jschiller

For those members that have purchased their car out of state...how did you close the deal? I am looking at several cars that are a thousand miles or more away from me and I am wondering what is the best way to close the deal after the purchase has been agreed on. I won't be traveling to pickup the car in person since I don't want to drive an unknown quantity 1000 miles back to my home. So I will use a transport service. But what is the best way to exchange the purchase money for the title? Ask for the title before I send the money? Send the money first and trust that there will be a car to load on the transporter when it gets there? I will get a PPI of course but I have no way to ensure the car is delivered if I send the money first. Do you use an escrow service?

How did you do it?

MrAngry

Have you inspected the car in person?

XS29L9B

alex70

Here is one example. https://www.escrow.com/cars

I have not used them but maybe also your bank/credit union can assist with an alternate escrow company.

jschiller

No, I have not looked at either car in person. I suppose the safest method is to examine the car in person, watch it get loaded on the transporter and exchange the funds and title then.

Maybe holding out for a car more local to me is a better choice.

placer

These transactions can work, but you need to be careful. I sold a 911 a couple years ago to a guy in Texas. We spoke a few times on the phone. He felt good enough about it to wire the money into my account (it was a hot car at the time with other people in line to buy it). He sent a transport company to pick it up along with the title. As I write this, I also remember selling an Alfa the same way. They were happy with the outcome, but I am an honest person.

Bottom line is it comes down to whether you trust the seller, is it a good price in case it is not all that it seems, and gut feel.

There are many good people on this board who would probably like to give the car a once-over for you if they are local to the car, just to rule out any big deal-breaking items. Of course, nothing takes the place of a PPI from a reputable shop.

Good luck.

Wisconsin Joe

I've heard this called a "Rennfax".

It's not a full PPI, but it's a way to establish that the car actually exists and isn't horribly misrepresented.

But, for a car of this type, and for the money you are likely spending, isn't it worth at least a weekend, a plane ticket and a hotel room?

See if the owner will pick you up at the airport. Then you get to see & drive the car, get a 'feel' for the seller and agree on the deal.

z driver 88t

I've bought two cars out of state, including my 928. I did not see either car in person before the purchase. I first had the owner mail me a CD (this was before the days of DropBox) with a LOT of high res photos from every angle including under the car. I also had him send me the full maintenance history he had. Once I had a level of comfort I paid for a local shop to do a PPI. Part of it has to do with the rapport you develop with the current owner. The previous owner of my 928 was meticulous with his stuff. You could tell in the detail of his records, the photos of the car in his garage, etc. Every receipt was in a separate plastic sleeve inside a 3-ring binder. He was the kind of person you wanted to buy a car from because you could just tell it was well taken care of.

For travel, one one purchase in Texas i flew one way there and drove 1,000 miles back to FL. My 928 was only about 500 miles away in North Carolina so I drove a rental car one-way, dropped it off and drove the 928 back to FL.

For payment I brought a cashiers check from my bank BUT there has been a spike in counterfeit checks like that. So I made sure to arrive at a time when his bank was open. We took the check to his bank and they called my bank to confirm it was real and made out in the correct amount. At that time the seller signed over the title to me and I drove away with the car.

Both times I was very happy with the purchase, but also both times I bought from "car guys", meaning people who were intimately knowledgeable with the details of the car to the point where they could answer just about any technical question I asked. I can't say I would do the same type of transaction form a Craigslist ad that had limited details or an owner that just did not give me a really good vibe.

GT6ixer

I purchased two cars in the last 3 years long distance and sight unseen. Both were relatively "cheap" so in case I got burned it wouldn't hurt too bad. The first was my 928. This purchase went through a company that was running an online estate auction. The second was my W12 Phaeton which went through eBay. In the first case I made the purchase with my CC. If for some reason the car or paperwork wasn't delivered I would have just had VISA battle it out to get "their" money back. On the eBay purchase I sent a cashiers check. I had the seller send me the signed title and Bill of Sale before sending the check however. That way we both had a little stake. He had my $500 deposit through eBay and he had the car. And I had the title. Of course we spoke on the phone a few times before all this happened. Talking to the owner at least gives you a clue if he sounds legit or not. Sure they could be con artist, but all you can really do is limit your own risk to the degree that you feel comfortable.

BIMMERMIKE

Why not have a member view and provide feedback?

XS29L9B

On the last car I sold, which was for high 5 figures, the guy was from overseas and used a US-based broker who didn't follow directions. I was clear, car leaves when money clears. So the broker deposited a check (vs. the wire transfer) and we had to wait 10 business days. Adding a holiday in the mix, meant 1/2 a month went past before I would release the car. Guy was fine in the end, but anxious as he felt I 'held" his money up in the process. That, until it was explained the "service" he used, helped to hold up the transaction.

On the other hand, another car I looked at, we agreed on a price, but he'd only take cash. I was already home, over 1,000 miles away and not willing to fly back a second time to fork over greenbacks. Anyways, I sent the wire transfer (guy felt I could rescind one, which is goofy) and a truck, and told him to hold the title until the money cleared. Knowing it was going to clear the next day, I was fine with that, and in the end, so was he. Such an easy deal, he offered to sell me another car. LOL.

dr bob

I've acted as distant-buyer's agent in a few sales over the years, providing a cosmetic inspection, sometimes coordinating the money, title transfer and the carrier pick-up. I'm sure other members here would be willing to do that for a fellow 'lister. Post a location/area where your target car lives and perhaps someone will step up.

Mrspencer

first off before you ship the car insure the car, I purchased my 928 from new York, I'm in .ca, purchased through eBay, several pics and a ton of service records,
do your homework on the transporters, DONT USE RITEWAY WHEELS TRANSPORTATION.rember insure the car before it gets on the transporter.

buccicone

I bought both my GT & GTS out of state (both coincidentally in Virginia). The GT I flew out to see. I almost walked away from it after seeing the flaws in the paint (seller was not forthcoming with pictures I requested). Driving it changed my mind and the seller took my low ball offer. Photos of black cars are misleading. The GTS was at Frenzy last year and I saw it in person and got opinions from many of you. I have to see what I'm buying.

928 GT R

I have closed deals in many ways over the years. My favorite has been handing over a fat stack of greenies as a "here you go" deal. When sellers see the cash in hand it is hard to resist.

In todays market that is not so easy because the cars are worth so much more and strolling around with $50-150k in hand to buy a car is not practical.

My last three purchases of 928's involved:

1. A known seller who knew me and I simply wrote him a personal check (this required a great seller and buyer).

2. A knowledgeable seller who accepted a certified check as payment (without verification) simply based on my well established credibility.

3. This purchase went south because the seller demanded that my certified check funds be verified "in his account" before releasing the car. This seller was a credible Rennlister with a really cool car but he had lots of "stories" regarding both the car he was selling and its service records (multi year engine rebuild, lost records, found records, paintwork revealed after the sale price was agreed on etc.) Seller stipulated that after I travel 1,100 miles to pick up the car, and hand him a Certified Check that I would have to wait there for my cashiers check to be cleared and verified in his account before he would release the car. No exceptions. Time was of the essence on my end because I was leaving for Europe and would arrive late on a Thursday. Even with my banks Vice President being willing to verify the funds being clear and available in a pre-scheduled phone call, the seller demanded that they be clear in his account. I balked and cancelled the deal.

It was interesting that the sellers lack of trust in a Certified Check caused me to ask more questions of him and determine that the risk-reward of the transaction was not acceptable.