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      01-03-2022, 12:49 PM   #1

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BMW Financial 30 day late dispute

Not sure where to post this.

I was doing manual payments on my account. Then when I had a lte payment because I wasnít receiving notifications, I turned on notifications and autopay. So the next month just to be safe, I did a manual payment ahead of the due date just to be safe. Then a few days later, I was charged again. So in one month I had two months worth of lease payments deducted from my account. Thatís when I removed autopay. The problem occurred when I removed it and had a 30 day late payment. I only removed it because their system charged me double in a month. Iím reading everywhere that BMW financial wonít even respond to you. It dropped me about 100 points.

Is there anything I can do? My disputes through Experian were rejected. Iím literally considering dropping BMW and going to Mercedesí because of this. I have 2.5 years of perfect payment history and a single error. If they canít do anything about that then they donít deserve my money.
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      01-03-2022, 01:05 PM   #2

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So you took off autopay because you decided to pay manually and then got upset because you were billed two payments in one month (one payment from yourself and one autopay) then you forgot to make the payment the following month and now you are upset with BMW financial? Sorry man, sounds like a late payment. You should have just eaten the double payment month and let autopay do it's thing. Its not like they just took your money, it would have been applied to the payment history for your lease.
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      01-03-2022, 02:32 PM   #3
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From your post it doesn't look like you've reached to them directly yet. It's likely they'll forgive it if you have the history you mentioned.
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      01-03-2022, 10:58 PM   #4

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Did they really report one late payment immediately? That's an unusual practice, even before Covid there were some grade periods built in to let customers fix an accidental oversight, most companies have increased flexibility as of late.

I think more details are needed to understand the situation.
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      01-04-2022, 01:38 AM   #5
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So you’re all upset with Bmwfs but you haven’t talked to them directly yet?
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      01-04-2022, 08:18 AM   #6
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Creditors usually don't report for quite a while, and I doubt BMWFS would be any different. What's the whole story?
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      01-04-2022, 09:01 AM   #7
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I mean, if you were late, you were late. You won't win any disputes. Please don't take this as me being judgy - I've been in the same situation - just trying to get to the heart of the matter.

Asking BMWFS to 'forgive' their reporting of your late status is purely asking for their goodwill - if you think they no longer deserve your business if they refuse, of course that's entirely your call.
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      01-04-2022, 09:38 AM   #8
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This story sounds like it's 100% your fault. But why would you not try to contact BMW Financial rather than reading online and concluding that they won't talk to you? At least your car will be paid off a month early.
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      01-05-2022, 10:30 AM   #9
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I do agree with the posts above. Contact BMWFS and give them a chance to correct your problem. If your payment history has been good, I am sure they will correct the issue.

Also, I dont know if I would switch brands just because of the finances. I would switch lenders if I was not happy there, but not go to a different brand vehicle.
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      01-05-2022, 10:49 AM   #10
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Are you sure you never missed a previous payment?

As others said lenders donít usually report late payments immediately. But if you missed a previous payment then your manual payment would have been applied to your balance owed, and then the autopay payment applied to the current month making you whole again.
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      01-05-2022, 12:17 PM   #11

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Your story is a bit hard to follow in its flow. Sounds like you went from manual payments with a missed payment to auto pay and a manual payment then back to manual payments. If I followed the progression correctly it sounds like you may have missed something along the way.

I have never dealt with BMWFS, but some companies only initiate Auto Pay on your next bill cycle so it won't kick in mid-cycle and will require you to make a manual payment. But depending on when you noticed it and when you enabled it and did your manual payment you could have been 1 payment outside of where you needed to be.

Either way, you can call BMWFS and see what goodwill you can get from them. I found it odd you mentioned they wouldn't respond in your post. I assume if you call they answer the phone??

That being said, if you can prove that they reported a 1 day late payment the credit bureaus that is a valid dispute that should be wiped out. They have to report 30 day+ late payments... Though as I said earlier, based on your progression it sounds like you were 30 days late...

You'll need to keep a close eye on payments going forward as not seeing that money fly out during your bank account review in 30 days of when it would normally be due should make you sort it out ahead of time.

But I'm not trying to pile on. I hope you get it sorted out.
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      01-05-2022, 01:57 PM   #12
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Others have pretty much summed up my general thoughts
- why didnít you contact BMWFS directly especially before making that second payment
- you could have just asked for a credit for overpayment
- why didnít you look at the BMWFS portal through the bmw app or online, it tells you when payments are due and you also get an email when payments are being taken out

If you call BMWFS directly and speak to the rep, 9/10 times they can remove late payments and fees especially if itís a first time offense.
Hopefully no details are being omitted but also hope you get it sorted out.
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      01-08-2022, 08:07 AM   #13
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To say, "Iím reading everywhere that BMW financial wonít even respond to you." and also state, "My disputes through Experian were rejected" makes absolutely no sense as you should be dealing directly with the lender and not Experian.

I called BMWFS several times when I first purchased my car as there was an issue with the correct bank name appearing when I entered my checking account routing information. Someone always answered the phone within minutes and I found them to be very professional and helpful.
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