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…,
I think for now Slow Mode is a good compromise. Hopefully this can get worked out to the satisfaction of everyone involved.
I got corporate involved and he admitted that dealer is at fault and should have not prematurely released the car without funding. He did ensure he’s going to force BMWs hand into approving the deal as I have possession of it. I don’t know how much truth that is but going straight to corporate cuts out the middle man of dealer he said/she said. I should have a better answer tomorrow from them but I might just wash my hands if this deal as I have a feeling bmw will ask me to put down hefty down payment.
As for broker: she isn’t at fault much but still at fault for basically not trying to help. She said take it up with BMWFS, don’t involve the dealer. Which is why I brought her name into this. Her connect could get fired for this technically that I’m driving a free car at the moment under dealerships expense
For BMWFS: they cannot repo a car they don’t own, only dealer can. They never funded the deal so it will not show up on my credit. I’m sure dealer will do everything in their power to keep this deal as they don’t want title showing repossession at 72 miles. I got confirmation from BMWFS they never received any docs for this vehicle in question at all. They don’t own it, meaning no repossession cannot take place unless dealer calls a repo service on their own dime
Who exactly is “he” and what powers does “he” hold to get it forced through BMWFS?
As for the broker, there really isn’t anything they can do from their standpoint because it’s not in her control. She got you the deal but whatever you are dealing with now is between you, the dealership, and possibly BMWFS. What exactly or how exactly would you expect her to help you for this situation?
I’m not sure how the backend works for dealerships and who owns the car. I don’t know what the terms are between the dealer and BMWFS for the vehicle. However, either may push to reposses the car as it’s a lot better to have a car than not have a car over couple thousand dollars.
GM or Finance Director
Actually the regional sales director, who oversees all the dealerships in the area. He called me a while ago and saying we are working to get you approved with BMWFS so you can keep the car
As others have mentioned I’m not sure if the broker is at fault here. Probably she shouldn’t have said to not involve the deader but then again as the dealer stated that BMWFS couldn’t fund the deal, and directly asking BMWFS might be the better option from her point of view.
Back in 2019, I went through Audi pull ahead program and the Audi was supposed to take care of the last 3 payments. After few months I got lease end statement and Audi didn’t cover the payments and the dealer couldn’t say why. I talked to AudiFS afterwards and they pointed out that the dealer messed up in a paperwork. I went back in to the dealer and they corrected their mistake.
I also saw that you posted this great deal and the broker was able to apply both penfed + OL code in the deal which some people said wouldn’t work.
I feel your frustration but I feel like we shouldn’t just blame someone without due diligence.