Ex Lease Cars For Sale

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Luxury cars become affordable with BMW India is planning to rent cars to individual customers do not prefer outright purchase.

The German carmaker will lease the cars for specific periods and bring them to resale.

BMW, which overtook its rival Mercedes-Benz World to achieve leadership in the market for luxury cars interior in 2009, seeks to consolidate its market share in the market for luxury cars 9,000 units per year. The rental company will also help the company to accumulate stocks for its used car - BMW Premium Selection - to be launched by the end of the year.

Under this, BMW will sell cars returned by customers, after some years of use as well as the fleet owned by the company used its own leaders. The company re-furbished the old cars and sell them under its own warranty and a full service backup through its dealers as it does for its new cars.

BMW India president Peter Kronschabl told ET, "Over the three years of operation, we realized that many customers want to own a BMW product, but not exactly buy it at regular price ex-showroom. We are corporate leasing, but it is the first time that we take advantage of individual customers. "

BMW sold 3619 units against 3247 Mercedes-Benz in 2009. It will also invest 50 million dollars in its car loan business - BMW Financial Services - to provide retail financing for buyers of BMW and finance dedicated to dealers. Companies will also provide automobile insurance covers customers with a local partner. "Used Car customers are treated equally with the owners of new cars.''

BMW also announced plans to manufacture its entry-level vehicles sport utility vehicle (SUV), the X-1 at its plant in Chennai at the end of the year. The new SUV will be the cheapest car in the BMW and will be placed below the 3Series that comes to Rs 27 lakh (ex-showroom) Delhi.