Company: BMW Financial Services


Company:  BMW Financial Services 

Nature of Complaint: Vehicle lease; Managing the loan or lease 

Result: 

Response from Company: Closed with explanation

Complaint:  I had fraudulent activity on my checking account. I had to request stop payments to conserve cash to pay my rent. I opened a new checking account but the issues continued and it takes up to 90 days to get money back. BMW Financial Services would not take my bank account or debit because of the returned automated processing with changing accounts and the fraudulent activity. They did not provide an easy way to pay them and instead harrassed me and accused me of setting up payments and canceling them. They also charged late payments and reported negative credit. I am working with XXXX XXXX XXXX to draft a letter for the payments due to fraud activity but they are still refusing to acknowledge any issues of this kind which is UNFAIR and UNJUST!. I have always paid them timely. They did not provide me a way to pay online or over email. I had to call and listen to several include a supervisor say accuse me of delinquency rather than provide a way to pay. Of course, being upset, they would not provide the way to pay until just today XXXX/XXXX/2015 by XXXX XXXX after several months of advising of the situation. I had to make a choice, pay rent or pay car. I let them know I would pay as soon as I got the money for the fraud ( I do n’t have it all back ) but today I am paying them in full vs having food etc. for the rest of the month. There should be policies in place if you have fraudulent activity that vendors will allow letters from bank to waive the fees and provide an easy way to pay versus harrassing their clients. I am sick with their poor services and chastasizing me. I do n’t want to do business with them in the future.. ( 1377980)

 

Submitted on 5/15/15 by a consumer in CA

 


Company:  BMW Financial Services 

Nature of Complaint: Vehicle lease; Taking out the loan or lease 

Result: 

Response from Company: Closed with explanation

Complaint:  I am submitting this complaint related to actions taken by BMW Financial Services. I have attempted to contact BMW Financial Services Office of the CEO, Office of the President or whatever department that handles escalated customer complaints and not received any response to my complaint. To close out my XXXX, three year lease I received a statement for {$1700.00}. The charges are purported to support damages ” assessed for my usage of the XXXX BMW. This is the third consecutive BMW that I have leased and I have never previously been assessed any amount above normal wear and tear. The question that I have not been able to have BMW FS address or explain is why the end of lease statement does not list any credit ” related to the XXXX miles under the allotted ( and paid for ) XXXX miles limit. If the discrepancy was a few XXXX miles I would not have an issue. However, the fact that the vehicle was returned with XXXX miles fewer than anticipated, does by all true measures of an automobile ‘s worth, add value to the vehicle in question. Why does BMW Financial Services choose not to recognize this fact when assessing the car ‘s condition and the related end of lease charges? It seems BMWFS ‘s end of lease process is not focused on assessing the actual condition of the vehicle but creating an unregulated revenue stream by charging exaggerated fees and not applying any eligible credits. During my prior lease, XXXX BMW 528i, I also received an end of the lease statement balance. That balance due was significantly higher than the XXXX lease end amount. I was assessed {$2900.00}. The largest amount ( {$2300.00} ) was for excessive mileage ( {$0.00} per mile ). A review of BMWFS records will confirm that I paid the XXXX end of lease statement promptly, in full and without question. There seems to be an imbalance between the way BMW Financial Services views the value of miles when a customer goes over their limit and when they are well under the mileage. As a customer who has purchased or leased XXXX BMW automobiles in the last ten year span I expected professional customer service from BMW Financial Services even though I chose to end my nine year leasing relationship. In fact, I am still a BMWFS customer on another vehicle unrelated to this complaint. However, BMWFS has not XXXX contacted me about this matter or make any attempt to justify or explain their actions. This total lack ofconsideration toward a long time customer was an eye opener and has prompted me to conclude to never utilize their services again. I believe that BMW Financial Services is not dealing with the situation of my XXXX lease fairly and consistently in how they review the value of mileage related to end of lease charges. I request an escalated review of this matter and a revised end of lease statement reflecting the appropriate mileage adjustment.. ( 1372989)

 

Submitted on 5/13/15 by a consumer in DE

 


Company:  BMW Financial Services 

Nature of Complaint: Vehicle loan; Managing the loan or lease 

Result: 

Response from Company: Closed with explanation

Complaint:  On XXXX XXXX I sold back my vehicle to XXXX in XXXX, it was purchased on XXXX XXXX. They gave me 46k for it but took off 1k due to minor rim damage, some scratches on rims. At the time of purchase in XXXX several warranties were also purchased including, rim/tire, theft, environment, etc. The dealer should have known about the rim/tire warranty as they sold it to me back in XXXX, this would have covered damage. Instead, they took off 1k off the selling price of 46k. The warranties were never canceled by the dealer, I was referred back to them by the issuing companies for cancellation. Please note, this is not the XXXX negative experience with XXXX XXXX XXXX. In XXXX I was advised by my sales rep, XXXX XXXX, I was approved for 25k by the bank. When I went in two days later on Monday, their business manager called and told me I was not approved after I left my car there to trade in. They pulled this stunt in order to get my car in, which they were very interested in with low miles, so they could buy it. My sales rep had sent me home thinking I had a bank approval. I spoke with a XXXX in their corporate office yesterday, XXXX, she stated if a claim had been submitted with warranty that would have lowered the refund amount when canceled. The cost of warranty is XXXX, there is no way they would take 1k off that for damage, maybe pro-rate it if anything. Either their math is off or they are just lying, more than likely lying so they do not have to pay me back 1k. Please advise them I will need a check for 1k to cover the difference from what I should have gotten, the rim/tire coverage should have covered the damage. Their address is XXXX XXXX # XXXX XXXX, NY XXXX. My address is XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, CT XXXX.. ( 1364534)

 

Submitted on 5/11/15 by a consumer in CT

 


Company:  BMW Financial Services 

Nature of Complaint: Installment loan; Managing the loan or lease 

Result: 

Response from Company: Closed with explanation

Complaint:  BMW Financial Services at XXXX keeps calling for a XXXX XXXX ( Not sure of spelling – that ‘s just a best guess ). These are robocalls, with absolutely no way to tell them that we have no idea who this person is. We have received at least XXXX such calls, and have attempted to call back to let them know – only to be confronted with a phone tree that has no option to speak to a human or to let them know in an automated fashion that their contact information is erroneous. This is not only harassment, but harassment of the wrong people. Please prosecute these alleged people to the full extent of the law. ( 1364394)

 

Submitted on 5/7/15 by a consumer in CA

 


Company:  BMW Financial Services 

Nature of Complaint: Vehicle loan; Taking out the loan or lease 

Result: 

Response from Company: Closed with explanation

Complaint:  On XX/XX/XXXX I came to a dealer of XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX, IL XXXX, I purchased a car for {$27000.00} a XXXX XXXX serial no. XXXX. After signing the installment contract at XXXX XXXX the very next day which would be XX/XX/XXXX I came into the dealer to exercise my right to rescind the contract within XXXX hours of the signing this contract after I noticed that the dealer and the co-conspirator XXXX Financial Services committed appraisal fraud. During XX/XX/XXXX I came into the dealer to speak to the finance manager and informed him that I was exercising my right to rescind the loan he informed me that I could not rescind the loan because it was funded. I then insisted that the law was clear that regardless of the funding I had XXXX hours by state law to rescind the contract they then started harassing me regarding rescinding the contract and the deal and to prove that they were wrong I went to XXXX and got an appraisal on the car that they sold me and the appraisal offer was {$14000.00}. I am victim of predatory lending, appraisal fraud and a victim of being denied my right to rescind a contract within the XXXX hours that the law provides. The refused to follow the laws that are in place to protect consumers. As a consumer I have the right to rescind the contract and also when I spoke to XXXX XXXX XXXX he informed me that that right was not available to me because the loan was funded. I then informed him that that was a violation of the law, and he ignored my request to contact management regarding the appraisal fraud and the right to rescind. I will be providing a copy of the installment contract, the retail buyers order and a copy of the XXXX Appraisal. I also contacted XXXX financial services, and the letter dated XX/XX/XXXX they basically said they took an assignment of the contract and that is completely wrong because they funded the loan and they would not provide me a copy of the appraisal or the loan value guidelines to fund this loan. What I have here is a dealer that is violating the law and victimizing consumers and its coconspirator XXXX Financial Services engaging in this type of consumer victimization. In their correspondence they provided me a summary of the XXXX Used Car Guide regarding the XXXX XXXX adjustment values, that report on the bottom it said appraised value item XXXX in other words they went to a website and printed a value sheet and attached it to the correspondence sheet.. ( 1352429)

 

Submitted on 5/5/15 by a consumer in IL