Buying car from out of state - complications

junoman · 5th August 2005, 09:36

I just ordered my m5 from a New Jersey dealer and I am in California. The dealer said they would not be able to finance or lease the car to me since I am in California. The only way I could get the car from them is if I pay full cash upfront. I am not sure what the exact problem is, but something with the way registrations are done and that they cant register the car in CA unless I buy it and register myself. Anybody know what they are talking about or if there is any truth to this...I do not want to purchase car by paying all out of pocket.

If this doesn't work through the dealer, would another company or bank give me financing or be able to give me lease???

TOPSUPRA · 5th August 2005, 18:20

You may want to contact www.leasecompare.com if you plan on leasing but if you plan on buying Capitol One Auto Finance is also great, I have purchased a car from out of state through them and they made it very easy either one of those companies listed can help you without of state purchases. Or you may want to check with your local BMW finance manager and ask them if they can help you out with getting the car financed through BMW financial....

Rezf · 6th August 2005, 01:35

Quote:

Originally Posted by junoman

I just ordered my m5 from a New Jersey dealer and I am in California. The dealer said they would not be able to finance or lease the car to me since I am in California. The only way I could get the car from them is if I pay full cash upfront. I am not sure what the exact problem is, but something with the way registrations are done and that they cant register the car in CA unless I buy it and register myself. Anybody know what they are talking about or if there is any truth to this...I do not want to purchase car by paying all out of pocket.

If this doesn't work through the dealer, would another company or bank give me financing or be able to give me lease???

The dealer is right in that they cannot register your vehicle for you because you reside cross country. Financing or leasing should not be a problem. If the dealer claims it is a problem, then I think the dealer is buls$$ting you! I have gotten BMWs for friends and colleagues from my contacts here at local dealerships to them in Miami, Atlanta and Phoenix with no problems.
Dealer is just getting greedy with seeing $$ in front of him. They would love to ditch you and go for higher cake locally.
Leasing should be no problem. The only thing dealer needs to find out is state tax in your state. If leasing with BMW, for example, it means BMW financial is the lawful owner of the vehicle (They are in Kentucky, I think) so it shouldn't matter for the dealer. It would still be an out of state transaction for a dealer in NY.
If you are financing, then YOU should contact your preferred lender and tell them you are purchasing a vehicle from an out of state dealership. Once, dealer exchanges some signed forms with the bank and sends them the title, the bank will give you a check in the full amount of the vehicle and you can give the dealer the full amount and have them release the car.

Registering the car yourself is not complicated. Good luck

junoman · 6th August 2005, 10:48

Thanks guys! Actually it's much better that the dealer did this. I think I can get a better leasing rate elsewhere than BMW leasing. Last time they really screwed me for my '01 M5 and they said it was not possible to lease it through another company but them.

TOPSUPRA · 6th August 2005, 16:23

Actually Leasecomaapre.com so far in most cases will give you a better deal then BMW finance will. ive compared several lux cars and they beat the dealer each time....Good Luck with the purchase....

doug · 7th August 2005, 18:37

Try contacting M5manny-- he's a sales guy for JMK BMW (also in NJ). I bought my car from Manny, and was very pleased. No BS, just a very clean and pleasant transaction.