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Luxury vehicles like a BMW can be a pricey investment, but thankfully there are plenty of financing options.
BMW offers four financing products and there are several third-party options too.
Below, we explore all of the financing options available so you can decide which is most suitable for you.
Warning: late repayments can cause you serious money problems. See our debt help guides.
When deciding the best way to finance your BMW, decide whether speed or price is your biggest priority. It’s likely to be cheaper to take out a car loan from a bank, credit union or online lender. However, it can also be the most time-consuming, as you’ll need to compare lenders and take action to see what rates and terms you’re eligible for. An unsecured personal loan is an option, though it could be harder to find favourable rates and terms because there is no collateral on the loan.
The fastest way to get behind the wheel of a new BMW is likely to be through an authorised dealer, especially if you already know the model and accessories you want. In this case, you can negotiate your car price and loan interest rate all at the same time.
BMW offers four financing options:
The maximum credit amount is £150,000 for all of these deals. You’ll be granted mileage between 8,000 and 50,000 miles per annum, and 150,000 miles in total. You might find additional deals depending on the dealership and where you live. The rates and terms you qualify for will vary based on your creditworthiness and personal finances.
All new BMWs bought in the UK come with a three-year warranty, while a BMW Approved Used Car comes with a 12-month warranty. Extended warranties are available. To ensure your warranty remains valid, all work on your car will need to be completed at a BMW-authorised workshop.
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