With the impending cancellation of the $7,500 Federal tax incentive for EVs on September 30, BMW has joined other automakers in further discounting their newest EVs to get interested buyers to sign sooner rather than later.
Buyers can get thousands off a new BMW i5 if they buy before Oct. 1.
Loyalty bonuses, “conquest” bonuses, and other incentives are being added to drive sales before the tax incentives disappear. While these incentives are often used to clear out inventory in preparation for new models, the looming loss of EV tax credits has spurred automotive manufacturers to apply those bonuses even to the incoming 2026 models that will be impacted by the tax changes. Additionally, BMW’s financial arm is offering financing rates as low as 3.99% for up to 60 months on the 2026 i5, i7, and iX models. If you want to go for the beefier XM plug-in hybrid, buyers can snag a 4.99% APR 60-month rate.
According to CarsDirect.com, “BMW typically offers loyalty programs on its EVs, but it announced a relatively unusual program earlier this summer. BMW dealers now have the choice of adding an additional $1,000 loyalty contribution on select 2026 EVs. The i5 and i7 are offered with $1,000 and $4,000 loyalty bonuses, respectively, meaning if you drive a BMW and your dealer opts to tack on the extra bonus, you could save $5,000 on a 2026 i7. These loyalty programs are good when buying or leasing.
BMW’s i7 can qualify for great discounts whether buying or leasing.
There’s also a $1,000 conquest bonus available for drivers of eligible EVs and PHEVs from other brands. This program is stackable with other offers.”
Alternatively, BMW offers a significant loan credit of $5,000 for the i5 and $7,500 for the i7 when using BMW Financing. But should you opt for financing through a third party, BMW may still offer a $7,500 cash purchase credit for the i7.
Prefer to lease? Then you can get even bigger rebates. Buyers can get up to a $9,900 credit when leasing the 2026 i5, i7, or iX. Still hankering for an XM? You can snag a $7,500 credit for a lease.
BMW’s flagship XM can be a bit more affordable with the current incentives.
Keep in mind that these incentives may change or disappear along with the tax incentives that disappear Sept. 30.
Tags: Discounts EVs leasing rebates