PressClub United Kingdom · Article.
BMW confirms F650 CS insurance and finance deals
Thu Nov 22 12:00:00 CET 2001 Press Release
Following the successful launch of the F650 CS, BMW Motorrad Great Britain has released details of new insurance and finance schemes that have been designed to cut the cost of running this exciting new motorcycle.
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Barbara Brailey
BMW Group
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Author.
Barbara Brailey
BMW Group
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Following the successful launch of the F650 CS, BMW Motorrad Great Britain has
released details of new insurance and finance schemes that have been designed
to cut the cost of running this exciting new motorcycle.
Fully comprehensive insurance from £200:
Although motorcycle and scooter insurance premiums have risen substantially
during the past few months, BMW has been able to confirm details of a fixed
rate insurance scheme that is exclusive to F650 CS riders.
Subject to certain underwriting criteria being met, a fully comprehensive
insurance premium of only £200 is available for owners aged 26 and above, while
those between 21 and 25-years-old can obtain the same policy for just £400.
Prices are applicable to all areas - subject to the standard policy excess of
£175. In addition, up to three additional riders may be included on the BMW
Insurance policy for no extra charge (based on the flat rate for the youngest
rider).
12-month BMW Select finance programme:
BMW Select personal contract purchase is available on all bikes across the BMW
range, usually over two or three years. For the F650 CS though, BMW Financial
Services has introduced a special 12-month version of this programme.
Available at participating BMW Dealers for a limited period, a deposit of just
£270 will ensure customers can ride away on a new machine. After the
completion of 11 monthly payments of £149.99= the customer has three options:
1. Hand the motorcycle back to their BMW Dealer
2. Make the optional final payment (and option to purchase fee) and keep the
motorcycle
3. Part-exchange the F650 CS for a new BMW. If they move up to a 'R' or 'K'
Series BMW, they can sell the motorcycle back to their BMW Dealer for the
guaranteed buy-back value of £4,320. As this is £270 over and above the
optional final payment value, this equity not only means the customer
effectively gets their original deposit back, but they can then put this amount
towards their next BMW.
"We wanted to give potential customers every opportunity to own this fantastic
motorcycle, which is unique in its market sector" said David Taylor, BMW's
Motorcycle Manager. "The fixed premium insurance deal will be attractive to
all powered two-wheeler owners from scooter to sports bike riders, many of whom
have been affected by rising premiums. Additionally, the BMW Select programme
offers a low-cost solution to getting on the road, and because BMW owners
continue to enjoy high residual values, a future value for the bike will be
guaranteed. Add to this the two-year unlimited mileage warranty that comes
with every new bike sold and it's clear to see the advantages of a BMW in the
real world of motorcycling."
Ends
Typical finance example:
F650 CS BMW Select - 12 months#
On the road cash price* £5,400.00
Deposit £270.00
Balance to finance £5,130.00
11 monthly payments= £149.99
Optional final payments £4,050.00**
Total amount payable £6,074.89
APR 15.9%
Guaranteed buy-back valuel £4,320.00
# Available from participating Dealers only for a limited period.
* Subject to availability. On the road cash price shown is inclusive of VAT,
12 months' Road Fund Licence, numberplate, first registration fee and
delivery. Price is correct at the time of going to print and is subject to
change without notice, as are finance rates.
= £80 acceptance fee is payable with first payment.
s Select rates are based upon 6,000 miles per annum (6,000 in total for a 12
month agreement), and the bike being returned in good condition. If you elect
to return the bike at the end of the finance agreement, this will be the bike's
guaranteed future value. Further charges will be incurred if the agreed
contract mileage has been exceeded or if the bike has not been kept in good
condition. Excess mileage will be charged at 8.5p per mile (including VAT).
** Plus a £25 option to purchase fee (including VAT) which is payable if you
elect to purchase the bike at the end of the finance agreement.
l If you elect to part exchange the bike at the end of the finance agreement
for a new 'R' or 'K' Series BMW Bike, this will be the bike's guaranteed future
value. Further charges will be incurred if the agreed contract mileage has
been exceeded or if the bike has not been kept in good condition. Excess
mileage will be charged at 8.5p per mile (including VAT).
Written quotations are available on request from: BMW Financial Services (GB)
Ltd., Europa House, Bartley Way, Hook, Hampshire RG27 9UF. Occasionally we
will require a Guarantee and Indemnity. All finance is subject to applicant
status and is available to over 18s in the UK only.
For further information please contact one of the following:
Andy Dukes 08000 131 282
Kevin Pascoe 01344 480185