Tigran Petrosyan v. BMW Financial Services NA, LLC
Opinion
Trial Court Opinion
I. Background
Plaintiff Tigran Petrosyan leased a 2019 BMW M850i xDrive Coupe (the “Vehicle”) from Defendants BMW Financial Services NA, LLC (“BMW”) and Shelly Automotive, LLC (“Shelly”). Complaint (“Compl.”) (Dkt. 1-1) at 1. Plaintiff alleges that Defendants induced them to enter into a lease. Id. The lease stated that in the event of a total loss, Defendant BMW could collect the insurance payment. Id. Defendants assured Plaintiff that the financial obligation in the lease would not “exceed the down payment, monthly payments, and the lease end fee.” Id. Based on this assurance, Plaintiff believed they could purchase the Vehicle at any time for the remaining balance on the lease account, and also keep any value above that balance as equity. Id. The Vehicle was deemed a total loss after a collision, and Defendants claimed they had to collect the payments issued from the insurance company. Id. Plaintiff continued making payments after the total loss to maintain his credit history, while Defendants refused to return the payments to Plaintiff.