You can drive a S$200,000 BMW in S’pore with just S$10,000 upfront

Have you always wanted to drive a BMW without the stress of a long-term commitment?

Belmont Lay | | Sponsored | August 28, 2022, 11:00 AM

Have you always wanted to drive a BMW in Singapore but shuddered at the thought of the hefty financial commitment?

Well, by leasing one you can do just that without breaking the bank.

Lease a BMW short-term

In the face of skyrocketing COE prices, Performance Motors Limited is offering drivers the chance to lease a brand new BMW for a fraction of the cost of buying one.

BMW Flow, BMW’s simple and hassle-free leasing programme, has a low upfront cost of S$10,000, on top of the monthly rental fee.

The lease terms are 18, 24, or 36 months – with the option to switch to another new car after every 18 months, buy the car because you love it too much to let it go, or hold on to it for a bit longer.

Before we get into the costs and the whole shabang, here are some reasons for leasing a BMW short term in Singapore.

Reasons to lease a BMW short-term

1. You get a brand new BMW for each new lease

Car leasing is essentially renting a car for a fixed lease period that can last weeks, months, or even years – depending on your needs.

But under the BMW Flow programme, the vehicle provided for each new lease will be brand new – i.e. never pre-owned or used.

To sweeten the deal, Performance Motors Limited is offering a complimentary one-month lease worth up to S$2,800 for a limited time to those who lease a brand new BMW.

2. You don’t have to worry about insurance, road tax and servicing

Car buyers are well aware of the extra, miscellaneous costs that come with ownership, but don’t realise they add up over time.

Whether it’s insurance, road tax, or maintenance, all these costs are covered under BMW Flow, providing the driver with the peace of mind of knowing their driving experience will be hassle free from the start.

If there are any issues, the BMW car can be brought back to the authorised BMW service centre at Performance Motors.

3. Lower upfront costs

Leasing is an appealing option for those who want to avoid a hefty financial commitment in the short term, especially in the face of other upcoming big purchases.

For example, putting a 30 per cent down payment on a S$200,000 car will set one back by S$60,000 at one shot – bearing in mind that COE has breached the S$100,000 psychological mark in June 2022.

A competing financial commitment on par with buying a luxury car would be buying a house, which could happen at around the same time.

On this front, leasing with BMW Flow ensures that it does not affect one’s Total Debt Service Ratio (TDSR), which is Singapore’s version of a credit score.

4. Short leasing period

BMW Flow has one of the shortest leasing durations in Singapore of just 18 months, with no early termination fee.

So, if you’re in Singapore for a short stint, for work, for example, this would be the perfect option.

Instead of buying a car and having precious capital locked up while holding on to it, all the while watching its value depreciate, leasing is a viable solution to work smarter with money.

5. Have a range of BMW models to choose from

One undeniable perk of leasing is to be given a variety of BMW models to choose from every 18 months.

Popular models include the BMW 1 Series, BMW 2 Series Gran Coupe, BMW X1, and BMW X2, which suit different needs.

Buying a car ensures you have access to a car.

Leasing a BMW from flow ensures one has a variety of cars to choose from – at any time.

The math

A BMW 1 Series, which costs approximately S$199,888 with COE, requires a $59,966 (30 per cent) down payment and a monthly payment of S$1,990, assuming a seven-year loan term and 2.78 percent interest rate.

The same car leased under BMW Flow requires a non-refundable S$10,000 sign-up fee and about S$2,380 monthly payment. (Prices are subject to latest COE bidding results.)

In comparison, a quick check in June 2022 revealed that popular used Japanese sedan cars in Singapore cost approximately S$1,500 to S$2,000 a month to rent from car leasing companies.

Interested in leasing a BMW under the Flow programme? Click here for more.

This is a sponsored article by Performance Motors Limited.

All images via BMW.