Vehicle loan or lease -- Getting a loan or lease -- Complaint #5245018
Complaint Overview
Complaint ID: 5245018
Company: Bmw Financial Services NA, LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Credit denial
State: Georgia
ZIP Code: 30909
Date Received: 2022-02-21T12:00:00-05:00
Date Sent to Company: 2022-03-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2022, I consumer, XXXX XXXX, went into XXXX BMW, to enter into a consumer credit transaction. The business manager, XXXX XXXX, stated he did not know what a consumer credit transaction was. I explained to him what it was and he then asked me how would he get paid for the vehicle. I explained to him he would get the money for the vehicle. He acted like he still didn't know, so I asked for a buyers order to take to a bank to enter into a consumer credit transaction. I went to XXXX XXXX, in which they stated they only do auto loans, which is a violation of 12 CFR 1431, because banks can not issue loans nor extend credit. The following day, I was attempting to extend credit through BMW Financial Services, and was denied the extension of my own credit. XXXX XXXX, stated BMW XXXX XXXX required the consumer to have a minimum score of XXXX, although there is not a law that states a consumer must have a minimum credit score.
Frequently Asked Questions
What is Complaint #5245018 about?
Complaint #5245018 was filed against Bmw Financial Services NA, LLC regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2022-02-21T12:00:00-05:00.
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.