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Old 04-27-2006, 06:45 PM   #1
FashionChef
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Question Special Rate & Residual Program - expire on April 30th??

Alright, just got a call from Town and Country BMW today. The sales person told me about the "Special Rate & Residual Program" that will be expired on April 30th, 2006 (This Sunday). This program, as he explained, is when I do not pay tomorrow, the residual value of my E90 will go down on the LEASE as the rates are changing as of April 1st. Basically, to gaurantee I will still be paying the same monthly (instead of a higher amount after the rates and residual change when I pay and drive away later) So, he suggested that we meet tomorrow early morning. And I bring along 4 things: 1) a VOID Cheque 2) the Due On Delivery Bank Draft 3) My Personal License Plate and 4) My Insurance Information. I told him that this is a very UNUSUAL situation. It is usually the PAY and DRIVE AWAY. But in my case, I will be be able to take the E90 for within two weeks. This sales person also told me that the E90 is on the train now and he will rush it for me.

Just want to know if anyone is in the same boat as me? Because this is highly unusual. Any suggestions and comments?
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Old 04-27-2006, 09:14 PM   #2
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I know that when I ordered my car in June/July, I was under a policy where if the rates went up or down between then and when the car was finally delivered, I was able to have the best rate out of either June/July or Oct when the car was delivered. However, I did not have to provide any of that stuff before the car was delivered.

Hope you get this sorted out soon and your car finally comes man!!
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Old 04-27-2006, 10:28 PM   #3
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I had this happen many years ago with a mustang I ordered. By the time I got it, 14 weeks, the interest rate had gone up almost 2 points. Think late 80's. Anyway, I tried to lock in at a lower rate, like with your mortgage, but they couldn't do anything without the VIN. I ended up keeping it at the dealer an extra couple of weeks until a new program came out with better rates. It does sound awfully like someone is trying to meet a month end quota. See what they will throw in for your troubles. Like a car to use for the two weeks you don't have yours.
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Old 04-27-2006, 11:35 PM   #4
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This is very UNACCEPTABLE!

The Month End Quota sounds right to me too. But this sales rep does tell me to trust him this and that. I was appointed to the Sales Manager in the first place from a close friend working at BMW Headquarters. And since I could not contact him now, I have no idea what is sales rep is planning or anything he said is BS. I know this is highly unfair to me, as the rate and residual value of the car is WRITTEN on the "Offer To Lease" Yellow contract. And I've made my deposit. If the rate and residual value is subject to change, WHY do they need me to sign the contact "Offer To Lease" when something THIS IMPORTANT will be change later in such BS manner? ... I am not happy about this at all. And worse, don't know what to do. But comes to worse, I do not think I will go and pay BMW tomorrow and will wait until my E90 arrives. PAY and DRIVE AWAY. I now believe that Town and Country BMW "might" made some mistakes in ordering my E90 - e.g. instead of Terra (that I want), the E90 comes with Beige. If I do pay the money upfront, I have to take whatever mistakes they made WITH the car. Which is MY LOST totally. Therefore, I have made the decision of NOT going to pay BMW tomorrow, and will write a letter of complaint to Canada BMW Headoffice to reflect this situation.
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Old 04-27-2006, 11:43 PM   #5
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They tried to do this once to my dad....he said hes walking out and go **** yourselves. They said we have a signed contract, he told them to take him to court....called him back and gave him the original rate
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Old 05-02-2006, 11:48 PM   #6
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Quote:
Originally Posted by BMWF1
They tried to do this once to my dad....he said hes walking out and go **** yourselves. They said we have a signed contract, he told them to take him to court....called him back and gave him the original rate
Really? So, you Dad end up having the same rate? or getting another car and lost the deposit?
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