Consumer complaint received 2020-02-13 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Problems at the end of the loan or lease — Termination fees or other problem when ending the lease early
Company: BMW Financial Services NA, LLC
State: FL

Complaint narrative:
XXXX-signed lease for New XXXX XXXX XXXX at XXXX XXXX   aka XXXX XXXX located at XXXX XXXX XXXX, XXXX XXXX XXXX, FL XXXX. Lease provided by BMW Financial Services ; 1st payment of XXXX due on XX/XX/XXXX followed by 35 payments of the same amount due the XXXX of each month, with a scheduled maturity date of XX/XX/XXXX. 

XXXX8-Terminated lease early or thought I did by leaving XXXX XXXX XXXX leased vehicle at dealership after being provided with Lease-End Inspection Form for vehicle. On same day and at the same time my leased vehicle was being inspected I was with a sales person and ultimately purchased a used XXXX XXXX XXXX at dealership located at XXXX XXXX aka XXXX XXXX located at XXXX XXXX XXXX, XXXX XXXX XXXX, FL XXXX ... where I originally leased my XXXX XXXX XXXX. 

I planned to pay the remaining payments that day however at the dealership was told I would receive a final bill from BMW Financial Services and from there make payments arrangements. In the meantime, I left my leased vehicle thinking I was terminating the lease and when the final bill didn't come, I'm not sure of the date but I called BMW Financial Services only to find out my lease wasn't terminated. I received several letters from BMW Financial Services after telling them I turned my lease in early and would like to pay the remaining payments to terminate the lease early and would like to know my options. 

I paid {$6100.00} on XX/XX/XXXX which was the remaining payments due on my lease and end of lease fees based on a letter dated XX/XX/XXXX. On XX/XX/XXXX I called to get an updated payoff and received a payoff letter with a payoff amount of {$42000.00}. I called BMW Financial Services attempting to cure this situation and making my concerns and dissatisfaction known. 

Now, my credit bureau reflects BMW Financial Services as a negative account in default with a balance owed of {$12000.00}. This shouldn't have happened with a dealership BMW Financial Services partners with. I wouldn't have purchased a used car if I wasn't in good faith believing my lease was being inspected for early termination and less than 4 months be considered repossessed. This is a bad business practice and needs to stop. 

I was calling and disputing my account with BMW Financial Services prior to their " repossessing '' a vehicle I left at a dealership they partner with. It doesn't seem right. Please help me. I can't get a hired at jobs because of how this has been handled. I paid what was due on my lease contract and I tried to get an updated payoff. I shouldn't be responsible for the tactics the dealership uses to secure a new deal. BMW Financial Services is responsible for allowing the dealership to accept an early termination lease vehicle and keep said vehicle for 4 months ... ..knowing the purchase of the used BMW wouldn't have happened if they didn't accept an early termination lease on behalf of BMW Financial ... extremely misleading and the dealership isn't alone, BMW FInancial ALLOWS this! This is a horrible business practice and I, as a consumer am paying the price. Not the dealership not BMW Financial. Mismanagement on every front, and corrupt business practice. It is sad. 

I disputed the information reported with the credit reporting agencies and BMW Financial Services hasn't changed anything. Please let me know if Thank you for any help possible. Thank you and best regards, XXXX

Company response to consumer: Closed with explanation