BMW E60 5-Series Forum | 5Post.com  
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read  

Go Back   BMW E60 5-Series Forum | 5Post.com > BIMMERPOST Universal Forums > General BMW News and Cars Discussion

Post Reply
 
Thread Tools Search this Thread
      01-03-2022, 12:49 PM   #1
kirr89
Private
18
Rep
71
Posts

Drives: 2019 BMW 330i
Join Date: Dec 2019
Location: Georgia

iTrader: (0)

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.
Appreciate 0
      01-03-2022, 01:05 PM   #2
Yessir
Lieutenant
356
Rep
463
Posts

Drives: car
Join Date: Jul 2014
Location: california

iTrader: (-1)

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.
Appreciate 1
      01-03-2022, 02:32 PM   #3
(K)
Lieutenant
(K)'s Avatar
785
Rep
542
Posts

Drives: '21 M2C 6MT
Join Date: Jan 2021
Location: Massachusetts, USA

iTrader: (4)

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.
Appreciate 1
      01-03-2022, 10:58 PM   #4
xlover
Colonel
No_Country
2028
Rep
2,335
Posts

Drives: 2021 M340 xdrive w/MPE
Join Date: Aug 2011
Location: Boston

iTrader: (0)

Garage List
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.
Appreciate 0
      01-04-2022, 01:38 AM   #5
Glen e
Retired from BMWNA
181
Rep
163
Posts

Drives: Ď21 X2 m35i
Join Date: Nov 2020
Location: Fort Lauderdale

iTrader: (0)

So you’re all upset with Bmwfs but you haven’t talked to them directly yet?
__________________
Glen
Ft Lauderdale
2021 X2 m35i
Appreciate 0
      01-04-2022, 08:18 AM   #6
nerdogray
Second Lieutenant
United_States
419
Rep
254
Posts

Drives: 2019 M5 Competition
Join Date: Jul 2018
Location: USA

iTrader: (0)

Creditors usually don't report for quite a while, and I doubt BMWFS would be any different. What's the whole story?
Appreciate 0
      01-04-2022, 09:01 AM   #7
Darth One
drunk poster
Darth One's Avatar
United_States
6256
Rep
3,569
Posts

Drives: M4 GTS | E46 M3
Join Date: Jul 2008
Location: FL

iTrader: (0)

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.
Appreciate 0
      01-04-2022, 09:38 AM   #8
Opie55
Lieutenant Colonel
600
Rep
1,797
Posts

Drives: '15 650i Convertible
Join Date: Apr 2018
Location: US

iTrader: (0)

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.
Appreciate 0
      01-05-2022, 10:30 AM   #9
BobBMWX3
Private First Class
95
Rep
188
Posts

Drives: X3 M40i 22
Join Date: Sep 2021
Location: VA

iTrader: (0)

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.
Appreciate 0
      01-05-2022, 10:49 AM   #10
Polot
Enlisted Member
36
Rep
49
Posts

Drives: BMW 230i, Volvo S60
Join Date: Nov 2021
Location: Atl

iTrader: (0)

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.
Appreciate 0
      01-05-2022, 12:17 PM   #11
LogicalApex
Colonel
United_States
1240
Rep
2,163
Posts

Drives: 2020 BMW 530xe
Join Date: Jul 2019
Location: Philadelphia, PA

iTrader: (0)

Garage List
2020 BMW 530xe  [0.00]
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.
Appreciate 0
      01-05-2022, 01:57 PM   #12
BzsBimmer
Major General
BzsBimmer's Avatar
United_States
2129
Rep
5,789
Posts

Drives: 2015 F80 M3 & 2019 X7
Join Date: Mar 2006
Location: Nor. Cal

iTrader: (27)

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.
Appreciate 0
      01-08-2022, 08:07 AM   #13
Westside Guy
Lieutenant Colonel
Westside Guy's Avatar
United_States
1179
Rep
1,521
Posts

Drives: 2022 Z4 M40i, 2021 228i GC
Join Date: Sep 2021
Location: Hallandale Beach, FL

iTrader: (0)

Garage List
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.
Appreciate 2
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



All times are GMT -5. The time now is 09:48 PM.




5post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2022, vBulletin Solutions Inc.
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