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BMW (or Bavarian Motor Works) is a German luxury vehicle manufacturer. Founded in 1916 and headquartered in Munich, BMW operates around the world, including more than 60 dealerships in Australia.
BMW is probably best known for its range of high quality passenger sedans, coupes and convertibles, often regarded as prestigious status symbols. There are also four-wheel drive BMWs, plus larger family cars and high performance sports cars available.
About BMW cars
Some of BMW’s vehicles include:
- BMW 1 series 5-door hatchbacks from $44,694.30, with sporty and dynamic design.
- BMW 2 series coupes, convertibles and active tourers from $49,904.30, with striking design and efficient performance.
- BMW 3 series sedans, touring and gran turismos from $62,819.30, with intelligent features and a focus on performance.
- BMW 4 series coupes, convertibles, and gran coupes from $77,257.30, designed to provide sporty performance.
- BMW 5 series touring and sedans from $101,465.50, for modern business needs.
- BMW 6 series convertibles, gran coupes and gran turismos from $133,957.20, with distinctive and expressive designs.
- BMW 7 series sedans from $210,661.80, designed with luxury in mind.
- BMW X series SUVs from $55,049.30, with versatile and dynamic designs.
- BMW M series sports cars from $102,541.30, combining performance, agility and precision.
- BMW i series electric cars from $74,789.30, featuring innovative technology as well as trend-setting design style.
As a luxury car brand, BMW’s prices tend to be on the higher side, starting in the mid-range for its more basic models and moving into exclusive territory for its higher-end series.
BMW is one of Australia’s leading luxury car brands, and a mid-tier player in terms of overall market share. Predominantly popular with city and suburban drivers, BMW’s prestigious designs are available in styles suitable to professionals, families, and everything in between.
As well as luxury performance, BMW offers technical innovation in several different areas. BMW Connecteddrive is an online service that links your vehicle and your smart devices, offering a range of apps to help enhance your driving experience. And the electric hybrid models of the BMW i series are designed to be the next generation in motoring.
How can I get a BMW car loan?
To afford a BMW, you may need a car loan. Rather than simply opting for dealer finance, you can use a comparison website to consider a range of different car loans, and work out which interest rates, fees, features and benefits may best suit your requirements.
To help you get a lower interest rate, a secured car loan uses the value of your BMW to guarantee the loan, though you may lose the car if you can’t keep up with the payments. An unsecured car doesn’t require security, though the interest rates may be higher.
Your car loan provider will determine how much you can borrow based on how much you can afford to repay. You may be able to borrow more than the total value of your BMW to pay for insurance and other costs, though this may cost you more to repay over the long term.
How much does a BMW car loan cost?
Here are the approximate running costs for three different BMW models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|BMW 1 series 5 door||Small prestige||78.4c||$226.03|
|BMW 3 series sedan||Medium prestige||99.2c||$286.05|
|BMW 5 series touring||Large prestige||141.7c||$408.68|
Here’s how much a five-year loan will cost for three different BMW models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|
|BMW 1 series 5 door||$44,694||
|BMW 3 series sedan||$62,819||$72,868||$76,425||$80,083|
|BMW 5 series touring||$101,466||$117,697||$123,442||$129,351|