BMW holding almost $5,000 of my money for more than 3mos!!!

[akula57]

Hi:

I turned in a 328i on March 29th and leased a 330i on the same day. In both cases I used multiple refundable deposits to reduce monthly lease payments.

I was to receive a $4,600 refund of my refundable money in approximately 4 weeks --- in the interim I gave BMW NA another $5,000 of my money for the new lease.

It's been more than 3 months and I have not received my refund. I finally called BMW NA and was told the delay is due to the dealer not deciding whether to keep or turn in the car! In addition, after I turned in the car IT WAS APPARENTLY DAMAGED ON THE DEALER'S LOT! :tsk:

I let the BMW NA person know I was a bit more than a little annoyed and indicated that after the return of my car, negotiations between the dealer and BMW NA should have nothing to do with me. Moreover, damage incurred on the car after turn in, and resultant repairs, should not delay my refund.

I asked when I would receive my payment and how much it would be (The dealer had agreed on March 29th that I would only be dinged $200 for a damaged tire --- a lot of money for a cheap tire but what can you do --- I literally got the flat while driving to the dealer! I'm also under the allowable miles by a larger margin.)

In response, the BMW NA individual, who was very nice, could not tell me when I would receive a check or for how much. I was told that I would not be charged for damage after I turned the car in on March 29th. :rofl:

Any suggestions? I'm sure I'll get it worked out eventually, but that's a big chunk of change of mine that BMW has been holding. Does anyone know the national or state (NJ) law concerning time limits on refundable lease deposits? Thanks! A day in the life, I guess...

Doug :thumbup:

[dlubin]

I turned in my 528 on 5/31, and just got my check today - after having not one, or two, but three difficult conversations with BMWFS that finally got them to fedex it to me. $5800!... Very bad lease-end experience compared to a great driving experience.

-Dan

BTW: My car was PERFECT - no excuses for the late refund...


Hi:

I turned in a 328i on March 29th and leased a 330i on the same day. In both cases I used multiple refundable deposits to reduce monthly lease payments.

I was to receive a $4,600 refund of my refundable money in approximately 4 weeks --- in the interim I gave BMW NA another $5,000 of my money for the new lease.

It's been more than 3 months and I have not received my refund. I finally called BMW NA and was told the delay is due to the dealer not deciding whether to keep or turn in the car! In addition, after I turned in the car IT WAS APPARENTLY DAMAGED ON THE DEALER'S LOT! :tsk:

I let the BMW NA person know I was a bit more than a little annoyed and indicated that after the return of my car, negotiations between the dealer and BMW NA should have nothing to do with me. Moreover, damage incurred on the car after turn in, and resultant repairs, should not delay my refund.

I asked when I would receive my payment and how much it would be (The dealer had agreed on March 29th that I would only be dinged $200 for a damaged tire --- a lot of money for a cheap tire but what can you do --- I literally got the flat while driving to the dealer! I'm also under the allowable miles by a larger margin.)

In response, the BMW NA individual, who was very nice, could not tell me when I would receive a check or for how much. I was told that I would not be charged for damage after I turned the car in on March 29th. :rofl:

Any suggestions? I'm sure I'll get it worked out eventually, but that's a big chunk of change of mine that BMW has been holding. Does anyone know the national or state (NJ) law concerning time limits on refundable lease deposits? Thanks! A day in the life, I guess...

Doug :thumbup:

[viper501]

a letter, send it certified, and don't fill it with threats. Explain the refund that is required and a deadline to have it to you by. I'd also detail a chronology of when you turned the car in and what you have done to try to resolve the situation to date. Copy it to BMW FS and to BMW NA and BMW AG, i.e. everyone and anyone. Sometimes the right hand doesn't remember that it has a left hand. :mad:

The idea is to start the papertrail now so if you have to turn it over to an attorney, BMW can't claim that they didn't know what was going on. It also will help if you try to recover interest costs and penalties. I'd also take a look at your lease agreement to see, unlikely, if it contains any obligations on the part of BMW or the dealership.

Frankly, you are right. There is no excuse for BMW FS delaying refund of your lease deposit pending the dealership's decision process. You've turned in the car. A slick plaintiff's attorney in the right state would give BMW a fit for something like this by arguing to the jury that BMW was doing this to you and 10,000 other people and making a nice chunk in interest on the extended float. :tsk:

[akula57]

A few weeks ago, I did finally receive a check from BMW after numerous calls to everyone in the org. that I could think of. I did get some high-ups looking into it and threatened to write a letter to the head of BMW NA explaining my dilemma and the poor service. I strongly suggested that charges for "excess wear and tear" be waived given the time involved and this was indeed done.

I also received a survey two days ago asking about my end of lease experience. Of course, I ripped into the process and asked to be called to discuss the situation - still waiting for the call, but at least I have my money.

Doug

[viper501]

Glad to hear that someone with sense saw that waiving the wear and tear charge was the right thing to do too. :thumbup:

[akula57]

it wasn't volunteered. Or sent by FedEx as promised. I also had to remind them I leased another BMW and that the lease termination fee should not apply. I'm still p*ssed off about it. I wonder how many people forget to ask for their deposit back and never receive it?

But, it's water under the bridge now. Thanks. :thumbup:

Doug :dunno: