I purchased a 2024 BMW X5 xDrive40i in California and financed it through BMW Financial Services. After moving to New York, I registered the car here with NY plates. Because California is a title-holding state, BMWFS held the physical CA title the entire time, so I never received a NY title in my name.
I recently tried to get a NY title by submitting an MV-82TON to NY DMV. BMWFS mailed the CA title to NY DMV, but the application was rejected. NY DMV's reasoning is that they can't issue a title in my name until the BMWFS lien is fully released, meaning the loan has to be paid off first.
Now I'm trying to trade the vehicle in toward a new 2026 X5 at a NY-based BMW dealer. The dealer is saying they need a NY title in my name before they can accept the trade-in.
From what I've researched, NY law doesn't actually require a NY title for a dealer to process a trade-in. The CA title signed over by BMWFS after payoff should be sufficient, and the dealer should be able to handle the BMWFS payoff as part of the transaction.
A few questions:
- Has anyone been in a similar situation with an out-of-state title and a NY dealer?
- Is the dealer's requirement for a NY title a hard policy, or is this something that can be worked around with the right F&I person?
- Any experience with BMWFS's payoff and lien release timeline when a dealer handles it as part of a trade-in?
- Any other advice on how to navigate this?
New car is slotted for Week 25 production so I'm on a bit of a timeline. Appreciate any help!
