[SixDegrees]

When I bought my car, and financed it through BMW Finance, there was a dealer mistake on the docs (they put 330D instead of 320d).

BMW Finance saw this and requested fresh, correct docs, which were duly completed and faxed off. This resulted in a 'bonus' for me as the GFV on the 320d was less that previously worked out for the 330d which meant the dealer had to 1/2 my APR to retain the monthly payments and term.

Anyway, to everyones assumption that 'orginal' set of docs were history and an agreement was set-up based on the revised docs / figures. All been in place since October.

Today I received a letter (same as before) thanking me for taking out BMW Finanace. Everything looks the same except the GFV which is the amount that was calculated for the 330d. Looks to me like someone in BMW Finance didn't destroy the docs, has found them lying about and willy-nilly processed them through the system.

So, I now have 2 finance agreements on my car, 2 sets of payments and different payment dates. To say I'm a bit annoyed is an understatement.

For one, its not legally possible to have 2 finance agreements against the same car, so how did their system let them register a completely different agreement using the same reg no.!!! Plus, why weren't the docs destroyed, who's doing the QA in there.



ps - I used to work for BMW in the 90s so have a some idead of the process and regulations!

[mikem]

Don`t let it get to you. It`s obviously a mistake and a phoncall should sort it, explain how upset you are and see what they offer to console you.

[SixDegrees]

Originally Posted by mikem

Don`t let it get to you. It`s obviously a mistake and a phoncall should sort it, explain how upset you are and see what they offer to console you.

Call BMW dealer and BMW finance today, admission all round that its a mistake but both parties at a loss as to how BMW Finance have managed to finance the same car twice.... there's mean to be safe guards against that sort of thing!

Still neither of them we're able to sort the issue there and trhen, apparentlt its needs to be investigated. can't see why, they know its a mistake and that the reg is for a 320d and not a 330d, so why it can't just be cancelled and resolve (financially) between BMW finance and the dealer I don't know.

The funny thing is when I went to buy the car, Arnold Clark had financed my Golf by mistake (wrong reg) and it turned up on HPI, plus talking about it with my neighbour and they got a letter from a Repo lawyer last week giving them 7 days to fully pay for their car of they'd come and take it away.... they bought it cash 3 years ago!

Seems to be the season for financial f*** ups!

[Speedtrap]

In all seriousness, you can take BMW to the cleaners for fraud if this happens to you - especially if they do not destroy the old documents. You need to pressure BMW or tell them you will set your solicitor to them for fraud and negligence....if its gets that serious.

[SixDegrees]

Originally Posted by Speedtrap

In all seriousness, you can take BMW to the cleaners for fraud if this happens to you - especially if they do not destroy the old documents. You need to pressure BMW or tell them you will set your solicitor to them for fraud and negligence....if its gets that serious.

Don't want the stress of that right now and I think they've realised the fooked up big time. Even the business manager at BMW dealer can understand how they did that... he checked on his system and saw the 2 active agreements (which actually meant 2 payments to BMW dealer - damn sure they kept quite until someone else pointed it out, more interest in the bank for them).

Anyway, I expect it to be resolved asap, but if there is any negative impact on me, ie credit rating, or double payments taken from my bank I'll be seeking proper advice!

[Carrera RSR]

I guess this finance will be regulated under the Financial Services Authority. They would be your next port of call if BMW can't resolve the problem promptly or to your satisfaction. Credit rating is only affected if BMW choose to report on negative actions. So unlikely here. If they do you can ask for it to be retracted. Any additional payments and costs incurred should be borne by BMW Financial Services.

[SixDegrees]

Originally Posted by carrerarsr

I guess this finance will be regulated under the Financial Services Authority. They would be your next port of call if BMW can't resolve the problem promptly or to your satisfaction. Credit rating is only affected if BMW choose to report on negative actions. So unlikely here. If they do you can ask for it to be retracted. Any additional payments and costs incurred should be borne by BMW Financial Services.

I know the credit rating system quite well, but seeing as BMW managed to get this far into this mess trusting them not to f*** further is quite hard right now, I have no confidence!

They made the DD into a SO so no payments will be taken but the system will automatically regsiter a default +1 if I don't pay on time so hopefully they'll resolve it before the end of the month, and that no one looks at the payment failure and fires it over to Experian / Equifax before realising the issue lies with BMW finance and not me.

[Carrera RSR]

Pay for the 320d. Don't pay the 330d as it doesn't exist

[SixDegrees]

Originally Posted by carrerarsr

Pay for the 320d. Don't pay the 330d as it doesn't exist

I've already started paying for the 320d, its been on the go since Oct!