Well, it seems BMW is all set to compete with other German Luxury Car Giant, Mercedes, in order to prove who the No. 1 luxury car brand in India is! A year back we witnessed Mercedes introduced the scheme of leasing cars to customers, called “Star Lease”. These schemes allow customers to get the chance to ride the wide ranges of beauties without actually buying them. Now BMW has introduced the same scheme called “BMW Lease” under the financial services division, to attract more interested customers towards the showrooms.
BMW India President Mr. Andreas Schaaf said: “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 Financial Services Managing Director and CEO Mr. Dan DeChristopher Said: “BMW Lease is a pioneering product, specially engineered for BMW customers, providing customized financing options, flexible lease tenures and better tax benefits. We are confident that BMW Lease will provide further impetus to BMW India Sales.”
There are two types of agreement that will be offered. One is Finance Lease another is Operating Lease.
Opting the Finance Lease Agreement will make the customer bear all the risks of owning the car. When the agreement tenure ends, the benefited customer may opt to retain the car he/she’s been using.
In case of the Operating Lease Agreement, BMW Financial Services will bear the risks of the car and at the end of the tenure; the customer will be offered to buy the car at the current market price or to upgrade to another BMW product.
As of now BMW Lease will be available only in six states: Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra. Initially the city of joy, Kolkata is excluded from the facility; though the company said that the Leasing Service will be expanded gradually to all other BMW dealerships across the country.
You wanna lease one? Well, get your bank statements and tax returns ready!
News Source: TOI