Asian Carmakers Corporation (ACC), the official importer and distributor of BMW vehicles in the Philippines, has just introduced the FlexiLease program, a new option for customers to drive away a new BMW with the utmost convenience of vehicle leasing.
During a recent briefing with Glen Dasig and Karl Magsuci, ACC-BMW's Executive Director and Marketing Manager, respectively, they explained the parameters of BMW's FlexiLease program in partnership with Asia United Fleet Management Services.
Customers availaing of the FlexiLease program will make a 10% refundable deposit on the BMW of their choice, with terms from 12 to 36 months. The monthly fees will cover insurance, LTO registration and BMW's standard maintenance services.
The FlexiLease program will allow customers -both corporate and individuals- to drive away in any BMW of their choice, and return the car after a maximum of 36 months and have their 10% deposit refunded.
Based on BMW's leasing schedule, customers can drive away a BMW 116i for a PhP229,000 deposit with a monthly payment of PhP 44,980 for 3 years. Since the leasing program covers all BMWs, you can also opt to lease a BMW 730Li for a PhP550,000 deposit and PhP108,030 for 36 months, or even a BMW M5 for a deposit of PhP1,099,000 and a monthly of PhP215,863.
As an introductory offer, ACC-BMW will give a 50% discount on the first 12 monthly lease payments of a 24 or 36 month term, meaning a BMW 116i can be had for as little as PhP22,490 a month for the first year.
“We believe that this is the right time to consider FlexiLease. Aside from designing this program for top Filipino professionals, we’re also very optimistic on the Philippine economy. With the recent upgrade of the country’s sovereign debt rating, we anticipate an influx of investors and their expatriate staff. FlexiLease is a program which we believe is very suitable for them,” said Maricar Parco, ACC-BMW President. “At ACC, we are always finding ways to make customers experience sheer driving pleasure. FlexiLease is definitely one of the most convenient ways to experience it.”
A foreign concept?
Generally speaking, vehicle leasing is seen a foreign concept in the Philippines, as the idea of paying for but not owning a car is not something most individuals are accustomed to. In the U.S. and other countries, vehicle leasing is far more common especially with corporate clients, allowing customers to drive a new car every three years without worrying about maintenance, insurance, registration and depreciation.
BMW is also keen to point out that a leased vehicle's monthly payments qualifies as an operating cost. It can be listed down as rental expenses and thus are tax deductible.
BMW's FlexiLease program allows a worry free ownership experience without the thinking of depreciation after the lease term expires. The customer can choose three options after the lease is up: end the term by returning the car refunding the deposit, use the deposit for another brand new BMW or renew the contract for another lease term.
Customers can also opt to buy the car from the leasing agency, but that would defeat the purpose of leasing, wouldn't it?