Begin by choosing which BMW model is right for you. Then, decide how much you are able to put down as a deposit, how long you want the agreement to last (between 24 and 60 months) and what your average annual mileage is likely to be. Next – and this is what really sets PCP apart - we take a portion of the cost of your BMW and freeze it until the end of your finance agreement. This becomes your optional final payment and also reduces your monthly payments. To work out the size of this optional final payment, we use our expertise to estimate what your BMW will be worth when your finance agreement ends. This is why we also refer to it as your BMW’s Guaranteed Future Value (GFV).
PAY LESS THAN YOU THINK.
Deferring part of your BMW’s value until the end of your agreement could make your monthly payments significantly smaller, giving you the flexibility to opt for the right model within your budget.
PCP offers the advantage of a lower monthly payment when directly compared to a HP agreement. By deferring part of your BMW's value until the end of the agreement, referred to as your BMW's Guaranteed Future Value, you are able to reduce your monthly payment significantly against a HP agreement.
A consideration when taking a PCP agreement over a HP agreement is whether you want to own the vehicle outright at the end of the agreement without the need to settle your BMW's Guaranteed Future Value. A HP agreement will have a higher monthly payment that will be the same throughout the agreement but without the Guaranteed Future Value at the end of the agreement.
Yes, you are able to settle your PCP agreement early. You can do this by requesting a settlement figure directly from your finance provider and settling the value in full. You also have the option to sell or part exchange your car. A consideration if you choose to sell or part exchange your BMW is the value of the car against the outstanding finance settlement.
Once you’ve chosen the model that’s right for you, simply decide how much you would like to put down as your deposit and how long you would like your finance agreement to last (between 24 and 60 months). Next, we’ll calculate your monthly payments, which will include interest and fees. Once all payments have been made at the end of the agreement, you own your BMW.
The advantage of a HP agreement is that you will own your BMW outright at the end of the agreement assuming all payments have been made. The monthly payment is set throughout the agreement and you are able to set the length of the agreement to suit your requirements, up to a maximum of 60 months.
A consideration when opting for a HP agreement is whether you want to own your BMW at the end of your agreement as well as the affordability element. The monthly payment is higher for a HP agreement when comparted directly against a PCP agreement.
Yes, you are able to settle your HP agreement early. You can do this by requesting a settlement figure directly from your finance provider and settling the value in full. You also have the option to sell or part exchange your car. A consideration if you choose to sell or part exchange your BMW is the value of the car against the outstanding finance settlement.