Okay, for some reason I thought you had done the X5 between the second credit pull and delivery.
You’re going to have a fight on your hands on the mods. I’d call the dealer and see if they can call into BMWFS to avoid the fight, Or maybe run another under the business with you as PG. I doubt the dealer wants a fight on this, or maybe they have a buyer lined up at MSRP+.
Yup. I’m thinking same. They probably have buyer over MSRP since it’s highly optioned out.
Of course it’s Catonsville…
Car was already RDR. Wouldn’t qualify for new lease incentives, unless somehow unwound.
Maybe someone paying cash? Lol 
Just a thought…and it may not be popular to all.
This thread, like the last, is going to get extremely messy.
Rather than the pile on that’s already occurred above, I suggest we focus on answering the questions at hand specifically around the diminished return piece and options for how to sort it out.
It’s an odd scenario and per usual, we don’t know the full story. We also can’t get it because the other user(s) involved have been suspended. We don’t know if changes were made on either side during the process that led to this or what happened. Different signers/registration states/whatever it may be.
To be clear, I’m suggesting this for the integrity of the content of the site and nothing more. If we can’t do it, we should lock the thread.
What’s the possibility of switching it to a one pay with FS? It may get the underwriter / mgr etc…to hit the exception key on his / her keyboard and go with it?
I think people want to eat their popcorn lol
Story is basically BMWFS found out I have a x5 with them too late and declined to fund the deal. It is more dealers fault in this for even releasing the car before funded since it was not a spot delivery. I told Ashleigh many times that I got an x5 few weeks ago so make sure dealer knows
I would have to pay $25K up front with possibility of never having someone to take over transfer. I was planning on buying this car out to be honest but I dunno, just bad taste in my mouth that more shit will happen
I must have missed something…what happened to get Ashleigh banned? I remember the last thread I saw that she finally responded and it was resolved.
Unless I’m missing something the broker has little to nothing to do with this situation.
OP could tell the broker 50 times that they just leased another X5, and the broker could tell the dealer another 50 times that this customer just leased another X5. But the dealer’s approval will be based on whatever is showing on the credit report they ran (without the X5), and ultimately it’s up to BMWFS to approve or deny in the end.
If it was denied in the end, then not much to do but just give it back.
We found out (at least I did, most already knew) in the last thread, that she is involved with the salesman at the dealership. So in this situation she isn’t “just a broker”.
Correct, broker doesn’t run your credit nor approve you, that gets done by BMW. While everyone is quick to just throw a banned broker under the bus, it really has nothing to do with her. People get approved for numerous cars at the same time every day. I am not taking the brokers side, just stating the pretty obvious.
This seems to be sort of important. How long was the delay in notification? What’s the exact language?
Edit:. Legal musing. If the contract is essentially cancelled does the arbitration clause fall away? Cause Baltimore County courts can’t be a place dealer wants to be.
Caveat Emptor.
Beautiful looking car and I’m sure you’ve put money into it with the tint and what not - I would look into doing a one-pay, it does tie your money up but it basically guarantees an approval on the deal and you do get a decent discount on the rate for doing so. Maybe the dealer will discount the car a little further to compensate. I would think that this is one solution where it doesn’t get too messy.
One-pay’s are certainly more difficult to transfer, but not impossible, either, especially if it is a killer deal. Alternatively, you can also always pursue a buyout to a BMW Store (later on into the lease) where BMW FS cuts you a check back of the one-pay amount, if you want to get out early.
Your options are to turn the car back in, find financing, find a co-signer, pay cash, or wait for the repo man to show up to take back the car.
This is BMW FS’s mess up. They should have seen an app called in previously. Dealer doesn’t want to spend time unwinding a deal if they don’t have to.
As for the mods, that’s on you to return the car to original condition since the lease contract specifies you can’t modify the vehicles without written consent. The tints are fine as long as they are legal. The spoiler is easy if you are careful taking it off. You are screwed if you sold the original wheels and I don’t know why you would get rid of them on a lease.
If they released the car to you without getting funding squared away, that IS a spot delivery
If you end up getting to keep this car for free. Which likely won’t happen.
This would the the most insane share a deal ever in the history of LH.
Imagine the messages all the @brokers on this site would receive to replicate the deal.
I agree with you sir.
As a broker we only have so much say and responsibility and our job is to put deals together to the best of our ability (and within our scope). Otherwise, it is a huge waste of everyone’s time.
That said, we don’t / can’t / shouldn’t get into the nuances of everyone’s specific credit situation. Prior to submitting the deal, we go by what the client tells us, and the bank has the final say. The dealer obviously didn’t want this to happen either. It’s extremely costly and inconvenient for all parties. Imagine working a deal for months only to have it fall apart due to credit. There’s few things that take the wind out of your sails more than that. I’m not suggesting this happened here but…it’s usually because the client didn’t disclose the full picture (again I’m only speaking in general terms and not pointing fingers/making accusations).
There must be some things that have not been made clear and that’s why I don’t think this is a healthy thread to keep open. We don’t and will never know the entire story or conversations that took place. We don’t know anything about credit scores/business or personal/who applied (individual or co)/, etc…,