-September 2024 Special Lease Deals-
2024 Chevy Blazer EV lease from Bayway Auto Group Click here
2024 Jeep Grand Cherokee lease from Mark Dodge Click here
2025 Ram 1500 Factory Order Discounts from Mark Dodge Click here
2024 Chevy Blazer EV lease from Bayway Auto Group Click here
2024 Jeep Grand Cherokee lease from Mark Dodge Click here
2025 Ram 1500 Factory Order Discounts from Mark Dodge Click here
Thinking of purchasing your Leased BMW - Beware BMW Financial Services
Be advised - BMWFS will be absolutely rigorous in enforcing every clause in their lease which benefits them. Late payment? Guarantee you a late fee will be assessed. Want to trade your leased vehicle? Well, that contract states only YOU can buy your leased BMW - they WANT that car as they are in short supply. When it comes to the remainder of the lease - maybe not so much.
We leased our 2019 BMW X4 M40i 3 years ago and we decided to purchase at the end of the lease. We contacted BMWFS and were told we can go to ANY BMW dealer to purchase OUR OWN car. You MUST go to a dealer because BMWFS doesn't have a Florida dealer's license. We specifically asked about additional fees and we were told that the only fees we would be charged were those in our contract (residual value, sales tax, title and registration fees).
We went to both Fields BMW Winter Park and Melbourne BMW and were told by both that the car we were purchasing "as-is" as stated in the lease contract would need to be "inspected" and repaired at our additional expense. Melbourne BMW went so far as to directly lie to us and state that the inspection was required because they had to "acquire" the car before they could sell it to us - this is 100% untrue. Can't tell you how rude both dealer's representative were when challenged on these "inspections" and additional fees.
Finally, we drove 200 miles back to Delray Beach - and they completed the purchase without additional "inspections" or fees - but did admit to us they DID charge a fee until a local news station ran a story (https://www.local10.com/news/local/2022/05/20/car-dealerships-continue-to-engage-in-illegal-malpractice-with-fees-attorney-says/) about lease purchase fees and they did not want to look bad. They were very forthcoming about how BMWFS enforces - or doesn't enforce - their leases.
BMWFS could fix this at any time but don't expect them to support YOU by enforcing their contract with their dealers - "dealers are independent contractors that BMWFS doesn't control" and "Florida law allows inspection fees" per the BMWFS "escalation manager" I spoke with after being told I had to pay fees not in the contract. All it would take is one call to the GM of a dealer that is charging these junk fees - "you can't lease cars through BMWFS if you charge additional fees to our leasing customer purchasing vehicles at lease end" and the problem would be corrected.
I guess we can dream.
We leased our 2019 BMW X4 M40i 3 years ago and we decided to purchase at the end of the lease. We contacted BMWFS and were told we can go to ANY BMW dealer to purchase OUR OWN car. You MUST go to a dealer because BMWFS doesn't have a Florida dealer's license. We specifically asked about additional fees and we were told that the only fees we would be charged were those in our contract (residual value, sales tax, title and registration fees).
We went to both Fields BMW Winter Park and Melbourne BMW and were told by both that the car we were purchasing "as-is" as stated in the lease contract would need to be "inspected" and repaired at our additional expense. Melbourne BMW went so far as to directly lie to us and state that the inspection was required because they had to "acquire" the car before they could sell it to us - this is 100% untrue. Can't tell you how rude both dealer's representative were when challenged on these "inspections" and additional fees.
Finally, we drove 200 miles back to Delray Beach - and they completed the purchase without additional "inspections" or fees - but did admit to us they DID charge a fee until a local news station ran a story (https://www.local10.com/news/local/2022/05/20/car-dealerships-continue-to-engage-in-illegal-malpractice-with-fees-attorney-says/) about lease purchase fees and they did not want to look bad. They were very forthcoming about how BMWFS enforces - or doesn't enforce - their leases.
BMWFS could fix this at any time but don't expect them to support YOU by enforcing their contract with their dealers - "dealers are independent contractors that BMWFS doesn't control" and "Florida law allows inspection fees" per the BMWFS "escalation manager" I spoke with after being told I had to pay fees not in the contract. All it would take is one call to the GM of a dealer that is charging these junk fees - "you can't lease cars through BMWFS if you charge additional fees to our leasing customer purchasing vehicles at lease end" and the problem would be corrected.
I guess we can dream.
Tagged:
0