[Ursus]

Hi all, first off I would appreciate any recommendations/advise.

I am in the process of purchasing a used 13 from a fellow member on here. Current situation is that a bank holds lien/title to his car and he is in FL, and me in CA. I've ran the Carfax (looks good) and PPI had been scheduled within a few days from now. My question is, how do I trust a guy enough to wire this large amount of $$ to someone that I don't know??? (portion of my payment would be loan too!)

I am sure many of you will suggest flying there and taking care of everything in person, but I really can't get away at this moment. Is there another way? I called Escrow.com and they said unfortunately they cannot release the funds to the seller unless I actually receive the vehicle and approve of it, but assuming the seller need the money to obtain the title, then transferring it to me after this would not be possible. Oh the dilemma!!! What should I do? He sounds like a legit guy but it's just so much money at hand!

Any advise would help!

Alan

 

[shift7]

I'm not sure who the car is financed through, but you do have a couple options.

The shipping company might do a type of COD when they go to pick up the car. I would see if that's an option and that would work for both parties. Once the car is loaded, they pay the owner.

What I would do under this type of circumstance though, is contact the finance company. Usually the finance company has an option to assign the title to a different person on payoff. There's usually some sort of form that needs to be filled out (maybe notarized too depending on company, but usually not). This is how dealers pay off vehicles, and while they have the car that was turned into them, it's mostly the same process. Your current company that you are financing the vehicle (or portion of it) should offer some sort of assistance for this. Unless this is a personal loan, I'm not sure how they would allow your collateral to be up in the air!

Hope you get it worked out!

 

[mark896]

There has to be at least a bit of trust implied. It sucks. I sold my last two BMW's sight/unseen (?) because I FaceTime'd the individuals the car, and they simply trusted me. FaceTime also included a walk-around of the garaged cars, etc. Their banks wired the money to my bank and I promised them that the car would remained garaged until they flew to my house and picked them up. No issue.

Basically just an issue of trust, man.

 

[Dan_585]

Hi all, first off I would appreciate any recommendations/advise.

I am in the process of purchasing a used 13 from a fellow member on here. Current situation is that a bank holds lien/title to his car and he is in FL, and me in CA. I've ran the Carfax (looks good) and PPI had been scheduled within a few days from now. My question is, how do I trust a guy enough to wire this large amount of $$ to someone that I don't know??? (portion of my payment would be loan too!)

I am sure many of you will suggest flying there and taking care of everything in person, but I really can't get away at this moment. Is there another way? I called Escrow.com and they said unfortunately they cannot release the funds to the seller unless I actually receive the vehicle and approve of it, but assuming the seller need the money to obtain the title, then transferring it to me after this would not be possible. Oh the dilemma!!! What should I do? He sounds like a legit guy but it's just so much money at hand!

Any advise would help!

Alan

Have you tried paysafeescrow ? That's what i used when i purchased mine recently. They are BBB certified. I met in person beforehand though. Ended up shipping it down from Canada to NY.

Wish you luck, hope your getting a good deal!!
*Never trust anyone

 

[RAWGarage]

Fly down there to buy the car.... Then have it shipped and fly back

 

[whitedsm97]

I bought mine blindly but kept in contact with the seller thro I gh out the whole process. Got my funds and flew down to personally hand him the check and drove the car back. The seller was cool and an older gentleman. The price was to good to turn down and also other buyers were interested but he kept ties with me first as I was the first to contact him. Then put 1000 down to confirm deal. If you run Vin and get car fax and talk to the seller all should be well.

 

[SRT Evan]

There has to be at least a bit of trust implied. It sucks. I sold my last two BMW's sight/unseen (?) because I FaceTime'd the individuals the car, and they simply trusted me. FaceTime also included a walk-around of the garaged cars, etc. Their banks wired the money to my bank and I promised them that the car would remained garaged until they flew to my house and picked them up. No issue.

Basically just an issue of trust, man.

+1 bought my car from a member here and everything was legit man. i had multiple phone conversations and asked him to send me specific pictures and he gave me all of his info and it all checked out.

 

[Ursus]

Thank you all for your excellent advises. I decided to look at local sellers and not take the chance :/ I did find one, and hopefully will be a new owner soon! Thank you all!