You Can Get Up To $10,500 Off When Buying A New BMW EV

2024 BMW i5 M60 xDrive Review

Leasing a new EV from BMW can bring even more savings.

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.

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.

More EV Deals

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.

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