Do not ever buy or lease a car from BMW of Houston North. My experience with them this week was horrible. I talked with the sales manager and we agreed on a price for a car and that I would be leasing it. Upon seeing the lease details, I noticed several mistakes:
They overcharged me on tax by $200. They were adamant it was correct, but they were proven wrong when they conceded and fixed the issue.
Further, I noticed that they were going to make me pay an additional $1,600 upfront as a cash “down payment” on the lease for no reason, thereby charging me more than the agreed upon price of the car.
Then, upon talking to their finance department, I noticed that they were going to charge me additional interest (money factor). BMW sets the rate at 3.62% (0.00151 x 2400) and they were going to charge me almost 1.00% more, despite having excellent credit. They wanted to make more money off the financing in addition to the sales price, and this was unacceptable to me.
Perhaps to someone who is un-sophisticated in finance, all of this garbage would work. However, with over 10 years in the investment industry and as a manager of my own hedge fund, this is insulting to me. I asked them one more time to address all of these issues and to send me a copy of the lease contract to review. As of right now, they have not responded, or are intentionally ignoring me.
The people that I worked with who were involved are: Barbara Angelopoulos (sales manager), Ed Steinberg (client advisor), Steven Cook (sales director), and Nick Butuc (general manager). In addition, there were two other finance department representatives whose names I unfortunately do not recall. Please avoid working with this group of people and the dealership in the future.
At best, the members of BMW of Houston North are incompetent, un-communicative, and passive-aggressive. At worst, they are liars with no moral or ethical compass and are unaccountable for their actions. They poorly reflect the values and reputation of the BMW brand.