I recently sold my vehicle using equityhackr. The process went great. I now have BMW trying to bill me for the disposition fee even though I never turned in the vehicle to them. Is this correct do I have to py them this? Thank you for the help.
Did you reach out to equityhackr?
What did BMWFS tell you when you called and asked?
They Acted like bmw could charge me if they wanted to. Sounds like bullcrap to me. Leasehackr sold back to bmw and they are charging me a disposition fee. It’s bullshit
Let us reach out to our Equityhackr partner to see what’s going on!
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Unless they grounded the car for you and then maybe bought it from BMFS
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This isn’t the 1st time this has happened.
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The dispo fee being charged is normal for bmw unless you get another bmw. One of the few that still charge even if the car is not grounded. @myerstheman
Well, what does your contract with BMWFS say?
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Hi Ryan! Matt here from Auto Ninjas. You would need to refer to your specific lease contract with BMW, they have fairly recently began billing disposition fees to their clients no matter how you sell your vehicle. There is only one way for a BMW lease to be paid off and that is by a BMW dealer, the only way a BMW dealer may ‘waive’ a disposition fee is by providing the VIN to a new BMW that you’ve purchased at time of paying off the vehicle. There is unfortunately no way around this and anything a lender bills post-sale/post-payoff is outside of our control. I do believe BMW has a long window for having it waived if you purchase a new BMW within I believe 6 months after selling your vehicle, but please refer to BMWFS in regard to this.
It is important to remember a disposition fee is not charged solely if a car is just returned, most likely based on your lease contract, it is worded that they have the rights to charge a disposition fee afterwards unless you specifically buy your own lease directly from them, or if you buy/lease a new BMW, outside of those two situations no matter how the car is otherwise sold, paid off, purchased, etc - they retain that right. In our experience, BMW is the only lender that does this (separating dispo from payoff) and it does not appear to be 100% of the time as I am sure it comes down to what the language in each contract is and what contract was being used at time of signing.
I personally had leased a 2020 M340i a while back and sold it in 2021 (to a third party non-BMW dealer at the time) and I was not billed a disposition fee. When it comes to leases, the lenders make the rules, whether you sold this vehicle thru Equityhackr or sold it to a BMW dealer directly, the result would unfortunately be the same as they are virtually the same transaction.
Additionally, it is not uncommon for lenders to charge disposition fees on lease payoffs even when being paid in full by the appropriate brand dealer (how we bypass any brand restriction), the difference with BMW is they bill it separately, but in other cases the payoff already includes it but the disposition fee is still charged. This again is not the case 100% of the time as each brand/lender make their own rules.
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thank you for the replys. A disposition fee is supposed to be used so they can get the vehicle ready for resale. Just BMW being shady again.
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