November 03, 2009

Just after the salesman introduced BMW's auto financing service to me, I made up my mind straight away at the 4S store, attracted by the easy acquisition process of the car, convenient financing procedure and favorable interest rate," said Ma, a 31-year-old Beijing lawyer. German luxury carmaker BMW was the first among 10 auto-financing companies to initiate the "zero interest rate" promotion campaign in China in September 2008.

After paying just 30 to 40 percent of the total, customers could drive their BMW car away and pay the rest without any interest in the following months.BMW's rival Mercedes-Benz also provides similar financing with zero lending rates to customers who have made a down payment of 30 percent."Small- and medium-sized enterprise owners like me don't have enough cash flow and even face difficulties in financing.