F30POST
F30POST
2012-2015 BMW 3-Series and 4-Series Forum
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BMW 3-Series and 4-Series Forum (F30 / F32) | F30POST > 2012-2019 BMW 3 and 4-Series Forums > General F30 Sedan / F32 Coupe / F36 Gran Coupe Forum > BMW Financial discriminating against small businesses? Need advice
Extreme Power House
Post Reply
 
Thread Tools Search this Thread
      07-22-2016, 12:57 AM   #1
F30guy
Private First Class
8
Rep
124
Posts

Drives: BMW 328i Convertible
Join Date: Oct 2007
Location: USA

iTrader: (0)

BMW Financial discriminating against small businesses? Need advice

BIMMERPOST
     Featured on BIMMERPOST.com
I went to purchase a new car with the new grad discount of $1000. I had my diploma which is what was required. The dealer submitted it and BMW responded saying they also need a current paycheck. I'm self employed, so I actually had paychecks from my clients because they weren't deposited yet, but BMW financial wouldn't accept them.

BMW financial was 100% okay with giving me the lease, but the only issue was with the new grad discount. So I paid the money assuming I'm going to call BMW financial and work this out.

I called, they transferred me from BMW financial to customer relations, then back to BMW financial and basically I was told I can't talk to that department.

Dealer even told me that night that it wasn't the dealers fault and they even showed me the response from BMW financial.

What can I do at this point? Its clearly discrimination. I offered to show my account, my deposits, I showed them my checks from the past two days from business customers, I even told them I will get the year to date from the two biggest companies I work for that make up a majority of my annual salary. They refused.
Appreciate 0
      07-22-2016, 01:03 AM   #2
MomoM3
Lieutenant
MomoM3's Avatar
United_States
117
Rep
473
Posts

Drives: 2016 340i / 2012 X5
Join Date: Aug 2008
Location: Pennsylvania

iTrader: (0)

Ok, but do you have an actual LLP, LLC, or Corporation set up? Otherwise you're just a freelancer getting checks, not an actual business.
Appreciate 3
      07-22-2016, 02:10 AM   #3
F30guy
Private First Class
8
Rep
124
Posts

Drives: BMW 328i Convertible
Join Date: Oct 2007
Location: USA

iTrader: (0)

Quote:
Originally Posted by MomoM3 View Post
Ok, but do you have an actual LLP, LLC, or Corporation set up? Otherwise you're just a freelancer getting checks, not an actual business.
Either way, its a business... You don't have to necessarily have a corporation, llc, etc... to be called a business. They didn't care either way, they didn't even ask.
Appreciate 0
      07-22-2016, 07:23 AM   #4
BEM-S4
Colonel
BEM-S4's Avatar
476
Rep
2,990
Posts

Drives: M235i, 328d, 328 Sport Wagon
Join Date: Oct 2012
Location: Philadelphia

iTrader: (0)

Your mistake was paying the money assuming you would work it out later and get a refund. Never do that. Where's your leverage?
Appreciate 4
      07-22-2016, 08:19 AM   #5
MomoM3
Lieutenant
MomoM3's Avatar
United_States
117
Rep
473
Posts

Drives: 2016 340i / 2012 X5
Join Date: Aug 2008
Location: Pennsylvania

iTrader: (0)

Quote:
Originally Posted by F30guy View Post
Either way, its a business... You don't have to necessarily have a corporation, llc, etc... to be called a business. They didn't care either way, they didn't even ask.
Sure, it's a business according to yourself, not according to the government though.

If your business has never filed taxes under a LLC, sole proprietorship, etc. then you are not considered a business under the eyes of the law.
Appreciate 14
      07-22-2016, 08:56 AM   #6
BEM-S4
Colonel
BEM-S4's Avatar
476
Rep
2,990
Posts

Drives: M235i, 328d, 328 Sport Wagon
Join Date: Oct 2012
Location: Philadelphia

iTrader: (0)

You should really set up an LLC (or whatever is appropriate in your case) to protect yourself, regardless of the BMW discount.
Appreciate 2
      07-22-2016, 09:09 AM   #7
sygazelle
Major
519
Rep
1,242
Posts

Drives: 2014 328i M-Sport
Join Date: Sep 2010
Location: San Francisco

iTrader: (0)

BMW needs a lesson on incentive programs. They are suppose to get you to buy the brand, not piss you off. Your situation is a good example. Coupling the grad discount to your pay is nuts. Either you qualify for the lease or you don't. That should be a separate issue.

When I bought my F30, I got a loyalty discount for buying another BMW. However, I only got the discount if I financed the car through BMW Financial. What does financing have to do with brand loyalty? Yet, BMW would not give me the loyalty discount unless I financed through them. All it did was piss me off. What kind of incentive and brand loyalty are they trying to create with that program.

I hope you work it out with them. Good luck.
Appreciate 0
      07-22-2016, 09:33 AM   #8
HotTea69
Private
9
Rep
54
Posts

Drives: 2014 f32
Join Date: Jul 2016
Location: NYC

iTrader: (0)

Quote:
Originally Posted by F30guy View Post
Either way, its a business... You don't have to necessarily have a corporation, llc, etc... to be called a business. They didn't care either way, they didn't even ask.
In order for you to declare yourself as a business it MUST be filed under a business tax ID. Most cases this results in an LLC or Sole proprietorship. (Assuming that you are just a small business). You may claim to be a business all you want but until you pay taxes under a business tax id, you are not seen as a business.
Appreciate 0
      07-22-2016, 10:01 AM   #9
BEM-S4
Colonel
BEM-S4's Avatar
476
Rep
2,990
Posts

Drives: M235i, 328d, 328 Sport Wagon
Join Date: Oct 2012
Location: Philadelphia

iTrader: (0)

Quote:
Originally Posted by sygazelle
BMW needs a lesson on incentive programs. They are suppose to get you to buy the brand, not piss you off. Your situation is a good example. Coupling the grad discount to your pay is nuts. Either you qualify for the lease or you don't. That should be a separate issue.

When I bought my F30, I got a loyalty discount for buying another BMW. However, I only got the discount if I financed the car through BMW Financial. What does financing have to do with brand loyalty? Yet, BMW would not give me the loyalty discount unless I financed through them. All it did was piss me off. What kind of incentive and brand loyalty are they trying to create with that program.

I hope you work it out with them. Good luck.
Their leases are massively subsidized to begin with and typically laden with incentives to get you on the needle, so to speak. Just did a loaded sport wagon with $4k off sticker, additional $1k loyalty, and a 63% residual which is very high. Combine that with their usual pull ahead incentives and it's tough to switch once you go down the BMW leasing path.

Best case in that scenario is you start your lease in Dec and the programs are always great then.
Appreciate 1
      07-22-2016, 10:08 AM   #10
Michael Schott
Lieutenant Colonel
106
Rep
1,831
Posts

Drives: 2014 328i sedan
Join Date: Dec 2007
Location: Farmington Hills, MI

iTrader: (0)

Quote:
Originally Posted by F30guy View Post
Either way, its a business... You don't have to necessarily have a corporation, llc, etc... to be called a business. They didn't care either way, they didn't even ask.
If you are going to run a business you need to be official and more importantly you need to understand how businesses think. BMW Financial has policies and needs proof before giving you a discount. That's how the business world works. You have given them no tangible proof that you are earning a legitimate income.

By the way your thread title is misleading.
Appreciate 1
      07-22-2016, 10:13 AM   #11
89alpinem3
Private First Class
30
Rep
153
Posts

Drives: 16'320i,89'M3,08'X3,12'128i
Join Date: Jan 2012
Location: Tucson,AZ

iTrader: (0)

I bet any manufacturers grad discount would not have accepted what you were turning in not just BMW. As all others have said if you were set up legally you wouldn't have had any issues
Appreciate 0
      07-22-2016, 10:16 AM   #12
lemonchicken
Second Lieutenant
United_States
91
Rep
206
Posts

Drives: 2013 328i blue
Join Date: Aug 2015
Location: los angeles

iTrader: (0)

You sound like such a whiny millennial. You didn't learn much while getting that precious degree did you? Give you a hint: try not acting so entitled. Then try reading; BMW credit is based on credit history and employment. Sounds like you have neither. And also try a new thread title and approach. Seriously? Discrimination? "Oh, I have no credit and no job and I can't buy a brand new BMW for 0% interest" I can see Fox News picking your story up any minute.
Appreciate 2
      07-22-2016, 10:27 AM   #13
BEM-S4
Colonel
BEM-S4's Avatar
476
Rep
2,990
Posts

Drives: M235i, 328d, 328 Sport Wagon
Join Date: Oct 2012
Location: Philadelphia

iTrader: (0)

Quote:
Originally Posted by lemonchicken
You sound like such a whiny millennial. You didn't learn much while getting that precious degree did you? Give you a hint: try not acting so entitled. Then try reading; BMW credit is based on credit history and employment. Sounds like you have neither. And also try a new thread title and approach. Seriously? Discrimination? "Oh, I have no credit and no job and I can't buy a brand new BMW for 0% interest" I can see Fox News picking your story up any minute.
That's why a lot of companies have college programs. Not for the discounts but just for kids with no credit. That's precisely why they need to verify employment.
Appreciate 0
      07-22-2016, 10:36 AM   #14
tex2670
Assistant to the Traveling Secretary
tex2670's Avatar
United_States
369
Rep
1,366
Posts

Drives: '14 328xi Sport Line
Join Date: Jan 2015
Location: Philly

iTrader: (0)

Quote:
Originally Posted by MomoM3 View Post
Sure, it's a business according to yourself, not according to the government though.

If your business has never filed taxes under a LLC, sole proprietorship, etc. then you are not considered a business under the eyes of the law.
I'm not sure the relevance of this fact. If the OP's issue is that he's entitled to a new grad discount, unless there's some issue on his qualification, why does it matter whether he's an employee, a sole proprietor, an LLC, an LP, a corp, or just a lazy-ass bum with no job? Unless the parameters for the new grad discount say Uncle Sam has to qualify you in a certain way how you pay your taxes, I'm not clear why this even matters.

Quote:
Originally Posted by lemonchicken View Post
You sound like such a whiny millennial. You didn't learn much while getting that precious degree did you? Give you a hint: try not acting so entitled. Then try reading; BMW credit is based on credit history and employment. Sounds like you have neither. And also try a new thread title and approach. Seriously? Discrimination? "Oh, I have no credit and no job and I can't buy a brand new BMW for 0% interest" I can see Fox News picking your story up any minute.
I totally agree that calling this "discrimination" is just ranting and raving. But if he can't verify employment and income, then he should not get approved for the lease, right? And if he is approved, and he is truly a "recent grad", why should BMW deny him his $1,000 discount?

I'm going to say we are missing some facts here.....
__________________

2014 328i xDrive | Black Sapphire / Black Red Dakota | Sport Line | Premium Pkg | Lighting Pkg | Cold Weather Pkg | Driver Assistance | Nav | Shift Paddles
Appreciate 1
      07-22-2016, 10:42 AM   #15
tex2670
Assistant to the Traveling Secretary
tex2670's Avatar
United_States
369
Rep
1,366
Posts

Drives: '14 328xi Sport Line
Join Date: Jan 2015
Location: Philly

iTrader: (0)

Quote:
Originally Posted by F30guy View Post
I went to purchase a new car with the new grad discount of $1000. I had my diploma which is what was required. The dealer submitted it and BMW responded saying they also need a current paycheck. I'm self employed, so I actually had paychecks from my clients because they weren't deposited yet, but BMW financial wouldn't accept them.

BMW financial was 100% okay with giving me the lease, but the only issue was with the new grad discount. So I paid the money assuming I'm going to call BMW financial and work this out.

I called, they transferred me from BMW financial to customer relations, then back to BMW financial and basically I was told I can't talk to that department.

Dealer even told me that night that it wasn't the dealers fault and they even showed me the response from BMW financial.

What can I do at this point? Its clearly discrimination. I offered to show my account, my deposits, I showed them my checks from the past two days from business customers, I even told them I will get the year to date from the two biggest companies I work for that make up a majority of my annual salary. They refused.
By the way, college grad or advanced degree? Because if you are a recent college grad, you've been on this forum since you were 13.

Did they deny because recent grad doesn't apply to advanced degrees? If I go and take some courses at Trump U, can I go to the dealer with my diploma and get a discount? There must be some other requirement then just having a diploma that was not met.
__________________

2014 328i xDrive | Black Sapphire / Black Red Dakota | Sport Line | Premium Pkg | Lighting Pkg | Cold Weather Pkg | Driver Assistance | Nav | Shift Paddles
Appreciate 0
      07-22-2016, 10:54 AM   #16
Big Nodge
Second Lieutenant
86
Rep
297
Posts

Drives: 340xi 6MT
Join Date: Mar 2016
Location: NH

iTrader: (0)

LOL at "discrimination". Dudes trying to buy BMWs, the essence of the downtrodden and the oppressed.
Appreciate 2
      07-22-2016, 10:59 AM   #17
mbanks21
Major
93
Rep
1,413
Posts

Drives: 2015 335i MSport
Join Date: Aug 2013
Location: St. Pete Florida

iTrader: (8)

Quote:
Originally Posted by Big Nodge View Post
LOL at "discrimination". Dudes trying to buy BMWs, the essence of the downtrodden and the oppressed.
GATTICA! GATTICA!
Appreciate 3
      07-22-2016, 11:29 AM   #18
lemonchicken
Second Lieutenant
United_States
91
Rep
206
Posts

Drives: 2013 328i blue
Join Date: Aug 2015
Location: los angeles

iTrader: (0)

Wow I Can Read

I guess reading comprehension is no longer required at college?
Quote:
Eligibility Requirements1:
You've earned an undergraduate, graduate or associate's degree from an accredited college or university within the previous 24 months OR you are eligible to graduate within the next 6 months and have a verifiable offer of employment.

You have at least 6 months of credit history with no major derogatory entries.

You have a debt-to-income ratio of 20% or less.
Let them eat CAKE!

Quote:
Offer Disclaimer
1. Offer subject to credit approval through BMW Financial Services and verification of graduation and employment. Recent graduate means graduation from an accredited college or university with a doctorate, graduate, undergraduate, or associate's degree earned within the previous 24 months, or is eligible to graduate within the next 6 months and has a verifiable offer of employment.
I can't meet all of the requirements, so I believe I will sue BMW for discrimination. Discrimination against people without verifiable employment or reading skills. Class action? Who's in?
Appreciate 2
      07-22-2016, 11:46 AM   #19
tallshortguy
First Lieutenant
24
Rep
345
Posts

Drives: 2014 328i
Join Date: Jan 2014
Location: US

iTrader: (0)

Boy if you think this is discrimination you must have had a hell of a sheltered life.
Appreciate 2
      07-22-2016, 11:55 AM   #20
tex2670
Assistant to the Traveling Secretary
tex2670's Avatar
United_States
369
Rep
1,366
Posts

Drives: '14 328xi Sport Line
Join Date: Jan 2015
Location: Philly

iTrader: (0)

Quote:
Eligibility Requirements1:
You've earned an undergraduate, graduate or associate's degree from an accredited college or university within the previous 24 months OR you are eligible to graduate within the next 6 months and have a verifiable offer of employment.

You have at least 6 months of credit history with no major derogatory entries.

You have a debt-to-income ratio of 20% or less.

Offer Disclaimer

1. Offer subject to credit approval through BMW Financial Services and verification of graduation and employment. Recent graduate means graduation from an accredited college or university with a doctorate, graduate, undergraduate, or associate's degree earned within the previous 24 months, or is eligible to graduate within the next 6 months and has a verifiable offer of employment.
Quote:
Originally Posted by lemonchicken View Post
I guess reading comprehension is no longer required at college?

Let them eat CAKE!

I can't meet all of the requirements, so I believe I will sue BMW for discrimination. Discrimination against people without verifiable employment or reading skills. Class action? Who's in?
Oh my word. Now this is crystal clear.

Quote:
I'm self employed, so I actually had paychecks from my clients because they weren't deposited yet, but BMW financial wouldn't accept them.
So you have "paychecks" from clients? You do realize that BMW is looking for some type of evidence that you will continue to receive "paychecks from clients" after you sign the lease, right? Hopefully for 3 more years...not just you have a few dollars lying around in the bank right this minute.... A "debt to income" ratio based on one month's billings to your clients *might* not get you over the 20% ratio.....
__________________

2014 328i xDrive | Black Sapphire / Black Red Dakota | Sport Line | Premium Pkg | Lighting Pkg | Cold Weather Pkg | Driver Assistance | Nav | Shift Paddles

Last edited by tex2670; 07-22-2016 at 01:12 PM.
Appreciate 0
      07-22-2016, 01:26 PM   #21
Wires
Major
31
Rep
1,069
Posts

Drives: 340i xDrive
Join Date: Apr 2008
Location: Calgary

iTrader: (0)

Why is in this new world that everyone is a victim because they don't like the rules?

My kids have a paper route with consistent checks, so I'm sure my daughter would be able to get Audi to finance that R8 that she keeps looking at since she is technically a "small business". LOL
Appreciate 2
      07-22-2016, 01:49 PM   #22
Big Nodge
Second Lieutenant
86
Rep
297
Posts

Drives: 340xi 6MT
Join Date: Mar 2016
Location: NH

iTrader: (0)

I'm happy to see that bimmerpost is decidedly not a "safe space". Though in fairness we probably should have provided trigger warnings before exposing him to reality.
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 12:17 PM.




f30post
f30post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST