BMW is the number 1 prestige car in the UK. The kind of car you drive is a good indicator to the status of your wealth and by having a BMW it is a clear statement that you’re doing well. However with the UK in the midst of a credit crunch the sales of new BMWs are falling at an alarming rate in favour of BMW contract hire.
It is easy to see why BMW contract hire and leasing is increasing as contract hire offers the user the guarantee of a fixed monthly payment and in the current worrying times that is a huge selling point. There is also potential to save money by reducing the tax liability and maybe the chance to reclaim the VAT.
Before you run out and get the latest BMW on contract hire be warned of a few points. There is no guarantee that you can purchase the car at the end of the agreement and it is vital to remember that the agreement is a liability. You don’t want to be straining yourself unnecessarily during the credit crunch.
Finally, don’t be shy as in new BMW sales there is room for negotiation when signing a contract hire agreement.
[This is a guest post written by Darrell Freeman]