On the heels of a similar Ford Motor Co. promotion for Lincoln and Mercury lease holders, BMW is offering payment waivers to lessees of most of its 2010 model-year lineup. The waiver of as many as three payments will allow customers to buy a new or certified-used model through BMW Financial Services. The campaign ends Oct. 31.
This isn’t the first time luxury-auto manufacturers have used incentives as yearend nears. Last November, Mercedes offered lease-ends as much as eight months early to boost new-car sales.
BMW’s latest incentive follows Mercedes-Benz's 7% sales gain last month in the luxury auto race. Last year, BMW outsold both Mercedes and Lexus; the latter had been the top-selling luxury brand in the U.S. for 11 years.
BMW’s 1 Series and 3 Series sedans and 5 Series, 6 Series, and 7 Series cars qualify for the lease pull-ahead program, as are the X3, X5, and X6 SUVs. The M versions and 3 Series coupes and convertibles are ineligible.
This is BMW’s second attempt to bypass Mercedes this year. In July, the automaker began its Specialty Demo Allowance, which offered total payments that ranged from $2,500 for some 2012 5 Series models to $7,000 for the 7 Series. The allowances, which also included the 2012 3 Series, continued through August, and helped BMW narrow the gap on Mercedes’ lead in the U.S.