bigs

It appears that I may have a buyer for my GTS. I've been speaking with a nice gentleman in the Seattle area over the phone for a few days. He has also paid for a basic (not comprehensive) PPI from my local dealership. He plans to fly in to SLC this coming Saturday to see the car.

He is obviously a car guy. He has a Lotus, a Ferrari, a Jag, and an NSX (he may have mentioned another car, but I can't recall...). And here's the funny part: Every one of his cars are red with a tan interior!

So, with a possible sale in mind, I have a few questions regarding what might be termed "car seller/buyer etiquette:"

1. My preference would be for me to actually do the driving of the car when we meet Saturday. I know the car, I know how to demonstrate the quirks of the 928 A/T and kickdown switch (he has never owned a 928), I'm very familiar with the car's capabilities, and I know the local roads.

I'm kinda hesitant to let a potential buyer do any spirited driving of a "limited number" performance car until he actually purchases it and owns it. Then he can do whatever he wishes. Although perhaps after a "demo" ride, I can let him drive the car back to his hotel on the freeway.

Am I violating an unwritten law of selling a car if I do all or most of the driving? What say you?

2. If he decides to buy the car, what is the best manner in which to finalize the transaction? I had presumed to ask for a cashier's check from a well-known bank, give him the car when he gives me the check, but hold the title until the check clears - then FedEx him the title. (I own the car free and clear.)

Thoughts?

Thanks.

SQLGuy

I think that if he's serious enough to fly out to look at the car, he's probably going to want to drive it. I certainly would want to.

pcar928fan

You do what YOU are comfortable with! I never give a potential car a FULL BOOT when I drive it and I ALWAYS want the owner with me! Now if the OWNER wants to wring it out a bit...I am more than happy to sit in the right seat and enjoy that experience! Chances are I am a better driver but he does not need to know that and I try not to rub it in...

If he buys the car GET CASH or get a cashiers check that can be CONFIRMED at your local bank BEFORE you sign over the title and hand off the keys! Since most of my cars end up being bought for me by someone else I usually send that person a check (of some kind) and let them take cash to the owner. That way there are NO QUESTIONS! I also be sure they take the 130U form from the State of TX for the previous owner to sign along w/ the title so that I can transfer ownership to me easily w/o having to hassle them again for info.

YMMV!

Chuck Z

I have bought and sold 60+ cars in the past 18 years and have my way of handling the transaction but ultimately you have to do what makes you feel comfortable.

I would take him for a drive with you driving and demonstrate the kick down and tell/show him any other quirks you think he should know about. THEN, let him drive it with you riding shotgun.

If you do not let him drive it where and how he wants to he's likely to think you're hiding something or that you're worried it will break..... I know how you feel; I had a local guy who wanted to see an E55 wagon I had for sale. He acted really interested and wanted to see it right away. We went for a ride with him driving and he pushed it a little harder than perhaps I would have and it pi$$ed me off especially since he never did buy the car...... I will make sure the next time we have an agreement that if everything checks out on the test drive the buyer is going to buy the car! I doubt somebody flying in from out of town is not serious though.

No, but like I said above, he might think you're hiding something.

That's one option but I always require a wire transfer and hold the car/title until the wire is in my account. Checks are easily faked (even cashiers checks) and might take a while for the bank to catch it. Even if the $ show up in your account and afterwards the check turns out to be bogus the bank will deduct it from your account. Wire transfer is the safest. I always require a wire and if the buyer is not willing I will not sell the car to them......

mj1pate

A lot of wisdom in the previous responses. I would let him drive with the caveats mentioned above. If you choose not to let him drive, it will likely pi$$ him off unless he's advised before he flys out. I would have no reserve in advising a potential buyer what is permitted and what is not permitted before they take the wheel and legal possession.

AO

Since he's flying in, there is no collateral for you to hold while he drives the car. He says he does, but you don't know. I would ride with him, but not let him drive it solo.

I like your option to handle payment, but I'd ask for $5k cash minimum.

Mike Frye

Hey Bigs,

Congrats on the potential sale. I'm sure it will be a smooth transaction.

I agree with the above, I would take him out with you driving so you can explain the kickdown and any other items you'd like to talk about. You could possibly end up in an area where you feel like he'd be OK to drive it and if he's interested, let him drive with you riding shotgun for a while. This will give you a little while to talk to him also, and if you get any kind of hinky feelings you can tell him that there are additional stipulations (where to drive/ speed limit/ whatever).

He's going to want to drive it. But until it's sold it's your car, so no reason to make yourself uncomfortable. It's hard, but buying and selling a car needs to be a transaction with no emotions. If it doesn't make good sense to you, you need to be willing to walk away regardless of how far he traveled or how long it's been on the market.

Landseer

You probably have a banking relationship locally. See if they will help you with the title signing, maybe notarize a bill of sale, and maybe make a wire transfer.

sweet928

I would let him drive it. I would never buy a car I didn't drive. Let alone one I didn't see first hand. He's flying in so he's gonna want to drive it.

I only take cash. (We're not talking about a suitcase full of money.) I would never wire money to anyone's account nor would I wait for a title. I hand you the cash you hand me the keys and the title. No cleaner transaction then that. One time I went to the guys bank with him and cashed his check with him and then with cash in hand - I gave him the title.

docmirror

Chuck hit the high spots well. He's a car nut, if he respects you and the car, he won't go stupid on the test drive. Ride along after your demo, and keep quiet unless he asks something specific.

As for payment, it's a cast iron rule. Car doesn't leave until the cash is in hand. If he gives you a check of any kind, it has to clear before the car leaves your hand. Wire transfers are best, cashiers check is a distant second.

bigs

Just to clarify - I have no reason to have any suspicion regarding the potential buyer. He seems like a very upfront and honorable guy. Even if he didn't know about Rennlist!

kccampro

Until he owns it, there is no 'spirited driving' on his part. The purpose of a test drive is first and foremost to ensure there is nothing wrong with the vehicle – not to let a potential buyer determine if he/she likes the way a 928 feels at high speeds. Let him drive the car with you in it, and make sure he respects the car. Unlike Pottery Barn, he doesn't buy it if he breaks it. I realize that when you’re trying to close a sale you want to be accommodating, but if this is a deal breaker he’s probably not a legitimate buyer… and Ferrari / NSX Owners are just as likely as anyone to have a mishap when driving your car for a number of reasons.

As for the transaction, wire transfers are the best. But if that’s not an option you need a Cashiers check from a well known bank… this is the way real estate is transacted because a cashiers check is essentially cash backed by a the bank. This is very different from a certified check which only means the buyer has the funds but doesn't protect you from the buyer stopping payment AFTER he has the car. Best of luck with the sale.

RKD in OKC

Show him how it drives, then let him drive it. When I sold my 90 GT a guy flew in to buy the car. Spent the night at my house because he planned to drive the car home from OKC to MA. He refused driving the car until it was his. After the money and title transfer was over he followed me to a local dyno and we dynoed the car, he thought that was pretty cool.

When I bought that 90 GT from Jarrod, we swapped keys when I showed up to look at the car. While I was test driving the 90 GT, he was out flogging my 89 951S.

I went to Dallas to look at a car. The seller only let me drive it in his neighborhood. I was a bit puzzled until he took me out in 5 o'clock traffic and scared the crap out of me zipping through traffic jams at triple digit speeds.

When I sold the 90 GT we went to one of those package stores that had a fax machine. The money was transferred to my bank directly from his once they had the vin and my signature via fax. I recently bought a range rover long distance and got the title mailed to me after my personal check (what they asked for) totally cleared their bank, typically 10 days. Did not arrange transport of the Rover until I had the title. You can also ask your bank to verify the check to make sure the account exists and the funds are available.

A guy sent me a cashier's check to purchase some car stuff I had listed online. He was "in a hurry to get the stuff." I took the cashier's check to the bank and asked to have it verified. After a couple of phone calls to the bank the check was on, they refused the check. I emailed the guy that sent it telling him my bank would not take his check and never heard back from him.

Bought my GTS after only looking at pictures and phone conversations with the seller, however the seller was Michael Wilhoit.

Chuck Z

True statement however, there are likely more scam artists going after cars than houses for a couple reasons: you can drive a car away, $ amount is less and there are usually no attorneys involved. Cashiers checks can be easily faked and there is no way to completely guarantee the funds behind a cashiers check........ Wire transfer only.

James Bailey

Tell him to bring cash ! You can stop payment on a cashiers check..... he hands you cash you hand him the title. Wire transfers work great for a seller but requires a leap of faith from the buyer because he wires the money BEFORE he has the title, before he has the car but he he is willing great !.... And you MUST let him drive the car with you in it. Point out that local police are radar happy use unmarked cars and love to ticket Porsche cars. The way you sell puppy dogs is let them hold the puppy ! Also do not be offended if he tries to beat you up on the agreed price be nice friendly but firm !