BMW dealer sold me a stolen X5!!

[mrbmwx5]

Originally Posted by torontofcfan

Just got off the phone with the dealer. They are saying it was a theft claim. not theft recovery. And they are not required to disclose this.

I am meeting them tomorrow and they are going to give me a value on the car. I will update then.

keep us update .

[torontofcfan]

Just to clarify, BMW is intrepreting "theft claim" as someone just broke into the car. as opposed to "theft recovery" would mean the car was stolen.

I dont agree with them, the claim was filed for $10,000 which is too high for personal belongings. The dealer is saying that they knew about the claim and chose not to disclose it. (who knows about the rest of their inventory)

I'm sure it would have affected the value of the car at the time I purchsed it, $60,000 car.....$10,000 claim!!

I really dont think the dealer will budge, I may have to go to the media. Good thing I have a few friends a various media outlets!

Thanks for all the advice, I will keep everyone posted.

[rayxi]

Originally Posted by torontofcfan

So I went to a Honda dealer today and they pull a carproof and tell me the car was stolen in Feb 2003 and the value has gone to hell.

Do you have a hard copy of this to show the BMW dealer?

[jayjay_dee]

nothing to add,

[torontofcfan]

Originally Posted by rayxi

Do you have a hard copy of this to show the BMW dealer?

Yes I do, I plan to visit a few other dealers and obtain additonal quotes.

[K.I.M.POSSIBLE]

Originally Posted by torontofcfan

In Oct 2004 I purchased a 2003 certified series X5 from a Toronto area BMW dealer.

I went into BMW last week to have it appraised and they lowballed me. The salesmen mentions that there is a problem, but doesn't mention anything further

So I went to a Honda dealer today and they pull a carproof and tell me the car was stolen in Feb 2003 and the value has gone to hell.

I was never told nor was it mentioned on my bill of sale that the car was stolen. (Certified series!!!) I would have never even considered buying it, because it is my family car!

I have no clue what do. Was the dealer not obligated to tell me about the history? I placed a call to the GM of the dealership and he put it on the used car manager. He didn't seem to take it serious.

Any help or suggestions would be greatly apprecitated.

Dude while I feel for you in your situation,, the Fact is, you have had this car almost 4 years.. What sis you exect on a trade regardless of the history? these cars aren;t trading for anything...since you didn't post exactly what you were qoted on the trade, Its hard to say if you wer loballed or not. a 2004 will easiy see mid to high teens on a trade on some markets.
Not trying to throw shade, but thats how it is with trades.

[blktoptrvl]

Originally Posted by K.I.M.POSSIBLE

Dude while I feel for you in your situation,, the Fact is, you have had this car almost 4 years.. What sis you exect on a trade regardless of the history? these cars aren;t trading for anything...since you didn't post exactly what you were qoted on the trade, Its hard to say if you wer loballed or not. a 2004 will easiy see mid to high teens on a trade on some markets.
Not trying to throw shade, but thats how it is with trades.

^^^
Agree.

[torontofcfan]

Originally Posted by K.I.M.POSSIBLE

Dude while I feel for you in your situation,, the Fact is, you have had this car almost 4 years.. What sis you exect on a trade regardless of the history? these cars aren;t trading for anything...since you didn't post exactly what you were qoted on the trade, Its hard to say if you wer loballed or not. a 2004 will easiy see mid to high teens on a trade on some markets.
Not trying to throw shade, but thats how it is with trades.

I completly agree with you when it comes to the present value of the car. I think everyone in Canada has or is going to feel the pinch due a decreased value.

The loss in value is something which has occured in the market and I accept it as such.

Yes it has been four years since I purchased the car, but who on earth just randomly goes an pulls history on their car. I happen to change my car every four years and it is when the discrepancy was discovered. Remember I paid a premium on a "Certified Pre owned BMW", a program BMW has to disguinsh these car's as superior than an average used car.

Your argument is akin to somebody who has discovered title fraud on their home and discovered it after four years. Because it has been four years have they not been wronged? Time is clearly not the issue.

The value of my car is dimished when compared to a similar car. Side by side a consumer wishing to purchase a BMW would clearly not purchase my X5 because of its history. At least not at the same value.

I paid $60,000 for my BMW, if there were two similar X5's side by side, and I was informed of the history I would not have purchased mine because of the history.

The dealer was aware and chose not to disclose this to me. I paid full market value, now I am having trouble getting market value because of what the dealer failed to disclose me.

[K.I.M.POSSIBLE]

Originally Posted by torontofcfan

.......Your argument is akin to somebody who has discovered title fraud on their home and discovered it after four years. Because it has been four years have they not been wronged? Time is clearly not the issue.

The value of my car is dimished when compared to a similar car. Side by side a consumer wishing to purchase a BMW would clearly not purchase my X5 because of its history. At least not at the same value.

I paid $60,000 for my BMW, if there were two similar X5's side by side, and I was informed of the history I would not have purchased mine because of the history.

The dealer was aware and chose not to disclose this to me. I paid full market value, now I am having trouble getting market value because of what the dealer failed to disclose me.

Title fraud is avoided by getting a title ins policy when you purchase a home. Thats almost standard here in the US. Just like CARFAX. Certified or not, you put your trust in a car dealer instead of going the extra step an at least requesting the history of your vehicle from your seller or getting one yourself.

I'm feeling your pain here, but let's be realistic. You will never get market value for your car even of the history was squeeky clean on a trade. Thats just the facts. On the open market you are only looking at the low 20's for a 2004 which is a fraction of what you paid for it. Thats the nature of the beast.

Again I don't know what you have been offered as a result of this, so I can't really comment on that part.

Like someone said earlier.. you could get a lawyer and claim fraud.. Thats your best recourse if any...

[jammer310]

WOW...it is outrageous what people will do and say to make a buck...Sorry for your bad fortune!!!