Details on Owners Choice?

blackjackmark

I'm in Illinois, one of the three states in which BMW Owner's Choice is offered. I'm looking for info on a purchase of an X3 30e through that program. Would use this instead of a regular lease due to the ability to claim the Federal tax incentive for PHEV.

Interest rate? Other details? I have read the acquisition fee is waived, but also that the interest rate is higher. I also know I'd pay tax on the full amount of the purchase price, but this would be more than offset by the $5,800+ tax credit.

Any info is appreciated.

kyfdx

blackjackmark said:

I'm in Illinois, one of the three states in which BMW Owner's Choice is offered. I'm looking for info on a purchase of an X3 30e through that program. Would use this instead of a regular lease due to the ability to claim the Federal tax incentive for PHEV.

Interest rate? Other details? I have read the acquisition fee is waived, but also that the interest rate is higher. I also know I'd pay tax on the full amount of the purchase price, but this would be more than offset by the $5,800+ tax credit.

Any info is appreciated.

4.09% APR

If you are trading a car in, you could take advantage of a sales tax trade-in credit (pretty much why OC was created).

blackjackmark

kyfdx said:

4.09% APR

If you are trading a car in, you could take advantage of a sales tax trade-in credit (pretty much why OC was created).

thanks! Any other quirks to it? How is the payment calculated? i assume there’s some sort of residual used that ends up being the balloon payment. any ideas as to how to arrive at an approximate payment using the leasehackr calculator?

kyfdx

blackjackmark said:

kyfdx said:

4.09% APR

If you are trading a car in, you could take advantage of a sales tax trade-in credit (pretty much why OC was created).

thanks! Any other quirks to it? How is the payment calculated? i assume there’s some sort of residual used that ends up being the balloon payment. any ideas as to how to arrive at an approximate payment using the leasehackr calculator?

Pretty sure the residual is the same as a lease.

APR is roughly equivalent to .00170 MF.

Should be calculated about the same as a lease.