Tried to Trade the M5 for a Mini Cooper S... very long story, sorry...

[BmwNut]

Originally Posted by 03silverM5

Thanks 4 the responses thus far. I have done some reading on the laws and unfortunately they are all in support of the STEALERSHIP. LOL go f*&king figure eh? Gotta love America at times.

Sorry I wasn't a shoulder to cry on, but you put yourself in that situation, and there is no good way to un-eff yourself out of it. You did sign a contract...right?

Originally Posted by 03silverM5

The though crossed my mind to call my bank and also report to them fraud? Let them know that someone is trying to get into my accounts and that they should deny anything asked of them regarding my accounts and loans? A

Any thoughts here folks?

Thansk again in advance,

Jason

I wouldn't go up to bat against a dealership, especially when it involves their money. I know I'm playing devils advocate here, but lets just say that these situations don't always pan out well for the customer. I hate to be this blunt, but you made your bed on this one. You can try what you want, but large companies have a way of coming out on top in matters that concern their money, especially when they didn't do anything illegal.

I know you are fuming, and are pissed, and I feel for you. Sadly there just isn't a whole heck of a lot you can do right now.

[Olyar15]

Check your local consumer laws, but I would be very surprised if they allow a cooling off period for new cars. Usually, the cooling-off periods apply to door-to-door sales, where the salesperson comes to YOUR house, and you don't have an opportunity to research the product or the price.

Unless you can show that the dealer misrepresented the product, or something in the contract is wrong, then it is binding and the dealer is under no obligation to break it. Now, in the name of customer service, they could have easily torn up the contract, but maybe the salesman really needed that sale. Maybe it was a slow month and he needed to pay rent. To you it's a car, but to him it's his livelihood.

Also, I would not falsely report fraud. That is just making a bad situation worse.

[03silverM5]

Do you all think I have any recourse if the odometer reading was off by a 100 miles or so? They reading that they had placed on the mini was not correct... That is the only thing I can think of...

[jclyman]

I am not a lawyer, but I seriously doubt you have any recourse for a 100 mile error. My GUESS would be that it would have to be 10,000 or more. Do you have any lawyer friends?

[Beemer Guy]

Wow. What a sad story. I've lost count, but I think my beast is my 45th car or so. And I'm not that old. I just like trading cars often and usually have two or more at a time. Yep - single, no kids.

So I've bought some cars that I regretted buying. Never within one day's time, that's for sure, but it happens. In fact, I test drove several Mini Coopers and ended up ordering one, got it, drove it and after a few months I realized that it was a huge mistake. I'm not the only one, because there are an awful lot of low mileage, current model year Minis on used car lots. So I'm with you there on the Mini. Great third car. Probably a good car for a college student - cute, relatively safe, reliable. But I digress.

Yes, the dealership treated you horribly. Yes, they should have torn up the contract. However, as noted, they are not legally required to do so.

I'm just thinking out loud here -- do NOT do anything that I've written in this post or any other post that I may write in the future and or have written in the past. I am not suggesting that you do anything illegal. In fact, I suggest that you do not do anything illegal. I am just hypothesizing what I might do if I were in the same situation. I am not responsible for any action that you may take that is similiar to anything that I may have written.

Got it?

I'm not sure what I would have done in your place. I probably would have made it clear to the sales manager that I was going to make life very difficult for him. Starting by talking with the GM and the owner. Then (since I live in the state capitol) I'd tell him that my neighbor, who works in the Attorney General's office, would be working with me on this problem (a bald-faced lie, but how would he know that?). Then if rational, calm threats didn't work, I'd start raising as much hell as possible, right there in the showroom, threatening lawsuits, disrupting his business, doing whatever I could legally and otherwise to make his life a living hell.

Fortunately I've never had to take things that far. You're negotiating from a point of weakness, so it makes things difficult. I suppose you could stop payment on the $3000 check (as well as the other checks) and take it from there. You've got possesion of the M5, right, so that helps. Tell the bank that holds the current note that you don't want them to accept a payoff - explain the situation to them. Put a hold on your credit reports so that no new credit can be established, preventing the new loan from going through. Call the general manager and calmly explain the situation. Be careful what you put in writing and what you put out on the Internet.

This is a lesson to everyone out there. Guy and gals, pay attention. Be very careful what you post on the Internet. Anyone can see it.

Now, here's what I think that someone in your position should do:

1) Sell the M5 yourself. You probably got some ridiculous trade-in value. I have no doubt that you could sell it yourself for more than that. I just bought my car from an individual. 155plus just bought a car from an individual. I went from NC to Chicago to get mine - he went from MA to Denver to get his. People that want these cars will go across country for a good deal or a good car. Price it reasonably, take some good pictures, and you will sell it. If you can't take pictures or can't sell things, have a friend help you. Go the BMW dealer and small independents that sell BMWs and tell them about the car. Offer any salesman that sends you a lead $500 if that lead turns into a sale. There are people looking for these cars.

2) Research the next car that you get. Then drive one. Drive two. Drive three. Don't settle for the standard 3.1 mile test drive. Drive it for an hour. Let your wife drive it for an hour. Take it home overnight. Many dealers will allow this. Why? Because most people who take it home come back and buy it. If they don't let you take it home, then walk away.

3) Don't fall in love with any car that you're buying. Make a deal, get a contract, write a deposit if you must, but make a deal and then go home. Tell them that you will come back the next day to finalize the deal. You've got to go to a wedding, take the dog to the vet, whatever, make up a reason, but leave without the car. Take a day to think about it. Look over the contract, read the fine print on the financing. Tell them that you want a blank contract to take home. They'll do that; if they don't, they have something to hide. They will fight you big time; once you walk out the door, odds are you're not coming back. Think about why that is. TAKE YOUR TIME.

Hope that helps. Again, I'm sorry that all this happened. Best of luck - keep us posted!

Michael

[3rd One]

It doesn't really sound like the dealership is the bad guy here. More importantly it seems like you two are extremely bad at making financial decisions. You traded your negative equity M5 in for a mini only to get it home and realize that you might want kids down the road? This thought never came up before that? Sure they dealership could have acted differently, but they don't owe that to you, unless it's against the law.

Then you bought your M5 back for 5k less than 24 hours later. WHAT ARE YOU DOING?

I'm heading out now to go buy a new suit, wear it around for the day, and then complain about it tomorrow when the store refuses to take it back and give me 100% of my money back.

[BCelts]

Originally Posted by Olyar15

Check your local consumer laws, but I would be very surprised if they allow a cooling off period for new cars. Usually, the cooling-off periods apply to door-to-door sales, where the salesperson comes to YOUR house, and you don't have an opportunity to research the product or the price.

Unless you can show that the dealer misrepresented the product, or something in the contract is wrong, then it is binding and the dealer is under no obligation to break it. Now, in the name of customer service, they could have easily torn up the contract, but maybe the salesman really needed that sale. Maybe it was a slow month and he needed to pay rent. To you it's a car, but to him it's his livelihood.

Also, I would not falsely report fraud. That is just making a bad situation worse.

I would also not falsely report fraud. This will only create more trouble in the long run. Instead, I would focus on finding answers to these questions:

1. Does Washington State have a contract cancellation period? For example, in Ohio (my understanding is, have not read the statute recently) any contract that has not already started to be performed is cancellable for three days. If you had the right to cancel the contract and tried to excercise that right but were denied, you may have legal grounds to stand on.

2. Is there a consumer protection statute that protects Washington residents against unfair and deceptive trade practices AND is there a right to cancel a automobile sale in a certian period of time? If so, and you tried to excercise your right of cancellation but were denied, some states would construe this as unfair and deceptive sales practices.

I believe even the devil's advocates on this tread would readily admit that if Washington has a contract cancellation period and if the original poster tried to excercise that right, then the dealership is in the wrong legally, not the original poster.

[3rd One]

Originally Posted by BCelts

I believe even the devil's advocates on this tread would readily admit that if Washington has a contract cancellation period and if the original poster tried to excercise that right, then the dealership is in the wrong legally, not the original poster.

Absolutely.

I would be very surprised if the law has such a cancellation period (in that state) and the dealer knowingly went against it. Take some responsibility for your actions and move on.

No need to whine to your local papers, attorney general, and internet forums about the fact that you can't make educated appropriate decisions regarding your financial wellbeing.

[andye39s]

I've bought/leased/traded probably 30 cars in my life so far. Maybe once or twice I experienced the buyer's remorse syndrome, maybe not quite 15 hours later, but the thought of going back to the dealer to cancel the deal never even crossed my mind.

When a new convertible bug bit me early on this summer, I thought long and hard before I traded my M. Strangely I have no regrets, and the only thing I really miss is the exhaust sound of the M5. I kept the trade simple - walked in to different dealerships with my pink slip, whoever agrees on a straight swap of pink slips will have my car. When you deal with trades involving negative equity, usually you don't end up saving as much as you think.

I'd read your posts a few months back thinking about this trade. If this trade was financially motivated, I agree with another poster that you've made a very bad decision here, given that you had a few months to really think about this. A car dealership is not Costco with its super return policy. Perhaps if you would have taken a more subdued approach with the dealership it might have cost you less - admit that you've made a mistake, let them make a little $$$ for your mistake, instead of demanding and threatening them to cancel the deal.

Just accept that this is a $5000 lesson. There is nothing you can do - as many have pointed out the dealer did nothing wrong.

[jclyman]

Just my $ 0.02. Don't put a stop payment on the check. You may end up in even more trouble.