BMW HAS introduced its own in-house financial services division to the Irish car market. It is the latest car firm to enter the finance market in an effort to support sales and compensate for the withdrawal of several lenders from the market in the last three years.

According to Philip Kerry, managing director of BMW Financial Services Ireland: “With the decreased availability of consumer credit and the disappearance of many former motor finance companies, this is the right time for us to be making make this investment.”

The German premium car firm will offer finance packages to customers of new and used BMW and Mini vehicles at its 12 dealerships.

Previously finance offers at its dealerships were handled by PermanentTSB, but this agreement came to an end earlier this year.

BMW’s finance arm will provide a variety of options for customers, from hire-purchase deals to personal-contract purchases, which are similar to leasing deals. It will also offer motor insurance.