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Scrappage Deal From BMW

Thu, 23 Apr 2009
Following yesterday’s Budget announcement about the government’s scrappage scheme, BMW UK has today confirmed that it will participate in the programme. The government’s £1,000 contribution will be matched by BMW to make a total saving of £2,000 off a new BMW or MINI.

To see how the new scrappage incentive will affect new car buyers, the example below outlines the financial savings that are possible. Now a customer will be able to get behind the wheel of a new BMW 116i Sport for just £242 a month, with zero deposit. With the government scrappage payment, the matching BMW offer and an additional dealer contribution the total discount available on this model equates to £3,260. The BMW 116i has class-leading economy and low CO2 emissions and, like all other EfficientDynamic-equipped BMWs, makes excellent financial sense too. A zero to 62mph time of 9.8 seconds and output of 122hp results in a car that is also fun to drive.

BMW 116i Sport 3-door

40 Monthly Payments of £242

On-the-road cash price £17,220

Customer deposit £0

Government scrappage payment £1,000

BMW scrappage payment £1,000

Additional dealer contribution £1,260

Note: Above quotatgion is based on a typical 7.8 per cent APR, the amount of credit ffered is £13,960, first monthly payment would be £416, optional final payment would be £6,574 and the total amount payable £16,670. The contract mileage is 35,000 miles with excess mileage charged at 4.5p per mile.

BMW has a long established recycling network to ensure that scrapped cars are handled responsibly. The Authorised Treatment Facilities, operated by ‘Autogreen’, will ensure that these vehicles will be treated and recycled correctly.

More at www.bmw.co.uk

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Amount to borrow
Sorry. The minimum loan amount is £1000
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Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

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Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.