bmwhaha
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Reclaim the right Ltd
reg.05783665
reg. office:-
262 Uxbridge Road, Hatch End
England
HA5 4HS
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BMW Finance and how badly they treat you
in Vehicle retailers and manufacturers
Posted · Edited by bmwhaha
Hi Everyone,
After a very stressful few weeks we have decided to give back our car to BMW.
We would like to inform anyone that is in arrears on their unregulated credit agreeement with BMW Finance that they do not have a leg to stand on.
We are 3 months in arrears due to a business overdraft being wiped off without warning by HSBC , we contacted BMW and informed them of the problem we faced to be told the following..
We can half your payments for three months ( great you say ! ) and the catch ? on the fourth month you must pay all the arrears plus your regular monthly payment ( wow they are helpful ! )
It goes without saying we fell behind and called them again only to be told ,go and sell the car !!
Well we phoned the company direct and spoke to what we believe the finance manager who informed us that yes we could indeed sell our car to a dealer or anyone in fact, and they would give us a letter to give to the dealer to release them from the finance. Happy days we went got a good price for the car and called BMW , they said ok that leaves you a shortfall of £6000 which we will require paying over 12 months at £500 PER MONTH..no negotiation 12 months or we will re possess,we asked for 24 months, and unless you agree to that you cannot sell the car and they would not release the letter .
In closing they refuse to listen and will not under any circumstances extend your term of credit, we are returning the car this week and as far as we are concerned they can take us to court .
Make sure if are in this position put everything in writing any offers of payments ect as it will stand you well in court .
Good luck hopefully we will talk again