German luxury automaker BMW on Thursday announced the launch of BMW Lease, the new car-leasing programme for individuals and corporate customers in India.
The company will offer vehicles for a fixed period of time in return for a pre-decided monthly rental. Available through its dealers, the service will initially be offered in six States — Delhi, Haryana, Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra.
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.
“BMW Lease is a pioneering product, specially engineered for BMW customers, providing customised financing options, flexible lease tenures and better tax benefits…
We are confident that BMW Lease will provide further impetus to BMW India sales,” BMW India Financial Services Managing Director and CEO Dan DeChristopher said in a statement.