BMW’s compact electrified vehicle:
You have a choice of pure electric and range extender versions of the BMW, the latter adds a small gas generator.
Not all dealers carry the i3, so if you want one, you may need to place an order. However, stock is nearly depleted, therefore obtaining a new one may require your dealer searching far and wide to obtain one. Dealers that do carry the i3 are more likely to stock the Range Extender version as it offers more versatility than the electric-only model.
Our research indicates the i3 won't see a second generation as BMW has new electric vehicles under development. We're not sure if 2020 is the last year or if BMW will continue building the i3 for another year or two. To that end, we're not supplying information on a possible 2021 entry as we do for all other BMW models.
The current offers are in place through September 30, 2020. The next update should roll out at the beginning of October.
Tax credits, rebates, and incentives:
Lease shoppers will find a $7,500 credit applied, lowering their monthly cost. This is a built-in credit that lowers your overall costs whether you lease or finance. Check with your BMW dealer to determine eligibility.
Customers should also know that some states provide additional incentives on top of the federal tax credit. For instance, California drivers gain HOV access.
In addition, Golden State residents will find a Clean Vehicle Rebate of $2,000 depending on your income. The rebate phases out when income reaches $150,000 for single filers and $300,000 for joint filers.
Your BMW dealer has information on special offers for where you live.
Zero-percent financing is here:
Like other BMW models, the i3 comes with a promotional financing offer. This one, though, beats the others as it represents zero-percent financing. Specifically, you'll find 0.0-percent financing for 60 months, which is a fantastic offer.
The current lease offer:
In April, BMW rolled out its first lease offer on the 2020 i3 and this one covers the base model. We've seen some improvement since as payments are now $299 for 36 months with $3,999 due at signing. Your effective monthly cost is $410, making it a fair offer. A 10,000 miles per year driving allowance is in place.