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).
Dr. Andreas Schaaf, President, BMW India said, “BMW India is always at the forefront with new ideas to drive the Indian luxury car segment and further consolidate our leading position in the luxury car market. The launch of BMW Lease is a significant milestone in our growth strategy in India and will beyond doubt provide Sheer Driving Pleasure with complete peace of mind to BMW customers. BMW Lease is an easy and hassle-free way of driving a BMW with reduced cost of ownership, better residual value, simple and flexible lease tenures along with the option to retain the vehicle or upgrade to a new BMW of choice.”
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.
BMW Lease products are specifically designed to provide BMW customers with several benefits such as: a range of customised repayment options; flexibility to choose as well upgrade to a new BMW; flexibility to customize down payment, with an option of 100% funding of the vehicle cost; flexible contract terms, as well as tax benefits.
BMW customers also have the option to include BMW Service Inclusive (BSI); a comprehensive insurance program and BMW Secure Premium in their monthly rental. All these benefits offered with BMW Lease enable customers to select a BMW that best suits their driving and lifestyle needs.
BMW Financial Services India
The BMW Group launched BMW Financial Services as a new business entity in India. BMW Financial Services is a 100% subsidiary of the BMW Group and is headquartered in Gurgaon (National Capital Region). BMW Financial Services has received license to operate as a Non-Banking Finance Company (NBFC) from the Reserve Bank of India (RBI). Till date, the BMW Group has invested US $ 50 million (Rupees 2.3 billion) in BMW Financial Services in India. BMW Financial Services operates with its three business lines: Retail Finance, Commercial Finance and Insurance Solutions (through cooperation partners). The services offered through BMW Financial Services are significantly valuable to the premium clientele in India who require exclusive and flexible financial solutions.