BMW Financial Services India has launched BMW Lease in India on 23 Feb 2012 for Individual as well as corporate luxury car buyers in India. BMW Lease entitles a customer to the JOY of driving a BMW of choice for a fixed period of time in return for a pre-decided lease rental. Mercedes Benz India was first Indian luxury car maker in India to start a similar program called Mercedes Star Lease In India in October 2011. Few months later, BMW has also launched its lease plan in India.
image – Mr. Dan DeChristopher, MD and CEO, BMW India Financial Services with Dr. Andreas Schaaf, President, BMW India
Mr. Dan DeChristopher, Managing Director and Chief Executive Officer, BMW India Financial Services said,
“BMW Financial Services in India is an integral part of BMW India’s success story, offering a portfolio of innovative tailor-made financing solutions along with unrivalled services. BMW Lease is a pioneering product, specially engineered for BMW customers, providing customized financing options, flexible lease tenures and better tax benefits. In the initial phase, BMW Lease will be launched in six states in India and will be soon offered across other BMW dealerships in the country. We are confident that BMW Lease will provide further impetus to BMW India sales.”
During the initial phase, BMW Lease will be offered in six states: Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra. The following BMW India dealerships will offer BMW Lease during the initial period: Deutschen Motoren (New Delhi), Bird Automotive (New Delhi), Bird Automotive (Gurgaon), KUN Exclusive (Hyderabad), KUN Exclusive (Chennai), Navnit Motors (Bangalore), Navnit Motors (Mumbai), Infinity Cars (South Mumbai), Bavaria Motors (Pune) and Munich Motors (Nagpur).
BMW Lease provides its customers with a one stop solution for all their automotive needs with options to choose between Finance Lease and Operating Lease. Under the Finance Lease arrangement, all substantial risks and rewards incidental to the ownership of the vehicle is transferred to the customer. At the end of the tenure, the customer is provided an option to retain the vehicle at a price substantially lower than the market price.
In the Operating Lease arrangement, BMW Financial Services India bears the risk of ownership of the vehicle, and at the end of the lease tenure a customer can decide to upgrade to a new BMW or purchase the vehicle at the prevailing market price.
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