Monday, February 27, 2012
By Shilpa Chopra
BMW commences vehicle leasing trade in India
BMW, the German premium car maker in India today stated that they have started the leasing trade in the domestic auto market that will follow under their financial services division. Speaking on the occasion, Andreas Schaaf, BMW India President stated that BMW lease business is a fruitful step for the growth of the company in the domestic auto-region and it will avail the BMW patrons with absolute driving experience of BMW machines.
BMW will be now looking forward to avail their exotic cars on lease to both the corporate as well as the individual customers. Initially, BMW lease trade will start in six states of the company i.e. Delhi, Haryana, Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra. However, the company has already indicated that it will seek forward to add the lease operations to other states across the nation.
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The company official commented that under the finance lease contract, all the hylic risks and liabilities of the owner are transferred to the customer and at the end of the contract the customer is given an option to keep in the vehicle at a lesser price than its total market value. Speaking about the lease adornment, the official stated that BMW Financial services India would be liable for risks of ownership and when the lease tenure for the customer will end, he will have option to acclimate to a new BMW car or to purchase the car at the abounding market price.
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Furthermore, Dan DeChristopher, Managing Director and CEO of BMW India Financial Services affirmed that BMW lease trade will be a worthwhile offering for the customers and it would also benefit the customers with flexible lease tenures, customized financing options and tax redemptions. He added that BMW lease business will be a milestone in enhancing the BMW India sales in the domestic auto region.
BMW rules the Indian luxury market with its 11 stunning luxury cars i.e. – 3 Series, 5 Series, 6 Series, 7 Series, M3, M5, X1, X3, X5, X6 and Z4.