Hahn Rechtsanwälte PartG mbB
Hamburg (ots)
Following a recent decision by the European Court of Justice of September 9, 2021, the Regional Court of Augsburg in its judgment of February 21, 2022 – 112 O 1895/21 – determined that the loan agreements of BMW Bank GmbH do not meet the legal requirements and the deadline not set in motion to exercise the consumer’s right of withdrawal. An owner of a BMW M550d xDrive represented by HAHN Rechtsanwälte had sued. At the end of 2019, he concluded a loan agreement with the BMW Bank for EUR 37,480.00 to partially finance the purchase of the vehicle. Citing errors in the contract documents, he declared the revocation in May 2020. Since the bank did not want to accept the validity of the declared revocation, a legal dispute ensued before the district court of Augsburg.
To justify its decision, the district court stated that the plaintiff could successfully claim that the cancellation period did not start due to incorrect mandatory information. The plaintiff did not act in an abusive manner with his request for rescission. The court finds that the plaintiff is no longer obliged to pay interest and to make repayments due to the effective revocation. “The legal consequences of the effective revocation are not only the rescission of the loan agreement, but also of the purchase contract for the financed vehicle,” says Hamburg lawyer Christian Rugen from HAHN Rechtsanwälte. “The reversal of the loan agreement and at the same time the reversal of the purchase contract usually lead to economic advantages in the four-digit range,” explains lawyer Rugen.
HAHN Rechtsanwälte currently offers free and non-binding reviews with regard to the possibility of revoking vehicle financing from BMW Bank GmbH, Volkswagen Bank GmbH, Santander Consumer Bank AG or, for example, Mercedes-Benz Bank AG. The free advice also includes a forecast of the benefits that can be achieved from a declared revocation of the car loan.
Press contact:
Hahn Rechtsanwälte PartG mbB
RA Christian Rugen
Old stone path 1
20459 Hamburg
Phone: + 49-40-3615720
Fax: +49-40-361572361
Email: [email protected]
Original content from: Hahn Rechtsanwälte PartG mbB, transmitted by news aktuell
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