BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > New and Preowned M3 Pricing, Ordering, Tracking / European Delivery / Dealer Reviews
 
ESS Tuning
Post Reply
 
Thread Tools Search this Thread
      07-01-2010, 04:00 PM   #1
Chest Rockwell
Private First Class
6
Rep
133
Posts

 
Drives: 2011 M3 Sedan
Join Date: Jun 2010
Location: Maryland

iTrader: (0)

Stealer wants $3800 more!!!!

So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest
Appreciate 0
      07-01-2010, 04:02 PM   #2
double_j
Private First Class
1
Rep
129
Posts

 
Drives: 2008 JB/B E90 M3
Join Date: Nov 2009
Location: Northeast USA

iTrader: (0)

If you feel like it's still a fair price with the extra $3,800 then go ahead and do it. At least they're being upfront and are not forcing anything - you still have the opportunity to walk away if you don't like the deal.

I would propose that they rewrite the lease to include the additional $3,800 into your monthly payments - isn't that what would have happened anyway? Just tell them you don't have the cash.
Appreciate 0
      07-01-2010, 04:11 PM   #3
brokenleg
New Member
0
Rep
9
Posts

 
Drives: m3
Join Date: May 2010
Location: Los Angeles

iTrader: (0)

You may want to check the laws in your state. Some states (California for example) have a no cooling off period clause which means the deal is the deal. I was stuck with a very bad lease once and this clause was used by the dealer to offer no assistance one day after the deal was made.
Appreciate 0
      07-01-2010, 04:15 PM   #4
Wah
Red Hot Riplet
Wah's Avatar
United_States
32
Rep
1,768
Posts

 
Drives: '15 F82 M4
Join Date: Jul 2009
Location: NJ

iTrader: (2)

Did you run the numbers to see if that was the mistake? If so, then I would just tell them to rewrite the lease contract.
Appreciate 0
      07-01-2010, 04:15 PM   #5
DoNDoN
Colonel
DoNDoN's Avatar
Thailand
28
Rep
2,038
Posts

 
Drives: 2008 E92 M3 AW
Join Date: Jun 2008
Location: NoVA

iTrader: (1)

Quote:
Originally Posted by Chest Rockwell View Post
So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest
Which dealer is this?
__________________
Appreciate 0
      07-01-2010, 04:16 PM   #6
paul.r
Enlisted Member
0
Rep
38
Posts

 
Drives: 2011 E90 M3 DCT
Join Date: Oct 2009
Location: Texas

iTrader: (0)

Do you think they'd be calling you to come in if the deal was $3800 in their favor? There's your answer.
Appreciate 0
      07-01-2010, 04:20 PM   #7
996TTE92M3
Enlisted Member
0
Rep
41
Posts

 
Drives: M3
Join Date: Dec 2009
Location: OC

iTrader: (0)

you should hold on to the papers you are holding tight... they are in contract just as much are you are at those numbers... what is the term, miles and residual according to your contract?
Appreciate 0
      07-01-2010, 04:21 PM   #8
Chest Rockwell
Private First Class
6
Rep
133
Posts

 
Drives: 2011 M3 Sedan
Join Date: Jun 2010
Location: Maryland

iTrader: (0)

Quote:
Originally Posted by DoNDoN View Post
Which dealer is this?
I don't want to drop names yet because they are still "seeing what they can do." But be sure that if things go south it will be made very public.

I am fairly sure that they would laugh all the way to the bank if they got an extra $3800 out of me. I told the wife I'm not giving the car back though, anyone know a good lawyer in MD?
Appreciate 0
      07-01-2010, 04:26 PM   #9
dennk2003
Registered
United_States
0
Rep
1
Posts

 
Drives: 2010 M3 Vert
Join Date: Jul 2010
Location: New Orleans

iTrader: (0)

New to the forum, but have recently leased a new M3 Vert, and the dealer also made a mistake, but fortunately for me, they ended up reducing the price of the M3 by about $4k, to keep the lease payment the same as originally quoted. To me, that was the right way to treat a customer.

Personally, I would return it rather than eat the $3800, but I guessing the dealer will find a way to make it work if they feel they are losing the sale.
Appreciate 0
      07-01-2010, 04:27 PM   #10
DoNDoN
Colonel
DoNDoN's Avatar
Thailand
28
Rep
2,038
Posts

 
Drives: 2008 E92 M3 AW
Join Date: Jun 2008
Location: NoVA

iTrader: (1)

Quote:
Originally Posted by Chest Rockwell View Post
I don't want to drop names yet because they are still "seeing what they can do." But be sure that if things go south it will be made very public.

I am fairly sure that they would laugh all the way to the bank if they got an extra $3800 out of me. I told the wife I'm not giving the car back though, anyone know a good lawyer in MD?
Good luck with it. Enjoy the car.
__________________
Appreciate 0
      07-01-2010, 04:29 PM   #11
mylydiamy
Lieutenant
14
Rep
515
Posts

 
Drives: 2008 335i e93 convertible
Join Date: Apr 2009
Location: New Jersey

iTrader: (1)

Send a message via Yahoo to mylydiamy
If you are not happy with forking $3800, go to another dealer. There are tons of BMW out there and dealers are dying to sell you one in this economy
Appreciate 0
      07-01-2010, 04:30 PM   #12
racedoc11
Major
racedoc11's Avatar
United_States
24
Rep
1,273
Posts

 
Drives: 2013 Audi RS5 & 08 M3 E93 SOLD
Join Date: Jan 2008
Location: USA

iTrader: (1)

Garage List
2013 Audi RS5  [5.00]
2008 E93 M3  [5.00]
Let me ask you this: if it is the other way around would they refund you the 3800??? I don't think so. Deal is a deal and trust me they don't do any paperwork unless they are sure. I think they are trying to pull this one on you.
If I was in your shoes and I have no problem paying the 3800 I would go to another dealer and let them know they lost the sale.
Quote:
Originally Posted by Chest Rockwell View Post
So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest
Appreciate 0
      07-01-2010, 04:33 PM   #13
outie
Lieutenant
5
Rep
519
Posts

 
Drives: 2011 M3 ZCP
Join Date: Feb 2009
Location: CA

iTrader: (0)

Can you show us the #s? It would be easy to tell whether they really used the coupe residual.
Appreciate 0
      07-01-2010, 04:40 PM   #14
Chest Rockwell
Private First Class
6
Rep
133
Posts

 
Drives: 2011 M3 Sedan
Join Date: Jun 2010
Location: Maryland

iTrader: (0)

Quote:
Originally Posted by 996TTE92M3 View Post
you should hold on to the papers you are holding tight... they are in contract just as much are you are at those numbers... what is the term, miles and residual according to your contract?
36 months, 12k a year and residual should be 59% (shouldn't it?) but they figured it at 63%, the difference would end up being 3k+

The reason I went here is because they were offering me a lot more for my trade, about 3K more oddly enough........
Appreciate 0
      07-01-2010, 04:40 PM   #15
richardbb85
Major
26
Rep
1,467
Posts

 
Drives: e92 m3
Join Date: Apr 2010
Location: annandale, va

iTrader: (0)

no way in hell you should pay the $3800, find a lawyer asap!!!!
__________________
2011 E92 Space Grey/black + Tech + Premi + Heated Seats
Appreciate 0
      07-01-2010, 04:43 PM   #16
Serious
1M advocate
Serious's Avatar
United_States
8
Rep
752
Posts

 
Drives: 2007 RS4. 2012 S1000RR
Join Date: Mar 2008
Location: Seattle

iTrader: (0)

Im sure they actually made a mistake on the deal... BMW dealerships (sales at least) typically aren't shady when it comes to numbers.

That said I would lawyer up and see if you are actually required to pay for their mistake.

No matter what you do I would get the GM of the dealership involved... explain the situation to him and see what he wants to do.
__________________
Appreciate 0
      07-01-2010, 04:48 PM   #17
Wah
Red Hot Riplet
Wah's Avatar
United_States
32
Rep
1,768
Posts

 
Drives: '15 F82 M4
Join Date: Jul 2009
Location: NJ

iTrader: (2)

Quote:
Originally Posted by Chest Rockwell View Post
36 months, 12k a year and residual should be 59% (shouldn't it?) but they figured it at 63%, the difference would end up being 3k+

The reason I went here is because they were offering me a lot more for my trade, about 3K more oddly enough........
For 36 mos, the sedan residual should have been 52% and the coupe 57%. What was the MSRP of your vehicle?
Appreciate 0
      07-01-2010, 04:53 PM   #18
Crazy Bimmer
The Jesal
Crazy Bimmer's Avatar
United_States
143
Rep
5,830
Posts

 
Drives: E90 M3
Join Date: Nov 2005
Location: Chicago IL

iTrader: (19)

Garage List
2009 BMW M3  [0.00]
Send a message via AIM to Crazy Bimmer
This was for the month of June

2011 BMW M3 Sedan
24 Month – Residual 59% of MSRP – .00200 Base Rate
36 Month – Residual 52% of MSRP – .00200 Base Rate
48 Month – Residual 42% of MSRP – .00230 Base Rate
60 Month – Residual 34% of MSRP – .00230 Base Rate

2011 BMW M3 Coupe
24 Month – Residual 63% of MSRP – .00200 Base Rate
36 Month – Residual 57% of MSRP – .00200 Base Rate
48 Month – Residual 43% of MSRP – .00230 Base Rate
60 Month – Residual 35% of MSRP – .00230 Base Rate
__________________
2009 E90 M3 - SOLD
Appreciate 0
      07-01-2010, 04:58 PM   #19
Chest Rockwell
Private First Class
6
Rep
133
Posts

 
Drives: 2011 M3 Sedan
Join Date: Jun 2010
Location: Maryland

iTrader: (0)

Quote:
Originally Posted by Wah View Post
For 36 mos, the sedan residual should have been 52% and the coupe 57%. What was the MSRP of your vehicle?
I payed around 68K, the listed residual is 43K onthe contract. No doubt now that it was just a simple mistake, but should I have to fork over the cash for their lack of attention to detail? AM I being a dick or should it really fall on me to pay it or give it back?
Appreciate 0
      07-01-2010, 05:06 PM   #20
Leonardo629
Major
United_States
13
Rep
1,206
Posts

 
Drives: 2013 M3 Coupe
Join Date: Sep 2006
Location: Walnut, CA

iTrader: (9)

If it was me..I'd go back..and fork out that money that isn't rightfully mine.....just me though.

Think about it..what if you need special favors in the future from the dealer..? You can always drive to another dealer I suppose....but you can strengthen the bond with your current dealer.
Appreciate 0
      07-01-2010, 05:08 PM   #21
frenchM3dreamer
Captain
7
Rep
786
Posts

 
Drives: 08 Mitsu Eclipse Spyder GTP
Join Date: Oct 2009
Location: Edmonton, AB

iTrader: (0)

how many people, including myself, have been screwed over and again by dealerships... this time YOU have them by the balls, have fun
i guess you dont really want to return the car, but just dont tell them that and use the position you're in to work out some kind of deal...
Appreciate 0
      07-01-2010, 05:15 PM   #22
Chest Rockwell
Private First Class
6
Rep
133
Posts

 
Drives: 2011 M3 Sedan
Join Date: Jun 2010
Location: Maryland

iTrader: (0)

Quote:
Originally Posted by Leonardo629 View Post
If it was me..I'd go back..and fork out that money that isn't rightfully mine.....just me though.

Think about it..what if you need special favors in the future from the dealer..? You can always drive to another dealer I suppose....but you can strengthen the bond with your current dealer.
That money IS rightfully mine, it's not like I ran in there with a contract I printed and made them sign it. They control everything, the damn contract is as long as I am tall. We had been working numbers for a week, and they were in a rush to get the sale done by the last day of the month, yesterday.

IF it were the fact my check bounced and they wanted me to come in with cash I would say you're right, but that is money that I never promised them that they are asking for after the fact to resolve their error. Not shady, just poor business practice. And I alredy went out of my way to deal with them because the other dealer I worked with sold me a car they couldn't even get because it was already sold. Is BMW just in the business of fu*king up deals?


Chest
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:00 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST