Luxury EVs often come with eye-watering price tags when new, especially from premium German brands. But once depreciation kicks in, the story changes quickly, turning cars that once felt aspirational into surprisingly attainable used bargains.

Originally priced well into the $50,000–$60,000 range, this compact electric sedan can now be found for nearly the same money as a new Toyota RAV4, despite offering far more performance, technology, and cabin refinement. Even against newer “budget luxury” models like the Toyota Crown, it feels like a class above in almost every meaningful way.

That combination of steep early depreciation and strong underlying product makes it one of the most compelling used EV buys on the market. For shoppers willing to look past the new-car showroom appeal, it delivers genuine luxury, strong range, and real driving character at a fraction of its original cost.

A 3-year-old BMW i4 can now be had for less than a new RAV4

Genuine luxury, thrilling performance, and a mainstream price

On average, German cars depreciate quite quickly in their first couple of years on the road. Electric vehicles also have some steep depreciation after they hit the dealership floor. Put the two together, and you have a vehicle that isn’t going to hold its value well. While this isn’t great news for owners who bought new, it means that you can get a pretty pristine EV, like the 2023 BMW i4, for an almost unbelievably low price.

2023 BMW i4 average used price

When new, a 2023 BMW i4 would have cost between $52,995 and $69,695, depending on which trim you opted for. This means that in three years the electric sedan has lost around $20,000 in value, which is no small amount. While you won’t be immune to continued depreciation, the first three years are definitely the harshest. Either way, it’s hard to argue with an electric luxury sedan at the same price point as a Toyota RAV4. As we will dive into, the i4 also feels leagues ahead of Toyota’s budget luxury sedan, the Crown, which starts at $41,440.

While the M50 is definitely the most tempting option, we think that most buyers will find themselves more than pleased with the eDrive40. It comes with a lot of the same equipment that you get in the base eDrive35, but it gets a more powerful electric motor and a larger battery pack. As with any BMW, a lot of desirable features were offered as optional extras, including things like ventilated seats, wireless charging, adaptive cruise control, or the Harman Kardon sound system.

If luxury and tech are what you’re after, BMW outdoes Toyota’s Crown

For less money, you get a much fancier cabin

The Crown is positioned as an affordable alternative to compact luxury SUVs, coming with a lower starting price and thrifty hybrid powertrain. However, the used market always comes out ahead when it comes to value for money, and the i4 proves it. Instead of a budget-luxury interior, BMW’s electric sedan feels truly upscale, and comes fitted with some fantastic features.

Interior dimensions and comfort

Where the gas-powered 4-Series is offered as a two-door coupe or a four-door Gran Coupe, the i4 only comes in the four-door arrangement. The one area where we feel like this EV falls down a little bit is interior space. While those up front have plenty of room, the back seats are a little cramped. The trunk isn’t massive either, but the hatchback opening makes it easy to load and unload things.

If you test drive one and find that it has enough space for your needs, then you’ll be quite pleased with just how plush it feels on the inside. It is richly appointed and comes with a variety of different upscale materials. Depending on the model you’re looking at, you might find things like rose gold metal, white leather, or light wood. You get all the niceties that you would hope for here, including leather upholstery, heated seats, and ambient interior lighting.

Infotainment and technology

The i4 was one of the first models in the BMW lineup to come with the massive dual-screen setup on top of the dashboard. While it launched with iDrive 8, over-the-air updates have made iDrive 8.5 available. The system features a 14.9-inch infotainment screen which pairs with a 12.3-inch digital gauge display. The infotainment system can be controlled via touch inputs or the rotary dial mounted on the center console.

Every model comes with wireless Apple CarPlay and Android Auto, as well as a Wi-Fi hotspot. If you like your modern tech, you’ll want to make sure that the model you’re interested in comes equipped with the optional smartphone wireless charging pad and the heads-up display. Also optional is a fantastic 16-speaker Harman Kardon sound system.

The i4 delivers strong performance, impressive range, and fast charging

Meanwhile, the Crown is a notably mundane hybrid

Credit: BMW

BMW has always been known for their strong balance of comfort and performance, and they have carried this ideology forward into their lineup of electric vehicles. The i4 feels like a BMW in a lot of the ways that matter, while being pretty successful at all the EV stuff. It is quick off the line, comfortable, and offers more range than you might expect.

Performance specifications

Base Trim Engine

Electric

Base Trim Transmission

Single Speed Automatic

Base Trim Drivetrain

Rear-Wheel Drive

Base Trim Horsepower

335 hp

Base Trim Torque

317 lb-ft

Fuel Economy

109/108 MPG

Make

BMW

Model

i4 Gran Coupe

Segment

Compact Luxury Sedan

The eDrive35, eDrive40, and M50 all come with distinct setups. Both the eDrive35 and eDrive45 feature a single-motor setup, which sends power exclusively to the rear wheels. The former produces 281 horsepower while the latter puts down a more impressive 335 horsepower. The M50 is for those looking for something a little more sporty, though, making a whopping 536 horsepower and 586 pound-feet of torque.

While the M50 is definitely the quickest model, getting up to 60 miles per hour in as little as 3.3 seconds, we think that most will find the eDrive40 quick enough, doing the same run in 4.4 seconds. While there is no denying that you can always feel the weight of the hefty battery pack through corners, the BMW’s low center of gravity allows it to move quite gracefully through twisty sections of road. Slow it down, and you’ll be impressed with how smooth and quiet it is.

Efficiency, range, and charging

Both the eDrive40 and the M50 feature a decently sized 83.4-kWh battery pack. The more affordable eDrive35 comes equipped with a 68.7-kWh battery pack, which explains its lower expected range. Considering the amount of performance that both the higher trim levels put down, we’re really impressed with just how efficient they are and how far they can go without topping up.

As well as having a smaller battery, the eDrive35 also charges slower, with a max rate of 180-kW. Using the on-board Level 2 charger, it’ll take approximately eight hours to charge the 68.7-kWh battery. Models with the larger battery packs can charge at a rate of 200 kW. When fast charging, BMW claims you can add between 88 and 108 miles of range in ten minutes.

While the hybrid Crown offers some pretty decent fuel savings, the i4 does better by not needing fuel at all.

If you shop for a used EV, you don’t have to settle for “budget luxury”

Buying new is becoming harder and harder for buyers on a budget to justify, especially when you’re wanting to dip your toe into the luxury market. Even when a car is marketed as delivering luxury on a budget, like the Crown, it is still out of the price range of a lot of people. However, if you let depreciation work to your advantage, you can get some pretty stellar vehicles for far less money.

The i4 suffers from some pretty heavy depreciation in its first couple of years on the road, due to the fact that it is both German and electric. Because of this, you can get some lightly used, low-mileage examples for what feels like a steal. Instead of grabbing something new, you can spend less money and get something truly luxurious.