Business Profile

Auto Financing

BMW Financial Services NA, LLC

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Complaints

This profile includes complaints for BMW Financial Services NA, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

155 total complaints in the last 3 years.
41 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Initial Complaint
Date:10/10/2022
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
To Whom It May Concern,
I would like a copy of the documents you used to verify this debt on my credit report. Because I know that you are reporting this wrongly in my credit report that results in major decreasing of my credit score. I would like this accounts to be validated if not, get removed in my credit report as it affects not just my credit score but as well as my mental health. I'm becoming more and more stress about this debt you are talking about.

BMW FINANCIAL SERVICES **********
Business Response
Date: 11/14/2022
Dear Ms.
****-******:

Thank you for
giving us the opportunity to address your issues regarding credit reporting through the
Better Business Bureau complaint process. We hope the following information and
explanation will answer the issues addressed in your complaint.

In an effort
to resolve your request, we researched your account and verified your account
was reported as 30-59 days past due on thirteen occasions, 60-89 days past due
on six occasions, and 90-119 days past due on three occasions. Enclosed for
your review is a copy of your payment delinquency statement, detailing when
your payments were due and satisfied.

Our records indicate
our office received notification of your Chapter 7 Bankruptcy filing on January
18, 2018, at which time your account was 126 days past due. On May 23, 2018 our
office received notification of the Discharge of Chapter 7 Bankruptcy. On May
29, 2018, you contacted our office and requested our office to pick up the
vehicle due to bankruptcy discharge.

The referenced
vehicle was voluntary repossessed on June 8, 2018, at which time your account
was 268 days past due. On June 11, 2018, we sent you a Notice of Sale letter,
notifying you of our intention to sell the vehicle on or after June 21, 2018,
and the steps required to regain possession of the vehicle prior to the sale
date. We then sold the vehicle at auction and applied the auction proceeds
toward the contractual balance owed. On September 11, 2018, we mailed you an
Auction Sale Breakdown, which detailed the contractual balance, and the
application of the auction proceeds. Please find enclosed the relevant
documentation you requested.

Upon receipt
of your correspondence, we conducted a thorough investigation into the
documentation you provided, as well as our account records. However, we were
not able to validate your claim of identity theft. Based on the results of our
investigation, you will remain liable for fulfilling the terms of your
financial agreement with us.

We certainly
understand how important credit reporting is to our customers. However, we are
unable to make goodwill or courtesy adjustments to the information we have
furnished to the consumer reporting agencies. In our role as a Data Furnisher,
BMW Financial Services does not instruct the consumer reporting agencies to
remove derogatory information unless we find our reporting of an account to be
inaccurate. In this instance, the data furnished to the consumer reporting
agencies is accurate.

If you have any further questions
regarding the credit reporting of your account, please contact us in writing at
the mailing address listed on this letter, as disclosed on your monthly Account
Statement.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:10/10/2022
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
This complaing has been resolved and no longer needs your attention. Thank you.

Regards,

****** ******
Initial Complaint
Date:09/21/2022
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I accept the business's response to resolve this complaint.

Regards,

** ***
Business Response
Date: 10/04/2022
Dear ** ***:

Thank you for
giving us the opportunity to address your issues regarding your insurance payoff through
the Better Business Bureau complaint process. We hope the following information
and explanation will answer the issues addressed in your complaint.

We apologize for the delay in responding to your
correspondence. Our records indicate since your email was sent; you spoke with
***** ****, BMW Financial Services Insurance Department Team Leader by
telephone on September 26, 2022 regarding the insurance payoff. As indicated by
the enclosed updated Loyalty Payment Credit letter sent to you, we have offered you $7,804.14 Loyalty Payment Credit.
This offer is good for one year from the date of loss; therefore, you must enter a new Lease Agreement or Motor Vehicle Retail Installment Contract
by August 6, 2023 to be eligible. Once the
account is established, the Loyalty Payment Credit will be applied
automatically to the new account.

We are committed to providing you with
the highest level of service. If you have any questions, please contact us at

###-###-####, Monday through Friday, from 9:00 a.m. to 6:00 p.m. ET,
or by mail at either address listed on this letter.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:09/19/2022
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My lease was up at the end of last year. I returned the vehicle and was advise there was nothing left for me to do. They never told me there was a balance owe that everything was fine. Now for months they have been asking for me to pay $350 for some fee. They should have told me about any fees when I turned the keys in but fail to do so not they want me to pay. Its wrong I never agree to anything else and if there was something due they should have informed me when I turned the vehicle back to them.. I should have no balance at all. Now they are hurting me by putting me on collections this unethical. If you can please help me resolved this matter. Reference *********/2019 BMW X5xDrive40i
Business Response
Date: 10/07/2022
Dear Mr. ******:

Thank you for
giving us the opportunity to address your issues regarding credit reporting through the
Better Business Bureau complaint process. We hope the following information and
explanation will answer the issues addressed in your complaint.

In your BBB
complaint, you state you were not advised you would be billed a $350.00 Disposition
Fee. The Disposition Fee was disclosed in Section 7 of your signed Motor
Vehicle Lease Agreement (Lease Agreement) and was further referenced in
Sections 29 and 30 of the Lease Agreement. At the conclusion of your Lease, the
Disposition Fee was then itemized on the Vehicle Return Statement dated January
4, 2022.

Your
correspondence suggests your account is in collections as a result of the
Disposition Fee. Using our internal verification methods, we confirmed your
account is not reporting as being in collections. Please note, we provide a 365-day
grace period of the Vehicle Return Statement’s balance. Should any portion of
the balance remain unpaid 365 days after the generation of the Vehicle Return Statement,
that balance would be reported as a collections balance. In this instance, your
Vehicle Return Statement was generated on January 4, 2022. A collections
reporting would be submitted to the consumer reporting agencies if you fail to
fulfill your obligation to pay the Vehicle Return Statement’s balance on or before
January 3, 2023.

Given our
investigation’s findings, your correspondence does not provide sufficient
justification to change the way we are reporting your account history to the
consumer reporting agencies under the guidelines and regulations we are
required to follow as a Data Furnisher. As a result of your dispute, we will
provide an update to the consumer reporting agencies to reflect the results of
our investigation.

If you have any further questions
regarding the credit reporting of your account, please contact us in writing at
the mailing address listed on this letter, as disclosed on your monthly Account
Statement.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:09/14/2022
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I was in a car accident on 7.20.22 driving a brand new 2022 BMW that I had leased 3 weeks prior. The value is a $48,000 vehicle. The other driver rear ended me (admitted it was his fault) and I was just notified my car was totaled and can't be repaired.
My insurance carrier is *********** ********* so they are now in litigation with the driver's insurance company (********) to get my claim paid. Until that is resolved, my insurance company has "paid" the claim.
This is where the issue is. My insurance company (***********) is paying the full value of the vehicle to BMW Financial (leasing company) instead of paying them the remainder of my lease and paying me the difference. I put $10,000 down on my vehicle that I had for only 3 weeks. My insurance company planned on paying me the difference from my lease payoff and my trade value but BMW Financial will not allow that.
I put down almost $15,000 including my trade.

I contacted an attorney and he said it is my insurance company's responsibility to "make me whole again" like I was before the accident which means they should be required to pay me the $10,000. They are refusing to do so.
Business Response
Date: 09/21/2022
Dear **** ***** ******:

Thank you for allowing
BMW Financial Services NA, LLC (BMW FS) the opportunity to address your concerns through the Better
Business Bureau complaint process. We hope you find the following information
helpful.

We
understand you are requesting we refund your $10,000.00 down payment after your
leased vehicle was declared a total loss. Please note, we are unable to refund
any amounts paid at lease inception other than refundable security deposits.

As
servicer for the owner of the leased vehicle, and pursuant to the terms
outlined in Section 20 of your Motor Vehicle Lease Agreement (Lease Agreement),
BMW FS is listed as loss payee on the vehicle’s insurance policy. Under Section
25, the insurance company is required to settle with BMW FS for the actual cash
value of the vehicle at the time of loss. Your obligations under Section 25 are
limited to any past due payments, property taxes, any deductible, or other
items deducted from the actual cash value of the vehicle by your insurance
company. The Lease Agreement provides for a “gap waiver” if the actual cash
price were less than the Adjusted Lease Balance; however, as the owner of the
leased vehicle, BMW FS is entitled to the insurance proceeds in the event of a
total loss.

Once
we received confirmation your insurance company determined the vehicle was a
total loss, your Lease Agreement was terminated through the process outlined in
Section 24, “I agree to immediately notify you if the Vehicle is damaged or
destroyed in an accident, stolen, abandoned, or taken by a police or other
government agency. If any of the above events occur, you reserve the right to
terminate this Lease.” Once the Lease Agreement was terminated, the Purchase
Option was no longer in effect.

As
indicated by the enclosed letter sent to you on September 8, 2022, in appreciation
of your business and to aid you in obtaining your next vehicle, BMW FS may be
able to offer you a Loyalty Payment Credit on your next account. The Loyalty
Payment Credit amount will be up to 50% of the amount remaining after
subtracting your contractual payoff from the insurance settlement resulting
from the total loss. Please note, the Loyalty Payment Credit cannot exceed 50%
of the sum of total monthly payments on the new lease or finance agreement.

Your
eligibility, and the amount of the Loyalty Payment Credit, will be determined
upon receipt of the insurance settlement payment from your insurance company.
The insurance settlement amount must be received, and your account must be
closed with a $0.00 balance, before the Loyalty Payment Credit can be applied
to your new account. Please note, as of the date of this letter, we have not
received the settlement payment from your insurance company.

We are committed to providing you with
the highest level of service. If you have any questions, please contact us at
###-###-####, Monday through Thursday, 9:00 a.m. to 9:00 p.m. ET, and Friday,
9:00 a.m. to 6:00 p.m. ET, or by mail at either address listed on this letter.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:09/13/2022
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My information was stolen and used to open a fraudulent account in my name please removed this fraudulent accounts from my credit report immediately.

BMW FINANCIAL SERVICES/CREDIT
******XXXX
$ 73873
Business Response
Date: 09/28/2022
Dear ******* *******:

Thank you for
giving us the opportunity to address your issues regarding credit reporting through the
Better Business Bureau complaint process. We hope the following information and
explanation will answer the issues addressed in your complaint.

In an effort
to resolve your request, we researched your account and verified your account
was reported as 30-59 days past due on two occasions, 60-89 days past due on four
occasion, 90-119 days past due on two occasions, and 120-149 days past due on
one occasion. Enclosed for your review is a copy of your payment delinquency
statement, detailing when your payments were due and satisfied.

Upon receipt
of your correspondence, we conducted a thorough investigation into the
documentation you provided, as well as our account records. However, we were
not able to validate your claim of identity theft. Based on the results of our
investigation, you will remain liable for fulfilling the terms of your
financial agreement with us.

If you have any further questions
regarding the credit reporting of your account, please contact us in writing at
the mailing address listed on this letter, as disclosed on your monthly Account
Statement.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:09/10/2022
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I accept the business's response to resolve this complaint.

Regards,

****** *******
Business Response
Date: 09/21/2022
Dear ****** *******:

Thank you for
giving us the opportunity to address your issues regarding your title through the Better
Business Bureau complaint process. We hope the following information and
explanation will answer the issues addressed in your complaint.

Upon
receipt of your complaint, we reviewed our records and find we were first
notified by you via a telephone call on September 8, 2022 that you had moved to
another state and would need documentation to assist you with your
registration. The move pack, which includes instruction and documents needed
for registration, was sent to you at the address above on the same day. On
September 12, 2022 we received the Title Release Form from the ******* ****** ******* ********* Motor Vehicle Department. Your title was then sent to them at ******* ****** ******* ********** *** *** *** * *** *** ***** ****** ******* ***** on September 13, 2022 via FedEx 2-day service. FedEx
records indicate the title was received at that location on September 4, 2022
at 9:20a. For additional questions surrounding your registration process, we
encourage you to contact the MT ******* ****** ********* directly at ###-###-####.

We are committed to providing you with
the highest level of service. If you have any questions, please contact us at

###-###-####, Monday through Friday, from 9:00 a.m. to 6:00 p.m. ET,
or by mail at either address listed on this letter.

Yours sincerely,

BMW Financial Services NA, LLC
Initial Complaint
Date:09/08/2022
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I have been suffering financially lately due to underemployment and medical illness. Despite of this, I still scheduled the regular and last car payment for the car financed by BMW Financial Services NA LLC as of 9/5/2022 per the insistence.
However, when I checked this on BMW website, the website did not reflect of my scheduled payment of $565.78. Instead, it just mentioned that I owe them just $90.00. To avoid late payment, I intended to schedule the payment of $90.00 (late payment fees which BMW refuse to remove despite financial and medical hardship) next month 10/5/2022 but their website did not have available date for 10/5/2022.
Their website automatically set the payment of $90.00 out of the blue which I intended to schedule on 10/5/2022 on 9/5/20022 instead.
My 72 month financing term will end on 10/31/2022. Their website did not permit me to cancel the $90.00 payment when I tried it more than 20 times on 9/5/2022. I even communicated this even on their support system on the internet on 9/5/2022 but I was refused assistance repetitively.
Eventually, both payments of $565.78 and $90.00 was cleared from the checking account on the same day and BMW still refused assistance to cancel accidental payment. They only suggested for me to cancel it from my bank institution instead which I would have to incur more fees.
This whole process further compounded my dire situation in which BMW finances refuses to assist their customers at this time. Even during the pandemic 2020-2021, they refuse to offer payment deferment and hounded me relentlessly for payment.
Business Response
Date: 09/16/2022
Dear ******** ***:

Thank you for
giving us the opportunity to address your issues regarding your account through the
Better Business Bureau complaint process. We hope the following information and
explanation will answer the issues addressed in your complaint.

First
and foremost, we regret to hear of your medical concerns and impacts you have
experienced due to COVID-19. We sincerely empathize with your situation.

Upon
receipt of your complaint, we reviewed your account history. To date, our
records indicate you have been assessed 18 late charges. Your Motor Vehicle
Retail Installment Contract has a contractual 10-day grace period, therefore no
late charges are assessed if payments are received within this timeframe. Also,
as long as your monthly payment is received on or before the 29th day past due, there will not be negative credit reporting. Please note, we have
already waived the maximum allowance of three late charges and no
negative credit reporting was done from July 2020 through January 2021[*******] .

Further,
our records indicate you were first advised via our Secure Message Center of
your option to defer payments specifically for COVID-19 relief on April 9, 2020
and again on October 22, 2021. A copy of both messages has been enclosed.
Additionally, we have made several unsuccessful attempts to contact you
regarding your account status via telephone, email and mail on multiple
occasions through the contact information you have provided. We first received
a call from you recently on August 30, 2022 regarding the removal of the late
charges mentioned above.

Most
recently, on September 5, 2022, you contacted us via our Secure Message Center
requesting the online payment of $90.00 you had scheduled for processing for
the same day be stopped. Unfortunately, because it had already been processed,
we were not able to complete your request. The only alternative at that point
was for you to contact your bank and request the payment be stopped before
clearing your bank account. We apologize for any confusion you may have faced
while utilizing your online account to schedule your payment. We do have
measures in place for you to review your payment selections before submission.

We are committed to providing you with
the highest level of service. If you have any questions, please contact us at

###-###-####, Monday through Friday, from 9:00 a.m. to 6:00 p.m. ET,
or by mail at either address listed on this letter.

Yours sincerely,

BMW Financial Services NA, LLC

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Complaints

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BMW Financial Services NA, LLC

BMW Financial Services NA, LLC

BMW Financial Services NA, LLC

BMW Financial Services NA, LLC

BMW Financial Services NA, LLC

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BMW Financial Services NA, LLC is NOT a BBB Accredited Business.

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