"LET'S MOTOR" WITH MINI MOTORING LEASE
MINI Cooper S Lease Developed by MINI Financial Services Woodcliff Lake, New Jersey, June 24, 2002... MINI Financial Services, a division of BMW Financial Services, has customized the MINI Motoring Lease for the new MINI Cooper S. "MINI motorers are likely to seek out, and enjoy, detours along the road, and we want to make sure their lease complements their love of motoring," said Robert Devine, Managing Director of MINI Financial Services. What sets the MINI Motoring Lease apart from more mundane financial instruments is that it is developed around mileage, rather than length of term, Devine explained. A typical MINI Motoring Lease for the new MINI Cooper S would cost approximately $300 a month, plus taxes, title and license. That monthly lease payment was developed based on the following assumptions: * Total mileage of 50,000 * Price of $21,000 ($19,850 base price plus one combo package at $1,250) * Down payment of $1,000 * Term of 40 months * Motoring about 1,250 miles a month BMW Financial Services BMW Financial Services, LLC was established in 1993 as a captive finance company to support the sales and marketing efforts of the BMW Group in North and Latin America. With more than $12 billion in managed assets and nearly 400,000 customers, BMW FS leases or finances more than half of the new BMW vehicles sold in the U.S. BMW FS employs about 450 people, most of whom are located in the Dublin, Ohio Customer Service Center. All lease servicing for the United States, including credit underwriting, funding, customer service, title administration, lease-end and collections are handled in Dublin. A growing portfolio of banking and credit card offerings is also available through the BMW Bank of North America, based in Salt Lake City, Utah. BMW Financial Services, Americas Region, provides a wide range of leasing, retail, commercial and banking products tailored to meet the needs of BMW customers and dealers in the United States, Canada, Mexico, Argentina and Brazil.
