Quote:
Originally Posted by BMWCCA1
I'm still not sure why everyone thinks the dealership is making out on these transactions. In our case, we had no option to buy the car from the client's estate beyond paying the same amount they would have to. Even on a repossession BMW has to sell the car at auction to determine fair value and then deduct that from what the owner owed. BMW was making that offer to the estates in our cases, that they'd appraise the car and then auction it. I'm confident even the Chevy dealer doesn't control who can take advantage of the death clause. How do you think they profit if the deceased's family doesn't read the contract? The car belongs to GM, not the dealership.
In no case does the dealership profit from such transactions. And, yes, I personally checked the BMW contracts for the daughter of my last deceased customer as I sent a copy to their attorney. There was no death clause. If you total the leased car, the included GAP coverage pays off the lease. If you die, your estate remains responsible for the unpaid balance. The dealership has nothing to do with the transaction.
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Offer to buy it back at a fair trade in price and flip it on the spot, then have them pay the difference which I am 99% sure it would be a lot less than what was left on the lease. Since the estate took legal assumption of the leased vehicle at the time of passing, they can also sell it to you, so no legal issue there.
So in essence, a dealership is fully responsible for initiating all of the lease paperwork and making sure everything is penciled out, all the F&I bs addons are milked and pressured onto the customer as much as possible, and collect on all that profit, but as soon as something tragic happens to your client "its not our problem". Yup, sounds like a typical dealership.
Nothing personal against you BMWCCA1, just upset at all the BS dealerships try to pull which is tolerated by the law.