BMW Financial Services Consumer Loan Complaint

BMW Financial Services Consumer loan department,

Vehicle loan Taking out the loan or lease Illinois

On -/-/- I came to a dealer of - -, - - - -, -, IL -, I purchased a car for $27000.00 a - - serial no. -. After signing the installment contract at - - the very next day which would be -/-/- I came into the dealer to exercise my right to rescind the contract within - hours of the signing this contract after I noticed that the dealer and the co-conspirator - Financial Services committed appraisal fraud. During -/-/- I came into the dealer to speak to the finance manager and informed him that I was exercising my right to rescind the loan he informed me that I could not rescind the loan because it was funded. I then insisted that the law was clear that regardless of the funding I had - hours by state law to rescind the contract they then started harassing me regarding rescinding the contract and the deal and to prove that they were wrong I went to - and got an appraisal on the car that they sold me and the appraisal offer was $14000.00. I am victim of predatory lending, appraisal fraud and a victim of being denied my


that right was not available to me because the loan was funded. I then informed him that that was a violation of the law, and he ignored my request to contact management regarding the appraisal fraud and the right to rescind. I will be providing a copy of the installment contract, the retail buyers order and a copy of the - Appraisal. I also contacted - financial services, and the letter dated -/-/- they basically said they took an assignment of the contract and that is completely wrong because they funded the loan and they would not provide me a copy of the appraisal or the loan value guidelines to fund this loan. What I have here is a dealer that is violating the law and victimizing consumers and its coconspirator - Financial Services engaging in this type of consumer victimization. In their correspondence they provided me a summary of the - Used Car Guide regarding the - - adjustment values, that report on the bottom it said appraised value item - in other words they went to a website and printed a value sheet and attached it to the correspondence sheet.