BMW FINANCIAL SERVICES.

BMW Financial Services is a Financial Services and Registered Credit Provider. As part of the BMW Group, we are experts in the vehicles we finance. In addition to this, BMW Financial Services also provide a range of insurance products.

BMW Financial Services provides a range of Finance and Insurance products. To find out more about our finance products, refer to the product comparison on this page or click here to find out more about insurance products.

Your experience is of utmost importance to us, to ensure you reach the correct department, you can find a list of our contact details here.

• You need to be 18 years or older.

• You need to be a South African citizen or have a valid permit to live and work in South Africa.

• You need to have a valid South African driver's licence. International driver’s licenses may also be accepted, provided that certain conditions are met.

• You need to have a clear credit record.

• The amount financed needs to be more than R50 000.

• The vehicle to be financed must not be older than 10 years (further term restrictions may apply).

Yes you can, visit www.buy.bmw.co.za to find your next vehicle and apply for finance online. 

Vehicle Finance in your own name:

• Your original ID,
• your original driver′s licence,
• latest three months identifiable bank statements,
• latest payslip,
• proof of residence (not older than 3 months),
• proof of comprehensive insurance, and
• any other documents as requested for at the approval stage

Vehicle Finance in a company’s name:

• Copy of ID and valid driver′s licence,
  
• proof of business address (utility account not older than 3 months),
• proof of residence for all members (not older than 3 months)
• CK/Company Registration Documents,
• latest Annual Financial Statements not older than nine months with comparative figures, and
• latest three months bank statements in the company name.

If the vehicle you are purchasing is currently financed with us. Or, if the seller or buyer is an existing client of BMW Financial Services for a period longer than 12 months. Please visit www.alphera.co.za for more information.

Yes, through ALPHERA Financial Services, a division of BMW Financial Services (South Africa) (Pty) Ltd) NCRCP2341. Please visit the ALPHERA Financial Services website for more information.

In addition to the once off initiation fee of R1207.50, the National Credit Act allows Financial Services Providers to charge a monthly service fee of R69. These amounts are included in your monthly instalments and are also indicated in the breakdown of costs on your finance agreement. 

To change your password, please navigate to your profile, click the Change Password tab and enter your preferred password twice, then click Change Password.

You can obtain a statement, amortization schedule, or audit statement online via our MyAccount self-service portal, alternatively you can email customer.service@bmwfinance.co.za. Please note requests must be on an official letterhead if the account is in a company’s name.

Debit order dates can be amended after your first debit order has been processed and provided that we are notified at least five calendar days before the next payment is due, in order to allow for the change to be effected timeously.

The debit order date change can be made on our online self-service portal MyAccount, alternatively, contact customer.service@bmwfinance.co.za with the required date change.

Yes. Please submit a refund request via email to customer.service@bmwfinance.co.za in order to process your refund. In your request, please confirm that you will not in any way ask your bank to stop or reverse the debit order. No proof of payment is required, however a letter or email will be required requesting a reversal of this instalment.

If you realise a debit order is pending to go off your account, please don`t call your bank and ask them to stop the debit order as you may be charged a fee for this. If you do proceed in requesting your bank to reverse the debit order and then we do refund you the amount that was reversed, you will be held liable for repayment of the amount we refunded you.

Statements are sent via post or email, depending on your chosen method of communication, every second month or every quarter, as chsen by you when signing your your agreement. Statements can also be accessed online via the MyAccount self-service portal. 

In order to protect your personal information, statements sent via email have been encrypted and therefore your ID Number or Company Registration Number will be required to access the document.

Yes, a cross-border letter must be obtained before leaving the borders of South Africa.

Cross border letters can be requested via the MyAccount self-service portal. Alternatively, a written request may be sent by the account holder to customer.service@bmwfinance.co.za stating the following:

1. The country/s to be visited,

2. Date of departure and return,

3. The latest proof of insurance confirming cover outside South Africa and dates of cover.

Please note that the account must be at least six months old, account well conducted and payments up to date. Extreme circumstances will be considered, however, are subject to approval.

If the vehicle is financed in a Company Name, the request needs to be on a company letterhead and signed by the directors of the company.

If BMW Financial Services is still the vehicle’s titleholder and the account hasn`t yet been settled:

The incident will need to be reported to BMW Financial Services. Kindly note the onus lies with you and the insurer to follow up on the processing of the insurance claim. You are still required to keep paying your instalments in terms of the agreement, until the insurer has paid the settlement amount. Only your insurer has the authority to instruct BMW Financial Services to attend to the de-registration of the vehicle once assessed.

If BMW Financial Services is still the vehicle’s titleholder and the account has been settled:

If you settled your account in full, but didn`t go to the licensing authority upon receiving your NaTIS document to have the titleholder name changed, the licensing department will need BMW Financial Services approval before it accepts any documentation from you. The licensing authority will assume that the vehicle is still being financed because we (BMW Financial Services) are reflected as the vehicle`s titleholder. We can still help you with the de-registration. Please note that costs are involved and can vary from one licensing office to the next.

Yes, additional payments can be made towards either reducing the instalment, balloon amount or term on your finance agreement. Once additional payments are made, please let us know how the additional funds should be allocated, and if necessary, due to the FICA Anti-Money Laundering Regulation, source of funds to be declared. 

There are no penalties or costs applied for these deal adjustments, due to additional cash injections. 

Yes. Your monthly repayment amount can be reduced by paying additional funds into the finance agreement. Please note, prior to the change taking effect a request to caoatakuse the additional funds to reduce your monthly repayment must be submitted via the MyAccount self-service portal. Alternatively, contact customer.service@bmwfinance.co.za. Please note reductions to your monthly repayment amount cannot be made for a BMW Select or BMW Select Edge finance agreement whereby a Residual/Guaranteed Future Value is applicable.

The term on your contract can be reduced by paying additional funds into the finance agreement. Please note, prior to the change taking effect, a request to capatalise the additional funds to reduce your term must be submitted via the MyAccount self-service portal. Alternatively, email customer.service@bmwfinance.co.za. Please note reductions to your contract term cannot be made for a BMW Select or BMW Select Edge finance agreement whereby a Residual/Guaranteed Future Value is applicable.

Yes. The final balloon amount on your contract can be reduced by paying additional funds into the finance agreement. Please note, prior to the change taking effect a request to capatalise the the additional funds to reduce your balloon must be submitted via the MyAccount self-service portal. Alternatively, email customer.service@bmwfinance.co.za. Please note reductions to your contract balloon cannot be made for a BMW Select or BMW Select Edge finance agreement whereby a Residual / Guaranteed Future Value is applicable.

The settlement quotation is an amount based on the capital and interest outstanding on your finance agreement at that particular time of quoting. The quote is usually valid for 7 calendar days.

You can generate a settlement quote via the MyAccount self-service portal. Alternatively, you can email a settlement quote request to customer.service@bmwfinance.co.za. Company requests must be submitted on an official letterhead if the account is in the Company Name.

An early-settlement option is available at any stage of the finance agreement. If the principal debt (as prescribed in section 101 and 102 of the National Credit Act, No. 34 of 2005) exceeds R250 000.00 (two hundred and fifty thousand Rand) or such other amount as may be prescribed in terms of section 7(1)(b) of the National Credit Act from time to time and you wish to settle your agreement early or without advance notice to Customer Service, you will be liable for an early termination charge equal to no more than the interest that would have been payable under your agreement for a period equal to the difference between three months and the period of notice of settlement given by you. As a result of this clause, BMW Financial Services are entitled to charge the full 90 days early termination charge in respect of your agreement.

Upon settlement and closure of your account, a NaTIS document request needs to submitted to our Customer Service department. You may select from one of the below delivery methods:

• Personal Collection from BMW Financial Services (turnaround time of 24-48 hours)
• Courier (fee of R50.32 will be applicable)
• Registered mail

Please email your request to customer.service@bmwfinance.co.za with your preferred option together with an address of where the documents are to be sent.

If you settled your account early (before the agreement’s expiry date) and the payment was not made by debit order, please send us proof of payment so that we can establish whether a waiting period applies. Company requests must be on an official letterhead if the account is in the Company Name. The NaTIS document can only be released to you, the account holder. We cannot issue it to anyone else (e.g. your buyer) unless a special permission letter has been arranged between you (the seller) and the buyer and is presented.

No. When a vehicle is registered as ”new”, the first printed NaTIS certificate will not reflect a vehicle registration number. Border post officials are also able to access the licensing department’s computer system, which means they can perform audits when required.

You can either visit the MyAccount self-service portal or log your request with us. OR you can email customer.service@bmwfinance.co.za.