Consumer complaint received 2025-11-26 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Account reinstatement or redemption after repossession
Company: BMW Financial Services NA, LLC
State: NJ

Complaint narrative:
Good afternoon XXXX XXXX, I am writing with deep urgency and concern after discovering a response from the Consumer Financial Protection Bureau ( CFPB ) buried in my junk email folder. I am forwarding the contents to you because the information directly impacts my complaint and the investigation currently being reviewed by your department. 

For transparency, I want to clarify that I submitted my concerns to both XXXX XXXX and her supervisor, XXXX XXXX XXXX, before filing anything with the CFPB. I am committed to keeping your office fully informed at all stages. 

Summary of CFPB Response : BMW Financial Services stated the following in their letter : That I was informed on XX/XX/year>, that my account needed to be brought current by XX/XX/XXXX to avoid repossession. 
That on XX/XX/XXXX, I was instructed to follow up within XXXX to XXXX business days regarding reinstatement or redemption. 
That a Notice of Sale was mailed on XX/XX/XXXX. 
That because of a prior repossession, I am allegedly eligible only for full redemption, not reinstatement. 

Major Concerns : XXXX. I never received a Notice of Default, Notice of Right to Cure or Notice of Sale, verbally, by mail or electronically. I have consistently stated this and no such documents have ever arrived. 
XXXX. The timeline provided by BMW does not align with the communications I received. I was told verbally that I needed to pay {$7100.00} to reinstate the account, not the full payoff. 
XXXX. BMW has not provided any explanation as to why none of these supposed notices reached me, despite me receiving all other BMW correspondence at this same address. 
XXXX. BMW has furnished no postal documentation, tracking or proof of mailing for the alleged Notice of Sale. 

Given these discrepancies, I am deeply concerned that I still do not know the status of the sale hold and I may soon be left without a vehicle. This situation is extremely distressing. 

Important Background for Your Investigation : When I purchased the vehicle at the BMW dealership in XXXX, Connecticut, I explicitly stated that my monthly payment could not exceed {$1200.00}. After hours at the dealership, the manager assured me that he had worked it out, and I was asked to sign all documents electronically. I did not realize until attempting to make my first payment that the monthly payment was actually XXXX XXXXXXXX than {$500.00} above what I stated I could afford. 

I contacted BMW Financial Services many times immediately afterward to report that the payment amount was incorrect and unaffordable. I delayed filing a formal dispute because I truly believed BMW would correct the issue. Unfortunately, they did not. 

Additionally, I never received a payoff figure verbally or in writing before, during or after the repossession. Each customer service representative told me the payoff could not be calculated until after the vehicle was picked up due to additional fees that would be added. This made it impossible for me to redeem or reinstate the loan. Recordings of my calls will clearly reflect what I was told. 

I feel the entire process has been inaccurate, misleading and unfair. 

Urgent Request : Given the seriousness of the CFPB response and the immediate risk that I may lose all transportation, I respectfully request your guidance on the following : How does the CFPBs response affect your departments investigation? 
What steps should I take right now to protect myself? 
Can you please confirm whether the temporary hold on the vehicles sale remains in place? 

Thank you sincerely for your time, assistance and continued support. I am deeply grateful for any guidance your office can provide during this critical moment. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation