BMW Financial Services Launches Arm for Non-BMW Brands
BMW Financial Services (BMWFS) rolled out a new subsidiary called Alphera Financial Services, which will offer financing, leasing and insurance for non-BMW brands at most BMW U.S. dealerships, according to Automotive Digest.
BMW Financial Services rolled out a new subsidiary called Alphera Financial Services, which will offer financing, leasing and insurance for non-BMW brands at most BMW U.S. dealerships, according to Automotive Digest.
The company’s financing arm is also urging dealers to consolidate coverage for F&I providers into a single entity rather than use coverage for separate lenders for each non-BMW brand. The moves comes after BMW launched a separate provider strategy for its Mini Cooper, Rolls-Royce brands. It also has a separate lender for Ford’s Land Rover SUV.
“[This move] fits in with our reputation at the No. 1 F&I provider in customer and dealer relations in the annual J.D. Power rankings,” Edward Robinson, CEO, BMWFS America Region, was quoted as saying in the article.
The move also marks BMWFS’ response to a move by GMAC and other captive lenders for non-brand business.
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