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Automakers that offer a vehicle-related product line typically sell a significant percentage of their vehicles through direct sales to consumers.
In the case of BMW, it’s a popular car-equipment brand that sells more than 1.5 million cars each year.
Automakers typically offer a financial product line to consumers through a partnership with a financial institution, but in the case to be a financial vehicle, BMW has chosen to go the direct route with its BMW Financial Services (BMFS).
The financial product is currently available only to customers who can get an auto-related loan from BMW Financial.
The company is still waiting for the approval from regulators, but the decision could be finalized in the coming weeks.
It’s unclear how much direct sales are possible with this product, since it only works for vehicles that have an automotive finance line.