C300. Volvo is pretty far up there, too, saying an XC90 T8 means V8 power, even though it's a 2.0-liter turbocharged and supercharged four with electric assist. I don't know why BMW can't just call the car a 330i Turbo, rather than inflating the numbers up to 340i. Saab tried all of this back in the '90s when it decided to turbocharge its entire lineup, from light pressure units all the way up to models actually called "Saab 9-3 HOT" (for high-output turbo). But then the brand deleted any external reference to the turbo under the hood and people wondered why they were buying a $42,000 four-cylinder convertible. And that didn't turn out well. Even though these turbo replacements often make more power than their naturally aspirated predecessors, they're very different engines. People knew something changed when they exchanged their leased 328i with a 3.0-liter six for a 328i with a 2.0-liter turbo four.

Driving the BMW M2 Competition, Honda Odyssey and Toyota RAV4 Prime | Autoblog Podcast #651

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick. This week, they talk about driving the BMW M2 Competition, Honda Odyssey and Toyota RAV4 Prime. Then they discuss James' experience testing the new Yakima CBX cargo carrier, Autoblog readers' preference for the GMC Hummer EV over the Tesla Cybertruck, and Mercedes-Benz taking a larger stake in Aston Martin. Lastly, they help James' father find a new car in the Spend My Money segment. Autoblog Podcast #651 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2020 BMW M2 Competition 2021 Honda Odyssey 2021 Toyota RAV4 Prime Testing the Yakima CBX Cargo Carrier on the Subaru Outback 75% of Autoblog Twitter follower prefer the GMC Hummer EV over the Tesla Cybertruck Mercedes-Benz to boost stake in Aston Martin to 20%, lend it some tech Spend JamesÂ’ fatherÂ’s money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: