BMW Select PCP.
BMW Select, our Personal Contract Purchase product, is our most popular car finance product for both new and used cars. This is because it generally has lower monthly repayments and provides you with flexible options at the end of the agreement. It’s particularly good for those who appreciate having the option to own the car at the end of the contract or you can simply return it without additional commitments or part exchange it for a new BMW.
With PCP, you defer a portion of the cars total value until the end of the agreement and this optional payment needs to be made if you want to purchase the car. This amount is the Guaranteed Minimum Future Value.
More BMW for your money.
As you are deferring a proportion of the car’s value until the end of the agreement, your monthly payments could be less than you think. This may give you the flexibility to add more options to your car, or even upgrade to a higher specification model, all within your budget. Or you can simply pay less each month for the car you want, compared to Hire Purchase, our alternative product offering.
How PCP finance works.
Fixed repayments.
Monthly repayments are fixed during the agreement and spread equally throughout the term, including interest.
Guaranteed minimum future value (GMFV).
We guarantee the minimum the vehicle will be worth at the end of the agreement, based on agreed annual mileage and maintenance of the vehicle. If you drive more than the agreed annual mileage or the vehicle is damaged beyond our fair wear and tear standards, you may need to pay additional charges.
Choose to own, return or exchange the vehicle.
At the end of the agreement, customers can pay the completion fee of €75 and the Guaranteed Minimum Future Value (GMFV) to become the legal owner of the vehicle, hand it back and walk away, or part-exchange it for a new one.
Features of PCP:
Lower Monthly Payments: You only pay for the car's depreciation (value lost) during the term, not its full price, leading to lower monthly costs than traditional financing.
Flexibility at the End: Choose to:
- Return the car (mileage/condition charges may apply).
- Trade it in for a new one, using any positive equity as a deposit.
- Pay the large final payment" to own it outright.
Drive Newer Cars More Often: Lower monthly costs make it easier to afford a higher-spec or newer model and switch every few years.
Large Final Payment: A significant sum is required at the end to own the car, which can be a financial strain.
Mileage Restrictions: Exceeding the agreed annual mileage leads to expensive excess mileage charges.
Wear & Tear Charges: You'll be charged for damage beyond "fair wear and tear" if you return the vehicle, requiring good maintenance.
Higher Cost: While the monthly payments are lower, the overall cost may be higher if you choose to purchase the car.
Terms & Conditions.
Finance 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. Finance provided subject to status. Offer available to Irish Residents only. Over 18s only. A guarantee may be required.
Car Dealer Commission Payments
We will pay commission to the car dealer for arranging finance for you through BMW Financial Services. The commission is a fixed percentage of the amount financed. This means the higher the amount financed, the higher the commission, the lower the amount financed, the lower the commission. The dealer cannot change the commission rate or the interest rate. Please ask the car dealer or us if you would like more information about the commission we pay.
Warning: If you do not meet the repayments on your hire–purchase agreement your account will go into arrears. This may affect your credit report, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Warning: You may have to pay charges if you pay off a hire-purchase agreement early.