Nat

First of all, I tried a search...

I have only purchased cars local to me and have never done so remotely. I need help understanding the customary process. Forgive me if this is basic stuff.

Assume the seller and I have come to an agreement and I will buy his car:

1. Do people typically send a check, use an escrow service, or do a bank-to-bank wire transfer?
   
2. Once the seller receives his funds, is there some way I can protect myself from an unscrupulous seller deciding he doesn't want to sign over the title or ship the car?

Thanks,
Nat

springer3

Private car sales are "caveat emptor" transactions. See the car, complete the inspections, and see the title before you turn over any cash. Out-of-state transactions in particular are full of scam artists.

The only way to protect yourself is to know the seller is legitimate before you start. Verify name and address. The Internet is a great place to search. Employment, membership (this list, for example), and professional licenses all can be verified by a web search.

Indycam

Where is the car ?

Nat

I am planning to have a PPI done, but seeing the title concerns me. Are private sellers usually willing to send the title prior to receiving any cash?

Nat

It's in Utah. I'm in Oregon.

Nat

If I use person-to-person financing (i.e., Capital One auto finance), it sounds as if it protects me somewhat in the transaction.

I found this paragraph online:
"Used car loans and used car financing
If you are buying a car from a private person, use the Capital One Auto Finance person-to-person loan They are the only company who finances person to person used car loans. They also provide used car loans for buying from a car dealer as well. Apply online, and get a response in 15 minutes during business hours. They FedEx you a Blank Check® so you can buy any used car from a private party without paperwork hassles. In 2004 I used Capital One Auto Finance for my Lexus GX470 car loan, and got my check the next day by FedEx. Make sure your credit score is at least 680, then as a prime borrower, and you can choose the lowest APR.

Never pay cash for a deposit on a car. If the deal goes falls through, you'll never get your cash back, but you can always dispute a credit transaction. If your credit is so bad and If you're in too deep, maybe now is not the time to buy a car."

What do you all think about that? It seems at least a little bit safer than sending him a personal check or cashier's check.

Bearclaw

I've bought a lot of cars out-of-state. In every case where it was a significant dollar amount, I flew there, took the title and completed a wire transfer. I like the escrow idea but I've never tried it.

I'm not sure about how much the Cap One check would protect you. The seller's bank will treat that check just like a cashier's check, they will float the funds until it clears, which could take a week or more even in this electronic age. There are just too many bad checks of all types floating around out there. So a prudent seller would hold onto the car until the check clears.

If you finance, they will want to hold title and yes, they would flip out if they didn't get it - but ultimately, it's YOUR named signed to the loan. It's a dilemma for sure - if you make it too complicated, this guy will just bail and sell it to somebody else. I would.

Indycam

Utah is not that far away , I think I would go there and see it in person .

vitaminC

Unfortunately, it just depends a lot on trust. If you're going through eBay, then you have a little more of a safety net, as that is considered a contract between you and the seller.

I sold a car long distance, and once the buyer sent me the funds, I mailed a bill of sale and the title to them. Then the car was shipped off and everyone was happy.

If possible, it's worth a trip out there to see it in person. If you look, you may be able to find some cheap flights...

Nat

I thought about buying a one-way ticket then driving the car back. It sounds like the safest thing to do monetarily. If for some reason the deal does not take place, I may be hitchhiking back home! I suppose a two-way ticket would be smarter, just in case.

The car has summer tires on it, so it could be sketchy driving it back since it's winter. I'll just turn on the hazards and creep along. 4 days to cover 600 miles!

YYC930

Touch feel smell.

Pretty simple formula that works every time. Fly there and check it out....then wire the money or bring a draft to pay for it. If you don't want to drive it back....take it to the Porsche dealer and pay for an oil change......and then tell them a carrier will collect it later on. You get cheap storage that is reasonably secure and 2nd party.

Your chances of getting screwed go up 95% if you do not.

User 040621

Great advice already provided - but I'll add the following: I purchased my car out-of-state....and never saw it until it was delivered. The difference: I had the PPI done by a trusted friend at his shop, and the car pick up was coordinated by a friend as well. Even with this "protection", I was still sweating bullets until the car landed. My transaction turned out to be great. If you don't have this support network - there's no substitute for touching/driving. Either way....get the PPI done by a reputable shop - before $ changes hands. Good luck!

Nat

Flying there sounds like the best choice. Thanks for the tip on the oil change; that's a great idea.

Indycam

Or rent a prius , drive over , drive back in the prius or porsche .
http://hybridreview.blogspot.com/200...-to-offer.html

MisterRisky

I bought a car in Indy and flew there on a one way ticket to pick it up and drive it back to VA. I had the seller meet me at the airport and we checked out the car. I then drove him to his office in the car and we finished the deal. I was carrying a cashier's check and I had verified his info using LexisNexis. I knew where he lived and had called him on a land line that was registered in his name. I wanted to know it was a real person and I was not going to get knocked over the head and have the check taken from me. Turns out he was a young exec at a Pharm company and really easy to track. He bought and sold vehicles about once every 6 months so it was really easy.

I do recommend doing a little info confirmation on the seller. Just to make sure they are real and traceable.

Another thing to check is whether there is a lien on the title. I am constantly amazed at the people who think a "clear title" means the car was not in a wreck. A clear title means no encumbrances, but be sure and ask specifically if they have a loan, not "is the title clear." I have had that problem multiple times.