[canadaeh89]

Hey guys, this forum has been very helpful for me so far so I figured I'd ask here.
I went to go pick up my 2016 M235i today (order placed March 28, it was a factory order).

I wasn't able to pick it up today as the financial service rep. said because the residual values have dropped by 2% since I signed it back in March, that they could not honor my lease monthly payments and that those went up. I thought this was ridiculous and I showed her on my contract that there was no mention of residual value changing etc. (even though it was saying it on the new contract she just printed out for me). She acknowledged that it should've said so back in March when I signed it but that isn't really my fault if they didn't include it when we both signed the agreement. So she will call head office and get back to me tomorrow to see if they could push it back. She said the paper I signed back in March was not a valid contract as it did not have the VIN (it was a factory order), she could not show me where she got that ridiculous statement btw.

Anyways I am wondering if anyone has some advice on this matter. I realize the residual dropping 2% may only raise up my monthly payments by like 30$ but I've been having trouble with this dealership (which I don't want to put on the spot now) since I have placed my order.

Thanks in advance! (this is in Canada but any legal advice will still help)

[Sportstick]

Originally Posted by canadaeh89

Hey guys, this forum has been very helpful for me so far so I figured I'd ask here.
I went to go pick up my 2016 M235i today (order placed March 28, it was a factory order).

I wasn't able to pick it up today as the financial service rep. said because the residual values have dropped by 2% since I signed it back in March, that they could not honor my lease monthly payments and that those went up. I thought this was ridiculous and I showed her on my contract that there was no mention of residual value changing etc. (even though it was saying it on the new contract she just printed out for me). She acknowledged that it should've said so back in March when I signed it but that isn't really my fault if they didn't include it when we both signed the agreement. So she will call head office and get back to me tomorrow to see if they could push it back. She said the paper I signed back in March was not a valid contract as it did not have the VIN (it was a factory order), she could not show me where she got that ridiculous statement btw.

Anyways I am wondering if anyone has some advice on this matter. I realize the residual dropping 2% may only raise up my monthly payments by like 30$ but I've been having trouble with this dealership (which I don't want to put on the spot now) since I have placed my order.

Thanks in advance! (this is in Canada but any legal advice will still help)

I am not representing myself as an attorney. If I were in your position, I would tell them that they have two choices. 1) Deliver the car according to the original terms. 2) You will seek an injunction to prevent them from selling that vehicle in another sale and will further file an action for specific performance of the contract for delivery of the ordered vehicle under the original terms. Be prepared to walk out the door at that moment. If possible, get a copy of the modified contract which she just produced (without your signature!) for evidentiary purposes.

The lack of a VIN as a defense is nonsense. The parties contemplated the order of a vehicle to be produced and agreed to a product configuration and a price. If those are satisfied, the VIN is not material. The vehicle they now have is connected via documentation/production number to your order. Not knowing the VIN in advance of production is not relevant to the terms of the agreement. If it was, there could never be a valid contract for the order of a vehicle, as the VIN is never known at that early time, which is an absurd position to take and would not likely prevail.

Good luck!

[ShockTower]

Sorry to hear about that but any advice you get here is going to be worth about as much as you pay for it. I'd recommend you call a lawyer if they fail to honor the original agreement.

[cmiller219]

Oh Man I had this same issue. But luckily I just talked to them and they honored my original paperwork. GL stay positive and I hope they honor your original agreement

[canadaeh89]

You guys are awesome, thanks for the support, I'll let you know how it turns out tomorrow.

[Transfer]

Rates and residuals are locked in for 90 days only. Are you past that timeline? At least that's how it works here and I'm pretty sure that's a BMW Financial policy. If you're leasing through BMW, the dealership probably has no control over the changes.

[siwo]

I don't have any suggestions but sounds to me they're at least attempting to get BMW Canada to help out. I'm sorry to hear about your issues here, may I ask which dealer you are dealing with? I'm wondering if it's the same dealer as mine and if I'm going to have any issues as well?

[Rayscott]

One of the guys on the S2000 forum I frequent even though I don't have the S anymore is an attorney. He has a M235 and is on this website. I will email him and ask him to take a look at this post and hopefully provide some advice. His profile on S2000 is Legal Bill. That website is www.s2ki.com. You could go on there and find him in the Vintage forums. He posts a lot.

[Elvisfan]

I'm no lawyer. I will not represent my self as one. However,a lease involves residual rates. Residual rates change all the time. If it had gone the other the other way,you would expect them to lower it.
Someone suggested file an injunction. Don't forget legal fees. Frankly I'm surprised they negotiate those types of deals so far out.

[robman23]

Here's a different take. I rarely take the legal route. It requires too much time and effort for what could amount to a small amount of money - small ROI. I would give them the chance to accept the original lease or you walk. And mention is you walk, you talk - to everyone you know about BMW and the dealership. If they don't agree, be ready to visit another dealership and let the haggling begin.
Good luck.

[canadaeh89]

Hey guys, thanks again for all the help! I truly appreciate, it ended up going well and they honored the original lease terms. So I picked up the car today and I love it!!

Hopefully this helps anyone who is going through this or may come across this thread later.

[zipstic]

Glad it worked out for you! Now go drive your car!

[overcoil]

Originally Posted by canadaeh89

Hey guys, thanks again for all the help! I truly appreciate, it ended up going well and they honored the original lease terms. So I picked up the car today and I love it!!

Hopefully this helps anyone who is going through this or may come across this thread later.

Since you ordered...I'm curious what your configuration is?
Congrats on a great car!

[ChuckAWDM2]

Originally Posted by canadaeh89

Hey guys, thanks again for all the help! I truly appreciate, it ended up going well and they honored the original lease terms. So I picked up the car today and I love it!!

Hopefully this helps anyone who is going through this or may come across this thread later.

Glad it all worked out! enjoy!

[BEM-S4]

Fwiw every deal I've ever done has been either deal at signing or better if terms have improved at delivery.

[canadaeh89]

Originally Posted by ScottSinger

Since you ordered...I'm curious what your configuration is?
Congrats on a great car!

Estoril blue, 6MT and the only option is sunroof :P

[siwo]

Originally Posted by canadaeh89

Hey guys, thanks again for all the help! I truly appreciate, it ended up going well and they honored the original lease terms. So I picked up the car today and I love it!!

Hopefully this helps anyone who is going through this or may come across this thread later.

I am glad everything has gone well for you. Wow, you get to enjoy the car today! How is it???

Post pics or it didn't happen! jk

[Rayscott]

Originally Posted by Rayscott

One of the guys on the S2000 forum I frequent even though I don't have the S anymore is an attorney. He has a M235 and is on this website. I will email him and ask him to take a look at this post and hopefully provide some advice. His profile on S2000 is Legal Bill. That website is www.s2ki.com. You could go on there and find him in the Vintage forums. He posts a lot.

Great, I will tell my friend that the issue is resolved. Enjoy your new ride and let the stress disappear.