Mini Financial Services to Launch in U.S.
BMW Financial Services NA, LLC (BMW FS) is launching a group of services to support the company's Mini brand. Those services will be offered through a new division, Mini Financial Services (Mini FS). Mini FS will provide financial services for retailers and customers in conjunction with the introduction of the Mini Cooper and Mini Cooper S. The cars will go on sale in the U.S. at approximately 70 soon-to-be-named retailers in March 2002 with prices starting below $18,000.
Initially, Mini FS will provide financing for retailers who want to enhance or expand their facilities in order to accommodate the new franchise. Closer to launch, Mini FS will offer wholesale financing for retailers, as well as traditional retail financing and leasing for consumers.
Further down the road, Mini FS will offer the full array of products and services available through BMW FS, such as banking deposit products and premiere credit cards through the BMW Bank of North America. Moreover, the same insurance products available to BMW customers will also be available through Mini FS.
"The launch of the Mini Financial Services demonstrates the company's commitment to its retailers, its new customers and the Mini brand," said Bob Devine, head of BMW FS operations in the U.S.
About BMW Financial Services
BMW Financial Services North America, LLC was established in 1992 as a captive finance company to support the North and Latin American sales and marketing efforts of BMW.
With more than $11 billion in managed assets and more than 364,000 customers, BMW FS leases or finances more than half of the new BMWs sold in the U.S.
BMW FS employs about 400 people, most of whom are located in the Dublin, Ohio, Customer Service Center. BMW FS also services the Canadian market and recently opened a new Financial Services company in Brazil.
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