BMW Buyer’s Guide
Buying a new car is an exciting time — especially when you’re buying a BMW. So when driving a prestige vehicle is a unique experience, it’s never more so than when it’s your dream car.
That’s where Magnitude comes in.
With nearly 30 years of experience in offering prestige car finance products, we can find car finance that is tailored to your exact requirements. Thousands of people have bought luxury cars with our help, and with a wide range of finance options available, you could be next to benefit from our bespoke deals.
If you’re interested in buying a BMW but are unsure about which finance option is best, this guide is made for you. We’ll cover:
- Why financing luxury vehicles is a popular method of purchasing prestige motors
- How you can finance a BMW with Magnitude
- Which BMWs are currently on the market
- Why BMWs are a good investment
- BMW FAQs, including how to get a better deal
Interested in buying a BMW? Let’s take a look at the brand’s history
BMW’s history stretches all the way back to 1913 when the company that would go on to produce the cars was founded. Their first product was an aircraft engine – and, by 1923, they had developed their first motorcycle.
Their first car, the BMW 3/15, came onto the market in 1928, but it wasn’t until the 1930s that they began to produce the luxury and sports cars that they’re known for today.
Following the Second World War, the BMW 700 was developed, and produced between 1959 and 1965. But it wasn’t until the 1960s that the company’s reputation for producing sports and luxury cars really began to grow, with the introduction of the BMW New Class.
A decade later, they began manufacturing the BMW 5 Series, with the BMW 3 Series becoming available not long after. Luxury cars such as the 6 and 7 Series were first produced in the late 1970s.
BMW’s first mid-engine supercar, the BMW M, became available in 1978, with the M5 and the M3 following shortly after, in the mid-1980s.
After several quieter years, the 2000s saw something of a resurgence for BMW. In 2010, the BMW ActiveHybrid 7 was released, making it the company’s first hybrid car. They also released their first mass-produced electric car, the BMW i3, just three years later.
In 2014, the company proved they were capable of expanding beyond their reputation – while they’re best known for developing cars with rear-wheel drive, the BMW 2 Series Active Tourer was their first front-wheel drive car.
Having begun producing cars with V-12 engines in the 1980s, BMW’s final, limited edition V-12 car was announced in January 2022.
Today, the company continues to be a source of innovation in the luxury car industry, often forging partnerships with other top-tier brands.
They are currently working with Toyota to produce and sell hydrogen-powered cars by 2025.
Why is financing a luxury vehicle so popular?
Financing is a popular choice when it comes to luxury cars, particularly when you’re thinking about buying a BMW. Opting to finance a vehicle means we’ll do the hard work for you: tell us your requirements and we’ll match you to the right lender, so you can enjoy the experience of getting a BMW with none of the hassle.
If you’ve had a BMW in the past, you’ve experienced the thrill of driving one, and no doubt want to get back behind the wheel as soon as you can. Or, you might be looking into buying a BMW for the first time. Either way, making the decision to finance a vehicle means it won’t be long before the keys to your dream car are in your hand.
The fact is that BMWs are expensive, but if you’re a fan of the brand, you know the cost is worth it. Financing a luxury car such as a BMW allows you to split payments over a given period, making it a much more flexible way to buy a car than paying the full price upfront. The initial payment also tends to be lower than if you were buying the car outright.
You’ll usually have a say in the length of the repayment period, so if you’d like to pay off your loan quickly you can do so – likewise, if you’d prefer to spread payments out, this is also an option.
Here at Magnitude, we can help you to access different kinds of car finance – it all depends on which one suits you. For example, there’s Hire Purchase Finance, where the loan is paid back over a fixed period. A deposit is typically required. The deposit’s size may vary, but this could benefit you in the long run, as a larger deposit means there’s less to repay.
Another type of finance is the Personal Contract Purchase, which gives you the option to return or exchange your car once the loan is paid off. This is great if you’re someone who takes pride in always driving the latest BMW model, as it gives you the option to upgrade to a new car as soon as your loan is paid.
With Personal Contract Purchase, some people choose to make a final payment that allows them to own their car at the end of the repayment period, but trading in or part exchanging is a good idea for those who want to drive different cars as much as possible.
Buying a BMW is about more than just getting a new vehicle. For car enthusiasts like you, it’s about the lifestyle, your passion for the brand, and the enjoyment that arises from driving the perfect car for you. Financing a luxury car puts that dream within your reach much sooner than it otherwise might have been.
Now you know why you might want to finance a car, but why is Magnitude the best choice for doing so?
The short answer is that we put the customer at the centre of everything we do. When you get car finance through us, we make a point of getting to know you in order to find out exactly what you’re looking for.
This means we can help you secure finance that fits all your requirements. With decades of experience and our dedicated team on hand to advise you every step of the way, we’ll match you to a lender as quickly as we can, so you shouldn’t have to wait long to get behind the wheel.
Which prestige BMWs are currently on the market?
There are several prestige BMW models currently available, so which one is right for you? It all depends on what you’re looking for in a car.
Keep in mind that no matter which car you choose, you can add BMW Service Inclusive for £378, which covers routine servicing for the first four years after your vehicle’s registration.
Here are overviews of 5 prestige BMWs on the market right now, summarising their features to help you pinpoint your ideal car.
BMW 3 Series Saloon M
The BMW 3 Series Saloon M models are a relatively new release. You can choose between rear-wheel drive and all-wheel Mx Drive, so you can customise it to fit your preferences.
This BMW offers an M TwinPower Turbo inline 6-cylinder petrol engine with 374 hp, though you do have the option of a diesel engine with some models. The petrol version can accelerate from 0 to 62 mph in 4.4 seconds, while the diesel engine can do it in 4.6 seconds. Either way, BMW promises that the M TwinPower Turbo engine provides ‘impressive’ power delivery.
In terms of design, this car is a 4-door, 3-box, and has the twin tailpipes you’d expect to see on an M model. It comes in a range of colours, including but not limited to Skyscraper Grey, Alpine White and Toronto Red. The leather upholstery also comes in a variety of shades. Wheels are 19” or 20”, and either 825 or 826 M alloy. The front of the car boasts the kidney grille with a mesh look that BMW is known for.
The BMW 3 Series Saloon M is technologically advanced, with a digital key that allows you to unlock the car with your smartphone, and remote software upgrades to keep the vehicle’s software up to date.
BMW 8 Series Convertible M
With up to 390 kW/530 hp, the BMW 8 Series Convertible M is built for performance. You can choose between the M Sport and M850i xDrive models, although both run on petrol. Regardless of model, all wheels are 20”, with alloys ranging from 728 to 895.
Accelerating from 0-62 mph takes just 5.5 seconds, and fuel consumption in mpg is between 32.5 and 33.2.
Standard features of the Convertible M Sport include BMW’s M Aerodynamics package, exclusive paintwork and a multifunctional steering wheel and driver’s seat – there is no doubt that this is a sports car.
All BMW 8 Series Convertible M cars have a TwinPower Turbo engine (6-8 cylinders, depending on the model), as well as Adaptive M suspension, which helps you adjust to the type of road you’re currently on.
Another highlight of these cars is the software, such as the BMW Intelligent Personal Assistant, which tells you all you need to know about what’s going on with your car, such as how much fuel you have left and any servicing needs.
Plus, it adapts to you, learning the settings you frequently use in order to automatically select and activate them. This frees you up to focus on driving while the Personal Assistant takes care of the little things.
There’s also the remote software upgrade function, which keeps your car up to date and makes it simple to activate new features. Like many other BMWs, it also has a digital key, so all you need to get behind the wheel is your smartphone.
There are, of course, optional Original BMW Accessories for the 8 Series Convertible M, so you can tailor it to your requirements. One of these accessories is the M Performance 19” brake system, which is ideal for when you have to brake short distances and comes in M Performance Red to enhance the car’s appearance.
The BMW i7 gives you a lot of choices. Its wheels are between 19” and 21”, from 903 to 910 alloy and in a range of styles, and the car’s exterior can be grey, white, black, red or blue.
The BMW i7 is fully electric, capable of going from 0-62 mph in 4.7 seconds, and has an engine power of 400 kW. It can be charged at home or on the road, though charging times will vary depending on how and where it’s charged.
For example, 5 hours, 1 minute with a flexible charger on an industrial socket will give you a range of 100 km, while the same range on a household socket will require 8 hours, 13 minutes of charging time. It should be noted, however, that this range can be achieved in just 6 minutes at a high-power charging station.
The interior of this car has a lot to offer. It includes the BMW Interaction Bar, a control panel that can be accessed across the cockpit. Plus, you’ll never lack in-car entertainment, as you’ll have the option to include a 31.3” BMW Theatre Screen for passengers in the rear seat.
You can also choose to have a Sky Lounge panoramic roof. This glass sunroof lets the driver and passengers enjoy natural light during the day and utilises dynamic light effects at night. Then there’s the Bowers & Wilkins Diamond Surround Sound System, which provides excellent audio quality for you to enjoy music as you drive.
You can also add Original BMW Accessories, such as all-weather floor mats to protect the car’s interior, and clothes hangers so you don’t have to worry about your clothes getting creased on long journeys.
The exterior is also worth talking about, with a design that emphasises the car’s elegance and spaciousness and ‘Iconic Glow’ crystal headlights.
The BMW i7 has a digital key, so all you need is your smartphone to unlock and drive the car.
BMW iX 3
The new electric BMW iX3 is available as an M Sport or an M Sport Pro and can accelerate from 0-62 mph in 6.8 seconds. It has an impressive maximum charging capacity – at a high-power charging station, you can add up to 55 miles to the car’s range in only 10 minutes.
There’s one type of wheel available for each model: 19” aerodynamic 842 Bicolour for the M Sport, and 20” M aerodynamic 890 M Bicolour for the M Sport Pro.
Technology streamlines the driving experience, with the Parking Assistant system making use of a rear-view camera and the Active Park Distance Control function, which protects the car from the damage that parking has the potential to cause.
This is a fantastic car for someone who really enjoys the experience of driving, as features include IconicSounds Electric, which is designed to give you audio feedback in response to a range of driving manoeuvres. Plus, there’s an adaptive suspension system, which lets you adjust to different driving situations.
BMW 2 Series Active Tourer
The BMW 2 Series Active Tourer provides multiple model options, allowing you to pick from Sport, Luxury and M Sport. There’s a lot of choice with engines, too – whether you prefer petrol, diesel or plug-in hybrid, it’s up to you. Depending on the engine, fuel consumption is 44.1-57.6 mpg.
The wheels range from 17” to 19”, and are between 833 and 875 alloy.
The BMW 2 Series Active Tourer has a spacious interior, with up to 1,445 litres of luggage compartment volume once the backrest is folded completely down, meaning it’s perfect for people who travel a lot.
But even with the backrest up, there’s still 406-470 litres of storage volume, so you’ll never have to worry about getting your suitcases to fit. The seats can be adjusted by height and length, and the angle of the backrest and headrest can be adjusted too, so you can travel in comfort even on long journeys.
This car is great if you’re heading off on holiday, as the optional BMW Original Accessories include a rear cycle carrier that can hold two bikes (up to 60 kg in total) and a titanium roof box with 420 litres of space.
You can enjoy warm weather with the panoramic glass sunroof, which lets in light and can be opened to fill the car with fresh air. Or, if the sunlight is a bit too bright to be comfortable, you can easily shut the roller blind.
LED headlights mean you’ll have no trouble driving at night, and there are several light functions, so visibility won’t be a concern.
There are multiple systems designed to assist you as you drive, such as the Parking Assistant, which includes automatic braking and a rear-view camera. The car also provides a front collision warning to enable you to complete your journey safely.
What are the best BMW models to finance?
The best BMW to finance largely depends on why you want a BMW, and what your requirements are. If you’re looking for a family car, for example, the best BMW for you is likely to be different to the best vehicle for someone in need of a car for their business.
While your search for a family car might lead you to focus on features such as storage capacity, safety while driving, and ways to keep the children entertained, a business car will have other priorities. These could include things like fuel efficiency, low emissions, and the vehicle’s suitability for being driven by multiple people.
Whatever the best BMW for you turns out to be, Magnitude can help you to finance it. When you’ve found the right car, get in touch with us and we’ll work with you to decide on the best finance package to go with it.
With that in mind, let’s look at some of the BMWs on the market at the moment, and how they might fit your needs.
Best BMW for families
If you’re looking to keep the whole family entertained on long journeys, you should definitely consider the BMW i7. Between the 31.3” BMW Theatre Screen (with Amazon Fire included) and the Bowers & Wilkins Diamond Surround Sound System, there’s something to keep everyone occupied during the drive. The digital key feature, which we covered in the previous section, is great for helping your family stay organised – with your smartphone in your hand, you’ll never have to search for lost keys again.
If you and your family enjoy getting active together, the BMW 2 Series Active Tourer might be right for you, as the cycle carrier allows you to bring your bikes along without taking up room inside the car. Not that interior storage space is an issue, as the backrest folds all the way down. Storage is also crucial if you have a baby, as you’ll need somewhere to put the buggy when you travel, so those 1,445 litres of volume in the luggage compartment will come in handy.
The adjustable seats mean you can travel in comfort, and the sunroof (which includes a roller blind) means that regardless of the weather, this car is a great choice for your family.
For a smaller family with lower storage requirements, the BMW 3 Series Touring could be perfect. It has 500 litres of luggage space, so you’ll be able to bring everything you need. Plus, it has electrically-assisted steering, intended to boost safety on the road, so you can drive your family around with confidence.
Best BMW for businesses
If you’re buying a car for your business, it’s likely that multiple people will be driving it. In this case, it’s a good idea to look for a BMW that a driver can easily adapt to. Some drivers may not be the best at parking, which means that the BMW iX 3, with its Parking Assistant feature, could fit your business’ requirements. The digital key is also useful for businesses, as it lets you authorise up to five additional people to use the car.
The BMW X5 is also considered a good option for businesses due to its low emissions and fuel efficiency. Likewise, the BMW 5 Series Touring is popular with businesses for similar reasons.
Buying a BMW
With over 100 years of history, the BMW remains popular to this day. It’s a luxury brand known for its reliability, with cars built to a high standard that allows them to last a very long time.
There is a range of BMWs available, including several recently released models, so take some time to look through them and find one that suits your lifestyle and what you require from a car. The buying process gives you the chance to explore your options and find your dream car. You can narrow down your search based on things like the type of engine you want – for example, petrol or electric – as well as price and model.
You’re probably aware that there’s a wide variety of BMWs on the market, but in this section, we’ll get into the specifics. Let’s look at the questions people often ask when buying a BMW:
How much does it cost to buy a BMW?
Prices vary between different models, so how much it costs to buy a BMW really depends on which one you want. For example, the BMW i4 M50 starts at £65,795, with certain exterior colours adding to the price. If you wanted to add 20” alloy wheels, this would cost an extra £1,350, and BMW Individual upholstery would be another £990. You could, however, select 18” or 19” alloy wheels without adding to the overall cost.
The BMW 3 Series Saloon, on the other hand, starts from £37,805 – although, again, the price goes up with each add-on.
If, for you, the full luxury car buying experience means finding a car at the top end of the price range, there are the BMW 8 Series Convertible M models, which start at £140,020.
If you’re drawn to the very latest models, the BMW 520d M Sport Touring may appeal to you. Prices start from around £47,370, roughly in the middle of BMW’s price range. Not all recent releases are quite this expensive, with the BMW 2 Series Active Tourer beginning at £31,285.
Electric vehicles tend to cost more. The low end of the electric price range is £53,480 – that’s for the BMW i4. On the other end of the scale is the BMW iX M60, from £111,905.
The other engine types currently available are petrol, diesel and plug-hybrid, with petrol mainly occupying the lower end of the price spectrum. With that said, cars with petrol engines can reach higher prices, like the BMW 8 Series Gran Coupe M models, which start from £130,520. Diesel engines, meanwhile, span the entire price range, while plug-in hybrids are somewhere in the middle, with the most expensive car, the BMW X5 xDrive45e Plug-In Hybrid, starting at £67,810.
Some people have a specific shape, or ‘body type’, in mind when shopping for a BMW. If you’re interested in the Coupe, for example, there’s the BMW 2 Series Coupe from £36,010, the BMW 4 Series Coupe from £41,800, or the BMW 4 Series Coupe M from £128,225.
Other body types include the Convertible, the Roadster, and the Sports Activity Coupe. A BMW 8 Series Convertible with a petrol engine will cost a minimum of £84,050, while the BMW Z4 Roadster starts at £40,750. As with other models, the total cost will depend on your specific requirements for the car, such as wheel size, colour and upholstery.
To make the cost manageable, the team here at Magnitude can tailor a flexible finance solution to help you secure your BMW. Just get in touch today, and we’ll be more than happy to talk you through your options.
Is BMW reliable in the long term?
When buying a luxury car like a BMW, you naturally want assurance that it will withstand the test of time. The good news is that BMW, as a company, has a reputation for reliability, and there is evidence to support this across a variety of models.
Is a BMW a good investment?
Buying a BMW is undoubtedly a big commitment, so it’s natural to wonder whether it’s a good investment.
It’s important to remember that investing in any supercar is a ‘long game’ – but when it comes to BMW, that investment will eventually pay off.
Cars with a limited production run are likely to increase in value over the years, as rarity makes them desirable among buyers. One example is the BMW M635i, of which fewer than 6,000 units were ever produced. This puts it on many collectors’ wish lists, thereby increasing its value.
If you’re looking to invest in a BMW, look out for limited editions and find out which cars currently on the market are likely to become popular with collectors. The limited edition Final V-12 cars, announced in January 2022, is likely to be a good investment, as the 12 new vehicles will each have a number of unique features.
The BMW 1M, produced in 2012, has increased in value from its original price of £40,000 over the years. This isn’t surprising, given that only around 6,000 were made during its production run from 2011 to 2012. Of those, only 450 were sold in the UK.
If you’re buying a new BMW as an investment for the future, remember to look into how many units the company intends to produce. The fewer that are made, the more likely the car is to increase in value as the years go on.
So if you’re ready to get started on an investment, it’s time to consider financing a car.
In the next section, we’ll cover the finance packages Magnitude can introduce you to.
BMW finance packages that give you the keys to your dream car
Finance packages can help you to achieve your goal of owning a luxury car – and, as we’ve mentioned, Magnitude offers a variety of finance types to bring you one step closer to getting behind the wheel of a BMW. Let’s take an in-depth look at our range to see what suits you.
Hire Purchase Finance
Hire Purchase Finance is a straightforward way to finance your new car. It will involve a deposit between 10% and 40% of the purchase price of the car – but, as previously mentioned, paying more upfront results in a smaller balance to repay.
Repayments are made monthly over a fixed period, usually 2 to 5 years, and you’ll own the car after the final repayment is made.
You will have to pay interest on the loan but, with Magnitude, you can be assured that the repayments themselves will remain the same each month, as they’re fixed at the start of the agreement term.
Hire Purchase with Balloon
Now that you’ve read all about Hire Purchases, you may be interested in this package. But did you know there’s a way to reduce your monthly repayments? With the Hire Purchase with a Balloon option, you’ll make a larger payment at the end of the finance term, meaning you’ll pay less each month. As with the standard Hire Purchase, the car will be yours once the final payment is made.
The deposit for this type of finance is between 10% and 30%, with the finance term lasting 36-48 months, so you can follow a repayment schedule that suits you.
Don’t worry if you’re struggling to choose between the basic Hire Purchase and the Balloon option. Our dedicated team is on hand to work out which finance option is best suited to your individual requirements.
If you have previous borrowing experience, Balanced Payments are a brilliant way to finance your new BMW.
With Balanced Payments, you’ll be subject to national interest rates, rather than the fixed rates that accompany Hire Purchase. This means that the amount of interest you pay could change throughout the course of the finance term, which is why we recommend it for those who have borrowed before and are familiar with the risks. If you’re a business owner, for example, this could be the ideal finance package for you!
The Balanced Payment agreement begins with a low deposit, and you’ll then make fixed monthly payments. This is great if you’re someone who values being able to plan ahead, as you’ll be able to factor the exact amount you’re paying into your budget each month. And as an added bonus, Balanced Payments are VAT-free!
Personal Contract Purchase
If you’re looking for lower monthly repayments, a Personal Contract Purchase – often known as a PCP – is an option worth considering. With a flexible deposit between 10% and 30%, Personal Contract Purchase is one of our most popular finance options.
If you’re someone who follows BMW closely and likes to drive the latest model, PCP may be perfect for you, as it gives you the option to return the car at the end of your contract. Provided it’s in good condition, you’ll have nothing more to pay! Alternatively, you can pay off the car’s Guaranteed Minimum Future Value when the contract ends, and the car is yours for good. The great thing about PCP is its flexibility, as you don’t have to decide whether you want to keep the car until the lease period finishes.
Buying a BMW: Everything you need to know
You may want more information before buying a BMW, and if so, we’re here to help. Here are the questions we’re frequently asked by people considering buying a BMW. For more information, be sure to check out our car finance FAQs here.
What BMW is the best?
Honestly, choosing the best BMW for you depends on exactly what you’re looking for in a car. It’s a no-brainer, really.
For example, if your ideal car is a recent convertible model with an electric engine, you could look into the BMW 8 Series Convertible or the 8 Series Convertible M. The 8 Series Convertible’s prices start at £84,050, while the Convertible M starts at £140,020, so the best BMW for you depends on your budget.
To give another example, if you want a BMW with a diesel engine in the region of £30,000-£40,000, the best options for you include the BMW 2 Series Active Tourer, the BMW 3 Series Saloon, and the BMW X1.
No BMW is objectively better than the others, so the best vehicle is the one that fits your lifestyle and aligns with your idea of the ideal car.
How can you get a better deal on a BMW?
If you’re looking for a great deal on a BMW, consider financing a vehicle with Magnitude. We’re committed to finding you a flexible finance plan, and with years of experience, we know exactly how to do it.
Our process involves really getting to know you and what you want in a car. We’ll ask you about the model you’re looking for, the type of engine you’d like, and any add-ons, as well as your price range. We’ll also discuss different finance packages such as Hire Purchase, Personal Contract Purchase and Balanced Payments so that you can make a decision as to which package works for you – it all depends on how and when you want to pay.
Then we’ll match you to a lender from our extensive panel. In short, we’ll do everything we can to ensure you get the best deal possible.
Buying a BMW: Choose Magnitude for a flexible finance plan
When you’re buying a BMW, Magnitude is the obvious choice for a flexible finance plan. Our range of finance packages and our established panel of more than 20 lenders means we can find the best deal for you, and we aim to do so as quickly as possible. We also have an online finance calculator, which enables you to better understand your requirements.
Our dedicated team will talk to you one-on-one to find out exactly what you’re looking for in a car in order to work out the best way for us to help you get what you want. When you choose us, the journey to securing finance revolves around you, so we offer face-to-face meetings as well as phone calls and emails – it all depends on what’s most convenient for you.
With almost thirty years of expertise, we make securing finance for luxury cars simple, and offer advice and support every step of the way. But don’t just take our word for it – you can read testimonials from previous clients that prove our commitment to helping you get behind the wheel of a luxury car.