Looking for a new all-electric BMW? Well, this might be the deal for you, as the i4 is now the cheapest car to lease in the German manufacturer’s portfolio, with a monthly rate that’s lower than the BMW 2 Series Coupe and 2 Series Gran Coupe, which are BMW’s cheapest cars to buy.
The 2024 BMW i4 eDrive35 is on offer with a $499 monthly payment over 36 months and $4,599 due at signing, as spotted by CarsDirect. This makes the effective monthly cost rise to $627, which isn’t exactly affordable–the Hyundai Ioniq 6 is much more affordable to lease, for instance–but it’s interesting to see that BMW is offering a lower lease rate for a car that has an MSRP of $54,545 compared to the gas-powered 228i Gran Coupe which has an MSRP of $38,400.
The tax credit makes an expensive EV cheaper to lease
The BMW i4 isn’t the cheapest car to buy in the German automaker’s portfolio, but it’s now the cheapest model to lease in the manufacturer’s lineup, with a monthly lease rate of $499 and a down payment of $4,599. This is thanks to the $7,500 lease credit that can be applied by dealers to any EV lease, irrespective of the country that built the car.
According to the lease deal, the $499 monthly payment is based on an adjusted capitalized cost of $42,020 which takes into account a $3,175 capitalized cost reduction, a suggested dealer contribution of $1,850, and the $7,500 lease credit that can be applied to any EV leased in the United States. The car can also be purchased at the end of the lease term for $29,454 plus fees and taxes.
The $7,500 tax credit is the main reason why BMW managed to put forward such a good deal on the i4. By comparison, the gas-powered 4 Series Gran Coupe on which the i4 is based has a starting MSRP that’s roughly $4,000 lower than its electric sibling but at the same time the lease offer for the 4 Series amounts to an effective monthly fee of $808.
The i5, which is larger and more expensive than the i4, can be leased for $699 per month for 36 months with $6,599 due at signing. That’s an effective monthly payment of $882.
The BMW i4 eDrive35 is powered by a single rear electric motor that makes 282 horsepower and 295 pound-feet of torque. It draws energy from a lithium-ion battery pack that enables a maximum EPA-rated driving range of 276 miles on a full charge.
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