BMW Group Financial Services is simplifying motor finance from today, with the core finance package (at any BMW or MINI) for each product being the same, regardless of the term or vehicle selected.

The only variance will be if different retailers make promotional packages available.

The UK car market is celebrating over three consecutive years of growth and the nation is funding these car purchases in the main through motor finance. Today, 76% of drivers purchase a vehicle on dealer-sourced finance.

General manager of group customer strategy at BMW Group Financial Services, Suzanne Gray, said: “The number of personal finance contracts we enter into as consumers is increasing and with this providers must keep evolving.

“We want to ensure car buyers don’t face a complicated road to getting the best value and everyone understands the terms and conditions. Our new pledge is us recognising that we could make things a lot simpler for drivers. We are proud that we are the first to market with this promise and offering.”