relocating to CA

[scheps]

Hey guys,

Was hoping for some advice if you can spare a moment. As you can see i have been a member of this forum for a while but previous e90 as that was what i had.

However, now i am Looking to buy a X5 -35d vs petrol and after some expert advice as i am moving to CA due to work.

Really don't want to spend more than 50k if can help it...
Wont have a credit history

1. which dealer around CA would you recommend for a good deal?
2. how much would you expect to get off the MSRP
3. I assume i will have to buy outright with cash etc as i dont have a credit history, therefore, I was wondering what % of the car price can i pay with credit card?
4. Any suggestions for insurance company (key words will be sufficiently helpful) and i can google them
5. Is the servicing really free for the first 4 years of ownership of the car?
6. would you recommend second hand ?

I know that's asking a lot but thanks for your help

p.s. If anyone is moving to Australia, i can at least reciprocate the favour.

Scheps

[morgandc]

If you debt to income ratio is ok, and you credit history is neutral, not bad. Start with some local credit unions.

[bmw-x6]

There are plenty of websites that will give you the invoice vs MSRP. To the best of my knowledge, it is about 7%. Check BMWUSA website for the rates to get an idea. As for the service, please check the link http://www.bmwusa.com/Standard/Conte...intenance.aspx

[scheps]

Originally Posted by morgandc

If you debt to income ratio is ok, and you credit history is neutral, not bad. Start with some local credit unions.

ah ok thanks for the tip, didnt think about local credit unions.

I have also heard that even if you open an account in that bank, dump say 500k into it as savings, I would still struggle to lease.......

Leasing would be ideal i think, as i am only there for a defined 18 months.

cheers

[scheps]

Originally Posted by bmw-x6

There are plenty of websites that will give you the invoice vs MSRP. To the best of my knowledge, it is about 7%. Check BMWUSA website for the rates to get an idea. As for the service, please check the link http://www.bmwusa.com/Standard/Conte...intenance.aspx

thanks m8, will google invoice vs msrp. So basically invoice is what they get it for? and add margin = whats realistic?

I saw that link thanks , but unless i missed it, it doesn't say once you have transfer of ownership, will the free servicing still persist.

I also looked at the "competitors" and e.g. M class - the initial owner would have to purchase it, doesnt come with like BMW!

[3s-a-charm]

Originally Posted by scheps

ah ok thanks for the tip, didnt think about local credit unions.

I have also heard that even if you open an account in that bank, dump say 500k into it as savings, I would still struggle to lease.......

Leasing would be ideal i think, as i am only there for a defined 18 months.

cheers

Not sure if it's the same in CA, but here you would likely need "established credit" meaning that if you dump money in an account it doesn't mean you have the means to service debt or that that money will last long in the account. Also, just because you get a job earning $80k/yr that you will keep it past 2-3 months. Many credit issuers will want to see a minimum employment term or other credit history. Some may take your current credit history from Australia as good enough for them - proving that you are able to earn money and pay debts. To be prepared, get letters of employment, documents showing income history, tax assessments, etc.

Good luck with your transfer.

[scheps]

Thanks 3s-a-charm,

I will be bringing the tax information for last 3 years and i have a job contract stating i will be employed for 18 months. Pity i don't currently have a BMW in Australia, otherwise i also heard i could get them to use my credit history of bmw even though on different continents!!

I guess thats probably the most i can do at this stage.

The next question will be which X5 to get? Although M class seems pretty cheap. In Oz, it is very common to get 15-20% discount on Audis. So comparing MSRP is not as meaningful. I will need to do more digging to see if that's the case as well in the states, say M class vs X5.

[ND40oz]

I'd look here if you're going to be purchasing/leasing in CA, invoice+ pricing is the way to do it. bmwconfig.com is what you can use to figure out the invoice.

[1HOT BMR]

I would look into assuming a lease and perhaps paying the whole amount left on the contract. In the case below 26x718.13 or a little over $18K for the 26 months left. Talk to BMW Financial Services and see if they would agree to this with some form of multiple security deposits or some other arrangement that they are willing to accept to let you assume the lease. I realize you are looking for an X so this is just an example:

http://www.leasetrader.com/2011_BMW_535i_179119.xhtml

This would cost you less in the end since you wouldn't have to risk losing money on the sale of the purchased used car or the heavy initial depreciation of a new car. All new BMWs X5s come with a 50K mi/48 mo warranty and maintenance included.

[bmw-x6]

Originally Posted by scheps

thanks m8, will google invoice vs msrp. So basically invoice is what they get it for? and add margin = whats realistic?

I saw that link thanks , but unless i missed it, it doesn't say once you have transfer of ownership, will the free servicing still persist.

I also looked at the "competitors" and e.g. M class - the initial owner would have to purchase it, doesnt come with like BMW!

If you are here for only 18 months, then you should consider a used 2010 BMW. I bought my X5 used with 25k on it (no-cost maintenance for another 25k or 2 years roughly) confirm with the dealer about no-cost. Good Luck

[micosilver]

Originally Posted by scheps

Hey guys,

Was hoping for some advice if you can spare a moment. As you can see i have been a member of this forum for a while but previous e90 as that was what i had.

However, now i am Looking to buy a X5 -35d vs petrol and after some expert advice as i am moving to CA due to work.

Really don't want to spend more than 50k if can help it...
Wont have a credit history

1. which dealer around CA would you recommend for a good deal?
2. how much would you expect to get off the MSRP
3. I assume i will have to buy outright with cash etc as i dont have a credit history, therefore, I was wondering what % of the car price can i pay with credit card?
4. Any suggestions for insurance company (key words will be sufficiently helpful) and i can google them
5. Is the servicing really free for the first 4 years of ownership of the car?
6. would you recommend second hand ?

I know that's asking a lot but thanks for your help

p.s. If anyone is moving to Australia, i can at least reciprocate the favour.

Scheps

1. I would recommend myself, I sold myselg a bunch of cars, and the experience was not terrible...

2. "Confidential", email me.

3. If you are moving here for a job - we have a program for foreign professionals that will allow you to lease a car without any credit history. You need to have a work letter, a visa and a Social Security card.

4. Geico is not the cheapest, but in your situation - they will be the easiest to deal with.

5. Yes, really free, including brakes.

6. In CA you have to pay about 8% sales tax on used car purchase, so if you buy a decent used X5 for let's say $40K - there is $4K gone, plus whatever you will lose on depreciation. I would go with a lease (if possible).

[scheps]

Originally Posted by ND40oz

I'd look here if you're going to be purchasing/leasing in CA, invoice+ pricing is the way to do it. bmwconfig.com is what you can use to figure out the invoice.

thanks m8, that is a very useful website. In the process of getting an idea of what the invoice + price would be.

[scheps]

Originally Posted by 1HOT BMR

I would look into assuming a lease and perhaps paying the whole amount left on the contract. In the case below 26x718.13 or a little over $18K for the 26 months left. Talk to BMW Financial Services and see if they would agree to this with some form of multiple security deposits or some other arrangement that they are willing to accept to let you assume the lease. I realize you are looking for an X so this is just an example:

http://www.leasetrader.com/2011_BMW_535i_179119.xhtml

This would cost you less in the end since you wouldn't have to risk losing money on the sale of the purchased used car or the heavy initial depreciation of a new car. All new BMWs X5s come with a 50K mi/48 mo warranty and maintenance included.

You make some excellent points there. That would be my preferred method for the reasons you have stated above. But my question is, how do you actually take over the lease, both parties return to the dealership to transfer "ownership?"

[scheps]

Originally Posted by bmw-x6

If you are here for only 18 months, then you should consider a used 2010 BMW. I bought my X5 used with 25k on it (no-cost maintenance for another 25k or 2 years roughly) confirm with the dealer about no-cost. Good Luck

Yea thats exactly my thoughts, i just need to cover my 18 months, but wasnt entirely sure if the 4 years only applies if only one owner or 4 years is 4 years regardless of how many times the car changes hands

[scheps]

Originally Posted by micosilver

1. I would recommend myself, I sold myselg a bunch of cars, and the experience was not terrible...
Where abouts are you located?
2. "Confidential", email me.
Most likely will later, because i must have an x
3. If you are moving here for a job - we have a program for foreign professionals that will allow you to lease a car without any credit history. You need to have a work letter, a visa and a Social Security card.
Will you have a lease period of 18 months? or take over lease type scenario?
4. Geico is not the cheapest, but in your situation - they will be the easiest to deal with.
Thanks, i will check that. Do you sell insurance at the dealership? because in australia they do and just underwritten by allianz etc.
5. Yes, really free, including brakes.
even if transfer of ownership in the setting of used cars?
6. In CA you have to pay about 8% sales tax on used car purchase, so if you buy a decent used X5 for let's say $40K - there is $4K gone, plus whatever you will lose on depreciation. I would go with a lease (if possible).Thats a good point. My first preference would be lease, but what type of charges or fees are associated with a lease, either up front or ongoing e.g. account maintenance etc? or that is all inclusive in the monthly charge?

..........

[scheps]

ummm i actually found out that i can get an amex CC in the states with my amex history here in oz. And with that amex CC then I will be able to get a lease