First time buyer

[Anonymous]

My brother in law is looking to finance a new or used BMW.  His job just transferred him to southern California 6 months ago from another country.  He has absolutely no credit here in the states, has been with the same company over a year, makes about $4000/month before taxes and his rent is $700.  He has no debt, no credit cards, no loans...nothing, but does have about $5000 that he can put down.

What are his options or where should he start looking?  I've heard that it'll be hard to find a place that'll finance him because of his lack of credit as well being in the states a short time.  Any ideas how much he'd qualify for?

[Anonymous]

Your BIL will need to get a "letter of intent" from his employer that basically spells out his job and income and the promise of stability in his income.

He will have to work with a dealership's finance department and his HR department to have all the necessary documents for submission for financing.

it can be done

There are hoops that have to be jumped through.