Business Profile

Auto Financing

BMW Financial Services NA, LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Auto Financing.

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

167 total complaints in the last 3 years.
39 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

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:09/09/2024
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 am writing to demand the immediate investigation and removal of a fraudulent account associated with my name under BMW Financial Services. As a victim of identity theft, I did not authorize the opening of the following account: Account Name: BMW Financial Services Account Number: ********** Opened Date: 11/26/2021 This account has been fraudulently placed under my name, causing significant damage to my financial standing. I have already filed an identity theft report with the Federal Trade Commission through IdentityTheft.gov. It is imperative that you take swift and decisive action to rectify this situation by removing this fraudulent account from all records associated with my identity.
Business Response
Date: 09/23/2024
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 18 occasions, and 60-89 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 dispute, we conducted a thorough investigation into your claim of identity theft. After reviewing internal documents, account records, and any available external information, we do not have reasonable cause to believe that your account was opened as a result of identity theft. We have responded to the consumer reporting agency with the results of our investigation. Based on the results of our investigation, you remain liable for the financing agreement for the above referenced account.

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:09/06/2024
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 bought my car out of my lease from BMW Financial Services in July of 2024. I was informed by *** that they would send me the title to my car promptly. I sent the company a check for $15 to expedite the sending of the title. I purchased the car through financing by ****. **** informed me that the title needed to be sent to them so I called *** to inform them of this (which had already been communicated to them during the buyout). It has now been over 60 days since the financial transaction and not only do I not have the title, but **** has not received it either. When I call *** I am told it is "in progress". I went to the *** today and there is nothing showing up in their system. I was told this means *** has not initiated the title transfer at all. This entire situation has consumed my time (I work for myself so this costs me money to deal with this), and I learned that I am at risk for being penalized by the CA DMV is this situation does not get resolved in a timely way. When I call *** the wait lines for customer service are so long that it's impossible to get through to a human being. I am not sure what is taking so long, but please, process the title transfer.
Customer Answer
Date: 09/19/2024
Please see attached memo from memo acknowledging that a series of clerical errors led to the title delay. This delay led the CA DMV to impose a penalty of $238.00 that *** should reimburse me for. See attached for that receipt.
Customer Answer
Date: 09/19/2024
Please see attached memo from memo acknowledging that a series of clerical errors led to the title delay. This delay led the CA DMV to impose a penalty of $238.00 that *** should reimburse me for. See attached for that receipt.
Business Response
Date: 09/23/2024
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.

Your correspondence states you have not received your title after the account was paid off on July 1, 2024. Our review of your account confirms there were several clerical errors that led to a delay in issuing the title. We sincerely apologize for any inconvenience and stress this caused you. We can confirm the title was sent using overnight shipping on September 16, 2024. ***** tracking ************ confirms the title was delivered to your address on September 17, 2024.

BMW Financial Services NA, LLC prides itself on offering premium customer service. In acknowledgment of our error, we are enclosing a *** tumbler. We hope you will enjoy this small token of our appreciation for your business.

We are committed to providing you with the highest level of service. If you have any questions, please contact us at **************, Monday through Thursday, from 9:00 a.m. to 9:00 ****** and 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
Customer Answer
Date: 09/23/2024
[If you do not say why you are rejecting the company's response, BBB must close your complaint.]

Complaint: 22252557

I am rejecting this response because: while I have now received the title, because it was so late, the CA DMV imposed penalties totaling $238.00. See attached receipt. I would like to be reimbursed for this amount.

Regards,

********* *******
Initial Complaint
Date:08/20/2024
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.
********** *** ********* ******** ** *** **** ******* ** ***** ***
Re: Notice of Dispute Pursuant to Section 6(a) of the Fair Credit Reporting Act Section 168 of FCRA law(s) info on report does NOT match my records. I demand this item to be DELETED from my credit report ASAP.
Account name: BMW FINANCIAL SERVICES Account Number: XXXXXX I was never 30 Days late in Jun 2022 update this account to paid as agreed, never late. Thanks

Dear Sir or Madam,

I have obtained a copy of my credit report, and it shows late payments on the above account. Specifically, it states that I was never 30 Days late in Jun 2022 update this account to paid as agreed, never late. This is very disturbing, and it is doing serious damage to my credit rating. As you know, you are required by law to make sure that my bills are accurate. You must send my correct address, change my address when I request it, promptly and accurately record any payments I make, and apply late fees and charges only when payments are, in fact, late. I hereby request that you take the following steps to remedy the situation:
•Send me a notarized statement attesting to your compliance with all provisions of the Fair Credit Billing Act with respect to my account.
- Provide documentary evidence of my indebtedness for all charges for which you claim I made late payment.

· Provide documentary evidence of timely billing and timely posting of all payments made on this account, whether or not you claim they were late, from the date the account was opened through the present.

If you cannot provide the statements and documentary evidence required, then I insist that you delete all negative references from your reports to Experian, Equifax and Transunion. If I do not receive all three items itemized above within the period prescribed by law, I will expect to receive written notification that you have, in fact, made the required deletions from your reports and that you have removed from my file any reference to the disputed late payments. Please attend to my requests promptly.

Time is of the essence. To verify my ID and my address, I am enclosing copies of utility bill and driver's license
Sincerely yours,
******** ******** ***** ****** ** ****** ****** ** ********** **** *********** **** **********

Business Response
Date: 09/04/2024
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 one occasion. The payment due on May 31, 2024 was satisfied on July 7, 2024 which was 37 days after the payment due date and resulted in a 30-59 day delinquency reporting for June 2024.

The dispute you submitted to us does not contain specific details or documentation demonstrating an error with the information we furnished to the consumer reporting agencies regarding your account. Therefore, we conducted a thorough investigation of your dispute based upon our account records. Our investigation confirmed the information we furnished to the consumer reporting agencies in association with your account is accurate. As a result of your dispute, we will provide an update to the consumer reporting agencies indicating the receipt of your dispute and 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:08/11/2024
Type:Billing 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.
BMW Financial has falsely reported that we missed two payments, which has severely impacted our credit score through no fault of our own. We've been dealing with a lemon law case with them since November 2023 and finally returned the car on July 31st. Throughout this period, we made all required payments on time up until the end of June. The only payment we did not make was the one due on July 28th, as we were turning the car in just three days later. Despite this, they have inaccurately reported to the credit bureaus that we were 30 days late for two payments (July and August), which is completely untrue. This situation is unacceptable, and our credit scores have dropped over 100 points as a result. This issue needs to be rectified immediately! On top of all this, they are even issuing one month’s payment back to us, because it was determined their was an overpayment after they paid off the account!!
Business Response
Date: 08/26/2024
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.

Pursuant to your request, we have investigated your account and the events leading to its closure. As a result of our investigation, we will provide an electronic update to Experian, Equifax, Innovis, and TransUnion regarding your account history. We will report your account with a payment rating of "Current" in the months of July and August 2024. It may take approximately 10 business days for all of the consumer reporting agencies to change the information in their systems.

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
Customer Answer
Date: 08/27/2024
I accept the business's response to resolve this complaint.

Regards,

******* ******
Initial Complaint
Date:07/31/2024
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.
Customer Account Number: **********. A simultaneous complaint has been filed with the CFPB. Customer has cancelled an optional tire and wheel coverage with BMW dealership **** ****** *** *********** **. Attached is significant proof that the lienholder BMW Financial Services has received refund check number ******, in the amount of $2179.59 cashed on 7/23/24. However; the business BMW Financial Services was negligent in not applying the payment to my account. Now, 8 days later, the business has cashed the check, which as stated was never applied to my account. Why? Provide an explanation as to why you have had a cashed check for 8 days that was not applied to my account.
Business Response
Date: 08/15/2024
Dear ***** * *****,

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

Upon notification of your missing payment, we researched our records and found no payment of $2,179.59 had been received. Through further investigation we discovered the payment was mailed to *** ** ***** ******** *** rather than BMW Financial Services. We worked with *** ** ***** ******* and the payment has been credited to your account effective July 23, 2024.

You may remit payment using one of the following methods:
Online: Access your BMW Financial Services NA, LLC account at ******************** and click on the “End of Term charges” link to pay via Visa/MasterCard/Discover/American Express or UltimatePay (automatic debit from your checking or savings account). No service fees.
Automated Phone System: Payments can be made 24 hours a day, 7 days a week from the automated phone system at ###-###-####. Payments can be made via Visa/MasterCard/Discover/American Express or UltimatePay (automatic debit from your checking or savings account). No service fees.
Check by Mail: Checks should be made payable to BMW Financial Services NA, LLC and sent to ** *** ****** ******** ** *********** Please be sure to note your full account number on payments made via check or money order.

We are committed to providing you with the highest level of service. If you have any questions, please contact us at ###-###-####, Monday through Thursday, from 9:00 a.m. to 9:00 p.m. ET and 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:07/31/2024
Type:Customer Service 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 paid off my BMW vehicle VIN# ***************** and paid for overnight service. I won't mention that it took a lot longer. But, real problem that I have NEVER RECEIVED TITLE in my name! I received package with standard letter stating lien satisfied and it says: Enclosed is motor vehicle Title and Lien release. I received only LIEN release. No TITLE. We called BMW customer service, were transferred few times then we got spoke to very rude person and we got no information where is my TITLE?
Business Response
Date: 08/08/2024
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.

First and foremost, we regret to learn your experience and interactions with BMW Financial Services did not meet your expectations. We value customer feedback as it can help improve our processes, ultimately improving our customers’ experiences.

Upon receipt of your complaint, we reviewed your account and confirm it was paid in full and closed on July 24, 2024. As advised by our representative during a call with you July 31, 2024, because you are in a title holding state, BMW Financial Services NA, LLC sent you a lien release to the above address on July 29, 2024, instructing you to take the lien release to the New York Department of Motor Vehicles (NYDMV) who will assist you in removing our lien from the certificate of title.
Please note, if you have misplaced your vehicle title, you will need to contact the NYDMV for further assistance. You may reach their Title Service Bureau at ###-###-####.

We are committed to providing you with the highest level of service. If you have any questions, please contact us at ###-###-####, Monday through Thursday, from 9:00 a.m. to 9:00 p.m. ET and 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:07/28/2024
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.
In January 2024 I visited the BMW dealership in ******* ** to buy a used BMW X1. The dealership was running very late and I wound up agreeing to a handshake deal. I signed some papers w/r because I didn't have time to read them, after confirming that was okay with the dealer. I drove the X1 off the lot--and then BMW never invoiced me or told me how to pay. I tried calling the dealership several times; they said someone would get in touch with me, but no one ever did. I eventually googled BMW Financial Services, called, and found that BMW had the wrong contact information for me--and that my account had been marked late. I settled the balances immediately. I then asked BMW to correct the record so that it did not show a delinquency on my credit report. BMW refused. BMW refuses to speak by phone with any customer about credit reporting. So, I have since sent eight letters to the credit reporting department. In these letters I have pointed out that: (a) I could not possibly have paid without an address to send payment; (b) The BMW Dealership in ****** confirms that they recorded the wrong address; (c) I have made every payment on time since my contact information was corrected; (d) The negative credit report has deeply harmed my credit; (e) BMW Financial Services knows that my payments were late because of their own billing error; (f) BMW's actions violate 15 U.S.C. § 1681s-2(a)(1)(A) and § 1681s-2(a)(1)(B)(i); Despite this, BMW Financial Services continues to refuse to correct the erroneous report. BMW has responded to my letters; but their responses regularly ignore the materials I provide, misstate the record or, worse, misstate the law and the company's obligations under the Fair Credit Reporting Act. I've never seen a company refuse to correct what even their own dealership agrees is a company error--and I can't imagine I'm the only person that has been harmed in this way. At this point, I am still just looking to have my credit report corrected.
Business Response
Date: 08/08/2024
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. The payment due on March 1, 2024 was satisfied on April 23, 2024 which was 53 days after the payment due date and resulted in a 30-59 day delinquency reporting for March 2024. The payment due on April 1, 2024 was satisfied on May 6, 2024 which was 35 days after the payment due date and resulted in a 30-59 day delinquency reporting for May 2024.

Your present dispute constitutes your eighth dispute regarding the above-referenced delinquencies, including two indirect disputes through Equifax and TransUnion. Each of your disputes included the same essential details as your present one, and in each of our responses, we have advised you the same information:

Although we regret to learn the mailing address we had was incorrect, it was the only one you had provided us. You are responsible for providing us the best contact information for you.

Your payment amount and due date were provided on the front page of your Motor Vehicle Retail Installment Contract (Contract). Your signature on that Contract affirms you had been presented with the Contract prior to signing and that you had read, understood, and agreed to the terms.

You are expected to be mindful of your due date even if you do not receive a Statement in a given month. Your contractual obligations are not contingent upon your receipt of your Statement.

As your present dispute makes no additional claims and provides no evidence of an error in our reporting, we must again refer you to our prior responses. A copy of our responses from your first and second direct disputes have been enclosed.

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. 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
Customer Answer
Date: 08/14/2024
Complaint: ********

I am rejecting this response because it ignores critical information BMW has already received and relies on documents BMW knows to be invalid.
To review, this issue began when BMW Financial Services reported to the major credit bureaus that I was delinquent in paying an account.
I had not paid BMW Financial Services because I didn't know the account existed (or how to pay). I didn't know this because of an error by the dealership, which incorrectly wrote down my address and contact information. There is no dispute that this was the reason: (i) the dealership admits the error and has told me that they expressly asked the Credit Disputes Department to reverse the negative reporting; (ii) the initial correspondence has since been recovered with the wrong address; (iii) a third party has signed a statement indicating that she witnessed the error.
Once I became aware of the account, I paid it. At that point, after verifying that the lack of payment was not my fault, BMW Financial Services was obligated to reverse the reporting. As BMW Financial Services knows, nothing prevents a Data Furnisher from reversing a past negative credit report if it discovers the consumer was not at fault; there is certainly no penalty to the company (indeed a Data Furnisher can reverse a past negative report for no reason at all with no penalty).
But BMW Financial Services refuses to do this simple thing. In correspondence, the company no longer even denies that it made an error and there was nothing I could do--nor that I was expressly told by the company not to do anything by the dealership. Instead, the company asserts that, pursuant to the terms of a contract the company asserts was in force, I was obligated to independently discover the account and pay the balance I didn't know existed.
But there's an obvious problem with this reasoning: there is no written contract between BMW and me. The document BMW is calling a contract was not signed by me; it was marked with a very clear "w/r" to indicate "without recourse." You can just look at the document, the "w/r" is right there in the signature line. This mark is there because the dealership did not have the contract papers ready when I went to buy the car. Because I had to leave to pick up my children, the dealership asked me to mark the contract papers for administrative reasons so I could leave with the car. Although the dealership said they would then reach out to confirm, they did not do so--and I never even saw the document on which BMW now relies. There is no need to take my word for any of this; you can read the enclosed witness statement and verify it for yourself.
So, to review the facts:
(1) I went to BMW to try to buy a car.
(2) The dealership wrote down my contact information wrong.
(3) The dealership also didn't have the papers ready, so they asked me to mark them, promised me I wasn't signing anything binding, and promised to reach out to confirm everything.
(4) The dealership failed to reach out or to provide me with any documents at all.
(5) I reached out several times to figure out what was going on.
(6) The dealership expressly told me not to do anything or contact anyone.
(7) BMW (apparently) then began invoicing me, sending those invoices to an address the company had already been expressly told was wrong.
(8) I (obviously) didn't get the invoices, because they were sent to the wrong address.
(9) Despite the fact that I hadn't agreed to the terms, and didn't know the account existed, BMW then reported the lack of payment as "delinquent" without ever bothering to try to verify my address.
(10) As soon as I discovered the account existed, I immediately settled the balance.
(11) BMW knows all this and knows that it has been verified by their own records and by an independent witnesses.
(12) BMW knows it is required by the FCRA and other laws to correct the past reporting, now that it knows it was not caused by the consumer.
(13) BMW still refuses to correct the past reporting.
Under these circumstances, pointing to terms I did not agree to, in a document I did not sign and had not read, is not an acceptable reply.
Regards,

********* *****
Initial Complaint
Date:07/22/2024
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 had my BMW financial services account set up for automatic withdrawals. I called in to change the banking information 2 months ago with BMW financial services. BMW financial services failed to properly continue to withdraw money from the new bank account and as a result they marked my account as delinquent and reported my account as delinquent to all of the credit reporting agencies. I want them to remove the negative credit reporting, and ensure that all of my accounts are showing good standing.
Business Response
Date: 07/30/2024
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 an effort to resolve your request, we researched your account and verified your account was reported as 30-59 days past due on one occasion. The payment due on June 15, 2024 was satisfied on July 22, 2024 which was 37 days after the payment due date and resulted in a 30-59 day delinquency reporting for July 2024.

In your letter, you claim you called and asked one of our Representatives to update the banking information used for your account’s automated recurring payments (EasyPay). However, our records do not support this claim. We do not have record of any calls received from you during the year 2024 prior to the date of delinquency. In your previous conversations with us, you instead told us you had updated your EasyPay preferences online. However, this claim is also not supported by our records. Our records indicate you logged in to your MyBMW online account and added a new payment source on May 31, 2024. However, you did not change the terms of your EasyPay enrollment to use this new payment source. Lacking this authorization, EasyPay continued to attempt withdrawals from the original bank account, leading to a returned payment on June 20, 2024.

We sent notice of this returned payment to you on June 20, 2024. We also sent notice of the past due status of your account with your Account Statement on June 28, 2024. Although we regret to learn of any confusion you may have experienced in using the MyBMW online tools, you are expected to monitor and manage your account on a regular basis to avoid errors. It is solely your responsibility to remit payment in a timely manner, using valid funds from valid sources.

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. 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
Customer Answer
Date: 07/31/2024
I incorrectly stated in my original complaint that I had called in to update my bank account information . After further reviewing my records, I realized I had updated my bank account information online. I spoke to a supervisor at BMW Financial and they stated that after I updated my bank account information, their automated system continued to try and pull funds from an old, deactivated bank account (weeks after I had updated the online system to the new, correct banking information). They said that the error was caused by an internal IT related malfunction, and have reached out to the IT department to investigate. As the system was attempting to pull funds from a deactivated bank account, it automatically suspended my autopay feature. As it has been found the errors are a result of an internal BMW Financial system, and I was never notified that there were any payment processing issues, I would appreciate it if the negative reporting would be removed from the credit bureaus. As soon as the error was uncovered (I was notified by the credit bureaus, not by BMW) I called in to correct the issues and bring the accounts into good standing. Had BMW notified me there were any issues with my account, we likely could have resolved these payment issues immediately. Thank you for your consideration, and please, next time, contact your customers when there is an issue vs resorting to harm their credit profiles.

Regards,

******* ******
Business Response
Date: 08/08/2024
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 an effort to resolve your request, we researched your account and verified your account was reported as 30-59 days past due on one occasion. The payment due on June 15, 2024 was satisfied on July 22, 2024 which was 37 days after the payment due date and resulted in a 30-59 day delinquency reporting for July 2024.

As we summarized in our prior letter, our records show you logged in to your MyBMW online account and added a new payment source on May 31, 2024. However, you did not change the terms of your automated recurring payment (EasyPay) enrollment to use this new payment source. Lacking this authorization, EasyPay continued to attempt withdrawals from the original bank account, leading to a returned payment on June 20, 2024.

In your current dispute, you claim you called and spoke to a supervisor who told you an IT related malfunction was responsible for the failure of the above-referenced payment. However, our records do not support this claim. Our records show you spoke with two Escalation Supervisors on July 22, 2024. During these conversations, you were told that we would investigate your claims, but we did not suggest any specific causal factor at that time. The investigation you were promised was performed and the conclusion we reached is consistent with the information summarized above: you added a new payment source to your profile but did not update EasyPay to use this new banking information. We had already received your prior BBB complaint by this time, and so included the findings of this investigation in our July 29, 2024 response.

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. 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:07/20/2024
Type:Order 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.
BMWFS received my lease buyout payment in full on April 18, 2024. My bill of sale and release information wasn't mailed to me until June 7, 2024 and as such, wasn't received by me until after this date. Due to the late mailing of this documentation, CA DMV assessed penalties of $507. Per BMW"s own documentation, I should receive this information within 15 business days depending on state law. I am sure BMW does countless transactions in California and is familiar with the required turnaround time and the filing requirement to avoid penalties (30 days from the sale date). I did everything I was supposed to do. I am requesting that BMW reimburse me the $507 of penalties that were incurred.
Business Response
Date: 07/30/2024
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.

BMW Financial Services strives to offer all our customers with a premium level of customer service, and we regret to hear you feel we failed to provide you with that level of service. We apologize your title was not received within the timeframe you expected.

Upon receipt of your letter, we reviewed your account and confirm your vehicle payoff was received on April 16, 2024 and posted to your account on April 18, 2024. As the payoff was non-certified, your title was scheduled for release 15 business days after receipt on May 6, 2024. In California vehicle titles are issued electronically therefore, in hopes of expediting your title delivery, the paper title was ordered from the California Department of Motor Vehicles (CA DMV) on April 18, 2024. The paper title was received from the CA DMV on June 7, 2024 and sent to you via USPS to the address above. Although we empathize with your situation, because we find no fault on our part, we are unable to afford you a refund. A copy of the Customer Payoff Information letter sent to you on April 12, 2024 has been enclosed. Please review the highlighted “How and when will the title be received?” portion for details on title receipt expectations.

If you have any questions, please contact us at ###-###-####, Monday through Thursday, from 9:00 a.m. to 9:00 p.m. ET and 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

enclosures: Customer Payoff Information
Customer Answer
Date: 07/31/2024
The response only explains why they unable to deliver the title in a timely manner however their problem should not cost me $500. Happy to see you in small claims BMW.

Regards,

**** ******
Initial Complaint
Date:07/08/2024
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.
June 26, 2024 letter sent: To Whom This May Concern, Please be advised that I am enclosing the verification from *** **** Certified Checks that were mailed and processed to BMW Financial Services (*******). The payments of $2,666.30 and $9,778.41 were received / will be received by your company. The $9,778.41 will arrive on 6/27/2024 by 10:30AM via *****. Due to the overnight process to obtain the title next day, I have incurred Fedex fees of $61.85 and a fee of $30 dollars for ****. Due to not receiving the title the next day, I have been hindered from selling and purchasing a new vehicle. As a proud customer of BMW, I would hope that you can return my overpayment of $2,666.30 and the additional fee from Fedex of $61.85. All proper documents will be attached to this email. If you need any further information do not hesitate to contact me or my mother ***** ****. Also our bank manager information will be shared. ***** *** *** ****: ###-###-####
Business Response
Date: 07/26/2024
Dear *********************,

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

BMW Financial Services NA LLC (BMW Financial Services) strives to provide all customers with a premium level of customer service, and we regret to hear you feel we failed to provide you with that level of service. We sincerely apologize your title was not sent via ***** overnight as requested. Please know, your feedback has been forwarded to the appropriate levels of management within the titles department. A token of our appreciation has been enclosed.

Your complaint states your payoff and title were delayed leading to a missed opportunity to sell your vehicle. A review of the account confirms your original payoff in the amount of $7,100.00 received on June 25, 2024 was returned by your bank on June 26, 2024 as an invalid bank account number was provided. On June 28, 2024 a second payoff check in the amount of $9,778.41 was received and credited to your account on July 3, 2024. As the check was certified, your title was then scheduled to be released three business days from the date of credit. Because July 4, 2024 and July 5, 2024 were observed Holidays for BMW Financial Services, your title was released on July 8, 2024. We regret to discover the final payoff was not credited to your account within 24 business hours and the title was not sent via ***** overnight. However, please note, the credit date did not further delay the release date to the Holiday.

In an effort to resolve your fee concerns, two $30.00 late charges were waived from your account on June 28, 2024 and the $15.00 ***** overnight charge was reimbursed to you. Our records indicate refund check number ********* for the $15.00 overnight charge and $2,737.58 account overpayment was cashed by you on July 17, 2024. Further, although we empathize with your situation, we are not able to compensate you for the alleged loss of profit from a private vehicle sale believed to be due to the title receipt delay.

Please understand, BMW Financial Services is a separate financing entity from the independently owned and operated *** Centers.As such we are only able to address issues dealing with your Motor Vehicle Retail Installment Contract (Contract), or your account with us. Any branded item offers made by *** of Greenwich at the time of purchase exist between you and *** of Greenwich only; we cannot enforce any agreements made outside the parameters of your existing Contract. We encourage you to contact them directly at ************** for further assistance.

We are committed to providing you with the highest level of service. If you have any questions, please contact us at **************, Monday through Thursday, from 9:00 a.m. to 9:00 p.m.ET and 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

BBB Business Profiles may not be reproduced for sales or promotional purposes.

BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.

As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.

Cookies on BBB.org

Complaints

Customer Complaints Summary

If you've experienced an issue

Filter and sort by

Sort by

Complaint status

Complaint type

Complaint statuses

Business Response

Complaint statuses

Customer Answer

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Customer Answer

Complaint statuses

Business Response

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