BMW, Mini to offer 12-month (or longer) rental periods at dealerships
BMW Group Financial Services South Africa has unveiled a new product called BMW and Mini Charter, yet again changing the way vehicles can be owned and/or utilised in the local market.
Charter is a finance solution that allows consumers the use of a BMW or Mini vehicle, at a fixed monthly rental payment, without the need to consider a deposit, depreciating values, interest rate fluctuations or final balloon payments.
The finance solution is aimed at individuals who drive fewer than 20 000 km/y, prefer an inclusive finance solution, and do not want to own a vehicle.
The fixed monthly rental fee is calculated based on an individual consumer’s chosen rental period and agreed-upon mileage limit (up to 20 000 km/y).
The fee includes comprehensive insurance cover, as well as BMW’s Motorplan service plan.
Excluded from the monthly fee are fuel and toll fees, as well as certain wear-and-tear items.
Rental periods range from 12 to 54 months, with mileage parameters from 10 000 km to 95 000 km for the entire rental period.
The vehicle can be returned to a preferred approved BMW or Mini retailer at the end of the rental period.
BMW Group South Africa says it has developed the product in response to the changing needs of consumers.
“The Charter offer for our BMW and Mini brands is, we feel, the right product at the right time,” says BMW Group Financial Services South Africa CEO Stefan Schuett.
“In keeping with our mission to support consumers in realising their dreams, we want to ensure they are able to choose a vehicle finance solution that appeals to them and is aligned with their mobility aspirations.”
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