The payment of balloons is usually representative of the value of the car at the end of your agreement – essentially, to pay its value by the hour to keep it. They are bound by contract until the end of the period and must pay a fee to withdraw prematurely. Contract Hire Staff, or PCH, is an agreement in which you never own the car. You pay a down payment if you want to make monthly payments, and then at the end of your agreed term, they simply returned the car. If you move part of the value of your vehicle until the end of your agreement, your monthly payments can be significantly reduced. Give the flexibility to choose the right model within your budget. Then – and this is what really characterizes BMW Select – we take part of the cost of your vehicle and freeze it until the end of your financing contract. This will be your final payment option and will reduce your monthly payments. You can change your vehicle at any point during your agreement, as you can with a PCH or PCP, but it will probably make your next vehicle more expensive. And if you get to the end of your agreement, you have to buy the car. If you decide to voluntarily terminate your contract, you will also have to pay for excess kilometres or damages that are considered outside of fair wear and tear. For all the details of the fair wear policy, and the process, if you decide to make your BMW, please go back to your BMW. If you plan to voluntarily terminate your financial contract, please contact our BMW customer service team. 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. Buying rental is an easy way to finance a new BMW that you can keep. Fixed monthly payments mean that you have more control over your budget, plus the repayment terms are agreed to match what you can afford. All you need to do is: you have to agree on a mileage allowance at the beginning of your contract, if you move on, it will affect your GFV and you will have to pay a fee for the excess millage if you return the car.