Consumer complaint received 2025-03-01 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: BMW Financial Services NA, LLC
State: NY

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX, Apartment XXXX XXXX, NY XXXX Email : XXXX Phone : XXXX Date : XX/XX/year> To : BMW Financial Services NA , LLC XXXX XXXX XXXX XXXX XXXX XXXX, NJ XXXX Cc : BMW of XXXX XXXX XXXX XXXX XXXX New York, NY XXXX Regulatory Agencies : Securities and Exchange Commission ( SEC XXXX Consumer Financial Protection Bureau ( XXXX  ) Better Business Bureau XXXX BBB XXXX Federal Trade Commission ( XXXX  XXXX New York Department XXXX XXXX XXXX ( XXXX  ) Subject : Formal Dispute of Credit-Based Application Denial, Demand for Security Clarification, and Request for Vehicle Delivery Dear Sir/Madam, I am writing to formally dispute the denial of my application for a BMW XXXX, which XXXX rejected on the basis of alleged credit considerations. Despite my prior dispute, your response continues to reference credit as the determining factor, which is both incorrect and misleading given the financial nature of this transaction. 

Application as a Security and Financial Instrument Upon reviewing BMW Financial Services SEC filings, including but not limited to your XXXX, XXXX, and prospectus, it is evident that applications such as mine are not merely requests for credit approval but rather monetized securities used within your financial structuring. This means that my application was of tangible value and was utilized in BMW Financial Services securitization processes. 

Because this is a security transaction, BMW Financial Services can not legally deny my application based on credit while simultaneously leveraging it as a financial instrument. Your institution must acknowledge the true nature of this transaction and provide a resolution that reflects its securitized status. 

XXXX Demands and Clarifications XXXX. Provide the Current Status of My Application as a Security : Confirm whether my application has been pooled, securitized, or otherwise used in BMW Financial Services XXXX transactions. 
If my application has been leveraged, provide its current status and any relevant CUSIP or security identifiers. 
XXXX. XXXX XXXX XXXX XXXX : Your letter states that you are willing to provide a copy of my application. However, my application is a security and not a mere document. I do not want a copy. 
If BMW Financial Services no longer has possession of the original application, confirm in writing that it has been traded, securitized, or otherwise leveraged. 
XXXX. Cease Reference to XXXX as a Basis for Denial : This transaction is not a traditional credit-based lending transaction but rather a securitization-based financial structure. 
Provide written confirmation that credit evaluations do not apply in this context, and explain why credit was referenced in your denial letter despite my application being utilized as a security. 

XXXX XXXX XXXX XXXX Persists If BMW Financial Services fails to comply with this request, I will escalate the matter to all applicable regulatory agencies, including the SEC, CFPB, BBB, FTC, and NYDFS. The following actions will be taken : XXXX a formal complaint with the SEC regarding the handling of my application as a security. 
XXXX a complaint with the CFPB and XXXX regarding unfair financial practices and misleading credit-based denials. 
Initiate an audit of the security tied to my application to determine how it has been used within BMW Financial Services financial structuring. 
Pursue legal action to ensure my rights as the originator of this security instrument are upheld. 

Final Demand : My Vehicle and Full Compliance I am not only demanding clear documentation and responses addressing each of the points outlined above, but I am also requesting the delivery of my BMW XXXX. 

I have provided something of valuea security collateralwhich has been utilized by BMW Financial Services. As such, I expect my vehicle to be delivered in exchange for the value that was provided, as this was not a traditional credit transaction but rather a financial agreement backed by security collateral. 

I expect an immediate and detailed response. Failure to address this matter appropriately will result in escalated regulatory complaints and legal actions. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation