# HELP! ED dream has become a nightmare!!!



## petrojo (Oct 2, 2004)

Group-- first, thank you all for giving me great advise as I planned my ED trip-- it went off without a hitch at the end of October and, although way too short, was fantastic!! and the car (1M) is equally great. I plan of posting some info and pics as soon as I can, but now I'm facing a nightmare first, that I hope folks can help & advise with...

I'm in NY; due to no allocation at my local dealer, i was forced to buy the 1M for ED through an out of state dealer (MD). The week before I picked up in Munich, I failed to get my loan check from PenFed, so I was forced to go to my bank the monday of that week (leaving Wed. pm, pickup at Welt Friday) and obtain a cashier's check for the full amount of the car. I put the check, and the signed contracts and other paperwork, in a fedex for next day delivery (tues) to the dealer. (I was under the sensible impression that if the dealer didn't get the check for the car before I left, I could not pick it up in Munich.) Checked the FedEx tracking and package was delivered Tues 9:35am. Email CA and say "fedex tracking shows you got the package with my check and papers this am, so I assume we are all set.." He replies within the half hour, "contract received. all good." We also discussed my courtesy delivery (my NY dealer will get the car transferered to him at port and shipped here; cost me $300) and he said we'd work that out when I return. 

The 4 day trip was great; spent 200+ miles driving around alps in perfect weather, etc. Two days after I return, get email from CA saying "Do you have a tracking number for the money you sent? Accounting is saying they never received it." I tell CA it was in the fed ex with the contract, he says "shoot.. i'll find it...if you don't hear back, we're all good") Three days later he calls to say can't find check, could I send another? I say, it's a cashier's check, you can't just stop payment on those... you need to wait 90 days. He says they will pay any fee to get the check recut; I make several calls to lawyers, BoA managers, and Bondsmen, and then call back CA and tell him that accourding to B of A, the only way they can stop payment on this check and issue another is to get a surety bond from me for TWICE the amount of the first check (almost $90 grand) and that bond will cost $1500-2000. he says "no way that's gonna happen"... I tell him i have my copy of the check; he asks me to scan & email it and I do... that was last Friday afternoon; I have called twice since, but I haven't heard anything back from the dealer. I would be willing to get a letter of credit from the bank, or sign a note to the dealer, promising that if they don't find and cash the check before the 90 period lapses, I will wire the $$$, or if they will pay for the bond (or discount the car by that amount) i'll go that route. But what rights do i have here? can they simply refuse to give me the car? can they sell it out from under me ( for a markup)? How can I make sure that i can get the courstesy delivery in December (so I don't have to drive a 1M up the northeast corridor in Dec or Jan on performance tires) without having to pay twice for the car (and risk that they find the check, cash it, and then I have to sue to get one of the payments back? Is there any other option I can't think of? Also, I tried to contact BMW, and they do the same old thing-- you must deal with the dealer on sales, we only deal with after sales issues...

HELP!!!!!


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## Merlosso (Feb 9, 2011)

First, congrats on the car. 

Second, the dealership lost the check, not you. You put it in the envelope, the tracking number shows delivered, the CA confirmed they had everything before you left. Sounds like they know they messed up and they are trying to figure out how to resolve the issue. That is why they asked about a stop payment and a new check; they are exploring options. I know it's hard but just be patient and follow-up regularly. They will surely find a solution and you'll have your car safe and sound. :thumbup:

It will take a few weeks just to get the car over here and through customs. I'm sure this is very stressful for you but I think there is plenty of time to get this sorted out.


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## Chuck W. (Apr 27, 2007)

Merlosso is spot on. Sit back and let the dealership figure "their" problem out.


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## dkreidel (Aug 24, 2005)

Agree with both responses; it is the dealer's mess to clean up - and ChuckW, your 993 is gorgeous! I rue the day I sold my 993 Turbo and bought a 997 TT.

Dick


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## rmorin49 (Jan 7, 2007)

Since I am in MD, would you mind revealing the dealer? Thanks.


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## boothguy (Feb 1, 2007)

Well, so far you appear to have done everything right, and I commend you for keeping a level head. Unfortunately, that sometimes does nothing to resolve the problem. In this day and age, you sometimes have to act like a fool to get people to admit they're in the wrong, and I hope it doesn't come to that. I'm no lawyer and in no position to give you pertinent advice, but I'll bet someone around here will chime in soon with some good advice backed up by real-world experience. I think Merlosso is on the right track above. They realize they lost the check and they're seeing how much wiggle-room they can get with you. Hang in, and keep us posted.


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## Norm37 (Jun 28, 2008)

Merlosso said:


> First, congrats on the car.
> 
> Second, the dealership lost the check, not you. You put it in the envelope, the tracking number shows delivered, the CA confirmed they had everything before you left. Sounds like they know they messed up and they are trying to figure out how to resolve the issue. That is why they asked about a stop payment and a new check; they are exploring options. I know it's hard but just be patient and follow-up regularly. They will surely find a solution and you'll have your car safe and sound. :thumbup:
> 
> It will take a few weeks just to get the car over here and through customs. I'm sure this is very stressful for you but I think there is plenty of time to get this sorted out.


:thumbup:

Now it is up to the MD dealer to decide if they want to wait 90 days or pay for a surety bond.

I am curious why the surety bond would be for twice the amount? Even if both cashiers checks where cashed your bank has already received money from you to cover one of the checks.

Is the 90 day wait because the cashiers check must be cashed within 90 ?


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## chrischeung (Sep 1, 2002)

Norm37 said:


> I am curious why the surety bond would be for twice the amount? Even if both cashiers checks where cashed your bank has already received money from you to cover one of the checks.


Isn't that the point of a cashier's check? That there are guaranteed funds? Otherwise you may as well just cut a personal check.


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## Norm37 (Jun 28, 2008)

chrischeung said:


> Isn't that the point of a cashier's check? That there are guaranteed funds? Otherwise you may as well just cut a personal check.


True! That's why I was curious.


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## petrojo (Oct 2, 2004)

Originally Posted by Norm37 
I am curious why the surety bond would be for twice the amount? Even if both cashiers checks where cashed your bank has already received money from you to cover one of the checks.

I had the same response you did-- why not a surety bond for just the amount of the second check… the answer from BoA was something to the effect that the bank needs to be more than fully covered by me, so only i am exposed, which is the only way they can claim the lost check is now in effect "my instrument" so they can side step UCC and stop paymeny + reissue…. 9not a completely convincing argument if you ask me). 

In any event, it way BMW special sales that brokered the solution-- the car will stay secured at the port for an additional 6 weeks while the rest of the 90 day period passes-- at which time the car will go to my courtesy delivery dealer and my bank will wire the funds to the dealer. BMWNA seemed to say that until the dealer actually cashed my check, the car is still the dealer's, so to protect my interests while the 90 day period runs, the best thing is to secure it at the port. 

How do people feel about that? I should say that the 6 extra weeks i wait for the car assumes that it clears VDC normally and has no damage; plus, i was just going to be garaging the car until spring in any event (so this result allows me to postpone insurance premiums and sales tax payment for another 6 weeks, plus avoid the cost of an extra garage rental for the winter.) If it weren't winter i think i would demand some compensation for having to wait the extra time.


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## Chuck W. (Apr 27, 2007)

petrojo said:


> the car will stay secured at the port for an additional 6 weeks while the rest of the 90 day period passes--e best thing is to secure it at the port.
> 
> How do people feel about that?


You are being more than understanding. Your dealer should work out some type of compensation to you for the 6 week wait. The fact that you don't mind is not the issue. They have caused you distress and inconvenience.


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## Norm37 (Jun 28, 2008)

Chuck W. said:


> You are being more than understanding. Your dealer should work out some type of compensation to you for the 6 week wait. The fact that you don't mind is not the issue. They have caused you distress and inconvenience.


:thumbup:



petrojo said:


> In any event, it way BMW special sales that brokered the solution-- the car will stay secured at the port for an additional 6 weeks while the rest of the 90 day period passes-- at which time the car will go to my courtesy delivery dealer and my bank will wire the funds to the dealer. BMWNA seemed to say that until the dealer actually cashed my check, the car is still the dealer's, so to protect my interests while the 90 day period runs, the best thing is to secure it at the port.


Well it is a good thing that you did not pay them cash ($ bills) that they lost. They might be storing your 1M for months or even years until they found the money they lost.

Their logic is bewildering to me:rofl:

I guess that also means you where driving the dealers car while in Europe:tsk:



> Originally Posted by petrojo: I was just going to be garaging the car until spring in any event (so this result allows me to postpone insurance premiums and sales tax payment


Check on lowering your insurance coverage whenever you store you car.

My son has his Mustang in storage now while he drives his BMW.

His State Farm insurance ( fire & theft coverage.) while in storage is only $5.68 a month.
He will put full coverage back on when he takes it out of storage.

Ps. Just had another thought. Your warranty period started when you signed for the car in Europe. You should get some kind of compensation for lost warrany along with compensation for being without your car.


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## Norm37 (Jun 28, 2008)

> originally Posted by petrojo: I was just going to be garaging the car until spring in any event (so this result allows me to postpone insurance premiums and sales tax payment


You still need compensation. How about asking them to waive the courtesy delivery fee for all your troubles?

IMO the above is a very reaonable compensation request. BMWNA has picked up a lease payment for other posters on this forum who have had delays in their delivery.

Second choice: Charge them a 6 week rental fee for your car.

http://www.findexotic.com/1000_exoticcarrental/BMW135iConvertible.htm

A 1M should rent for a higher fee.


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## pharding (Mar 14, 2004)

I am sorry to learn of your ordeal. cashier's check = cash is the problem. This is why I always use BMW FS. Zero risk.


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## Norm37 (Jun 28, 2008)

pharding said:


> I am sorry to learn of your ordeal. cashier's check = cash is the problem. This is why I always use BMW FS. Zero risk.


:thumbup:

And no penalty for an early payoff. You can get the payoff amount online.

Also you can make additional payments (for any amount) from your computer any time you want.

These payments show up right away in your online amortization schedule.


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## MB330 (Oct 18, 2005)

Petrojo!
What the latest news?


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## pharding (Mar 14, 2004)

What is happening?


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## jackalope (Jan 29, 2009)

pharding said:


> I am sorry to learn of your ordeal. cashier's check = cash is the problem. This is why I always use BMW FS. Zero risk.


That's exactly what I did but with a twist. After FS approved me, I cut a personal check to the dealer for the total amount of the car as a straight sale and the F/I guy held the FS paperwork instead of submitting it to the FS for processing while my personal check cleared. Once it cleared (in a few days), he tore up the FS paper. This way, I didn't even have to bother with paying off the loan because the loan was never invoked.


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## chrischeung (Sep 1, 2002)

pharding said:


> This is why I always use BMW FS. Zero risk.


I think I'm missing something. What if the dealer loses the first check you cut for your lease to BMWFS? Isn't that the same thing? Or are you saying that BMWFS itself is risk free? Meaning the German government would bail them out like GMAC Finance if they went bankrupt? http://www.businessweek.com/news/20...d-have-cost-u-s-50-billion-treasury-says.html

Remember how everyone used to say sovereign bonds were risk free? Think about all the textbooks being rewritten.


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## Tanning machine (Feb 21, 2002)

Chuck W. said:


> You are being more than understanding. Your dealer should work out some type of compensation to you for the 6 week wait. The fact that you don't mind is not the issue. They have caused you distress and inconvenience.


That's a totally ridiculous "solution". They have lost your payment, but the funds have been deducted from your account. That is not in dispute.

The only issue now is how can they ensure that, if they don't find your payment, you will do the honorable thing by having another check issued. What they are proposing is to hold your car hostage--one you have paid for already--until you can be comfortable you won't be double-paying.

I would find that an outrageous solution. I would insist on my car, or compensation, and offer to sign a letter stating that if the cashiers check has not cleared by 90 days you will have payment stopped and a new cashier's check issued, less expenses for reissuing the check. That gives them a basis for coming after you if you fail to pay them.


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