Exactly. This is good for BMW, and that's why they do it. The initial keeper is happy, because it's cheaper for them. ~100% of them will lease it for <4 years,

Exactly. This is good for BMW, and that's why they do it. The initial keeper is happy, because it's cheaper for them. ~100% of them will lease it for <4 years, and you can consult my table to discover this. Subsequent buyers are less happy... but, wait, fuck those guys. When N>0, the Nth owner pays owner N-1, not BMW. So previously BMW would see nothing from these transactions. And now there's a >0% chance these subsequent owners will pay them $80/year. (Many software vendors have been trying to move to a subscription model. They want the recurring revenue. The iOS and Android video game markets have by now almost entirely switched to a free-to-play model - which is basically the same thing, just with a more compelling free sample, so they can sucker in the punters. This is basically the same!) This might make a dent in resale values, but I assume the >0% chance of getting $80/year from future owners makes up for this. I do admit, though, that I really don't have a good feel for how this would play out. Of course, people that buy a BMW with the intention of keeping it for >=5 years will get the shaft.... so I expect you can be sure that they've got good evidence that most keepers of a new BMW get rid of it before that point.