Carreralicious

What if the cash is counterfeit?

PV997

Check out the Normal guy Supercar videos regarding CNC Motors (formerly in Upland, CA). They had owners leaving high-end cars to sell on consignment, then they sold the car without telling them. The owners only found out after calling CNC (sometimes months after the sale) and being told the car had "just sold" and "the check was on it's way". So far at least forty people have not gotten their money and CNC is long gone. CNC usually insisted the seller supply the title when they left the car on consignment.

This one hits close to home as I bought my TT from CNC though it was over two years ago apparently before things went south. It did take nearly two months to get the registration as I suspect in hindsight they were floating the payoffs on existing loans.

ktnielsen

As another member recommended do an escrow account. A couple of years ago I sold my boat to an out of state buyer who setup an escrow account online. Transaction was easy the buyer and I were very happy with the transaction.

james280

Well... hopefully someone at Experience Wholesale is reading all this and it prompts them to come up with a better, safer way to settle car transactions.

jfischet

gold bars? bitcoin? central bank digital currencies? lol

mjposner

Latest from them: "It’s called left lane exotics our name on sun biz , owned 100% by the same owners of Ferrari of Fort Lauderdale and Long Island . You can call and verify us and myself . We do the buying wholesale part."

I offered to take a wire, they said, "We do only checks but will figure out I can swap title with the check."

I offered this: I will give you a bill of sale and copy of title, check can be made payable to my law firm trust account and when cleared you can get car and title. Look me up, Ward Damon Law firm. He replied "Have a lovely weekend . Let me know when your ready ! We can meet at Ferrari of Fort Lauderdale dealership and then you keep the car we won’t harm anyone reputation is everything"

Will call Ferrari dealership
will give you a bill of sale and I will give you a bill of sale and copy of title, check can be made payable to my law firm trust account and when cleared you can get car and title. Look me up, Ward Damon La

mjposner

Just called "https://www.ferrarifl.com/" and the buyer does work there as a salesman.

RPA911

The fact that he wont wire the money is crazy to me. I would just keep looking.

Levy

it is true that almost every dealership pays via check when buying wholesale units. the main exception is when doing business with the big auction house's. some dealers who do alot of business at auction set up electronic payment, but that's about the only time they do e-pay. many dealers won't not pay for a car unless the title is present/handed over at payment. the only real exception to this is when paying off a lender/lien..... so i kinda see where this guy is coming from.

sounds like you connected some dots and are making progress. i'd speak briefly to a manger there too, if you haven't already. local franchised dealer being behind the purchase would eliminate almost all of my concerns. good luck

good luck

mjposner

I guess if the check is from Ferrari of Ft. Lauderdale and I get a letter confirming title does not transfer until clearance, maybe okay?

Levy

I would have no hesitation taking a check from a local franchised dealer. My issues would be with Indy dealers and/or wholesalers. Not saying they’re all hoodlums but many are. Confirm the check is from the dealership along with something in writing stating the terms/details and you should be fine.

justbob

Sounds reasonable to me. I would take the deal without hesitation. Dealers write checks. That's how they do it. If you are defrauded, it would be considered a theft by deception and you are probably insured. I highly doubt it would come to that.

jimmiejam

As long as you are dealing with Ferrari Fort Lauderdale and know that as fact, taking a check should not be an issue. What also should not be an issue is that they get the car only when you have the quarters in your pocket.....