Ownership transfer to spouse

[GZeus24]

I bought a 2023 X5 in December to take advantage of the tax credit. My wife wants to take possession of it while I get something else. Ideally, we would refinance and put the vehicle ownership and the new loan under her name. Is there any chance that BMW Finance will allow my wife to refinance the car through them with a substantial down payment and excellent credit?

Most importantly, I want to make sure that the full warranty and maintenance program transfer to her as well. I see that BMW allows a "household transfer". Has anyone done this before or have knowledge of how it works?

[Bc2005]

Is there some more complicated reason for this change?

In most states it’s very simple to add a spouse to the title, but it may generate a new title (usually not a big deal). I’m not sure about how hard it is to remove your name, but it might be a two step process (add hers, then remove yours).

Is she trying to build credit in her name, or trying to separate the vehicle from you for a business reason? The change to a loan with BMW finance is completely separate from the state title transfer. Two different entities to deal with.

[gqgambler]

Originally Posted by GZeus24

I bought a 2023 X5 in December to take advantage of the tax credit. My wife wants to take possession of it while I get something else. Ideally, we would refinance and put the vehicle ownership and the new loan under her name. Is there any chance that BMW Finance will allow my wife to refinance the car through them with a substantial down payment and excellent credit?

Most importantly, I want to make sure that the full warranty and maintenance program transfer to her as well. I see that BMW allows a "household transfer". Has anyone done this before or have knowledge of how it works?

I don't think BMW Finance does refinancing.
This seems very complicated for a married couple. Is there more to the story as to why you guys are looking do this? Business issues, asset protection, etc? There is no reason your wife can't just drive the car without any changes to the title or financing. Its simple to add her to the title without changing the financing in most states.

[GZeus24]

Well, you're not wrong. We got married late in life so we have always maintained some independence on finances. It goes back to not wanting to pay for each others vices - she likes shiny new cars every few years and I was driving a 2014 until December. Meanwhile, she didn't have to worry how much my new hunting bow cost or anything else about what I was spending 'my' money on. It's not for everyone but it works for us. She would probably be better refinancing with her usual bank anyway.

Our main concern is that the warranty and maintenance contract can be transferred to her. Does BMW do that?

[DanG]

Originally Posted by GZeus24

Well, you're not wrong. We got married late in life so we have always maintained some independence on finances. It goes back to not wanting to pay for each others vices - she likes shiny new cars every few years and I was driving a 2014 until December. Meanwhile, she didn't have to worry how much my new hunting bow cost or anything else about what I was spending 'my' money on. It's not for everyone but it works for us. She would probably be better refinancing with her usual bank anyway.

Our main concern is that the warranty and maintenance contract can be transferred to her. Does BMW do that?

Warranty transfers with the car. Most dealers will transfer the maintenance for a $50 fee.

[SpeedyATL]

Originally Posted by DanG

Warranty transfers with the car. Most dealers will transfer the maintenance for a $50 fee.

I've never seen the $50 fee for the Free Service "refresh". I was recently quote $1,100 for the refresh which was obviously a rip by the Montgomery BMW dealership when I was considering a used car at one of their sister stealerships.

Nope, I did ask to confirm that this $1,100 was just for the name change in the system (refresh).

Christine Newman (CNewman@SteveThomasBMW.com) will do it for $100 FYI.

[LogicalApex]

Originally Posted by GZeus24

Well, you're not wrong. We got married late in life so we have always maintained some independence on finances. It goes back to not wanting to pay for each others vices - she likes shiny new cars every few years and I was driving a 2014 until December. Meanwhile, she didn't have to worry how much my new hunting bow cost or anything else about what I was spending 'my' money on. It's not for everyone but it works for us. She would probably be better refinancing with her usual bank anyway.

Our main concern is that the warranty and maintenance contract can be transferred to her. Does BMW do that?

It sounds like the easiest path would be for her to refinance the car away from BMW FS into her name and working with your bank or CU to figure out the process for this. I would then reach out to BMWNA to get details on what the “Household Transfer” is all about. As it should be free from my understanding.

The paid transfer options like “renew” and others are for people who buy the car used with no connection to the original owner to “move” the warranty and maint. to them. A money grab for BMW.