2016mwk4sporsche

Im purchasing a 911 C4S from a person in San Diego and I live in Sacramento. My Credit Union needs to see the car before they will fund the loan but they do not have a branch in San Diego. Has anyone run into this issue before. I don't think the seller will be good with driving to LA, a 2 hour drive, to show the car to the credit union. Any ideas would be helpful. Thanks, Mark

rcristobal

Maybe a PPI from a Porsche dealership would suffice their requirements.

cas1337

Not at all. My CU funded my account and I arranged a wire to the seller at a specified time at which point the PPI should have been completed. I instructed the bank to wire the funds at that time unless they heard otherwise from me. Bank asked no questions other than to make sure I had all the wire info correct as once it goes it, it doesn't come back.

daberlin

Yeah, my credit union did something similar to me. They wouldn't fund the loan for my first Porsche until I had the car smogged, because I was buying it out of state. So I basically had to pull all the cash from savings, buy the car, and then get all the paperwork in California done before the loan was approved. It was a pain for sure, but the credit union wouldn't budge.

go.illini

Never heard of that. In my experience credit unions tend to be more cautious but nothing at that level. Could it be that they do almost zero loan business in this price/type of vehicle? Is it a private sale or dealer?

scsuperfan

Tell them to kick rocks. Banks always try to play tricks like this. if they don't budge, someone else will gladly take your business.

jnolan

LexVan

Be thankful. There was a post about 2 weeks ago in our OT Forum, guy was buying a car, and a finger-print and a notary was required.

Hurricane

Say what?!?!

LexVan

Uh hu:

https://rennlist.com/forums/off-topi...-purchase.html

venom914

Code

This happened to me as well. I was going to buy a 997 Turbo from a guy who lived in Palm Springs, and my C.U. needed to see the car in person in order to fund the loan. They would not accept the PPI, they had to physically see it in person. Lucky for me the guy never showed up at the bank for our appointment, and I never even heard from him again. Just no call/no show. Ended up buying my 991 locally instead.

Hurricane

kmk0303

When I bought my car last year, the dealer arranged for a local notary to come to my house and have me sign off on the all the paper work and collect the 50% bank check for down payment. According to them, they had been burned a few times by out of state buyers. Finger print was taken as well.

Bank I financed the remaining 50% from could care less about anything but a call confirming the transaction.

2010panny4S

Damn......crazy.

I guess that's the difference between getting an auto loan from big bank compared to a CU. Mine approved in less than 30 mins without having to go through hoops.