lasseoe

This is it.. BMW screwed me over big time when my lease came up and I had the option buy it out. So they had it valued at slightly more than the rest value which pissed me off but it wasn't all that bad so all I could do was play along. Gave them my offer, the price mentioned in the letter, waited and waited, then got a phone call saying that the money I had transferred to them was going back to my account and that they'd sold the car to another dealership for slightly more.
My down payment and monthly rates were deliberately set very high so that I could buy out that car at the end for as little as possible.. oh, and I get almost nothing back from BMW, which in the end means BMW is creaming a fat 20-30k eur on top of what they already made on the lease, fscking thieves.

Never ever will I own a car from a company that f**** over it's customers this much. This also means I'll be leaving the board.

[edited for content by atomic80]

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Lasse

ard

Two comments:

Why sign a lease that didn't GUARANTEE you the right to purchase for a set LEASE END REPURCHASE PRICE? You were foolish to pay more into the lease if this was not your legal right.

This board is not affiliated with BMW. Indeed, they threatened legal action with the old name... you may wish to leave the board as you no longer own the car, but I sure hope you don't blame anyone here.

Finally, I haven't a clue as to how leases work in germany (or wherever you leased it)...Maybe it is not too late to find a knowledgeable person here to intercede?

A

lasseoe

Did my post hint that I blame anyone here? I think not.

ah, I'm sick of this place too.

Ocean's M5

It sounds like it's the Dealership that's doing the screwing and not BMW. I would try to get help from BMWNA and see if they are liable and proceded improperly. There might be compensation from that dealer to you in the form of another acquisition of another M5 at a reduced rate?


Either way, good luck in your ventures and I hope you are happy in the end.

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marinakorp

Agreed

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lasseoe

It's leased through BMW Leasing (BMW Bank), through one of the few major and approved BMW dealerships in Germany.

Kin Mak

Even if it was leased through the BMW Bank I would say you should speak to someone from the central BMW office. I cannot imagine them not helping such a disgruntled customer. If you do contact them and tell them what you told us I am sure they will have this rectified and even offer compensation.

BMW head office have the power and will do whatever they can to keep customers happy, that is the only way Luxury car companies can stay ahead.

Good luck, I know how it feels like to be taken advantaged of. The worst thing to do it is get worked up about it and not do anything about it.


- Kin

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2002m5BGM

In other words, you wanted BMW to sell you the car for less than what they could wholesale it for? And you signed a lease where they were not obligated to sell you the car for the residule value.

And you blame BMW?

ard

Separate the "I told you so" comments from the one or two helpful tips- maybe try to go higher up the chain at BMW. Maybe send Gustav a PM and ask if he has a name for you to call. Don't yell, scream and curse (to them, here is fine) but just point out that allowing their dealers to screw customers is just un-German and unethical..

Good luck- really

A

DavidS

Lasse,

I am so very sorry to hear of this. That can not be compatible with BMW policies in Germany. No way this is the normal way of doing lease business. I would definitely suggest to get a lawyer to look at the terms, and any representations the dealer might have made to you.

There are many people here who have managed to solve difficult problems with dealers thanks to advice and support from the board, so don´t let anyone put you down.

Best Regs,

David

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2000 M5 LeMans blue/Silverstone sport interior, double glass windows, all options except alcantara ceiling and trailer. Michelin PS2 tyres.

How to test the MAFs yourself:
http://www.m5board.com/vbulletin/e39-m5-e52-z8-discussion/54788-how-test-mafs-yourself-how-mafs-work.html

Some further useful threads and info:
http://www.m5board.com/vbulletin/e39-m5-e52-z8-discussion/88323-davids-som-useful-threads-info.html

alpineblue

sorry to hear your about your problem. i leased my 03 for 12 months to take advantage of large lease payments to expense through my business. payments were US$5,700 per month which left a US$14,500 residual value at the end of the lease. i CPOd the car and bought it. i don't know what your agreement said, but if you offered to buy it for the contract residual value and they ended up selling for more elsewhere, that is a rip off.

i would have freaked if my dealer sold my car after having paid US$60,000 into it. hope you get things worked out.

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Mark

2003 M5, Alpine White, Lemans Blue Interior, Dinan S2, Brembo Brakes.

hydreliox

Hello Lasse,

sorry to hear about this, but in Germany there are usually two different types of leasing-contracts. It depends on wether you lease the car as a private customer or not. Private customers always have the opportunity to buy the car out at the end of the contract, whereas business customers do not necessarily have this right, this has to be negotiated separately.
Who was party of the contract - you or your business? If it was your business, BMW Financial Services did most propably nothing more than what they were allowed to do due to the type of the contract.