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Consumer Hire Purchase 

Under Hire Purchase, BMW Financial Services purchases the car on your behalf. You then pay an agreed installment over 1 to 5 years. The car becomes your property at the end of the agreement upon payment of a purchase installment. With Hire Purchase you can defer part of the capital cost until the end of the agreement and pay a final "balloon" payment, thus making the monthly installment more affordable.

Benefits of Consumer Hire Purchase: 

• You have peace of mind by knowing from the outset the timeframe and amount of repayments 

• As the installments are fixed, the payments are not subject to fluctuations in interest rates 

• You have ownership of the car at the end of the agreement on payment of the purchase fee 

Warning: You will not own these goods until the final payment is made. 

Non-Consumer Hire Purchase (Business Hire Purchase) 

Hire purchase is an agreement whereby vehicles are purchased by BMW Financial Services on behalf of the customer and hired for an agreed term. At the end of the contract period, ownership transfers to the customer on the payment of a purchase installment.

For business and taxation purposes, vehicles acquired under a Non – Consumer Hire Purchase arrangement are treated as fixed assets of the company with the amount being treated as a liability. 

A Business can offset the interest element of the Hire Purchase cost against Tax thereby reducing the effective cost of borrowing. The VAT amount on the vehicle can be claimed back from Revenue in one upfront payment at the beginning of the agreement (subject to vehicle qualification rebate). Vat is not normally recoverable on cars. 

With Hire Purchase you can defer part of the capital cost until the end of the agreement and pay a final "balloon" payment, thus making the monthly installment more affordable. Benefits of Non-Consumer Hire Purchase: 

• The product is straightforward with no tax implications on completion of the agreement 

• Fixed installments provide for more accurate budgeting and forecasting 

• By funding vehicles by way of a separate line of credit, working capital is free to be used where it is needed most - in the business 

• As well as preserving valuable working capital, HP can provide better cash-flow management and control. Warning: You will not own these goods until the final payment is made

For more information or to arrange a test drive call 01 864 7777

Finance Examples

BMW 116i SE
	Price	€27,260
	Deposit / Trade In	€4,000
	Customer Deposit	€4,300
	Balance for Finance	€18,960
	Term	€60
	Monthly Repayment	€398.20
	Typical APR	9.5%
	Cost of Credit	€5,082

BMW 3 Series Edition SE
	Price	€36,513
	Deposit / Trade In	€6,613
	Customer Deposit	€4,300
	Balance for Finance	€25,600
	Term	60
	Monthly Repayment	€537.65
	Typical APR	9.5%
	Cost of Credit	€6,809.24

BMW 5 Series SE Auto
	Price	€45,362
	Deposit / Trade In	€6,947
	Customer Deposit	€4,300
	Balance for Finance	€34,115
	Term	60
	Monthly Repayment	€716.49
	Typical APR	9.5%
	Cost of Credit	€9,024.22

BMW X1 S Drive 1.8dSE
	Price	€35,402
	Deposit / Trade In	€7,216
	Customer Deposit	€4,300
	Balance for Finance	€23,886
	Term	60
	Monthly Repayment	€501.66
	Typical APR	9.5%
	Cost of Credit	€6363.38

BMW X3 XDrive 2.0d SE
	Price	€49,000
	Deposit / Trade In	€9,345
	Customer Deposit	€4,300
	Balance for Finance	€35,355
	Term	60
	Monthly Repayment	€742.53
	Typical APR	9.5%
	Cost of Credit	€9,346.77

Terms & Conditions Apply.  

This offer is made under BMW Select, a Hire purchase Agreement as defined by The Consumer Credit Act 1995. 

Subject to current credit criteria. A guarantee maybe required. Typical APR quoted is for illustration purposes only and includes a fee of €75 included with the initial rental and a purchase instalment fee of €75. BMW Financial Services (Ireland) Limited is prescribed as a credit institution under the Consumer Credit Act1995.

Warning: You may have to pay charges if you pay off fixed rate loan early .You will not own these goods until final payment is made.