Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #7290823
Complaint Overview
Complaint ID: 7290823
Company: Bmw Financial Services NA, LLC
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem when attempting to purchase vehicle at the end of the lease
State: South Dakota
ZIP Code: 57104
Date Received: 2023-07-23T12:00:00-05:00
Date Sent to Company: 2023-07-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
BMW Financial Services is refusing to take a payment for the lease in full as vehicle needs end of lease and I have decided to purchase vehicle. BMW Financial wont take a check unless through a captive dealership or directly from me. Now not only have I thought the vehicle was fully funded as I was told my new loan funded so I put new brakes and rotors on vehicle costing over {$700.00} but I am liable for both the lease payments and the new loan payment which hasnt even funded the vehicle as BMW refused the check from XXXX XXXX. This is a monopoly forcing me to purchase and pay more for vehicle through their dealership than using a third party to purchase the vehicle. Now I am out money there I should not be having to pay. Nothing in my original lease agreement. States that I must purchase a vehicle through a captive are authorized to BMW dealership.
Frequently Asked Questions
What is Complaint #7290823 about?
Complaint #7290823 was filed against Bmw Financial Services NA, LLC regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2023-07-23T12:00:00-05:00.
How did Bmw Financial Services NA, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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.