OK here is the deal. I am currently in a lease of a 325ci which ends on may 16th of this year. I already ordered a new car from my BMW dealership in january (525i 2006) I told teh salesman that i cannot take posession of the enw lease till my current lease is over in may.
He tried to take me out of my lease early but that ddint work out for teh dealership do we agreed that i will pick up teh new car in may when my current lease will be over.
Now the dealership calls me and tells me that if i dont take posession of the new car by Marh 31 then they cannot give it to me for the monthly ate we agreed on and ti will be over $100 more per month in the lease.
They claim that teh policy is that they can only honor the bank rates 60 days after cancelation of teh rates which emans my rates ended on Januar 31 so they can only honor that till march 31.
This was never told to me when i signed and now i have only two options
1. pick up the new car and pay for two cars for the last two months of my current lease.
2. cancel my order and lose my $1,000 deposit.
What can i do???
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| Reply » Dealer Issue, Please Help |
I was in a similar situation. My lease was up in March and my new ride arrived at the dealer in the first week of January. I was going to wait but had a lack of self control and could not hold out. I wanted the car too bad after tracking the production and its trip across the Atlantic. I ended up eating the last two payments. I tried to get BMW FS and the dealer to help me out with a payment but no luck. I had $1K coming back to me from the BMW credit card so I used that to justify eating the last two payments.
The dealer did say they would hold my car for me but never mentioned a 60 day limit for the bank rate. $100 a month increase seems extreme. I could see a swing of a few bucks either up or down but not $100.
Me personally, I would never cancel the car and go through the ordering process again.
Good luck with whatever you decide.
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| Reply » Dealer Issue, Please Help |
Try the Ask a Dealer forum but I think that the 60-day window is accurate.
Why do you lose 1k? Are deposits on cars non-refundable in NY? They are 100% refundable in CA.
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| Reply » Dealer Issue, Please Help |
i was under the impression that the deposti is non-refundable. if it is then i would cancel my order right away
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| Reply » Dealer Issue, Please Help |
Quote: | i was under the impression that the deposti is non-refundable. if it is then i would cancel my order right away | You had better check the laws in the state of NY regarding deposits on cars!! Information is power! Good luck...let us know what you find out. Start with your DMV website or give them a call.
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| Reply » Dealer Issue, Please Help |
Quote: | i was under the impression that the deposti is non-refundable. if it is then i would cancel my order right away | All deposits are refundable. You can back off of any deal untill the moment you drive the car of dealers lot.
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Dealer Issue, Please Help