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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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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
 

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Discussion Starter · #3 ·
ard said:
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
Did my post hint that I blame anyone here? I think not.

ah, I'm sick of this place too.
 

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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?:confused:


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

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Discussion Starter · #6 ·
Ocean's M5 said:
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?:confused:


Either way, good luck in your ventures and I hope you are happy in the end.
It's leased through BMW Leasing (BMW Bank), through one of the few major and approved BMW dealerships in Germany.
 

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

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

ah, I'm sick of this place too.
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
 

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lasseoe said:
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]
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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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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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.
 

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lasseoe said:
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.

They made you an written offer, and you transferred the money to their account as they requested and within the period of time they specified and before selling to the other dealer? If so it's YOUR CAR. Hope you work it out.
 

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Lass threaten to expose this tactic in the national press. mention the two friends you have 1 of whom's a motoring journalist in a national magazine, the other who works for a national newspaper..

Mention this to a senior manager at the dealership.. mention it to someone at BMW the parent .. and then make sure you follow it up in writing..

Just an idea.
 

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dmc,

I do not see any sense in this. If it was his right to purchase the car due to the leasing contract, he should drawn this case to court, because this is the only way to get the beloved M back.
If the final purchase was not part of the contract, he should better forget about newspaper stories before he is the one that is brought to court for badmouthing others.
I can not find a hint that BMW made him write an offer, he just stated that he wrote one (perhaps without being asked to do so?).

Lasse, could you clear those details a bit?
I also leased my M5 and would not want to experience anything linke that, so the whole story would be helpful.
 

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Presumably if the dealership were doing something likely to be enforced in the courts, then lass would have taken them to court. the point is big companies often try to bully the small guy. And you have to play clever to get their attention, and the one thing BMW don't want is bad press.
I have been on the recieving end of a few things like this. Gateway Computers/Insurance Companies etc.. and you have to fight all the way to get what is just yours by rights.. Now this is wrong, but its the way of the world.. and 9/10 it works against the small guy, but if you fight back, often you can win.
 

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ard said:
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.
Ah...give lasseoe a break. :crying: Many can learn from this.

I wonder if most people don't know how leases work. Maybe it's better off he doesn't buy BMW again. Even though his dealer is an independent franchise, they represent BMW. They think they've made a short-term profit selling it to a higher bidder, but hopefully the word spreads out about this crooked dealer and people will stop going there. The dealer probably had every right to do what they did, but they could have communicated to lasseoe better. lasseoe, what's the name of that dealer, so that locals on the board can stay away from them? If this is a common practice, then we all can learn to protect ourselves. This is what the board is all about; we're here to help each other.:7:
 

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Philip said:
They made you an written offer, and you transferred the money to their account as they requested and within the period of time they specified and before selling to the other dealer? If so it's YOUR CAR. Hope you work it out.
I think this is right lasseoe. They took a ton of your money as if it was a deposit. This is money that you could have used somewhere else, i.e. interest income. You lost twice. I don't know about the legalities, but if all the t's and i's were made and physical cash was transferred upon that deal, then the dealer strikes another deal date-dated after yours, then I would think you would have a legal point. Your deal superceeds the second based on the dtd of the contract. Ask for documentation on the second deal. You probably already have; it was inferred in their letter to you. Now, if they would have took the cash from you instead of you giving it to them, then they definitely would be screwed. Realize that I am not a crooked lawyer, so what I'm saying might not mean anything.
 

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a_ok2me said:
Ah...give lasseoe a break. :crying: Many can learn from this.
Yeah, I know- I was having a Dr. Laura moment (beating up on the poor and defenseless for entertainment and to point out something).\

I hope someone here can help- or he will fight these guys (if he can). He may not have a legal leg to stand on, but sometimes one can find a sympathetic ear or twist an arm to get things to go your way...

Clearly a big difference between USA and Germany with financing arrangements.
 

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No one to blame but yourself! Stop being a sore loser! Get up and move on!
 
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