BMW I4 car prices updated today
The BMW i4 ushers in a new era for the brand as their first all-electric sedan. Expected pricing puts it right in line with comparable high-end EV and gas-powered models. We break down MSRPs, available savings, and long-term costs on BMW's important i4 EV.
BMW is looking to stake a claim in the burgeoning luxury EV space with the new i4 sport sedan. This electric-only model offers buyers a driving experience on par with the brand's renowned gas-powered sedans, but with instant torque and smooth power delivery from its electric motor.
Pricing for the i4 EV positions it alongside competitors like the Tesla Model 3 and Mercedes EQE, while overlapping with gas-powered BMWs like the 3-series. Let's examine BMW i4 pricing, savings opportunities, operating costs, and how it stacks up to rivals.
BMW i4 Pricing Overview
The 2023 BMW i4 is offered in two main trim levels with different battery packs and electric motors. Prices start at:
- i4 eDrive40 - $55,400 MSRP
- i4 M50 - $66,100 MSRP
These base MSRPs land above the Tesla Model 3 and Mercedes EQE 350, but in the same realm as the Audi e-tron GT. Incentives and savings can provide some relief (more later).
Building on the eDrive40 with options can push the price over $65,000. The powerful M50 crosses into $70,000+ territory when loaded up. Let's look at what you get at each trim level.
BMW i4 eDrive40 Pricing and Specs
The i4 eDrive40 serves as the entry point to the model line. Key details include:
- Single electric motor (rear-wheel drive)
- 335 horsepower
- 300 miles of EPA range
- 0-60 mph in 5.7 seconds
- 18" wheels, panoramic moonroof, power front seats standard
With plenty of range and 0-60 acceleration on par with gas counterparts, the eDrive40 provides an accessible starting point before stepping up to the M50.
BMW i4 M50 Pricing and Specs
For maximum performance, the dual-motor i4 M50 adds:
- Dual electric motors (all-wheel drive)
- 536 horsepower
- 0-60 mph in 3.9 seconds
- 19" wheels, sport brakes, sport seats, Harman Kardon audio standard
The M50 shaves nearly 2 seconds off the 0-60 time while adding confidence-inspiring AWD traction. Adaptive suspension and styling enhancements elevate the experience further.
Here is a comparison of i4 eDrive40 vs i4 M50 specs:
| Spec | i4 eDrive40 | i4 M50 |
|---|---|---|
| Electric Motor(s) | Single / Rear-Wheel Drive | Dual / All-Wheel Drive |
| Horsepower | 335 hp | 536 hp |
| 0-60 mph Time | 5.7 seconds | 3.9 seconds |
| Range | 300 miles | 270 miles |
| Starting MSRP | $55,400 | $66,100 |
How Does BMW i4 Pricing Compare to Tesla and Mercedes EVs?
The German luxury EVs all land in a similar pricing realm, slightly above the Model 3:
- Tesla Model 3 - $46,990 to $61,990 MSRP
- Mercedes-Benz EQE 350 - $74,050 MSRP
- BMW i4 eDrive40 - $55,400 MSRP
- BMW i4 M50 - $66,100 MSRP
- Audi e-tron GT - $102,400 MSRP
The i4 strikes a balance between the Model 3 and pricier EVs, while slightly undercutting the EQE. But savings opportunities can shift the equation.
Federal Tax Credit and Incentives Reduce Effective BMW i4 Pricing
Though its MSRP may seem high, the i4 benefits from incentives to lower your real out-of-pocket price:
- $7,500 federal tax credit - Full credit through end of 2022, phases out after. Goes towards your IRS tax bill.
- State rebates - Up to $2,000 back in certain states like CA, NY, CO, CT.
- Utility company rebates - Some offer $1,000+ for buying an EV.
- No gas costs - Save $2,000+ a year for drivers coming from a gas car.
Factor incentives in when comparing costs versus gas cars and Tesla. The i4 can pencil out competitively.
Lease Deals Can Further Reduce BMW i4 Monthly Payments
In addition to purchase incentives, BMW frequently offers attractive lease deals on the i4 to lower payments:
- Low money factor rates (interest)
- Low capitalized cost reduction (down payment)
- BMW lease loyalty discounts
- High residual values keep payments down
Leasing an i4 largely eliminates concerns about long-term battery life or resale value after your term. Look for national and regional lease specials.
Here is a comparison of current lease offerings on the i4 to show the savings over buying:
| Lease Terms | BMW i4 eDrive40 | BMW i4 M50 |
|---|---|---|
| Monthly Payment | $549 | $779 |
| Down Payment | $3,999 | $5,999 |
| Term Length | 36 months | 36 months |
| Incentives | $3,000 lease cash | $4,000 lease cash |
Cost Saving Tips For Buying a BMW i4
Beyond incentives, you can leverage other strategies to get the lowest price:
- Negotiate with dealers - Use quotes from other dealers as leverage for best price.
- Shop end of model year - Deals tend to be better as the year wraps up.
- Choose lighter colors - You'll often save on popular colors like black and white.
- Minimize options - Skip extras you can purchase later to reduce MSRP.
- Lease instead of buy - Leases insulate from depreciation and opportunity costs.
With preparation and research, you can minimize the out-of-pocket hit on the i4 despite its luxury brand pricing.
BMW i4's Lower Operating Costs vs Gas Cars
The biggest savings from buying an EV happen down the road. Ownership costs to factor:
- No gas costs - EV driving is like buying gas at $1 per gallon. Huge savings over 10+ gallons weekly.
- Lower maintenance - No oil changes, engine air filters, spark plugs, etc. to buy.
- Reduced brake wear - One pedal driving means less use of friction brakes.
- No emissions testing - EVs exempt from smog testing charges in most states.
- Lower electricity costs - Charging overnight at home costs significantly less than gassing up.
- HOV access - Drive solo in HOV lanes in some states, saving time.
While they carry a higher upfront price, EVs pay dividends down the road with lower operating costs.
Foregoing Gas Savings Makes the BMW i4 Cost Competitive
Factoring in incentives along with gas savings really reduces the effective cost of choosing an EV:
BMW i4 eDrive40
$55,400 MSRP -$7,500 tax credit -$2,000 state incentive $45,900 net price
Plus $2,000+ annual gas savings = further discount over time
BMW 330i
$45,500 MSRP Requires $2,000+ in annual gas costs Effective price advantage of i4 grows with gas savings
Consider the total cost of ownership rather than just MSRP when comparing EVs to gas models.
BMW i4 Charging Options and Costs
Charging an EV isn't as quick or easy as gassing up, but offers options:
Home Charging
- Level 2 charger (240V) provides full charge overnight
- Installation costs $1,000-$2,000
- Electricity costs approx $700 a year
- Convenient overnight charging at home
Public Charging
- DC fast chargers provide 80% charge in 35 minutes
- Used for travel and trips
- Pay per charging session (costs vary)
BMW Charging Network
- Access to nationwide EVgo charging network
- Enables fixed-rate fast charging for travel
The i4 provides flexibility based on your driving needs. Home charging works best for daily use.
Here's a comparison of home charging vs fast charging for the i4:
| Charging Method | Charge Time | Cost | Convenience |
|---|---|---|---|
| Home (240V Level 2) | 0-100% overnight | Low per kWh | Very convenient |
| Public DC Fast Charger | 10-80% in 35 min | Premium per session | For travel |
BMW i4: How Much Does Full Coverage Insurance Cost?
Due to their higher upfront cost, EVs typically cost more to insure than equivalent gas cars:
- Comprehensive coverage - Covers vehicle theft and damage - About $150/month
- Collision coverage - Covers vehicle accident damage - About $250/month
- Total insurance for an i4 can run $350-$450/month through major carriers.
- EVs are generally 15-30% more to insure than gas counterparts.
To protect your investment in a new i4, be prepared for higher premiums than an equivalent 3-Series. Get quotes.
Out-of-Warranty BMW i4 Battery Replacement Cost
Battery replacement remains a major future cost to consider on EVs:
- Battery replacement - $15,000 - $20,000 out of warranty
- Capacity loss - Gradual 5-10% range loss over 10+ years is normal
- Calendar life - BMW warrants batteries up to 10 years based on date of first use
To avoid expensive down-the-road battery replacement, consider leasing an EV or buying an extended warranty for peace of mind.
BMW i4 Resale Value and Depreciation
Like most EVs, the i4 is projected to depreciate faster than comparable gas-powered BMWs:
- 3 year value retention - Estimated at 50%, vs. 60% for gas BMW sedans
- 5 year retention - Drops to 36% vs. 49% for equivalent gas models
- Quick improvements in EV range and tech hastens depreciation
Leasing can eliminate resale value concerns. For buyers, expect the i4 to likely have lower future residual value than a 3-Series.
BMW i4 vs Model 3: 5 Year Total Cost of Ownership Comparison
Over a 5 year ownership period, here is how costs shake out:
| Cost | BMW i4 | Tesla Model 3 |
|---|---|---|
| MSRP Purchase Price | $55,400 | $46,990 |
| Incentives | $9,500 | $9,500 |
| Electricity (Home) | $3,500 | $2,500 |
| Maintenance | $1,500 | $1,000 |
| Insurance | $22,500 | $18,000 |
| Total 5 Year Cost | $72,400 | $59,990 |
The i4's higher purchase price is offset somewhat by lower running costs over time. But overall the Model 3 pencils out as the better value.
FAQs
How much does the BMW i4 start at?
The i4 eDrive40 has an MSRP of $55,400 before incentives.
What incentives are available on the i4?
You can qualify for the $7,500 federal tax credit plus state and local rebates.
How much does it cost to charge the i4?
Home charging with a 240V Level 2 charger costs around $700 per year. Fast charging is more expensive.
How much is insurance on an i4?
Expect to budget $350-$450 per month for full coverage from major insurance providers.
Does the i4 have lower maintenance costs?
Yes, EVs have fewer parts to service and maintain over gas vehicles.
Verdict: Is the BMW i4 Worth the Price?
The BMW i4 makes a compelling case among luxury EVs, but with some caveats:
Positives
- Classic BMW driving dynamics
- 300+ miles of EPA range
- Eligible for federal tax credit savings
- Lower maintenance and electricity costs
Downsides
- Higher price than Model 3
- Unknown long-term battery reparability
- Likely faster depreciation than gas BMW sedans
For loyal BMW shoppers who value the brand experience, driving feel, and want to make the EV switch - the i4 earns its premium pricing against the luxury competition. But budget-focused buyers may still prefer a Model 3 or base Porsche Taycan.
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