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. 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.
The current offers are in place through June 1, 2020. Starting in April and extending to the end of June, BMW is allowing buyers to defer their first monthly payment for 90 days. This represents just one part of how the company is responding to the COVID-19 pandemic.
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.
Promotional financing returns:
Like other BMW models, the i3 comes with a promotional financing offer. This one aligns with what BMW has in place for its other models. Specifically, you'll find 0.9-percent financing for 60 months, which is nearly two points lower this month.
For well-qualified buyers who are able to negotiate a contract with their dealer, loans of 72 months or less can qualify for a 90-day deferral on the first month's payment.
The current lease offer:
Last month, BMW rolled out its first lease offer on the 2020 i3. This one is for the Base model and comes in at $309 for 36 months with $3,999 due at signing. Your effective monthly cost is $420, making it a fair offer. A 10,000 miles per year driving allowance is in place.