The BMW i4 Is Now The Cheapest BMW To Lease In The U.S.

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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.

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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