Deal is pending with BMWFS for funding

Ask the Hackrs
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1

Hello Hackers,

This is an out of state deal, I signed and mailed all docs back last Thursday. Today I checked with the sales manager, he said the deal is pending with BMWFS for funding.

I had two leased cars, and I was able to sign and drive home within hours.

Wondering if this is normal and how long would it take normally…

Thanks for helping here.

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Probably normal for out of state deals. The dealer isn’t going to want to track down or pay to get it shipped back if the deal doesn’t fund.

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Is anything normal right now?

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Given the current situations around the country, all companies are facing a backlog of requests trying to answer customers. Patience is key. I am sure they will get back to you by the end of this week.

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5

Exactly. Who knows how many people are even working at FS right now and how inundated they are with deferral requests

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6

They’re probably busy processing all those 1 year early lease returns.

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They lost one customer for life. All hands on deck.

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@ursus seems to be normal?

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Thanks guys, it turns out the doc has not mailed to BMWFS yet. Dealership will mail it out today.

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Lol so the Sales Manager did not know that the document had not been sent yet.

At least now you know that the document will be on its way to BMW FS.

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Yea…seems another department handles that…

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Spending a decade plus in retail… this is common … The out of state paperwork comes in to the inbound mail area for dealership, Sales Manager checks it and Then gives it to accounting staff to send out. The accounting department gathers all the items to fund the deal including Invoices, floor planning audit on that car etc. and the mails it out to BMW financial and because so many people working from home they’re not equipped to handle the funding so fast.

So my bet is everything is fine, but between the accounting department of the dealership and BMW Financial, it will take a little time to fund the deal.

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13

Very normal

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14

Thanks, this is very helpful.

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Free BMW lease return guy might get as popular as Honda Accord guy.

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Update here: After a week long, I heard back from the finance manager. He told me everything is good just the payment due date is the date when the contact is drafted instead of the date when funding is approved. Once I agree this, we are good to go.

I am wondering if this is always the case? What if I don’t agree this…sounds like I am paying a week for nothing?

Thanks

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How did it go? Did you redo the contact?

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Its normal it takes time to fund deals and lease contracts have 1st payment due at signing which is when contract is drawn up.

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