BMW seems keen on maintaining its sales momentum from the last quarter by offering some pretty sweet incentives both when buying and leasing a new EV.
In Q1 2024, the German luxury automaker saw its all-electric numbers go up by 61% compared to the same period last year. After making the four-door i4 the cheapest car to lease in its portfolio, BMW is now discounting its EVs by up to $10,500 when purchasing and up to almost $13,000 when leasing, according to a dealer bulleting seen by CarsDirect.com.
BMW bets on discounts
BMW slapped consistent discounts on its EV portfolio in the United States that can go up to $10,500 when purchasing and up to $12,900 when leasing.
Until the end of April, the 2024 BMW i4 and i5 can benefit from a $5,000 purchase incentive that buyers can take advantage of either through a loan credit when financing the car through BMW Financial Services or a so-called “Non FS Credit” that applies to cash transactions which don’t require a financing deal through the automaker.
Next are the 2024 BMW i7 and iX, both of which get a $7,500 incentive. But wait, there’s more because the German carmaker is also offering loyalty discounts of $1,000 for the i4, $1,500 for the i5 and $3,000 for the i7 respectively. Put everything together and one could get $10,500 off the price of a new 2024 BMW i7 if all the conditions are met. Buyers on the West Coast who are coming from another EV can also get an extra $1,000 BEV Conquest Credit, so watch out for that, too, if you’re in the market for a new electric BMW.
Furthermore, if leasing is your thing, the deals get even better. The i4 and i5 sedans are eligible for a $7,500 lease credit, while buyers of the i7 and iX can benefit from $9,900 off. Add the loyalty discount and we’re looking at a $12,900 reduction for the flagship i7.
Mind you, the i7’s starting price isn’t exactly affordable at $105,700, but with a $10,500 discount when purchasing, that’s still roughly 10% off the original price, so not bad at all.
