Representative Example: Borrow £7,000 with £1,000 deposit over 48 months with a representative APR of 15.9%, monthly payment would be £166.52, with a total cost of credit of £1,992.92 and a total amount payable of £7,992.92.
CarMoney is a broker not a lender, We don’t charge a fee for our service, but we do earn a commission. This can either be a % of the amount borrowed or a flat fee. This does not influence the interest rate you’re offered in any way.
CarMoney is a broker not a lender
BMW PCP Finance
What is personal contract purchase (PCP)?
In essence it’s a loan that allows you to get a car. As with hire purchase (HP), you have to pay a deposit followed by monthly payments. PCP is different from HP as in you pay for the depreciation of the car only, and once the finance term comes to a close, you don’t end up owning the car (unless you want to).
A preferred method for people who want to change cars every 2-4 years, PCP is ideal is you want to freshen up your set of wheel every so often!
We’re guessing that you’ve already settled on a PCP finance loan, and maybe you’ve even chosen what car you’d like to purchase… A dependable, fun to drive BMW by any chance? If so, then the team at Car Money can steer you through the twists and turns of BMW PCP finance. Trust us, it’s an easy drive!
Why choose BMW PCP finance?
As we mentioned before, personal contract purchase agreements are perfect for drivers that want to change cars fairly regularly. So if you think that you might keep your car for longer than 4 years, or even plan to buy the car outright, then you should consider a hire purchase agreement.
Here are some more benefits of opting for a BMW PCP finance agreement:
- Take advantage of a low initial deposit & lower monthly repayments. You could drive away a better car than you would if you choose a HP finance agreement.
- A specified Guaranteed Minimum Future Value (GMFV), therefore protecting you from market fluctuations.
- It’s a very flexible method of car finance, leaving you with a few options at the end of the agreement, with the option to buy the car outright if you’ve grown to love it.
Your BMW PCP finance deal finishes. What happens next?
If you enter into a BMW PCP finance agreement, you’ll have 3 options to consider once the term of the agreement reaches an end. Perhaps you’ve fallen in love with the car and can’t bear to hand the keys back… no problem, you can buy the car outright with a balloon payment. Or maybe your love affair with the car is over, and you found that a PCP agreement wasn’t right for you. Simply hand the keys back and clear up any outstanding payments that may arise, such as damages and over-mileage charges. You are then free to walk away.
Finally, the most common option is to enter into another PCP deal. This is by far the most popular option and means you can upgrade to another BMW or change make and model completely. That’s the versatility that comes with a BMW PCP finance deal. Contact us today and see how we can get the best BMW PCP deals for you. Take our BMW PCP calculator for a spin and drive away a brand new BMW today!