Will a dealer handle a pvt party transaction?
#1
Will a dealer handle a pvt party transaction?
With my credit union I get a lower interest rate if I buy through a dealer/broker than a private party. I have a car I am interested in with a private party. It will save me about $1,300 over the loan term if I buy through a dealer. Does anyone know if a dealer, for a small fee, will handle the transaction so I am buying through the dealer?
#2
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It depends on the state laws. In some states, Kansas and Massachussets among them, there is an automatic warranty associated with the purchase of a used car. If you buy a 911 from a private individual and the dealer handles the transaction, and the motor blows up a week later, the dealer is liable for the repair.
In states that don't have such regulations, I've found that an offer of, say, $200-300 or so will motivate the dealer to handle the transaction. I doubt most Porsche dealers would be bothered, but a smaller used car lot would likely be interested.
Vic
95 C4
In states that don't have such regulations, I've found that an offer of, say, $200-300 or so will motivate the dealer to handle the transaction. I doubt most Porsche dealers would be bothered, but a smaller used car lot would likely be interested.
Vic
95 C4
#3
I agree wiht Vic's comments above. A few years ago I bought a friends 930 and we ran it through a dealers books in New York state. I signed a document stating the car was be purchased "as is" to protect the dealer.
Ted
Ted
#4
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I have also seen creative transactions where the car is "flipped" through the dealer as a trade-in, reducing the tax liability for the buyer of the new car by the amount of the trade-in but with the used car sold to the purchaser at a price set by the owner. Like Ted, I signed an "as-is" document to protect the dealer, and everything worked out fine.
-Knute
-Knute
#5
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I've done it, but here in Washington State we have a revenue tax (B&O) and I had to pay that for the dealer - just a few hundred bucks but it saved a bunch in sales tax (trade-in tax credit).
#6
Here in California, I had a friend who bought his car through a dealer that sold cars via consignment sales. Basically people would set the price of the car and have a dealer sell it for them for a small commission fee. The dealer handles all marketing, sales presentation, paperwork, DMV, taxes, registration, etc. The commission fee varies but the one my friend used normally charges 10%. Because my friend already knew the seller and just wanted a dealer to facilitate the sale in order to handle all paperwork and loans (less hastle for my friend basically), he was able to get a lower commission fee instead for the transaction (I believe 5%). This might be one route for you to go through if you have dealers that do consignment sales in your area, or maybe a small mom and pop independent dealership can do it for you for a fee as well.
#7
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If you have a relationship with a dealer, I'm sure they will do this for you for a token fee, say $300 or so.
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#8
Ted do you have a website with pics of your car? My car is similar looking and I was just curious what your interior looked like and what your rear spoiler looked like from different angles. Thanks Anyway even if you don't.
My Car: : <a href="http://community.webshots.com/user/gtr993" target="_blank">http://community.webshots.com/user/gtr993</a>
My Car: : <a href="http://community.webshots.com/user/gtr993" target="_blank">http://community.webshots.com/user/gtr993</a>
#10
where are you located will make a difference. An out of state dealer more than likely will need to verify the Vin etc. to run through. That, at least in California, requires a physical verification.