BMWs are great cars, but do not get them from this dealer. They use deceptive practices, provide false information (i.e. Lie) to get people into their cars, cheating them out of thousands of dollars. To summarize, I had purchased a BMW 328i back in July 2008 from Crevier BMW in Orange County. Paul Liboon was the sales associate with Dino (sp?) and Jim Hutton were representing BMW Financial Services. I indicated two crucial needs to the people present if I was to purchase a new BMW from them:

1. I wanted a low monthly payment, like the first BMW, which I had obtained through a lease swap

2. I had clearly indicated my intention to swap out of this vehicle after 1.5 – 2 years, given the likely hood of a career related move out of the country

On the night were discussing the deal, I very specifically asked the financial services representative present whether, under this balloon payment scheme, I could swap out of the payments with the assumer taking on the same monthly payments. I had taken over the lease on my first BMW in similar fashion. The answer I received from the financial services rep on hand was a resounding. They indicated that even though I was the owner of this vehicle, someone else could assume the payments at the same monthly cost.

Now, I have finally found someone to take over the monthly payments for the remainder of the term. However, I called BMW Financial Services today and to my shock and dismay, they are stating that the person assuming the payments from me would have to pay more (and they haven’t even run that person’s credit). In addition, they indicate that even under the best credit scenario, monthly payments would go up to at least $630 – $650/month.

Given how hard it has been to find someone to pay $499.99, it will be practically impossible to find someone to pay $630 – $650/mo, putting me in a dire financial situation with this car. This increase in payment from transferring the loan is contrary to what I was told when we were discussing my purchase of the vehicle. If I had been given indication that transferring/swapping out of this payment scheme would require the assumer to make higher payments, I would not have bought the vehicle, knowing that I would need to swap out of it in a couple of years.