Consumer complaint received 2015-08-06
Product: Consumer Loan — Vehicle loan
Issue: Problems when you are unable to pay — 
Company: BMW Financial Services NA, LLC (AK)

I was behind making my vehicle loan to BMW Financial. On XXXX/XXXX/2015 they repo my vehicle and on XXXX/XXXX/15 i received a Notice of Intent to Sell Vehicle & this notice is dated on XXXX/XXXX/15 and on the Notice it has XXXX options how to get my vehicle back ; 1st.Option-Reinstate ) if i want to reinstate the contract within XXXX days of the date of this Notice i have to pay the amount shown to BMW Financial Services & the payment must in the form of certified funds as follows ; Total due {$3100.00} 2nd.Option-Redeem ) basically pay-off the total loan vehicle {$39000.00}. Okay to make the story short XXXX choose the option XXXX reinstate and i send the funds through XXXX XXXX on XXXX/XXXX/15 for the total due {$3100.00} & i elect the Urgent so that way they will received the funds within XXXX minutes and i called BMW to give them the Tracking # /Confirmation for the funds that i sent through XXXX XXXX to let them know that i am Reisntating my vehicle and if they could let me know when i should be getting it back from their Vendor ( XXXX which is located in XXXX XXXX XXXX ) which i think it is redundant that they do n't have a storage available in XXXX . But the Customer Rep that i spoke with on XXXX/XXXX/15 XXXX said the reinstatement funds that we sent was short it should included the XXXX payment. Which is my XXXX payment is due every XXXX of the month and i know there is a 7 day grace period. So i was shock and upset why he 's telling me a different story i told him if he could refer on the demand letter that we received dated XXXX/XXXX/15 and it clears on the letter we have XXXX days to satisfy the demand letter to reinstate. I asked, XXXX if he can notate that i will be sending the XXXX payment on the XXXX ( end of the month ) since that is payday and i do n't really have additional funds at this time to send the XXXX payment. He said no they ca n't hold the vehicle for me which is just XXXX days away and i will be sending the payment. And i even explained to them the reason why i was late on making my payments due to at my job during summer for the month of XXXX & XXXX we do n't have work and i do n't get paid ( seasonal job ) and if they can be more considerate or work with my financial hardship. They advised, No they are not wiling to reinstate my contract and i even request if i can speak directly to the BMW Collections Manager and review my file. They refused they gave us some reasons that he is in/out of the Office having a lot of meeting to attend and we even gave our number so he can reach out for us or give us his XXXX or XXXX minutes to hear our side of story. But there was no call received and the funds that we sent through XXXX XXXX they said they will return the funds back to us by XXXX also. However we received an email on XXXX/XXXX/15 from them and advised the funds will be mailed by check to us shortly. Please we need help/resolution if BMW did follow the CFPB regulations regarding their Loan Vehicle when your Loan is in Default or if they are in Compliance.