Following suit, BMW has also announced its plans to lease its cars in India after Mercedes Benz announced its plan to do the same, a few days ago. Dr. Andreas Schaaf, President of BMW India, stated, “We will become the first company to introduce leasing in India.”
The announcement comes as a surprise, as it was anticipated Mercedes-Benz (after it made the announcement to start leasing its cars in India) would be the first carmaker to start leasing its cars in India. When quizzed as to when the company would start leasing its cars, Mr. Schaaf commented “very soon.”
As it goes with the concept with of leasing, the customers will be able to drive a new BMW for almost half the price for a period of 3-4 years. After the stipulated time period, the customers would be given the choice to either buy the car by paying the remaining amount, or can return the car and lease another new car from the company. BMW also plans to soon open second hand outlets, which would retail the cars returned by the customers once their lease term is over.