BMW Business Lease Special offers Q4 2023.
Hey! Its Q4 already and at the time of writing, just 56 days until Christmas. And what better Christmas present than a new Electric BMW or Mini business lease, also available as a salary sacrifice car for private drivers.
Here at Ready2Lease we refresh our special offers on BMW business contract hire every quarter and my goodness do we have some great deals for you!
These are for business contract hire only, but if you are a private driver your employer may be able to offer you this vehicle through our salary sacrifice scheme. There are many great reasons to lease a BMW through your business, such as saving’s on fuel, a great company image, reduce carbon footprint and the ability to reclaim some of the VAT.
BMW iX1
iX1 30 X Line – From Just £240.26+VAT
iX1 30 M Sport - from Just £279.44+VAT
Estimated Delivery on these vehicles is: June 2024
BMW iX3
210 M Sport 80kWh – From Just £345.24+VAT
210 M Sport Pro 80kWh – From Just £370.41+VAT
Estimated Delivery on these vehicles is: June 2024
BMW 1 Series
BMW 1 Series 118i Sport Auto {Live cockpit pro} From Just £205.20+VAT
BMW 1 series 118i M Sport Auto {Live cockpit pro} From Just £215.10+VAT
Estimated Delivery on these vehicles is: December 2024
BMW i4 40 M Sport
BMW i4 eDrive 40 M Sport Auto - From Just £360.48+VAT
Estimated Delivery on these vehicles is: June 2024
BMW i5 Saloon
250 eDrive40 M Sport - From Just £390.69+VAT
250 eDrive 40 M Sport Pro – From Just £401.98+VAT
Estimated Delivery on these vehicles is: December 2024
BMW i7 Saloon
449kW eDrive50 Excellence Auto – From Just £920.87+VAT
Estimated Delivery on these vehicles is: July 2024
BMW Ix Estate
240kW xDrive40 M Sport Auto – From Just £389.89
385kW xDrive50 M Sport Auto – From Just £616.22
Estimated Delivery on these vehicles is: September 2024
BMW XM
BMW XM 5dr Auto – From Just £1251.62
Estimated Delivery on these vehicles is: September 2024
Mini Cooper S Electric
Mini Cooper S Electric level 3 – From Just £222+VAT
Mini Cooper S Electric Level 2 - From Just £219.99+VAT
Estimated Delivery on these vehicles is: December 2024
Frequently asked questions about a BMW business lease
Can I claim the VAT back on a business car lease?
Most businesses in the UK that are VAT registered can claim back 50% of the VAT against the finance element of a business contract hire. You can also claim 100% of the maintenance element on the car if you choose to take that as part of your package.
Can you use a business car lease for personal use?
Yes, if you lease a vehicle through your business, you can use the car as you see fit, so long as you have fully comprehensive insurance for whatever type of driving you are undertaking and it does not break lender rules (track days, hire for reward, taxi, ETC.) Many drivers will have a company car as their sole motor and as such would use it interchangeably.
What are the benefits of leasing a car through your business?
1) Reduce your carbon emissions by going for an electric car
2) Improve the image of your organisation
3) Claim back 50% of the VAT on the finance element
4) Claim back 100% of the VAT on the service element (if chosen)
5) Provide an excellent tool for staff retention
6) Provide a salary sacrifice scheme for your employees to save them money on their motoring costs.
What are the minimum requirements for a business lease?
To be considered for a BMW Business lease the lender will look at the age of your business, its trading history, most recent accounts filed with HMRC and the affordability of your application, amongst other things. Most lenders will expect a minimum of two years trading history but may make exceptions if a business has exceptional year one performance or assets. A director’s guarantee may be required too as well as proof of your income or company financials.
Can anyone drive a business car lease?
Yes, anyone allowed to drive a car that is on lease for the business can do so. They must have fully comprehensive insurance on the vehicle and have been authorised by the designated signatory at the entity responsible for the car.
Are there any negatives to leasing a car through your business?
As with all finance products, there are pros and cons and it’s important to choose on that’s suits your requirements. There is not a one size fits all. Some examples are:
Contract length – Most contracts are minimum of 2 years, so shorter term requirements won’t be suitable.
Mileage allowance – Whilst you can choose any mileage, you need to be able to give a rough estimate of your annual usage, or you face either paying too much per month or not paying enough, and receiving a bill at the end for excess mileage.
Termination charges – If the driver leaves the business and you cannot re-deploy the car with another driver, your only option may be to terminate the contract. The typical penalty for doing so early is 50% of any remaining rentals. For example, 3 monthly payments would be required to hand back the vehicle 6 months early.
Want to learn more about the BMW X Range? Check out our article from Summer 2023.
*Rates are correct at time of publishing and are subject to change at any time. Based on 24 month contracts with 12 rentals in advance and 5000 miles per annum. All payment profiles, terms and mileage are available to order depending on your business requirements.
Ready2Lease LTD is a member of the British Vehicle Rental and Leasing Association (BVRLA)