"She admits she signed the lease credit application with her income inflated."
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"Larry directs the blame on the finance company - BMW Financial Services.

"It's up to them to look at the credit application and they will see it at face value what the customer puts on paper as to be the truth," Long said."
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"Martha McKinley, a spokesperson with BMW Financial Services, said, "We have investigated this matter internally, and we are satisfied that BMW Financial Services acted appropriately at all times during the application and credit review process." "

Gee, a situation in which there's been admitted fraud and yet nobody is at fault.

marketingmike said:NeuroSynapsis said:do178b said:My guess is that this woman suffers from fibromyalgia.

with a GF who suffers from Fibro, this comment makes me go WTF

Fibromyalgia is the archetypal malingerer's malaise. Not saying anything about your girlfriend.I was very surprised when I saw a paragraph on Wikipedia that said that fibromyalgia was a "deposition disease"... I thought that meant that it only appears in personal injury plaintiffs who are having their depositions taken.

Ecuadorgr said:No offence or anything, but I don't understand the term "disability" very well. What kind of disabilities are there were you can go around driving (a $100,000 car no less!), but are considered unable to work? I mean even driving is a profession, isn't it?Most people when they think of a disability are thinking "paraplegic". There are, however, many disabilities that wouldn't be obvious just by looking at a person.

And, yes, driving is a profession, but just because you can drive a $100k beemer doesn't mean you can drive an 18-wheeler across the country with 4 hours sleep per night.

I work for an autonation store and hang out in the finance department, we have so many people come up asking for loans that they know that they can't afford we have had people come with over 100k in cc debt alone. We have had people default on a 133 dollar payment before and take a car note at 9 years.

It's not the car dealers fault trust me before autonation sells a car 3 things happen.

1. Customer receives a menu that INCLUDES her income and her job title with the money down she agrees to term and rate+payment

2. She gets to the finance office and has a chat with a finance person he asks questions about her income, She has every right to say that is not true, no i do not make this or that no i do not want to put my life savings into a car lease. THE FINANCE AGENT IS REQUIRED TO ASK IF YOU WOULD LIKE TO LEASE OR BUY THIS CAR.

3. When she gets talked about the warranties and such BEFORE she signs any papers the agent goes over another menu about taxes fees, monthly payments, length of leases/notes, and anything else she might have a question about they spend 30-1hr per customer.

Now i've seen a lot of stupid people come thru our dealership but we have procedures about anyone financing 45k+ unless she was top tier credit they would have asked for a proof of income, but definatly they asked for an id card and insurance since in texas at least you are required to be able to provide both BEFORE taking delivery on a new car no matter if you pay in cash or anything.

stupidfool said:I work for an autonation store and hang out in the finance department, we have so many people come up asking for loans that they know that they can't afford we have had people come with over 100k in cc debt alone. We have had people default on a 133 dollar payment before and take a car note at 9 years.

It's not the car dealers fault trust me before autonation sells a car 3 things happen.

1. Customer receives a menu that INCLUDES her income and her job title with the money down she agrees to term and rate+payment


2. She gets to the finance office and has a chat with a finance person he asks questions about her income, She has every right to say that is not true, no i do not make this or that no i do not want to put my life savings into a car lease. THE FINANCE AGENT IS REQUIRED TO ASK IF YOU WOULD LIKE TO LEASE OR BUY THIS CAR.


3. When she gets talked about the warranties and such BEFORE she signs any papers the agent goes over another menu about taxes fees, monthly payments, length of leases/notes, and anything else she might have a question about they spend 30-1hr per customer.

Now i've seen a lot of stupid people come thru our dealership but we have procedures about anyone financing 45k+ unless she was top tier credit they would have asked for a proof of income, but definatly they asked for an id card and insurance since in texas at least you are required to be able to provide both BEFORE taking delivery on a new car no matter if you pay in cash or anything.just to put things in perspective... autonation doesn't do this because they care about their customers... it is because of longstanding predatory lending practices that have landed the company in legal difficulty.

I'm curious what her credit was. I just picked up a lease through BMW Finance. My middle Fico was a hair above 720 and the finance manager called me a few days later saying that BMW needed to verify my income. Suffice it to say that the lease amount was peanuts relative to my income and yet they still put me through the ringer so to speak. Her credit must have been stellar but I can't reconcile the fact that someone with such bad judgment would have such phenomenal credit. Am I alone in this?

ArbolLoco said:KevinH said:I'm curious what her credit was. I just picked up a lease through BMW Finance. My middle Fico was a hair above 720 and the finance manager called me a few days later saying that BMW needed to verify my income. Suffice it to say that the lease amount was peanuts relative to my income and yet they still put me through the ringer so to speak. Her credit must have been stellar but I can't reconcile the fact that someone with such bad judgment would have such phenomenal credit. Am I alone in this?the difference is that the dealer profit on a $100,000 car was such that they did a hail mary pass.

Good point. I beat the dealer up pretty good.

The lady might be retarded or have a brain tumor or almost anything. How can people be so judgemental about someone they don't know? Maybe she was intelligent in past years and kept her credit score up, but maybe her disability got worse and makes her do crazy things.

I would rather drive an old ford as a normal person than drive a BMW as a retarded person.

Count your blessings and be thankful you aren't her. And don't judge people till you walk a mile in their shoes.

faw169 said:I have to say this whole country is crazy. Just look at the national debt, and they are still piling on it.

We borrow a lot of money is USD (which under our control). Then we print a whole bunch of money, drive the value of the USD way down, then pay the lender with that

tonysavealot said:Lets look at the numbers:
$95'000 car (msrp is 100k, but anyone can take $5k off)

This is just close to how lease payment is calculated, but not 100% correct.


36month lease at 10k miles/yr and I would guess the trade-in value is $50k after 3 years.

With a $30k down payment, $65k financed at 12% = $650 monthly interest payment.

with $15k left to pay off= $416/month

$650+$416 = $1066/month + tax


With the terms more favorable:

trade-in value: $60k after 3 years.
65k financed at 8% = $433
$5k left to pay off = $138

= $571 (+tax) a month lease payment (sounds fair with such huge down payment)

M6 Coupe has a residual of 58% and a MF of .00255 for 15,000 miles per year. For 12,000 miles residual is 60% and for 10,000 miles residual is 61%.

With $30,000 down, her payment should have been $632.23 (10,000 miles per year). To get her payment to $1300/month the MF would have to be .0072 or so which means she was paying a 17.2% interest rate.