AUTO

You Can Lease a BMW i4 for Less Than Your Daily Coffee Budget

November 8, 2024

Lease a BMW electric car for $459/month and upgrade as technology improves.
BMW EV batteries are warrantied for up to eight years or 100,000 miles, often lasting much longer with proper care.
Charging an EV is cheaper than fueling a gas car in all 50 states, saving drivers over $1,000 annually.

For years, potential car buyers have wrestled with the question: Are electric cars truly affordable? The answer is increasingly clear, yes. With falling purchase prices, significant tax incentives, and lower long-term costs, electric vehicles (EVs) are not only within reach for more drivers but can also save you thousands over time.

BMW electric cars, for instance, illustrate how luxury and affordability can intersect, offering enticing leasing deals and financing options that make the switch to electric more appealing than ever.

Beyond the initial sticker price, EVs deliver substantial savings in fueling, maintenance, and ownership costs compared to traditional gas-powered vehicles. Let’s dive into the specifics to see how EVs stack up and why a BMW electric car might be your next smart investment.

Luxury EVs Like the BMW i4 Are Closing the Price Gap

The sticker price, including high interest rates, of an EV has historically been a sticking point for many buyers. However, this gap is rapidly closing. The BMW i4 eDrive40, for example, starts with a manufacturer-suggested retail price (MSRP) of $60,425.

Leasing is another affordable entry point for EV buyers. For instance, the i4 eDrive40 offers a lease payment of $459 per month for 36 months with a $4,005 capitalized cost reduction, putting an all-electric luxury sedan within reach of more consumers.

Similarly, for those looking all-wheel drive and dual electric motors, the BMW iX xDrive50 can be leased for $699 per month. These options show how BMW electric cars provide competitive pricing within the luxury EV market.

BMW i4 electric car at Electrify Expo Washington — _{BMW i4 electric car displayed at Electrify Expo, drawing attention from attendees.}

EV Drivers Save $1,200 Annually on Fuel Costs

Electricity costs less than gasoline across all 50 states. On average, EV owners save approximately 8.1 cents per mile in fuel costs compared to gas vehicles. This translates to about $1,200 in annual savings for typical drivers.

If you charge at home, especially with rooftop solar, those costs can drop to nearly zero. For BMW electric vehicles, like the iX xDrive50, which offers a range of up to 324 miles per charge, the savings add up quickly.

Gas prices, on the other hand, remain volatile and are subject to market fluctuations. Electric rates are generally more stable and affordable, particularly when using time-of-use electricity plans tailored for EV drivers.

BMW Electric Cars Deliver Big Savings on Fuel and Maintenance Costs

EVs like BMW’s all-electric models require less maintenance than gas-powered cars due to their simpler mechanics. There are no oil changes, spark plugs, or exhaust systems to worry about. Regenerative braking systems also reduce wear and tear on brake pads and rotors. Over a vehicle’s lifetime, these factors can save EV owners $3,000 or more in maintenance costs.

BMW electric cars, such as the i4 and i7 models, are designed with durability in mind. Their batteries come with warranties of up to eight years or 100,000 miles, providing peace of mind for long-term owners.

BMW iX all-electric SUV at Electrify Expo

Affordable BMW Electric Car Lease Deals Start at $459/Month

Leasing a BMW electric car is a great way to experience the benefits of EV ownership without committing to a full purchase. BMW offers a range of affordable leasing options across its electric lineup. For instance:

BMW i4 eDrive40: Available for $459 per month with $4,005 due at signing, which equates to approximately $15 per day over a 36-month lease.
BMW i4 xDrive40: Lease for $489 per month with $4,005 due at signing.
BMW i4 M50: Lease payments are $569 per month with $4,795 due at signing.
BMW i5 eDrive40: Offered at $649 per month with $4,925 due at signing.
BMW i5 xDrive40: Lease for $699 per month with $5,025 due at signing.
BMW i5 M60: Available for $879 per month with $5,555 due at signing.
BMW iX xDrive50: Lease for $699 per month with $4,795 due at signing.
BMW i7 eDrive50 Sedan: Lease payments are $999 per month with $5,995 due at signing.

These lease options make driving a BMW electric vehicle accessible and allow you to upgrade to newer models as technology advances. For those considering ownership, BMW also offers a 2.99% APR financing option for up to 60 months, providing a budget-friendly way to buy.

Up to $12,000 in EV Savings, but BMW Electric Cars Miss Out

Federal and state incentives have been crucial in reducing the upfront cost of EVs. Starting in 2024, the federal government offers a $7,500 tax credit as an instant discount on qualifying new EVs, unfortunately not including BMW electric vehicles.

For used EVs priced under $25,000, buyers can receive up to $4,000 or 30% off the vehicle’s price.

State rebates can make EVs even more affordable. In California, for example, programs like Clean Cars for All offer up to $12,000 in additional savings, specifically designed to help low-income families switch to electric vehicles.

Used EV Prices Plummet, Now Starting Under $10K with Tax Credits

The used EV market is booming, with prices dropping by 28% in 2023 compared to the previous year. Used EVs, including older BMW electric car i3 models, are now more affordable than many used gasoline vehicles.

With the added benefit of a $4,000 federal tax credit for used EVs, even budget-conscious buyers can find an electric car that fits their needs. In many regions, used EVs can be found for under $10,000, making them an excellent option for first-time EV buyers or families looking for a second car.

Drive Luxury for Less with BMW Electric Cars

BMW electric cars bring together affordability, luxury, and performance. Lower fueling and maintenance costs, combined with generous incentives and flexible leasing options, make these vehicles an excellent choice. Whether you prefer the i4, the iX electric SUV, or the premium i7 sedan, there is a BMW electric vehicle to match your lifestyle and budget.

Switching to an electric vehicle is a smart financial choice. It is also an investment in a cleaner, healthier future. With a range of BMW electric cars to suit different needs, now is the perfect time to make the switch. Visit CarsDirect to check out the latest lease and finance deals, and see how easy and affordable it can be to drive a BMW electric car today.