In this section you can find the answer to questions you may have about ending your finance agreement. If you can’t find a suitable answer, or would like further information, please contact us.
Ending your agreement early.
If you decide that you’re ready for a change earlier than you expected, you can pay off your agreement early at any time by paying the settlement figure.
Obtaining your Settlement Quotation.
You can obtain the settlement figure by logging into your MyBMW Finance account. Alternatively contact us by Phone: 0818 253 181, Email: bmwcustomerservices@bmwfin.ie or Post: BMW Group Ireland, Swift Square, Northwood Cres, North Wood, Dublin 9
Voluntary terminations.
If you are a consumer (not including business customers), and have a BMW Select PCP or a BMW Hire Purchase agreement you have the right to end the agreement at any time, known as voluntary termination.
The Half Rule
- You are only responsible for paying up to half (50%) of the "Total Hire Purchase Price".
- This total Hire Purchase Price includes the car's cash price plus all interest, documentation fees, and any final payment (GMFV).
- If you have already paid more than half, you can return the car and owe nothing further (excluding arrears or damage).
- If you have paid less than half, you must pay the difference to reach that 50% mark.
You should consider your options carefully. We suggest you get professional advice before you make a decision. Further terms and condition apply which will be provided in your agreement document.
Your end of agreement options.
Your end of agreement options vary depending on which type of finance agreement you have chosen. Here we have detailed your options, but if you have any questions or would like to discuss your options further please contact us.
Own a new BMW
The simplest way to get into a new BMW is to part exchange your current one**.
Go to BMW or visit your local BMW Centre and take a look at the latest range and finance offers.
Keep your current BMW
If you want to keep your BMW, simply pay your optional final payment (GMFV) plus the option to purchase fee and you will own your car outright*. If you would like to spread the costs of the final payment, please contact one of our finance specialists at your local BMW Centre or contact us directly.
Return your BMW at the end of your agreement
With your BMW Select PCP finance agreement you have the option to hand your car back before the optional final payment falls due ***.
Terms and conditions.
*The optional final payment (together with an option to purchase fee) are payable at the end of the agreement if you decide to purchase the vehicle. We remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
**If you part exchange the vehicle for a new BMW, any surplus in the vehicle’s part exchange value over the optional final payment (and option to purchase fee) can be used as a deposit towards a new BMW.
***If the vehicle’s value is less than the optional final payment, you can hand it back to us without paying the optional final payment (GMFV). However additional charges may be payable for both excess mileage (actual mileage higher than agreed contract mileage) and vehicle condition (using the standards set out in the BMW Fair wear and tear guide). If your agreement is regulated by the Consumer Credit Act 1995, this contractual option will be in addition to your statutory right to end the agreement early.
Finance is subject to status and available to over 18s in the ROI only. Guarantees and indemnities may be required. Advertised finance is provided by BMW Financial Services.
BMW Financial Services (Ireland) DAC trading as BMW Financial Services, MINI Financial Services, ALPHERA Financial Services and BMW Insurance Solutions, is regulated by the Central Bank of Ireland.
With BMW Contract Hire, you enjoy hassle-free motoring. At the end of your agreement, we’ll write to you reminding you that your hire period is due to end soon, and we’ll arrange for the collection of your BMW*.
You can then choose to hire another BMW through your local BMW Centre.**
For full details about the process of returning your BMW, please go to Returning your BMW.
Terms and conditions.
BMW Contract Hire is only available to business customers and on new cars. We remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
*If the rate of VAT changes during the hiring period, BMW Financial Services may change the rental charges. The amount of VAT you can reclaim depends on your businesses VAT status.
**Additional charges may be payable for both excess mileage (actual mileage higher than contract mileage) and vehicle condition.
Finance is subject to status and available to Business customers in the ROI only. Guarantees and indemnities may be required. Advertised finance is provided by BMW Financial Services.
BMW Financial Services (Ireland) DAC trading as BMW Financial Services, MINI Financial Services, ALPHERA Financial Services and BMW Insurance Solutions, is regulated by the Central Bank of Ireland.
BMW Hire Purchase is a simple and straightforward way to purchase your BMW. We’ll write to you to remind you that your agreement is due to end soon. Simply make the final payment, which includes the Option to Purchase Fee, and providing that all other payments have been made, you will become the owner of your BMW*.
If you pay by direct debit, this amount will be debited automatically from your account on the agreed end date.
Terms and conditions.
*Provided you have made all of the necessary payments due under your agreement, including the option to purchase fee at the end. Please note, we remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
Finance is subject to status and available to over 18s in the ROI only. Guarantees and indemnities may be required. Advertised finance is provided by BMW Financial Services.
BMW Financial Services (Ireland) DAC trading as BMW Financial Services, MINI Financial Services, ALPHERA Financial Services and BMW Insurance Solutions, is regulated by the Central Bank of Ireland.