German luxury car maker BMW’s financial arm, BMW Financial Services India announced the launch of BMW Lease, the new car leasing programme for individuals and corporate customers. BMW Lease entitles a customer to the Joy of driving a BMW of choice for a fixed period of time in return for a pre-decided lease rental.
Customers are free to choose between a finance lease and operating lease agreement. In the former, all substantial risks and rewards incidental to the ownership of the vehicle is transferred to the customer while in the latter; BMW bears the risk of ownership of the vehicle. While in the finance lease, the customer has an advantage of buying the vehicle at a lower cost than the market price, the operating lease customer can buy the vehicle at the market price or upgrade to a new BMW.