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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.

On Location in California with BMW and Mini

A mid-winter escape from frigid Michigan to drive a trio of new BMW and Mini products? It'd be a busy couple of days, but you can't argue with Southern California in February. The temperatures in LA, where we drove the Mini Cooper S Convertible, hovered in the mid-80s, and it was solidly in the 70s further north, at Monterey, where we drove the M2 and X4 M40i. The highlight of the trip was Mazda Raceway Laguna Seca, which is a rewarding track to drive in a street car. The M2 was a blast there. The canyon roads above Malibu in the Mini were a close second, but even the lazy drive down the PCH to Big Sur was a blast. More important is the California state of mind we were in when driving all three of these cars. I've spent a lot of time in this state, and it has a complicated relationship with the car – and there's also a huge difference in attitude between the greater Bay Area and Southern California. Ample sun and twisty roads clash with image-consciousness, eco-consciousness, and brutal urban gridlock, and each BMW dealt with that paradox admirably, in its own way. Take a quick jaunt to California with me and check out the locations and experiences that helped form our impressions of these vehicles: the 2016 BMW M2 First Drive, the 2016 Mini Cooper S Convertible First Drive, and the 2016 BMW X4 M40i Quick Spin.

Recharge Wrap-up: BMW i3 gets Super Bowl bump; CA funds EV readiness

Super Bowl ads sparked interest in the BMW i3 for car shoppers at Edmunds. Analysts at the automotive website reported that traffic increased for the BMW i3 by 583 percent by the end of Super Bowl XLIX, second only to the Mercedes-Benz AMG GT (up a whopping 2,189 percent). Having aired its ad in the first half of the game, the BMW i3's traffic increased 1,807 percent during halftime, while the BMW i8 saw a 501-percent spike during the same period. Read more in the press release below. Mahindra is making progress with the GenZe electric scooter and electric bicycles in Portland, Oregon. While no official launch date for the GenZe has been set for Portland, Mahindra is holding events and offering test drives. The GenZe 2.0 will start at $2,999, and offers over 30 miles of range per charge. Mahindra sees Portland as a good resource for technology and design partners as it pursues electric urban mobility. Read more in the interview with Mahindra's Yesim Erez at Portland Business Journal. The California Energy Commission will award nearly $1.3 million in Zero Emission Vehicle Readiness grants. The grants will go toward three categories: Plug-in Electric Vehicle (PEV) Readiness Plan Implementation, PEV Readiness Plan Development and Fuel Cell Electric Vehicle Readiness. The funds will go towards projects like installation of EV chargers, permitting and inspections, developing local codes, EV promotion and creating hydrogen infrastructure plans. Each grant awarded will be worth between $50,000 and $300,000. Read more at Green Car Congress. Super Bowl Advertisers Mercedes-Benz and BMW See Biggest Increases in Car Shopper Interest on Edmunds.com SANTA MONICA, Calif., Feb. 2, 2015 /PRNewswire/ -- Mercedes-Benz and BMW saw the most significant spikes in traffic on Edmunds.com after their ads ran during Super Bowl XLIX, according to a real-time analysis by the car shopping website. By the end of the game, the Mercedes-Benz AMG GT had the biggest cumulative spike in traffic, with a 2189% jump over previous Sunday averages on Edmunds.com. The BMW i3 captured the second most buzz on Edmunds.com; its cumulative traffic climbed 583%. "Even though these two advertised vehicles are likely to be sold in small volume to niche audiences, the BMW and Mercedes brands will enjoy the overall buzz they have generated, especially as both continue their efforts to grow their overall reach into new car shopper segments," said Edmunds.com Sr. Analyst Jessica Caldwell.