BMW Finance-Select Scheme Nightmare

Redguy · 08-15-2006, 07:32 AM

Having a few problems with BMW financial services.

I bought my E90 with their 'select' scheme, like a higher purchase agreement. Everything was fine, until the possibility has arisen of me moving to the Irish Republic.

In the small print, you cannot take your car abroad for any more than 60 days at a time! This also means that you cannot re-register with the countries plates, or pay your money in Euro.

What makes it worse is that I thought that we were all in the EU?

I spoke to Financial Services, and a few dealers, hoping for a different take. However, they basically said, sell it, and pay off the HP.

I originally thought about downsizing to a 1 series, for here and there, because of the esculating motoring costs, also reducing the monthly payments. But I seem to be a little stuck, with no help from BMW.

Sorry about the lengthy post, but I am a little put out - and a little confused about what to do!

ALPINE6SPD · 08-15-2006, 08:28 AM

sell the car. That is really all you can do.

Redguy · 08-17-2006, 10:32 AM

It's perhaps my only option!

330m · 08-17-2006, 11:53 AM

Think so.

We might all be in the EU, but as far as cars & loans you might as well be in Timbuctoo.

Mine's on the Select (hire purchase) agreement, and as the car isn't yours until you've paid for it all, it would be difficult for BMW finance to transfer their asset (the car) to a different territory in the middle of the process.

Sell it back or pay someone to steal it for you!

Redguy · 08-19-2006, 05:48 AM

Anybody want to buy an E90?!!!

mjh93sa · 08-19-2006, 01:43 PM

As 330m states, it's probably because the agreement is with BMW Financial Services (GB) and they don't want a car that they still have legal title to leaving the country as I guess there could be all sorts of legal complications.

Depending on your circumstances it might be worth looking at some other sort of finance package that would allow you to keep the car and then take it to Ireland. Or failing that to at least change cars before you go as there was a post some time ago when BMW introduced the 316 to Ireland bemoaning the extremely high taxation on new cars over there.

http://www.e90post.com/forums/showth...&highlight=316

08-15-2006, 07:32 AM	#1
Redguy Second Lieutenant 20 Rep 276 Posts Drives: E90 330i SE Join Date: Feb 2006 Location: United Kingdom iTrader: (0) Garage List 2007 BMW 330i [0.00]	BMW Finance-Select Scheme Nightmare Having a few problems with BMW financial services. I bought my E90 with their 'select' scheme, like a higher purchase agreement. Everything was fine, until the possibility has arisen of me moving to the Irish Republic. In the small print, you cannot take your car abroad for any more than 60 days at a time! This also means that you cannot re-register with the countries plates, or pay your money in Euro. What makes it worse is that I thought that we were all in the EU? I spoke to Financial Services, and a few dealers, hoping for a different take. However, they basically said, sell it, and pay off the HP. I originally thought about downsizing to a 1 series, for here and there, because of the esculating motoring costs, also reducing the monthly payments. But I seem to be a little stuck, with no help from BMW. Sorry about the lengthy post, but I am a little put out - and a little confused about what to do!
	Appreciate 0 Tweet Quote

08-15-2006, 08:28 AM	#2
ALPINE6SPD Lieutenant General 157 Rep 10,411 Posts Drives: 2010 BMW 328i Sport Join Date: Dec 2005 Location: Highland Lakes NJ iTrader: (2)	sell the car. That is really all you can do. __________________ 2010 AW e90 328i: 6 speed, Black Leather, Dark Wood trim, ZPP, ZCW, ZVP,ZSP, Nav, Xenon BMW Performance CF Rear spolier and Gloss black grills 2008 Candy White MKV GTI 2.0T 6 Speed Manul Gone 2008 AW X3 3.0si: 6 speed Returned 2006 AW e90 330i: 6 speed Dinan Stage 1 Returned
	Appreciate 0 Quote

08-17-2006, 10:32 AM	#3
Redguy Second Lieutenant 20 Rep 276 Posts Drives: E90 330i SE Join Date: Feb 2006 Location: United Kingdom iTrader: (0) Garage List 2007 BMW 330i [0.00]	It's perhaps my only option!
	Appreciate 0 Quote

08-17-2006, 11:53 AM	#4
330m First Lieutenant 6 Rep 364 Posts Drives: 330i Join Date: Feb 2006 Location: Manchester iTrader: (0)	Think so. We might all be in the EU, but as far as cars & loans you might as well be in Timbuctoo. Mine's on the Select (hire purchase) agreement, and as the car isn't yours until you've paid for it all, it would be difficult for BMW finance to transfer their asset (the car) to a different territory in the middle of the process. Sell it back or pay someone to steal it for you! __________________ *330i M-sport* SG + black leather :rocks:
	Appreciate 0 Quote

08-19-2006, 05:48 AM	#5
Redguy Second Lieutenant 20 Rep 276 Posts Drives: E90 330i SE Join Date: Feb 2006 Location: United Kingdom iTrader: (0) Garage List 2007 BMW 330i [0.00]	Anybody want to buy an E90?!!!
	Appreciate 0 Quote

08-19-2006, 01:43 PM	#6
mjh93sa Major General 148 Rep 5,080 Posts Drives: 530d Join Date: Dec 2005 Location: Gloucestershire iTrader: (0) Garage List 2012 BMW M135i [10.00] 2011 Mini Countryma ... [5.50]	As 330m states, it's probably because the agreement is with BMW Financial Services (GB) and they don't want a car that they still have legal title to leaving the country as I guess there could be all sorts of legal complications. Depending on your circumstances it might be worth looking at some other sort of finance package that would allow you to keep the car and then take it to Ireland. Or failing that to at least change cars before you go as there was a post some time ago when BMW introduced the 316 to Ireland bemoaning the extremely high taxation on new cars over there. http://www.e90post.com/forums/showth...&highlight=316 __________________ Gone: Fiesta - Focus - E46 320dSE - E91 330dMSport - E82 135iMSport - R55 JCW Clubman - M135i Now: 530d
	Appreciate 0 Quote