Vehicle loan or lease -- Managing the loan or lease -- Complaint #4416521
Complaint Overview
Complaint ID: 4416521
Company: Bmw Financial Services NA, LLC
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Managing the loan or lease
Sub-Issue: Problem with additional products or services purchased with the loan
State: Florida
ZIP Code: 34747
Date Received: 2021-05-29T12:00:00-05:00
Date Sent to Company: 2021-05-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I obtained my XXXX XXXX in XX/XX/2019. At the time, I requested a lease ( I have leased countless vehicles over time, including XXXX prior BMWs ). I was provided a " lease agreement '', which the dealership referred to as BMW Owner 's Choice. I was told that this is how you lease a vehicle in Georgia. I didn't think twice. 2.5 years later I went to register the vehicle in another state. That state would not register the vehicle due to the conflict between ( i ) my name being on the title and XXXX ii XXXX the lease structure of the financing agreement. Even if they could register the vehicle, it would have required a full tax payment on the leased vehicle despite only 6 months less on the lease ( since my name was on the title ). Apparently BMW temporarily ( it no longer exists in Georgia ) created this structure to circumvent leasing laws in Georgia, yet neither BMW Financial Services nor Global Imports BMW provided NO DISCLOSURES around the implications of this, including the challenges with registering the vehicle in another state. I am now stuck in a situation where I am unable to register the vehicle. I spent hours on the phone with BMW Financial Services and with Global Imports BMW, even requesting that I turn the vehicle back in early and make the full payments through the balance of the lease term, since I can not be in a possession of an unregistered vehicle. Both entities neglected to get back to me on many occasions, due to their unfamiliarity with the financing structure they put in place that no longer existed. I have now run into a dead end.
Frequently Asked Questions
What is Complaint #4416521 about?
Complaint #4416521 was filed against Bmw Financial Services NA, LLC regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2021-05-29T12:00:00-05:00.
How did Bmw Financial Services NA, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Bmw Financial Services NA, LLC?
Yes, visit the Bmw Financial Services NA, LLC company profile at readthecomplaint.com/company/bmw-financial-services-na-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.