The innovative electric BMW i3 enters the 2023 model year with new tech features and expanded option packages. With high demand for EVs, many shoppers are interested in the latest BMW i3 pricing and deals.
In this detailed guide, we break down MSRP figures for 2023 BMW i3 trim levels. We’ll outline key standard and available features, discuss current lease and financing incentives, and overview ownership costs. Use this as your guide to 2023 BMW i3 prices and finding the right lease or purchase options.
2023 BMW i3 Overview: What’s New
While retaining the same futuristic exterior shape, the 2023 i3 gains some technology and interior enhancements:
- New Curved Display — Floating 12.3” info screen with integrated navigation
- Expanded Packages — New options bundles with added features
- Enhanced iDrive — Latest iDrive 8 operating system
- Additional Colors — New exterior metallic and interior cloth schemes
Pricing sees only minor increases over 2022 models. The i3 continues offering pure electric and range-extending hybrid variants. Let’s look at pricing breakdowns for each.
2023 BMW i3 Trim Levels & Pricing
The BMW i3 is available in two primary trim levels differentiated by powertrain and range capabilities:
TrimBatteryRangePricei342 kWh130 mi$48,300i3 REx42 kWh + REx200 mi$51,500
i3 — The base electric model powered solely by the 42 kWh battery and single rear electric motor. EPA range is rated at 130 miles.
i3 REx — Adds a small onboard 2-cylinder gas “range extender” engine that generates electricity to increase range up to 200 total miles when battery depletes.
Higher packaged versions with added tech and amenities raise prices closer to $55,000. Numerous standalone options also quickly increase the bottom line. Let’s look at key details on standard and available equipment.
2023 BMW i3: Key Features & Packages
Even in base form, the i3 comes well equipped with advanced technology and sustainable materials:
Standard i3 Features:
- Adaptive LED Headlights
- Automatic Climate Control
- Navigation System
- Active Driving Assistant
- DC Fast Charging
- Automatic High Beams
- Leatherette Upholstery
- Front & Rear Parking Sensors
Notable Packages & Options:
- Technology + Driving Assistant Package: Adds adaptive cruise, parking assistant, WiFi hotspot, enhanced Bluetooth, and wireless charging
- Exterior Sport Line: Adds sport front/rear bumper, anthracite accents, sport wheels, and wood interior trim
- Harman Kardon Premium Audio: Upgraded 12-speaker sound system with digital amplifier
- Interior Design Package: Open pore wood trim, cloth/leather combo upholstery, and leather-wrapped dashboard
BMW also offers intriguing “Worlds” packages that add unique exterior color schemes and interior fabric textures.
Latest BMW i3 Lease & Finance Deals
Though BMW leasing on the i3 for 2023 is still TBD, we expect attractive offers comparable to 2022 when factoring in potential federal tax credits of up to $7,500.
Here are some projected lease estimates:
- i3 (electric): Around $349 per month with $4,000 down
- i3 REx (hybrid): Around $399 per month with $4,000 down
Those payments would be based on 36-month leases at 10,000 miles per year and likely require top-tier credit. BMW often runs lease cash incentives that could reduce payments further.
Purchase financing rates on 2023 i3 models will start around 3.9% APR for up to 60 months based on current programs. The best rates require qualified credit scores.
Federal EV Tax Credit Situation
All new i3 models should currently qualify for the $7,500 federal EV tax credit in 2023, unlike some other automakers that have reached the 200,000 vehicle cap. This tax savings can be applied upfront on leases to reduce monthly payments. However, income and tax liability requirements must be met to claim the full $7,500 credit. Consult your tax advisor for specifics.
BMW i3 Ownership Costs
A big consideration for EV shoppers is total ownership costs. Here is a breakdown of estimated annual costs for the 2023 BMW i3:
Battery Electric Costs:
- Electricity: $600 per year (based on average residential rate of $0.15/kWh and 12,000 miles driven)
- Scheduled Maintenance: $500 per year for recommended service
- Tires: $800 (replacement every 50,000 miles)
Gas Range Extender Costs (additional):
- Fuel: $500 per year (based on 30 mpg combined average and 12,000 miles)
- Oil Changes: $150 for 2 annual changes
Insurance, Registration, Tax: Varies by state, typically $1,500 annually
The electric driving range covers most daily commutes without needing the range extender. But it provides peace of mind for longer trips if needed.
Buying Out a Lease: BMW i3 Residual Values
If leasing, you can consider buying out the i3 lease at the end of your term to keep driving it long-term. Edmunds projects the following residual values after 36 months:
- i3 electric: around 45% or $23,500 residual on $48,300 MSRP
- i3 REx hybrid: around 43% or $24,000 residual on $51,500 MSRP
That means your lease buyout price to keep the i3 would be the residual value plus remaining depreciation and fees. Buying can make sense if you get a good long-term finance rate and the car has been well maintained.
Finding the Best BMW i3 Lease & Purchase Deals
In addition to tax credits, you may be able to stack other incentives for extra savings:
- Check current offers at BMWUSA.com which are frequently updated
- Ask dealers to see if they can beat nationally advertised lease/finance rates
- See if you qualify for loyalty discounts if you are currently leasing a BMW
- Consider European delivery to save 7–10% off US MSRP after travel costs
- Join forums like Bimmerpost to connect with i3 owners privy to best deals
Every bit of savings helps improve the effective pricing on BMW’s unique urban electric vehicle.
FAQs
How much range can I expect from the 2023 BMW i3?
EPA range is 130 miles from the battery in the electric i3. The hybrid i3 REx extends range to 200 total miles with the added gas generator.
Does the BMW i3 qualify for the federal EV tax credit?
Yes, the i3 should still qualify for the full $7,500 credit in 2023 unlike some automakers that have phased out of eligibility.
What charging networks is the BMW i3 compatible with?
The i3 is compatible with public DC fast charging networks like Electrify America, EVgo, and ChargePoint up to 50 kW charging speed.
Can the range extender engine directly power the BMW i3?
No, the small 2-cylinder engine only runs as a generator to charge the battery, not to mechanically drive the wheels in hybrid mode.
How long does charging take on Level 2 and fast chargers?
With a 7.4 kW Level 2 charger, a full recharge takes about 7 hours. Fast charging up to 80% takes 40 minutes maximum.
The Electric Future is Here
The 2023 BMW i3 makes a unique statement blending advanced EV technology with sustainable construction. Take advantage of available incentives to put BMW’s fun-to-drive EV hatchback in your garage at an appealing effective price. Catch the electric wave with BMW’s most efficient model yet!
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