BMW Car Finance Deals

  • Affordable Monthly Payments
  • Get approved in 60 seconds
  • Freedom to Choose Different Types of Vehicles
  • Fixed Interest Rates
  • Completing a search doesn't affect credit score
  • Flexible Terms
BMW

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MW is a well-known luxury car brand. It is famous for giving a special driving experience. This experience includes great performance, high-quality craft, and modern technology. If you want the sporty feel of a BMW 3 Series, the comfy feel of a BMW 5 Series, or the flexible choice of a BMW X3, there are several finance options. These options can help make owning one of these premium cars easier for you.

With flexible finance options like Personal Contract Purchase (PCP), Hire Purchase (HP), and Business Contract Hire, you can enjoy a BMW with low monthly payments. You don’t have to commit to full ownership for a long time. These options help you choose a plan that fits your budget and lifestyle. You can feel the excitement of driving a BMW without high upfront costs.

No matter if you are looking at a new model or a used BMW, the right financing option can let you enjoy the luxury and performance of this top brand at a price that fits your budget.

Key Facts

  • Over 116,000 BMWs sold in the UK in 2023.
  • BMWs hold 50-60% of their value even after three years.
  • 80% of BMW cars in the UK have been financed.
  • 90% of people using PCP choose to do part exchange.
  • The average cost of car finance in the UK is £25,000. In places like Glasgow and London, it is more than £26,000.
Luxury Car Sales in UK

Popular BMW Models on Finance

BMW 3 Series

The BMW 3 Series is a well-loved compact executive car. It is known for its lively performance and smart technology. This model is one of the top sellers in the UK. In 2023, over 116,000 BMW cars found homes in the UK, making BMW very popular. If you want a car that is both agile and stylish, the 3 Series is a great choice. There are finance deals like BMW Select, which makes monthly payments easy. You can also think about part exchange if you want to upgrade to newer models. This includes options like the M Sport version or the plug-in hybrid.

BMW 5 Series

The BMW 5 Series is a great choice if you need a fancy and roomy car. It has top technology and a smooth driving feel. It is well-known for being powerful and has a high safety rating from Euro NCAP. This makes it perfect for long drives and trips, as it combines style, comfort, and trust. You can check out BMW Financial Services to find the best offers on BMW Personal Contract Hire (PCH) or BMW Hire Purchase, depending on whether you want to lease or own your car.

Depreciation Over 3 Years for Luxury Car Brands

BMW X3

The BMW X3 is a wonderful choice for families and anyone who likes flexibility. It is a compact SUV that offers both practicality and good performance. The inside is roomy and comes with all the latest features. The X3 balances function and luxury very well. Finance options such as Hire Purchase or PCP help to make costs easier to handle. This way, you can enjoy the advantages of an SUV along with BMW’s famous driving feel. Also, the X3 keeps strong resale value, holding about 50-60% of its original price after three years. This makes it a smart choice for financing.

Why Finance a BMW?

Financing a BMW comes with several benefits, especially for people living in the UK. BMW is known for its innovation, performance, and luxury. This makes these cars a favourite among drivers. Whether you go for a new BMW or a used one, BMW cars keep their value over time. This makes them a wise choice for those in personal contract hire and business contract hire.

BMW cars are famous for being reliable. They have advanced safety features, like BMW ConnectedDrive technology. This tech gives you real-time traffic updates and helps with driving. If you choose to finance, you can get premium options. This includes M Sport trims, electric car models, and smart in-car technology, all without paying the full price right away.

Soft Search Car Loans

Soft search car loans, also known as no impact credit search car finance or pre-approval soft search car loans, allow you to check your eligibility for vehicle finance without affecting your credit score.

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BMW on PCP Finance

Personal Contract Purchase (PCP) is a common way to pay for a BMW. With PCP, you only pay for how much the car loses value instead of its full price. This leads to low monthly payments. When you get to the end of the agreement, you have several choices. You can return the car, make an optional final payment to own it, or use the value of the car to start a new finance agreement.

PCP deals give you flexibility. You can change the terms based on your yearly and contract mileage needs. This way, you can drive a new BMW without having to pay a lot of money upfront. Just be careful of any extra charges for going over your mileage limit. Also, make sure to check the vehicle condition when you return it to avoid extra costs.

BMW Financing Options in UK

BMW on HP Finance

For people who want to own their BMW fully, Hire Purchase (HP) is a good financing choice. With HP, you make regular payments over a set period. At the end of the contract, the car is yours. There are no mileage restrictions like there are with PCP. This means you can drive as much as you want without worrying about excess mileage fees.

HP provides a simple way to finance your vehicle. There is no optional final payment at the end of the contract. This option is great for people who want long-term ownership and fixed monthly payments. You can use Free Price Compare to find the best HP deals for the BMW model you like.

BMW Car Finance for Business Users

If you own a business or want to finance a BMW for your company, consider business contract hire. It is a great choice. There is none of the hassle of ownership. Business users can enjoy tax benefits while driving a high-quality car. At the end of the lease, you simply return the vehicle to the BMW retailer. This makes it a truly simple way to drive luxury cars like the BMW 5 Series or BMW X3.

Business customers can use aftersales facilities and have flexible finance options to help manage vehicle costs. Free Price Compare teams up with reliable providers to give you good business finance deals that fit your needs.

BMW Finance for Bad Credit

You can still get BMW finance options even if your credit history isn’t great. There are several choices like Hire Purchase (HP), Personal Contract Purchase (PCP), or deals with no deposit. Some lenders focus on UK residents with bad credit. These finance options let you own a BMW without stressing about your credit score. This makes it easier for you to drive the car of your dreams.

Lenders look at how well you can handle your monthly payments. They provide customised options to help you get a BMW that matches your needs and fits your budget.

What Do I Need to Get BMW Car Finance?

If you want to finance a BMW, there are important things you should know. BMW provides different flexible finance options. These can meet your needs whether you go through a credit broker, visit a local retailer, or use online car finance services. Here are the key points you need to qualify for BMW car finance:

1. Proof of Identity

To apply for BMW finance, you need to show valid ID, like a passport or driving license. This is important to confirm your identity during the credit acceptance process. If you go to a BMW showroom, remember to bring these documents with you.

2. Proof of Address

Lenders need proof of your address. This usually means having recent utility bills or bank statements. If you are applying in-person at your local retailer or setting up a virtual appointment, it is a good idea to have these documents ready. This will make the process go faster.

3. Proof of Income

One key thing to get BMW finance is showing that you can handle the monthly payments. Lenders will request recent payslips or bank statements to check your income. This rule applies to retail customers and business users who choose business contract hire.

4. Employment Details

You will need to provide details about your current job. This includes your job title and how long you have worked there. This information helps the lender check your financial stability. This is important for credit acceptance. Whether you go to a BMW Group dealership or use a credit broker, having this information will make the process easier.

5. Credit History

Your credit history is important when it comes to your interest rates and finance options. BMW has a chosen group of lenders who will look at your credit score when you apply. If you worry about having a low credit score, don't worry. There are flexible finance options you can still explore, but the rates might change.

6. Deposit

BMW has options for low monthly payments, but some finance plans may need an initial deposit. The amount of the deposit can change based on the length of the agreement and the finance plan you pick. This could be BMW Select, Hire Purchase, or Personal Contract Hire. Remember, BMW sometimes has special deals during events like BMW Month, when deposit amounts can be less.

7. UK Residency

To get BMW finance, you need to live in the UK. Some lenders want proof that you have lived in the UK for at least three years. This is usually part of their credit acceptance rules. This rule touches both personal and business contract hire applicants.

8. Age Requirements

You must be at least 18 years old to apply for BMW finance. However, many lenders like applicants to be over 21 and to have a good credit history. This rule applies whether you are setting up a virtual appointment or going to a BMW retailer in person.

9. Driving Licence

A valid driving license is needed to get BMW car finance. You can use a full license or a provisional one, but a full license is usually better. When you are about to complete the deal at your local retailer or through a credit broker, make sure you have this document ready.

10. Vehicle Details

If you want to get a loan for a specific BMW model, like a BMW 3 Series or BMW X3, lenders will ask you for details about the car. They want to know its value, age, and mileage. BMW retailers can give you this information to make sure the vehicle fits the lender's rules. The use of cookies on BMW’s website can help you look at vehicle options. This way, you can find a model at a convenient time that works for your budget.

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Why Use Free Price Compare for BMW Finance?

With Free Price Compare, you can find many car finance deals for all types of budgets and needs. We help you compare finance packages for new and used BMWs. You can look into options like low monthly payments, no deposit deals, and plans that fit people with poor credit history.

  • You can access a chosen group of lenders for great deals.
  • There are flexible terms, like BMW Personal Contract Hire and Hire Purchase.
  • No deposit finance deals are available.
  • You can choose between business contract hire and personal finance options.
  • You will get independent financial advice and support during the whole process.
  • There are special finance deals for BMW M Sport models and electric cars.

Get a custom quote today from Free Price Compare. You can finally drive the BMW you have always wanted with a finance plan that suits you.

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FAQs About BMW Car Finance

BMW offers finance options for customers with bad credit. The interest rates and terms might change based on your situation. Lenders look at your ability to make monthly payments. They can give you tailored plans like Hire Purchase (HP) or Personal Contract Purchase (PCP), even if your credit history isn't great. Also, some lenders focus on bad credit car finance. This helps UK residents get the BMW they want, even with credit issues.

Yes, most BMW finance agreements, like PCP and business contract hire, let you change your annual mileage and contract mileage to suit your needs. It's important to guess your mileage right. Going over the set limits could lead to extra charges for excess mileage when your agreement ends. You can talk about mileage options when you set up your contract with your local retailer or credit broker.

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Page last updated on: 23/10/2024

Page reviewed by: Andrea Troy

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