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Report: #330920

Complaint Review: Auto Management Group - Mike Pham As President - Newport Beach California

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  • Reported By: San Diego California
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  • Auto Management Group - Mike Pham As President 2549B Eastbluff Drive, #444 Newport Beach, California U.S.A.

Auto Management Group - Mike Pham As President Vehicle Management Group, Mike Pham BMW was repo due to Mike Pham not paying BMW Financial as agreed Newport Beach California

*Consumer Suggestion: AMG: The Truth be Told

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Back in June 07, I found a posting on craigslist to assume leases of automobiles. So I emailed AutoManagement Group and was emailed an inventory of cars that were available.

I chose the 2007 BMW 328i and agreed to pay the $5000 down for the vehicle. Mike Pham made an arrangement for me to give him the certified check from my bank up delivery of the car. So late June, the car was delivered to me. The car arrived by a driver and poor condition. But I was so happy to have the car, I didnt complain.

During the year of driving the car, I was directed by Mike Pham to make my car payments of $738 directly to his bank account at Wells Fargo. And like clockwork, I paid every payment on time on the 15th of the month even though i was due on the 19th. And I have receipts to prove every payment.

Then on April 21st, I received an email from BMW Financial. I have NO idea how BMW got my information. I guess they tracked it down with my car insurance information. The car was still registered in the original owners name. So that should have been a clue something fishy was going on.

BMW Financial explained to me that the original owner sublease the car to Mike Pham. Which subleasing is against the law in California. And not allowed by BMW. Then also, Mike Pham made the first payments. Then stop making payments 5 months ago. And was basically pocketing my payments and not paying BMW Financial.

Needless to say, BMW repo the car. So I'm out of $5000, the money I paid for the car, and a little self respect.

I called several attorneys and they are telling me I should take Mike Pham to small claims courts. But Im sure he's escaped the city. He's not answering any of my calls or emails.

So if anyone has any legal guidance. PLEASE let me know. I just want my money back!

Bmw ripoff
San Diego, California

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#1 Consumer Suggestion

AMG: The Truth be Told

AUTHOR: Skiptracing101 - (U.S.A.)

POSTED: Tuesday, May 26, 2009

Sub-leasing is very risky business and should be avoided at all costs, not to say that a select few are saved from some credit damage by doing so when dealing with both honest seller and honest buyer, but the latter like what happend here is probably a 50/50 shot.

I work with several of the above mentioned companies daily and come across this situation more often than you would likely care to know (or I am allowed to state). No matter how carefully or fully you feel like you have investigated a person or company prior to dealing with them doesn't mean that their true colors won't come out during your lease period.

Larger companies like this however are not the #1 offender, individuals abusing foreign resident information to purchase veh leases and sell to unsuspecting parties is a more common practice (from my experience). They normally operate out of a respectable dealership but the transactions themselves are done privately.
In a close second is foreigners themselves pocketing as much money as possible from flipping houses and letting them foreclose after (another big scam hurting california) all the while subleasing a veh that is likely already in repo status for the months leading to their permanent return back home.

If you intend to sublease: Contact the original lein-holder be sure they have the legal rights and obtained permission to do so. Make sure the leasing party agrees to allow you to make payments direct to the lein-holder, in this manner you atleast know the money is going where it was meant to.

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