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The importance of the VET is that you can keep your options open at the end of your agreement. Your decision is based on the future value of the car, which is why it is important to estimate your mileage. Depending on the actual market value when you change your car next time, you have the flexibility to choose from one of the following options: -Pay the optional final payment and own your BMW – Exchange your BMW and choose another vehicle – Return the car – With the option to choose between three options at the end of your agreement , it is our most popular financing product for new used cars. You can then rent another BMW via your local BMW center. Terms and conditions. BMW Contract Hire is not available for used cars. We still own the vehicle during the contract and we may have the right to recover the vehicle if you do not maintain your refunds. If the VAT rate changes during the rental period, BMW Financial Services may change the rental fee. The amount of VAT you can recover depends on your company`s VAT status. Additional charges may be due for both excess mileage (effective mileage greater than contractual mileage) and vehicle condition (British Vehicle Rental and Leasing Association Standards).
Rent is subject to status and is only available to over 18s in the UK. Guarantees and allowances may be required. The advertised rent is provided by BMW Financial Services (GB) Limited, Summit ONE, Summit Avenue, Farnborough, Hampshire GU14 0FB. This product is available to all our customers (subject to financial status). This product can benefit customers who have entered into a financing contract and may not be sure what they want to do at the end of the agreement. BMW Select is a reasonable option if you are looking for flexibility with low monthly payments. Have you ever wished that you could have LOW MONTHLY payments – such as a rental contract – but that you nevertheless enjoy the benefits of OWNERSHIP – such as a traditional financing contract? As you move some of the value of the car until the end of the agreement, your monthly payments may be lower than you think. This can give you the flexibility to add more options to your car, or even update to a higher specification model, all within your budget. Or you can simply pay less per month for the car you want, compared to Hire Purchase, our alternative product that offers ownership of the vehicle at the end of the agreement (although the total amount to be paid for possession may be higher). BMW Financial Services offers a range of vehicle finance products that will help you make your dream of driving a BMW a reality. Once you have decided which BMW model is right for you, please decide how much you want to pawn. We then wonder how long the agreement will last (at least 24 months and maximum 60 months) and what year will be its average annual mileage (the lowest is 8,000 miles per year).
Thanks to BMW Select, as a dealer, we cover part of the costs for your BMW and freeze it until the end of your financing contract. This will be your final payment option. In order for us to calculate the amount of your optional final payment, our qualified retail managers use their know-how to estimate the value of your BMW when your financing contract expires. We call this the guaranteed future value (GFV) of your BMW. In this section, you`ll find the answer to any questions you may have about the end of your financial agreement.