Notices
991
Sponsored by:

Bank needs to see the car Im purchasing

 
Old 05-16-2018, 07:30 PM
  #16  
subshooter
Addict
Rennlist Member
 
subshooter's Avatar
 
Join Date: Jan 2016
Location: New Orleans, LA (NOLA)
Posts: 2,615
Default

Facetime them. I did this with my home insurance company for a water leak I had in the house. Works great.

I also just put a contract on a house that my wife picked out sight unseen (other than pics on realtor.com)......facetimed her from 1200 miles away so that she could see the whole thing instead of just looking at pictures.

It's live so your bank can ask you questions and direct your camera view.
subshooter is offline  
Old 05-16-2018, 07:36 PM
  #17  
911sccab
User
 
911sccab's Avatar
 
Join Date: Sep 2001
Posts: 373
Default

Originally Posted by subshooter View Post
Facetime them. I did this with my home insurance company for a water leak I had in the house. Works great.

I also just put a contract on a house that my wife picked out sight unseen (other than pics on realtor.com)......facetimed her from 1200 miles away so that she could see the whole thing instead of just looking at pictures.

It's live so your bank can ask you questions and direct your camera view.
Brilliant!
911sccab is offline  
Old 05-16-2018, 07:41 PM
  #18  
pitt911
Addict
Rennlist Member
 
Join Date: Jun 2014
Location: pittsburgh
Posts: 973
Default

Notary requirement is getting more popular secondary to increase identity theft, so despite the fact it is annoying, we all should be happy that someone is paying attention, and taking extra steps to protect us
pitt911 is offline  
Old 05-16-2018, 07:53 PM
  #19  
vodkag
User
 
vodkag's Avatar
 
Join Date: Oct 2016
Location: So Cali
Posts: 529
Default

Nope, but they wouldnt finance an out of state vehicle. My other car was an Oregon plate but a CA car. So i had to buy the car all cash wait for a CA pink slip and then refi with them.

the rate is the same, just need to pay it all up front
vodkag is offline  
Old 05-16-2018, 07:54 PM
  #20  
Outlaw
User
 
Join Date: Aug 2016
Posts: 467
Default

Go to pentagon federal credit union online. Great service and rates.
Outlaw is offline  
Old 05-16-2018, 08:39 PM
  #21  
Needsdecaf
Addict
Rennlist Member
 
Needsdecaf's Avatar
 
Join Date: Jan 2013
Location: The Woodlands, TX.
Posts: 4,168
Default

I've purchased quite a number of cars out of state, never an issue. Suspect that USAA, not having very many actual branches and dealing with people all over the place is used to it.

I bought the 911 1,200 Miles away sight unseen and had zero issues with getting the check.
Needsdecaf is offline  
Old 05-16-2018, 08:51 PM
  #22  
Marc Jannone
Addict
Rennlist Member
 
Join Date: Feb 2006
Location: Los Angeles
Posts: 150
Default

PenFed CU (Pentagon Federal CU) is fantastic. I just purchased a Carrera and the process took 8 minutes online. They overnighted me a check that was written to me and the seller. I signed the back, gave it to the seller and drove home. Couldn't have been easier.
Marc Jannone is offline  
Old 05-17-2018, 04:02 PM
  #23  
jungkim1234
User
 
jungkim1234's Avatar
 
Join Date: Oct 2017
Location: Oregon
Posts: 98
Default

I'm and OR resident and bought a car from Los Angeles. The CU I was trying to finance through wouldn't do it for a private party out of state sale without them visually inspecting it. Fair enough. I just went to another bank that would and then immediately refinanced with the CU with the move favorable rate. A bit of a pain, but if they want to play games, play it.
jungkim1234 is offline  
Old 05-17-2018, 04:12 PM
  #24  
Outlaw
User
 
Join Date: Aug 2016
Posts: 467
Default

Originally Posted by Marc Jannone View Post
PenFed CU (Pentagon Federal CU) is fantastic. I just purchased a Carrera and the process took 8 minutes online. They overnighted me a check that was written to me and the seller. I signed the back, gave it to the seller and drove home. Couldn't have been easier.
my experience exactly.
Outlaw is offline  
Old 05-17-2018, 05:17 PM
  #25  
VintageRacer
User
 
VintageRacer's Avatar
 
Join Date: Sep 2005
Location: 10 year member, Atlanta
Posts: 487
Default

Have you considered not buying a car on credit? Just asking.
VintageRacer is offline  
Old 05-17-2018, 06:44 PM
  #26  
Needsdecaf
Addict
Rennlist Member
 
Needsdecaf's Avatar
 
Join Date: Jan 2013
Location: The Woodlands, TX.
Posts: 4,168
Default

Originally Posted by VintageRacer
Have you considered not buying a car on credit? Just asking.
Why ask this question?
Needsdecaf is offline  
Old 05-17-2018, 06:48 PM
  #27  
mwjackson92
User
 
mwjackson92's Avatar
 
Join Date: Jan 2017
Location: San Diego, CA
Posts: 68
Default

This is why I don't bother with credit unions. Most of the ones I've seen have archaic processes and treat their customers like crap.
mwjackson92 is offline  
Old 05-17-2018, 06:59 PM
  #28  
VintageRacer
User
 
VintageRacer's Avatar
 
Join Date: Sep 2005
Location: 10 year member, Atlanta
Posts: 487
Default

Originally Posted by Needsdecaf View Post
Why ask this question?
It seems to me that this is not be a good financial move? I say borrowing money on a depreciating asset is not a good idea. And this one requires more steps to complete it.
VintageRacer is offline  
Old 05-18-2018, 03:24 AM
  #29  
13mit
Addict
Rennlist Member
 
13mit's Avatar
 
Join Date: Nov 2015
Location: Northern Virginia
Posts: 133
Default

Originally Posted by VintageRacer View Post
It seems to me that this is not be a good financial move? I say borrowing money on a depreciating asset is not a good idea. And this one requires more steps to complete it.
Pretty stupid thing to say. When I'm borrowing money at 2% and my cash goes into investments that are bringing me 10+%, it's a very smart move to borrow money on a depreciating asset.
13mit is offline  
Old 05-18-2018, 07:09 AM
  #30  
subshooter
Addict
Rennlist Member
 
subshooter's Avatar
 
Join Date: Jan 2016
Location: New Orleans, LA (NOLA)
Posts: 2,615
Default

Originally Posted by 13mit View Post
Pretty stupid thing to say. When I'm borrowing money at 2% and my cash goes into investments that are bringing me 10+%, it's a very smart move to borrow money on a depreciating asset.
.....but there are a couple of assumptions here:
1. You can continue to bring in 10%+ of investment income. What happens when you start losing money?
2. Cash flow is stable and positive. What happens if you lose your job?

I don't think either approach is "stupid". It's all risk based and we all have different risk tolerances and situations.
subshooter is offline  

Thread Tools
Search this Thread
Quick Reply: Bank needs to see the car Im purchasing


Contact Us - About Us - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: