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The BMW Bank GmbH is a finance service and a company of the BMW Group. The company known under BMW Group Financial Services was founded in 1971 in Munich, Germany. [2] In 1973, the BMW Leasing GmbH was added – also situated in Munich. The fabricated products are BMW, MINI and Rolls-Royce Motor Cars. Worldwide BMW Group Financial Services are ...
Know the Law. The process of repossession is intrusive and frustrating and can be intimidating. The laws are murky and vary from state to state, but a court order is almost never needed for a ...
The effects of the coronavirus pandemic have been especially burdensome on auto loans borrowers. Unlike student loans and mortgages, there are no government-backed relief programs to cover a ...
Westlake Financial and its affiliate Wilshire Consumer Credit deceived borrowers into thinking they were being called by repossession companies, other third parties, or even the borrowers’ own family and friends. The Bureau also found that the companies unlawfully disclosed information about borrowers’ debts to employers, family, and friends.
The plaintiff, Dr. Ira Gore, bought a new BMW, and later discovered that the vehicle had been repainted before he bought it. Defendant BMW of North America revealed that their policy was to sell damaged cars as new if the damage could be fixed for less than 3% of the cost of the car. Dr. Gore sued, and an Alabama jury awarded $4,000 in compensatory damages (lost value of the car) and $4 ...
For example, it was reported that Wells Fargo Auto is giving repossession agencies an extra $500 per vehicle to rope in car owners who have strayed off the payment path.
Repossession, commonly referred to as repo, is a "self-help" type of action in which the party having the right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers. [1]
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