BMW Financial Services (BMWFS) has
announced a new ‘50:50’ product, which allows customers to pay 50%
of a car’s value up front, then absolutely nothing for two

After this time, they may either
pay the balance to take ownership of the car, part exchange the car
for a new one, or hand it back to the dealer.

BMWFS sales and marketing manager
Joe Pattinson said: “Customers need only spend half the money up
front they normally would.

“The car has a guaranteed minimum
future value which negates concerns around depreciation and
customers can keep their future options open throughout.

“Better still, if a customer
chooses to part exchange the car at the end of the agreement they
could end up driving a brand new car every two years.”

Pattinson said the product was
aimed at traditional cash purchase customers who might not usually
opt for finance.

It is currently available on BMW 6
Series, 7 Series, X6, X5 and M3 models – chosen because they in
particular are likely to maintain strong residual values.

While the scheme was only launched
in May, more than 100 cars have already been sold with the

Talking about upcoming product development, Pattinson said that
BMWFS would be focusing on finance for smaller models, and looking
at “how new customer segments want to interact with finance
companies with regard to paying for mobility” – a sign that
developments in personal leasing might be on the agenda.