Jaguar Land Rover Korea said Tuesday that it will be offering long-term rentals for foreign nationals as part of efforts to make it easier for them to enjoy luxury vehicles during their stay in South Korea.
Offered in connection with local capital firm KB Capital, the new rental program was created as a tailor-made service exclusively for expats ― the first of its kind in Korea ― that allows customers to rent cars on minimum conditions, Jaguar Land Rover Korea said.
|The Jaguar F-Type (left) and the Land Rover Range Rover|
All models from the British luxury carmaker sold on the market are available through the program with terms from 12 to 48 months.
“I met many frustrated expats who had been told it was impossible for a foreigner to finance a car in Korea. This is clearly not the case and together with our partner KB Capital, we have made it possible,” said David McIntyre, managing director of Jaguar Land Rover Korea.
“We care about all of our customers in Korea, whether they are Koreans or foreign nationals.”
With the exception of foreign executives on corporate lease programs, many long-term foreign residents here have complained about the long, complicated process for purchasing luxury cars through local auto finance services.
Taking a cue from Jaguar Land Rover Korea, German luxury brands like BMW and Mercedes-Benz that are operating their own financial services units in Korea are also gauging the profitability of the long-term rental program and the benefits for customers.
Jaguar Land Rover Korea said it hopes to attract more foreign customers with the new program in order to help boost its sales here.
Jaguar Land Rover is one of the fast-growing carmakers in Korea. In the first half of this year, Jaguar and Land Rover sold 1,045 and 1,904 vehicles, respectively, both marking almost 40 percent growth from a year ago.
By Lee Ji-yoon (firstname.lastname@example.org