The luxury car segment has seen a considerable rise in demand over the past few months triggering many players to introduce their high end models in the Indian car market. Among them the long standing players like Mercedes Benz has even expanded its operations to leasing services of its vehicles for both individual and corporate customers. On similar lines, BMW, another major player in the Indian luxury car market has launched its leasing services, BMW Lease for customers. The BMW Lease entities a customer to experience the pleasure of a BMW vehicle of his choice for a fixed period of time in return for a pre-decided lease rental.
On the occasion of the launch, Mr. Dan DeChristopher, Managing Director and Chief Executive Officer, BMW India Financial Services said that the BMW Financial Services has been a important part of the success of BMW in India. Initially BMW Lease will be offered in 6 states; Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra. The company has also listed out the dealerships which will be providing the facility in different regions. They include 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).
There are 2 modes in which one can lease a BMW car, Finance Lease or Operating Lease. Under the Finance Lease scheme, 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. On the other hand, under 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.
