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FINANCING YOUR MINI. OUR MINI FINANCE PRODUCTS.
MINI Hire Purchase.
If you’re interested in owning a new or used BMW at the end of your finance agreement and making fixed regular payments with no mileage restrictions, BMW Hire Purchase could be the finance solution for you.
HOW IT WORKS
We can tailor a personal plan to suit you based on your available deposit, how much you would like to pay monthly and how long you would like the agreement to last (typically between 12 and 60 months). The purchase price of your car, less the deposit you wish to put in, becomes the balance on your agreement. Any interest and fees are then added and the total is repaid monthly over the term you choose.
Once all payments have been made at the end of the agreement, (including an option to purchase fee) you own your BMW. 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.
Features of Hire Purchase.
Full Ownership: You own the vehicle outright once the final payment (and any small option-to-purchase fee) is made.
No Mileage Restrictions: No mileage restrictions or excess mileage charges.
Simplicity: A straightforward, traditional finance product with a clear path to ownership.
Cost: Can generally be cheaper over the term of the agreement than PCP Finance.
Potentially Higher Payments: Monthly payments can be higher than other options like Personal Contract Purchase (PCP) and you're committed to them.
No Flexibility: You can't easily sell or modify the car without permission and changing vehicles mid-agreement is difficult and costly.
Depreciation Risk: You bear the risk of the car losing value (depreciating), as there's no Guaranteed Minimum Future Value (GMFV) like with PCP.
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.
Terms & Conditions
Finance provided by BMW Financial Services.
BMW Financial Services (Ireland ) DAC trading as MINI Financial Services 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 MINI 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.