BMW Financial Services Account Terminated

[e90335e36m3]

Hoping someone had a similar issue and can provide some clarity.

I bought my M4 CS a few weeks ago with a deposit and financed the remainder of the car. Within a week I paid down $7,500, which apparently is a cap for paying through the online system. Two weeks in, I freed enough funds to payoff the remainder of the balance and sent in a cashier's check. Now, a few days later, my account shows up terminated with no indication that the car has been paid off.

Some others online have posted running into this issue, where BMW FS has terminated their accounts on leases, but not in payoff situations, just holding their money.

Has anyone had this issue? I plan on calling BMW FS today to obtain clarity.

[arciga18]

Whenever I have traded cars in and the car is paid off the account has showed terminated on their website.

I don't see the concern. They are probably working on releasing the title.., they might have the title yet from your state

[e90335e36m3]

Originally Posted by arciga18

Whenever I have traded cars in and the car is paid off the account has showed terminated on their website.

I don't see the concern. They are probably working on releasing the title.., they might have the title yet from your state

Very well, thank you for the feedback!

[superbrew]

My last 2 cars financed though BMWFS show up the same way in my account. I wouldn't worry about it. I am not sure if it has to do with paying off early, because the payment progress shows where I left off. They had no issues financing my current car.

[arciga18]

I think your plan to call is still a good one so you can discuss the next steps .

[bagekko]

The account details shown online is very wonky during a payoff and is confusing. It may show your final payment and then all of a sudden it disappears.

The $7500 max for EFT sucks for payoffs. Their payoff process is kinda broken. The instructions on their payoff form have some mistakes.

My last one, on a Wednesday I got a email saying my title was mailed. It didnt show up for over a week. BMW sealed the envelope and added postage Friday, sat in a box over the weekend the PO got it from BMW on Monday and then it showed up Thursday I think. Pulling the title from the archives wasn't the delay, my title was already pulled.

[RustySeatbelt]

You should definitely call and get them to clarify. It sounds like this might be normal, but you don't want to chance ending up in a situation where there are questions on the finance status of the car and you're not holding the title.

[e90335e36m3]

Originally Posted by bagekko

The account details shown online is very wonky during a payoff and is confusing. It may show your final payment and then all of a sudden it disappears.

The $7500 max for EFT sucks for payoffs. Their payoff process is kinda broken. The instructions on their payoff form have some mistakes.

My last one, on a Wednesday I got a email saying my title was mailed. It didnt show up for over a week. BMW sealed the envelope and added postage Friday, sat in a box over the weekend the PO got it from BMW on Monday and then it showed up Thursday I think. Pulling the title from the archives wasn't the delay, my title was already pulled.

Originally Posted by RustySeatbelt

You should definitely call and get them to clarify. It sounds like this might be normal, but you don't want to chance ending up in a situation where there are questions on the finance status of the car and you're not holding the title.

Thanks gents, fortunately I received an e-mail from BMW FS a few minutes ago that serves as payment & payoff confirmation and states that they will begin the process to release my title.

CS is mine!

[allinon72]

When I paid off my car, my account was labeled "terminated" VERY quickly. It was a little jarring. I imagined an angry German guy slamming "TERMINATE" on the keyboard.

[jmg]

One of my buybacks was labeled terminated. That's just how they close off an accounts receivable on the site.

[G35POPPEDMYCHERRY]

+1 on terminated for closed accounts

give em a call; they are usually pleasurable to speak with

[jpy1980]

Congrats! Enjoy it in good health!

[Spiderv6]

I’m going with someone making a slightly wonky German translation

Beendet means both completed and terminated. Perhaps someone translated it that way.

Just that the latter seems a bit more aggressive to our English speaking ears.

[sicck_m4]

Congrats on the payoff. Mine also had "terminated" when I paid off my 3 series.

[lukej]

Originally Posted by e90335e36m3

Thanks gents, fortunately I received an e-mail from BMW FS a few minutes ago that serves as payment & payoff confirmation and states that they will begin the process to release my title.

CS is mine!

Thats great Congrats,, there’s some peace of mind knowing it’s really yours.

Congrats again!