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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.

2014 BMW 2 Series configurator drifts online

Monday marked the official, live unveiling of the 2014 BMW 2 Series. Not a company to rest on its laurels, BMW has unveiled the online configurator for the replacement to the much-loved 1 Series. Potential customers can select from either the 228i or go all-out and get the M235i. We shouldn't have to explain which car we've been building all day.
As a recap, a base 228i starts at $32,100 not counting a $925 destination charge. It includes 240 horsepower, 258 pound-feet of torque and, when optioned with the six-speed manual rather than the eight-speed automatic, a perfect 50/50 weight distribution (the 8AT balances at 50.3 in front and 49.7 in back). The M235i, meanwhile, starts at $43,100 (although you can't actually buy one for that, because the configurator forces you into a $1,450 Dakota leather interior). It offers up significantly more grunt, with 320 hp and 320 lb-ft from its 3.0-liter, turbocharged straight six.
Click over to the configurator and play around.

Driving the Honda Ridgeline and marveling at Tesla | Autoblog Podcast #638

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Associate Editor Byron Hurd. They start off talking about why more people should buy the Honda Ridgeline, because it's a pretty darned good truck. Next, Byron talks about some Hyundais. He shares his experiences with the 2020 Sonata Hybrid and talks briefly about the prototype 2021 Elantra currently occupying his driveway. Up next, Jeremy shares his feelings about the BMW X1 crossover he spent some time with, prompting the gang to mull over the notion of BMW's modern interpretation of "Ultimate Driving Machine." After that, Byron talks about towing his 1990 Mazda Miata with the 2020 Infiniti QX80, and then they wrap up with some discussion of the mystery surrounding the Ford Maverick and some comments on the current state of Tesla. Autoblog Podcast #638 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 Hauling dirt with the 2020 Honda Ridgeline Driving the 2020 Hyundai Sonata Hybrid Discussing the 2021 Hyundai Elantra Driving the 2020 BMW X1 Towing a 1990 Mazda Miata with a 2020 Infiniti QX80 News Ford Maverick tailgate stamping leaks; we may see the whole thing in 2021 Tesla reports profit for fourth straight quarter, setting it up to join S&P 500 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: