PressClub Canada · Article.
BMW FINANCIAL SERVICES ANNOUNCES THE OwnersChoiceTM PROGRAM FOR MOTORCYCLES
Fri Feb 16 12:00:00 CET 98 Press Release
Combining The Ownership Advantage of Traditional Retail Financing with The Lower Monthly Payments of Leasing BMW Financial Services Canada announced today the introduction of an innovative new program designed specifically to meet the needs of BMW motorcycle customers.
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Jochen Frey
BMW Group
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Author.
Jochen Frey
BMW Group
Combining The Ownership Advantage of Traditional Retail Financing with The
Lower Monthly Payments of Leasing
BMW Financial Services Canada announced today the introduction of an innovative
new program designed specifically to meet the needs of BMW motorcycle
customers. The OwnersChoice? program, which combines the ownership advantage of
traditional retail financing with the lower monthly payments of leasing, now
makes it easier for BMW customers to own their own bikes.
"Our market research has indicated that what customers value most about having
a bike is the pride associated with owning it," explains Walter Schauer,
President of BMW Financial Services Canada (a division of BMW Canada). "As a
result of this finding, we have designed the OwnersChoice? program - a program
that allows our customers the greatest flexibility in financing, and greater
freedom to choose from BMW's wide variety of models."
With OwnersChoiceTM, customers can choose to make equal monthly payments over
an agreed period of two to six years, amortizing the outstanding balance down
to a residual amount. At the end of that period, customers have three options:
to trade in the motorcycle, pay off the residual amount and start another
contract for a new model; keep the motorcycle by refinancing the residual
amount with BMW Financial Services; or keep the motorcycle by paying off the
residual amount.
"The introduction of the OwnersChoiceTM program is the cornerstone of BMW's
renewed emphasis on the motorcycle business in Canada," explains Edward A.
Robinson, President and CEO of BMW's Canadian operations. "We have recently
undertaken a re-structuring of the division as well as the dealer network in
order to exceed the expectations of our customers into the next millennium. We
have added three new and very well-received models in 1997 and plan to continue
the product offensive in 1998 with items that display a unique style, a unique
riding feel and industry-leading innovation. Our goal is to provide our
customers with not only 'the ultimate riding experience,' but also with 'the
ultimate ownership experience' as well."
BMW's OwnersChoiceTM program is offered exclusively through authorized BMW
motorcycle dealers across Canada, except for in the province of Quebec where
BMW offers traditional financing up to a five year term. The OwnersChoiceTM
program is scheduled to begin on March 1st, 1998.