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Read the WELCOME ALL BMWFANATICS post.
BMW South Africa ordered to repay customers for “on-the-road” fee
- Thread starter ChefDJ
- Start date
MikeR
Well-known member
mgwaiting: the reason one see the price of a car and they note clearly excludes on the roads charges are there for a reason but people just dont want to listen.It needs to be paid for separately - but everyone is so hooked up in the financing and living on credit they insist it gets added to the finance deal :hammerhead: I dont blame just the financial companies its the individuals to blame here also.
So in hindsight - I dont believe its the financial institutes fault you guys insist they put that that part of the cost on the final financing amount - and I dont believe they should be paying it back it was your choice to add it to the finance stop blaming everyone else for your mistakes.
I pay cash for my cars now - tired of living in debt to the financial sector, dont get pulled into it guys.
ChefDJ
///Member
MikeR said:
Who says these guys added it to their finance and it wasn't deducted from their deposit, thus making the deposit on the actual price of the car smaller.
In the end, they are financing a higher amount than they should have been.
No need to tell the guys here that "it's their fault".
I agree with MikeR that we should pay for it in cash, and maybe dealers should't offer this cost on finance, but some aren't as fortunate as others to buy a car outright so we allow some exploitation.
For example: When I (a first time customer to both brand and dealer) bought my car I paid a deposit. Signed where needed and drove home. Months later I was going through my contract and I could not see my deposit in the finance agreement. They ran the finance deal for the full cost of the car. I called the dealer and was told to call BMW FS who then explained that my deal was for the full price but they took the deposit and 1st installment as the 'first installment'. Right. So hello 57 more months of higher interest.
The dealer knowingly f***ed me, followed by BMW FS who offered no real solution. As is life one gets busy and learns to live with knocks on the chin and that's how I left it.
In my personal case I feel the refund of my OTR as part-vindication for their shitty, devious behavior.
For example: When I (a first time customer to both brand and dealer) bought my car I paid a deposit. Signed where needed and drove home. Months later I was going through my contract and I could not see my deposit in the finance agreement. They ran the finance deal for the full cost of the car. I called the dealer and was told to call BMW FS who then explained that my deal was for the full price but they took the deposit and 1st installment as the 'first installment'. Right. So hello 57 more months of higher interest.
The dealer knowingly f***ed me, followed by BMW FS who offered no real solution. As is life one gets busy and learns to live with knocks on the chin and that's how I left it.
In my personal case I feel the refund of my OTR as part-vindication for their shitty, devious behavior.
TurboLlew
Honorary ///Member
This is not binning the concept of on the road costs if I am reading this correctly. Charging the fee is not the issue here (Note: I hate this personally so not defending it - I am just trying to make sense of this 'ruling') - it is adding it to the principle debt that is the issue. If they are refunded by the finance house, then what happens to that fee? Must the client pay it back in cash? If so, to who? Dealership will have been paid by the finance house already. If the finance house then coughs up the fee (I would imagine) to the client then what happens? Are they going to refund the interest portion only? The mechanics around this are not clear. Are they going to do the same for the rest of the banks?
Has someone tried to claim yet?
Has someone tried to claim yet?
