BMW Hire Purchase Calculator
Calculate your BMW Hire Purchase monthly payments for 3 Series, 5 Series, X3, X5 and more. Get instant quotes with our free BMW HP finance calculator.
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BMW Hire Purchase Calculator
Your BMW Hire Purchase Results
Amount to be financed
£38,250.00
Monthly payment
£914.17
Term
48 months
Total Amount Paid
£50,630.17
Total interest
£5,630.17
You own the car after
48 months
About BMW Hire Purchase
BMW Hire Purchase is a straightforward way to finance your BMW.You pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the car.
BMW Financial Services offers competitive HP rates, typically ranging from 4.9% to 9.9% APR. Unlike PCP, there's no final balloon payment - you make equal monthly payments throughout the term.
BMW HP is ideal if you want to own your BMW outright and prefer predictable monthly payments. You can also settle the agreement early to save on interest charges.
BMW Hire Purchase FAQs
What is BMW Hire Purchase?
BMW Hire Purchase (HP) is a straightforward financing option where you pay a deposit and then make fixed monthly payments over an agreed term. Once all payments are complete, you automatically own the BMW.
How does BMW HP differ from PCP?
Unlike BMW PCP, Hire Purchase has no final balloon payment. You make equal monthly payments throughout the term and automatically own the car at the end. HP typically has higher monthly payments but lower total cost.
What BMW models are available on HP?
All BMW models are available on Hire Purchase including the 1 Series, 2 Series, 3 Series, 4 Series, 5 Series, 7 Series, X1, X3, X5, X7, and electric models. BMW M Performance and M models are also available.
What is the typical APR for BMW HP?
BMW HP APR rates typically range from 4.9% to 9.9% depending on the model and your credit profile. BMW often offers promotional rates on selected models, sometimes as low as 0% APR.
How much deposit do I need for BMW HP?
BMW HP typically requires a minimum deposit of 10-20% of the car's value. For a £40,000 BMW, you'd typically need a £4,000-£8,000 deposit. You can put down more to reduce monthly payments.
Can I get BMW HP with bad credit?
BMW Financial Services offers HP to customers with various credit profiles. Those with excellent credit will get the best rates, but BMW will work with you to find suitable terms based on your circumstances.
Can I pay off BMW HP early?
Yes, you can settle your BMW HP agreement early. You'll receive a settlement figure that includes any outstanding balance minus interest charges. Early settlement can save you money on interest.
What happens if I miss BMW HP payments?
Missing BMW HP payments can result in late fees and may affect your credit rating. BMW Financial Services will contact you to discuss payment options. In severe cases, they may repossess the vehicle.
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