I agree at least years ago when a bmw dealer gave me that option I laughed because I would be taking all the downside risk.
Owner’s Choice only exists in TX, GA… maybe VA. It is like Select, but with choice to return.
So has bmw just not caught on that they are passing along the same incentive (which presumably includes bmw claiming the federal credit which they won’t be able to)?
I honestly don’t know…
If you live in TX, GA or IL you can use Owners Choice.
@LeaserOC it’s the combination or an unusual financial product and PHEVs, and only available in 3 states so it’s a fairly niche thing which I think BMW has either missed or ignored until now.
Yet another reason to leave California for Texas!
Got one!
2018 330e - Melbourne Red Metallic w/ M Sport package
$52,290 msrp - $395 /month, 24 months, zero down
$4001, Federal tax credit, $2500 Texas LDPLIP rebate
$124.12 /month final cost
Thank you Andy!
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Awesome, I bet that one is really sweet to drive!
Hi Andy,
Sent you a PM.
I hope to get this deal as well!
Has anyone considered the Penfed Payment saver option instead of owners choice?
I looked into it. The Penfed loan doesn’t appear to have a return clause, so you’d have to sell the car at the end of the lease or refinance the balloon. So it is riskier, but about 2% lower APR… maybe worth it, but I suspect these 330e’s will depreciate like crazy in the next two years given the new tech in the 2020 version.
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Hi everyone,
People were asking about the Owner’s Choice so here is some info. The part that matters is section 10 of the contract, which describes the borrower’s options at the end of the loan term.
The important option is 3. Return (Sale) Option, which is essentially the same thing as returning a car at the end of a lease. The reason these contracts exist in Texas is option 2, which lets you refinance the loan rather than returning the car and buying it again, as would be the case with a lease, thereby avoiding the second round of taxes on that transaction.
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sent you a pm
Guess I’m moving to TX. It’s hilarious that option 3 is literally a lease agreement. Why this is even an option in Texas is kind of ridiculous, but it completely changes the game for Texans leasing.
yeah I’m amazed no one has hacked an incredible i8 deal here in Texas. If me or my wife paid income tax here to get the tax rebate I would have a range of PHEV BMW’s through Owners Choice for peanuts.
There are no Texas income taxes
I forgot to add that when I bought our 330e Saturday, I brought a friend that bought the same optioned car for almost the same price.
What are the conditions for eligibility? IE if one had an address in TX that they could register the vehicle to, would it violate the Owner’s Choice/balloon loan agreement to register it to a new state the following year (ie if you moved)? Or could you still turn it in once your term is up in 36 months?