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E60 (2004 - 2010)
BMW 5-Series (E60 chassis) was first seen in the Unites States in the fall of 2003 with a 2004 Model Year designation. The E60 is now available as a 528i, 528xi, 535i, 535xi, 550i and a 535xi sports wagon! -- View the E60 Wiki

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  #1  
Old 12-31-2010, 09:08 PM
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Dking078 Dking078 is offline
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A story worth reading

Please note. These statements are mostly based on OPINION of my expirence, without a statment from them i cant truely say this is 100% facts. Enjoy.

So as some may know, i have been asking a few questions on this part of the forum about my new (to me) 550i.

Heres they story,

I go to a dealer (indepenedent) to buy a used 550i 08'. All goes well and i get the car, but next thing i know, when i go in the door today to pay off the car i find out that the dealer can't get the title! He says the BMW Financial is holding the title and supposedly says that the original Leaser wants to express his right to buy the car and that it shouldn't have been sold in the first place. Problem is that the car went to auction on the 13th and sold the 17th with me buying it from the dealer on the 27th. So he now says to give him back the car or they will repo it. My under standing is that WHY is he selling a car which he doesn't have the title to begin with. IMO when i bought the car there were people outside looking and ready to offer me CASH for me to sell it to them. Im guessing that he has gotten so many offers and realized that he could make easy money off me if he terminates my contract and takes the car back and resells it. (Which should be illegal or bad practice) I find it that he said to me that he got the car from BMW Financial not at Auction, but thanks to a member here who gave me a AutoCheck, it was proven to have been sold at a auction, and in fact when i asked about the car, he said "I can't show you whats in the folder, because it shows what i got it for AT auction. So now the lies seem be commnig together.

1. Buying a car straight from BMW F, Likely but not according to whats happened? BS..
2.Saying the car was from an Auction then liing it wasn't.
3.The possibility he wants to make cash off takign the car back himself for profit.
4.Also lies that it is a CPO but with 60k miles+? i dont think so

So what do you think? Truth? Lie? Sue-able offence for bad practice?

Any adivice?

Edit: I already have an attorney working with me on this case!
Edit #2: They could be falling into their lies, as more information collected shows they are dirty.
In such places as auto trader & their own website, the car TO THIS DAY is still listed for sale, and on auto trader the price went UP and on their site it was "Contact Us"
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2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)



Last edited by Dking078; 01-09-2011 at 09:35 PM.
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  #2  
Old 01-01-2011, 12:14 AM
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fred7821 fred7821 is offline
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Walk away , you don't need this headache.
just my opinion.
Good luck

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  #3  
Old 01-01-2011, 12:16 AM
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fred7821 fred7821 is offline
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Correction I would ask a good attorney for advice and talk to bbb

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  #4  
Old 01-01-2011, 05:08 AM
KARLPAGLIACCI KARLPAGLIACCI is offline
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Walk away from this guy. If something goes wrong with the car you would have to go back to him to possibly remedy the mishap. Plus, you got to spend money for a lawyer. I can't think of any laws that he broke criminally. Make a complaint with the BBB and let him know you are.
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  #5  
Old 01-01-2011, 05:19 AM
Munich77 Munich77 is offline
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Have you called BMW Financial to verify that this information is correct?
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  #6  
Old 01-01-2011, 06:41 AM
RED99HT RED99HT is offline
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Sorry to hear about your headache. I just purchased an '08 550 sport myself 2 weeks ago. I specifically bought a CPO car from a BMW dealer to avoid these issues. You never know what problems you will have whether it be with the dealer or the car.

As much as you may like THIS car it is not worth it IMO. If it was me I would break the deal and get your $ back if you put anything down. The lawyers will milk this through and the car will wind up costing you more than what's it worth. Plus all of your time and aggrevation to get it titled to be legal. And everytime you get in the car to drive it it may not be enjoyable because of all the crap you have been through. Make sure you send a complaint to the BBB.

Take your hard earned cash and if not a BMW dealer a place like CARMAX that stands behind thier vehicles and won't screw you over.

Best of Luck!
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  #7  
Old 01-01-2011, 06:47 AM
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dalekressin dalekressin is offline
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You are throwing your money away.
Plenty of cars out there in this buyers market.
Why fight over an 08 when an 09 is probably there for you.
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  #8  
Old 01-01-2011, 07:12 AM
greenX3 greenX3 is offline
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Quote:
Originally Posted by dalekressin View Post
You are throwing your money away.
Plenty of cars out there in this buyers market.
Why fight over an 08 when an 09 is probably there for you.
I couldn't agree more. RUN, don't walk away.



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  #9  
Old 01-01-2011, 09:04 AM
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Dking078 Dking078 is offline
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So far the story is rolling like this.

1.I will recive a paymet from the finance company (which proves they have title) and i pay it off. Simple and easy.
2.I get a letter that contract is now broken and they will come get the car by force. (unlikely)

-As for a lawyer, he is a good friend of mine and wouldn't be much of a hassle. The dealers story has a 1% chance of being in anyway possibly true.

For some who said get the down payment back, i would, BUT it was already cashed, which should mean that the contract was agreed upon and active.
What happens next will indeed be interesting, since i and at almost no loss with the car.

The absolute worst is that i loose the car and i get my down back.

Shady dealers... i tell ya!
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2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)



Last edited by Dking078; 01-01-2011 at 09:06 AM.
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  #10  
Old 01-01-2011, 10:16 AM
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jagu jagu is offline
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Read the contract, if it was unconditional and if he guaranteed title, then he has no legs to stand on. If the contract had a condition that says BMW financial is to provide the title within so many days and they did not, then he may have a point there.

Anyway, give him back the car and make him pay you something for your headache. A letter from your attorney friend might get about $1000 from the dealer.
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  #11  
Old 01-01-2011, 02:50 PM
BMWFAN275 BMWFAN275 is offline
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Just my .02, but sounds like some BMW dealer really screwed up and sent someone's car to auction who was supposed to buy out the lease. The customer is probably making a huge stink, and they are chasing the car back through the system. Otherwise, I can't imagine why else a dealer would want this car back, unless massive title fraud is involved and he can't produce a title. At any rate, I would demand a bank check or cash, and get the heck out of that deal.
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Last edited by BMWFAN275; 01-01-2011 at 02:52 PM.
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  #12  
Old 01-01-2011, 09:36 PM
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2chill 2chill is offline
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This sounds very fishy but personally, if you really like this car, I think you should fight for it. First get in touch with BMW Financial and find out what they have to say concerning the title. Then read the contract. Then talk to your lawyer friend. There are alot of questions here. 1) Why did the original leasor give up the car in the first place? He should have bought it out right before handing it to the dealer.
2) Keep in mind the dealer may be giving you all this bull**** because somebody else may have offered him MORE money to buy the car.
3) I wouldn't worry about the repo threat. You are up to date on the payment and have a contract, so they have no right to try and repo it from you.
In the end if you do decide to give it back, make sure you DEMAND compensation for the time and trouble you put into this transaction. Your lawyer friend should be able to quote you a reasonable amount. Then tell him you will be filing a report with the BBB.
Good luck and keep us posted.
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  #13  
Old 01-02-2011, 12:41 PM
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Dking078 Dking078 is offline
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Update: Still waiting on a letter stating that they want the car back

We are still watching the dealer closely and did an anonymous phone call, they said that the car is going back to auction then BMW. So we are now sure that he isn't taking in bids, but there is the possibility of a buyer already waiting.
On the other hand, BMW is generally at fault if true, why was the car sold in the first place?

My new question is what is the maximum amount of time a lease holder has to do the Buy option on his/her lease?
Take note the car was Built in July 2007. So 3yrs + build and shipping process = Due back no latter than Nov. 1 or Dec 1
The car in the 3yrs never left cailfornia and was originally registered here.
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2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)



Last edited by Dking078; 01-02-2011 at 12:44 PM.
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  #14  
Old 01-02-2011, 06:55 PM
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2chill 2chill is offline
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[QUOTE=Dking078;5737623]Update: Still waiting on a letter stating that they want the car back.
We are still watching the dealer closely and did an anonymous phone call, they said that the car is going back to auction then BMW.

What does that mean? If it's going back to the auction, then why would it go back to BMW afterwards. In fact, if the original leasor supposedly has first dibs and wants to buy it out right, why would it go back to the auction in the first place?
Instead of getting vague oral information from these people, I would demand a letter in writing explaining exactly what the situation is. It seems the more info these people give you, the more it sounds like they are B.S.ing you.
My opinion is this dealer screwed up and sold the car to you at too low of a price. Now he wants the car back to relist and sell at a higher price.
Read your contract carefully. My guess is this dealer knows he has no recourse and is trying to intimidate you with scare tactics like "taking the car by force". He probably feels you can't afford an attorney and will just give up the car without a fight. Try to get your lawyer friend involved and send a letter on his letterhead paper just to show you mean business. As a last resort, (and I mean LAST RESORT) tell him you are going to speak to a news organization. It may surprise you to see how fast he may back down and that title appears. Remember, you have the car and a contract. Time is on your side, not his. If you have the car registered but can't get the title any time soon and you are not planning on selling it, don't sweat it.
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Last edited by 2chill; 01-02-2011 at 07:24 PM.
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  #15  
Old 01-02-2011, 08:29 PM
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Dking078 Dking078 is offline
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Oh yea. Once a letter of Rescind comes in, it and the contract will go to my lawyer and he will find out what the motive is and what the truth behing this matter really is, then the ball gets rolling. Many lies are floating around, we just need to fish out the truth.
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2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)


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  #16  
Old 01-04-2011, 03:29 PM
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Dking078 Dking078 is offline
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Update: Letter of rescind came in certified and the car is still oddly for sale on multiple web sites! Letter stated that contract was broken and the car must be brought back to dealer.
__________________
2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)


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  #17  
Old 01-04-2011, 04:37 PM
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Campfamily Campfamily is offline
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Quote:
Originally Posted by Dking078 View Post
Update: Letter of rescind came in certified and the car is still oddly for sale on multiple web sites! Letter stated that contract was broken and the car must be brought back to dealer.
Just curious, what contract are they claiming was broken? The contract between you and the dealer you bought the car? Or, the contract between the original leasor and BMW? Or, something else?
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  #18  
Old 01-04-2011, 04:47 PM
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Dking078 Dking078 is offline
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Quote:
Originally Posted by Campfamily View Post
Just curious, what contract are they claiming was broken? The contract between you and the dealer you bought the car? Or, the contract between the original leasor and BMW? Or, something else?
Sale Contract broken by seller (indy dealer) and claims BMW wants the car back since the leaser wants to buy it.. Makes no sense.
__________________
2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)



Last edited by Dking078; 01-04-2011 at 04:49 PM.
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  #19  
Old 01-04-2011, 08:26 PM
BMWFAN275 BMWFAN275 is offline
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Quote:
Originally Posted by Dking078 View Post
Sale Contract broken by seller (indy dealer) and claims BMW wants the car back since the leaser wants to buy it.. Makes no sense.
Original lessor wanted to buy the car, and dealer sold it by mistake. Lessor is making a huge stink and you are the victim. Sounds like you are owed something for your trouble.
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2006 Honda Accord EX-L
Retired fleet:
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2004 Jaguar XJ8
2006 Saab 93 2.0T unfixable glitches, bye bye
1999 BMW 528i Touring
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  #20  
Old 01-05-2011, 12:01 AM
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2chill 2chill is offline
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I can't stress this enough...show everything to your lawyer. They should be sending you signed and notorized affadavits from the original leaser stating that he wants the car along with the contract between BMW and the dealer stipulating what was broken in the contract between BMW and the dealer. Who's to say the original leaser even has a legal right to the car after all of this. I still don't understand how the auction fits in. I know I'm at odds with most of the other posters on this thread, but I wouldn't go down without a fight. In the mean time, try to keep the car off the street until this is resolved.
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  #21  
Old 01-05-2011, 05:17 AM
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This quite weird. Anyway, if you have a valid contract between you and the dealer, it doesn't matter that BMW Fin wants the car back.

If you choose to give the car back, then you can buy another similar car anywhere else and sue your dealer for the price difference, if any.

Can you post a PDF of this "rescission" letter and your sales contract and remove any personal/identifying info?
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Last edited by jagu; 01-05-2011 at 05:19 AM.
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  #22  
Old 01-05-2011, 05:44 AM
greenX3 greenX3 is offline
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Give the car back and tell the dealer that you want him to put you in a rental (at his cost) until you find yourself a car like the one he's 'stealing' back from you. One bit of advice: DO NOT buy your next car from that jackass. One thing for sure...you've got an original thread here. I can't ever recall hearing of a dealer trying to get a car back that was sold in good faith. Jeez, they usually can't get 'em off the lot fast enough!

Last edited by greenX3; 01-05-2011 at 05:46 AM.
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  #23  
Old 01-05-2011, 05:55 AM
AnonCA AnonCA is offline
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RE:"Original lessor wanted to buy the car, and dealer sold it by mistake. Lessor is making a huge stink and you are the victim. Sounds like you are owed something for your trouble." Sounds to me like the dealer is the one who screwed up..either the 2nd hand dealer or the BMW center that did the lease turn-in. That's THEIR problem to fix.
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  #24  
Old 01-05-2011, 06:33 AM
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Dking078 Dking078 is offline
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Quote:
Originally Posted by jagu View Post
This quite weird. Anyway, if you have a valid contract between you and the dealer, it doesn't matter that BMW Fin wants the car back.

If you choose to give the car back, then you can buy another similar car anywhere else and sue your dealer for the price difference, if any.

Can you post a PDF of this "rescission" letter and your sales contract and remove any personal/identifying info?
Everything was faxed and given to my lawyer. As for the letter all it said was that the contract for our 2008 BMW 550i VIN:---- was broken due not being able to obtain our title from BMW and the car is to be brought back to the dealer at once, Which came from certified mail.

The car will now be put in secure locations (both gated work parking and home) If the car is repoed (which it should not be since im in no debt to the dealer) They will be held accountable for ANY damages to whom ever is left stranded.

The whole matter of the fact is that we think he is just trying to make a plausible story to get the car back for his own purposes.
Say "IF" BMW has a 60 day period to ask for the car back, it ended, as the car was returned on 9/17/10 then sold at auction 12/13/10 and then sold to me on 12/27/10. There was just wayyyy too much time passed to be asking for the car back now.

@green, yup never buying from them or reccomending them (they had a decent 7 series too ) If it weren't for X-mas the car would have been bought a few days earlier!
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2003 BMW 540i [Sterling Gray / Gray]
[Msport] [DSP] [AUX] [ICE V6] [BSWs] [DINAN Trans & Strut Bar] [M Audio Subs] [E38 lighted int. door handles] [E46 Paddleshifters] [Cubic Trim] [EURO Dash] [KONI's] [Two-tone Interior]


For Sale SOON: [PM for info!]
2 Sets of E39 OEM Maple wood "Muschelahorn" trim (No TPMS)
1 Set of E39 OEM Technical graphite trim (No TPMS)
1 Set of E39 (Matt-Chrome???) trim (TPMS)
1 E39 OEM Maple wood " Muschelahorn" Steering wheel (w/o airbag)



Last edited by Dking078; 01-05-2011 at 06:43 AM.
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  #25  
Old 01-05-2011, 06:34 AM
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Campfamily Campfamily is offline
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Quote:
Originally Posted by Dking078 View Post
Sale Contract broken by seller (indy dealer) and claims BMW wants the car back since the leaser wants to buy it.. Makes no sense.
I'm not a lawyer, but how can somebody make a demand on you regarding a contract that you are not party to? But, rather than continue to fight this, perhaps the best approach now is to give up, but demand compensation for your time and headache. Meanwhile, take that sucker out and thrash the pee out of it, see how long it will run at highway speeds in second gear!!! There are a lot of other cars out there, you'll find a replacement soon enough. I second the opinion that you should stay away from the dealer who sold you this car.
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