Bmw Credit Agreement

If you are experiencing financial difficulties, please contact our dedicated collection team through customer service, who can help you and discuss possible options. Please note that this can have a negative impact on your creditworthiness and compromise your ability to obtain credit in the future if you decide not to pay your monthly payments. Interest may be deducted from unpaid amounts. In certain circumstances, it may be possible to renew your contract. Please contact us to discuss this further. Payments are credited first on unpaid financing fees, then on the outstanding principal balance, and then on all outstanding fees. Your statement of account breaks down how your payments were allocated. Assuming you have made all the necessary payments, which are due in accordance with your agreement. Please note that we remain owners of the vehicle during the contract and we may be allowed to recover the vehicle if you do not comply with your refunds. With Snow`s BMW, we understand that when you enter into a financing contract, you can`t be sure what your next steps will be in the end. The PCP is perfect if you want to combine flexibility with low monthly payments.

Just start by choosing which BMW model is right for you. Then decide how much you can deposit as a deposit, how long the agreement will last (between 24 and 60 months) and how likely your average annual mileage is. Then we will cover part of the cost of your BMW and freeze it until the end of your financing contract. This becomes your optional final payment and also reduces your monthly payments. However, if you have BMW default insurance and you have paid all the premiums, the difference between the insurance company and the amount owed for the payment of your contract will be paid. You will find your contract number in your welcome letter/email, just below the date or in another message we sent. Click here to see an example letter. If you have a BMW Select contract or a BMW Hire Purchase contract, you have the right to terminate the contract at any time, known as voluntary termination. You must return the vehicle and pay the balance at half the total amount owed under your agreement (if you have not already paid at least half of it) and in addition to any residues, overrun kilometres and claims costs. The details of this right are stated in your agreement under ”Cancellation: Your Rights.” You should have your car repaired as part of your car insurance before you send it back to us. All repairs must comply with the manufacturer`s recommendations. You must also inform us of any damage caused by the accident that you repaired during the agreement.

BMW Hire Purchase is a simple and simple way to buy your BMW. We will remind you in writing that your agreement will be concluded soon. Just make the last payment that includes the purchase fee option, and provided all other payments have been made, you will become the owner of your BMW. If you pay by debit, this amount will be automatically debited from your account on the agreed end date. Terms and conditions.