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BMW Group Financial Services reaches 100,000-customer milestone

BMW Group Financial Services Great Britain, which provides finance, leasing and insurance facilities to BMW and MINI customers in the UK, reached a milestone on 10 September 2003 with the company's portfolio of active customers breaking through the 100,000 barrier for the first time.

The company's chief executive, Frank Munk, said: "We are thrilled to reach such a significant milestone in our history and are delighted to hit the 100,000 mark ahead of our forecasts.

- And in the US, LeaseTrading.com - America's marketplace for car lease transfers – has announced that it has upgraded BMW Finance's rating to "B" on its consumer-advocacy oriented website, www.releasing.com. The move follows BMW Finance's change of its standard lease policy to allow lease transfers without contingent liability. Previously, new BMW leases could not be transferred without default liability remaining with the original lessee.

"BMW's move is part of a general trend toward improved leasing policies on the part of financing companies," said LeaseTrading.com CEO Michael Penfield. "Since creating the lease transfer market more than three years ago, we have continuously lobbied financing companies to better address the needs of America's 17-million-plus leased-car drivers. We hope to see more financing companies follow BMW's lead."



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