WOODCLIFF LAKE, N.J. — A New Jersey dealership is the first
store to start the nationwide launch of eContracting by Mini Financial
Services, a division of BMW Group Financial Services.

The captive is launching the solution at Prestige Mini in
Ramsey, N.J.  Intended to deliver greater
efficiencies and a seamless contracting approach, Mini Financial Services
indicated eContracting can enable customers to not only save time when
purchasing a vehicle, but of equal importance, diminishes any potential errors
and provides quicker funding of contracts to dealers.

According to Steve Swecker, general manager of sales
operations for BMW Group Financial Services, bringing eContracting into the
Mini dealerships furthers the company's evolution in mobility.

"While innovation is always key, the bottom line is to create
a better customer experience within F&I," Swecker said. "And saving time to
complete the traditional finance process is one of the most important areas we
can fulfill." 

He went on to say, "eContracting streamlines the entire
process and provides the dealer with an enormous efficiency that drives increased
customer satisfaction. The digital, mobile and painless eContracting process is
a natural fit for our ahead-of-the-curve Mini customers and dealers.  Innovation is the heart of our Mini Financial
Services business and the Mini brand."

Swecker noted that BMW Group Financial Services has been
utilizing eContracting since 2010, and the process is currently up and running
in 17 states, which covers 80 percent of the contract volume. 

The addition of Mini participation will reach a combination
of 250 dealerships that include both BMW and Mini throughout the country.

The company highlighted efficiencies for eContracting
include:

—Dealers realize an estimated 30 percent time savings
utilizing eContracting.

—Documents are now transmitted electronically, eliminating
the need for faxing or overnight costs such as FedEx.

—Quicker funding of a contract is realized, with near
elimination to errors.

—Dealers can securely email documents to the customer.

—Customers can complete an application for financing on an iPad
and sign the credit application electronically.

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