Administration fees

As is standard within the industry, you'll pay fees to cover specific administration costs. These fees are charged over and above the interest charges you pay and are reflected in the APR calculation where relevant. Examples include credit arrangement, administration and option to purchase fees.

Annual Percentage Rate (APR)

APR is the annual rate of the total charge for credit used as a standard measure so that you can compare what you'll pay under different credit packages. This total charge includes interest and other charges or fees that will affect the cost of borrowing.

Change of address

If you move during the course of your agreement please let us know as soon as possible. You can do this by calling our Customer Services Team on 0870 505 0150, or by selecting the 'Update Contact Details' option within our 'Online Request' section.

Change of registration plate

If you've added a personalised plate to your BMW since taking out your finance agreement with us, we'll require confirmation from the DVLA of the new registration so we can update our records.

At the end of your agreement, if you're returning your BMW to us and want to keep your personalised plate, you'll need to have it re-registered before you return it. You'll also need to provide us with the new details so that we can again update our records.

Consumer Credit Act 1974

This Act of Parliament was introduced to protect the rights of individuals by regulating the operations of financial institutions and financial providers. Your agreement will be covered by the Act provided you're not a limited company and you're borrowing £25,000 or less, or your total rentals and other payments under a hiring agreement are less that £25,000.

To find out more please visit www.oft.gov.uk

Credit assessment

When you applied for your finance agreement with us, we ran a credit assessment on you which gave an estimation of how good a credit risk you are.

To make sure you maintain the best possible credit profile, you should make all your regular payments on time for all credit and hiring agreements you have.

Customer complaints

We always aim to get things right for you first time. But if our service doesn't meet the high standards you expect, we'd like to know so that we can rectify the situation without delay.

Should you need to make a complaint, we'll treat it seriously and try to resolve it quickly and fairly. Please have your agreement number ready if you need to contact us. We'll acknowledge any written complaint within 5 working days of receiving it.

End of agreement options

Shortly before the end of your agreement we'll write and let you know about your options, which will vary depending on the type of agreement you have.

Finance and Leasing Association (FLA)

We are full members of the Finance and Leasing Association (FLA) and we follow the FLA's Lending Code. We participate in their complaints handling, conciliation and independent arbitration schemes.

You can obtain a copy of the Code by writing to us or calling us on 0870 505 0150, or by calling the FLA on 020 7836 6511. Under the FLA Code of Practice, if you make a complaint and we cannot resolve it to your satisfaction, you can refer the matter to the FLA by calling them on 020 7420 9624.

You can also write to the Compliance Manager at the FLA, enclosing brief details of your complaint, a copy of your agreement (if you have it) and copies of any relevant correspondence.

Maintenance on new BMWs

When you took out your agreement, as well as BMW's Service Inclusive option (if available on your model), you may also have taken out our own additional maintenance cover if your car is subject to a contract hire agreement. If so, subject to your compliance with the agreement, we'll cover any maintenance costs incurred in the UK, and no more than the UK cost of repairs carried out in Europe, as long as our Maintenance Team has authorised all servicing and repairs in advance. This excludes any glass or tyre damage, including punctures, or repairs arising from accident or impact damage, frost, negligence or misuse, or failure on your part to have the car serviced in accordance with BMW's recommendations.

In the case of tyres, our policy is to replace them when the tread has reached 2mm, although we also use the spare wherever possible.

When you book your BMW into an authorised dealership or repairer for either service or maintenance work, you'll need to let them know that you have a maintenance contract so they can contact us for authorisation.

Mileage

If you have a BMW Select or BMW Contract Hire agreement, you'll have agreed an annual mileage, which is explained in your agreement. Staying within this agreed limit will protect your BMW's future value and make sure you aren't liable for excess mileage charges when your agreement ends.

Paying off your loan early

If you wish, you can pay off everything you owe us in full at any time by asking for a settlement quotation from our Settlements Team. The way this settlement figure is calculated will depend on the type of agreement you have.

The majority of our agreements are regulated by the Consumer Credit Act 1974 (the title on your copy of the agreement will tell you if it's regulated).

We work out settlements for regulated credit agreements by applying a formula set out in the Consumer Credit (Early Settlement) Regulations 2004.

The amount of interest you pay will be less than you would have paid if the loan had run its full course, unless you settle very close to the end of your agreement term. In the first few months of your loan, the amount that you pay will include more interest than later in the agreement. We use a different method of calculation for unregulated agreements.

If you'd like to know more about settling your agreement early or how we work out the amount you'll have to pay, please contact our Settlements Team or visit the Finance and Leasing Association's website www.fla.org.uk

To request a settlement quotation please call 0870 505 0150.

Payment difficulties

If you're having difficulty in meeting your payments or rentals due to a change in personal circumstances, please contact our Customer Accounts Team without delay so that we can discuss your current situation and the possible options you have available.

The team will also be able to advise you if you've taken out BMW Protect and are eligible to make a claim following a change in your personal circumstances.

Returning your car to us at the end of your agreement

If you're returning your car under either a BMW Select or BMW Contract Hire agreement, please select the appropriate link below.

Transfer of legal title

With BMW Hire Purchase, BMW Lease Purchase and BMW Select agreements, you have the opportunity to own your BMW at the end of the finance agreement.

Provided you've made all the payments required under the agreement, including the Option to Purchase fee, we'll transfer legal title of the BMW from us to you.

For BMW Contract Hire and BMW Leasing agreements ownership of the car always stays with us.

Use of personal information

In accordance with the Data Protection Act 1998, our policy regarding use of personal information should have been explained to you by the dealer who supplied your car.

If this is not the case, please refer to the section of your agreement entitled 'Data Protection Notification'.

Terms and conditions of your agreement

The terms and conditions on which your agreement with us are based can be found on the reverse of your financial agreement. These terms and conditions are binding and are not superseded by explanations given on this website.

All insurance products detailed are subject to the terms and conditions contained in the relevant policy.