drcheap

Did not read all.this but my advise is;pay off the loan directly to the credit union? And they will pay the seller/owner the difference between sales price and how much the seller owes. A good PPI is most important, to,read the computer. My first TT was found to have over 1700 over revs that the seller claims he did not know of. And this was at a Pcar dealer-the first PPI did not/could not do a computer scan. Be comfortable with your decision-any misgivings should not be ignored

drcheap

Did not read all.this but my advise is;pay off the loan directly to the credit union? And they will pay the seller/owner the difference between sales price and how much the seller owes. A good PPI is most important, to,read the computer. My first TT was found to have over 1700 over revs that the seller claims he did not know of. And this was at a Pcar dealer-the first PPI did not/could not do a computer scan. Be comfortable with your decision-any misgivings should not be ignored

Turbodan

I don't see how an escrowe service will work for you. you pay the money to escrowe and they only release the money to the seller once you are happy with the car. But you have to pay the bank so he essentially will have the money already, that does not protect you. I would have an agreement drawn up that he instruct the bank to release the title to you after you pay the bank and pay him the difference. I would ask for id from him and pictures of the car with todays newspaper, and if he balks walk away.

s65e90

Yes. What's that have to do w/ anything?

s65e90

If you really want the car but can't get there right away try and give the seller a deposit to hold car and then go in person. If you can't go in person, and you're this concerned, look elsewhere. These cars are a dime a dozen. GL!

2fcknfst

My experience with insurance guys is that they are not typically very trusting, you seem to be an exception to the rule...

Indiana Jones

Not sure if anyone cares, but I have decided to heed the advice of many here, and use my own intuition and I have backed out of the transaction.


In short, I agree with most of you here in that the transaction was a bit too complicated to make sense. I really appreciate all the help of the forum. It is quite interesting to read back through the thread...makes me realize why all the hoops?

Thanks
Richard

pancing

Heres to you finding a easy transaction 996tt good luck!

2fcknfst

Good for you.

I care - I wouldn't want to see anyone get potentially screwed on something they wanted badly, and that will bring you much joy - getting into a bad deal would leave a sour taste and maybe you wouldn't want to Porsche anymore.

It is the buggering around I don't care for.

Carlo_Carrera

There are great 996TTs on BaT all the time. Check them out. A completely secure transaction is nearly guaranteed.

https://bringatrailer.com/porsche/996-turbo/

05 Turbo S

We all care IJ.
The hunt for the right car for YOU is just part of the fun and also such an important part of owning a Porsche. There is unfathomable and incredible knowledge within this forum! As you have found out, all you have to do is ask. Read and absorb all of the infinite info available to you.
Good luck and pay it forward when you can.

2fcknfst

And... speaking of BAT...

https://bringatrailer.com/listing/20...leKmw5I6CARU38

champignon

I am so glad I already have my car and am not looking to buy another. I've personally had mixed results buying older collectible cars. When you buy the right car from the right seller it can be nearly an orgasmic experience. When you buy the wrong car from the wrong seller, it is like a migraine headache that won't go away.

My 996 Turbo purchase was among the smoothest transactions I ever did and also one where I did way less due diligence than I could or should have done, but it was based on my gut feelings about the seller, who presented himself as, and was, an incredibly **** person. When I got off the phone with him initially, I couldn't understand how anyone could live with such an **** person, and my gut told me that this was someone who couldn't tolerate the slightest thing wrong with a car. He had just dumped about $15K into the car, then his wife got pregnant and she told him to sell the car, which he had barely driven since it was in the shop having all the work done since he bought it. I flew out to LA two days later with a cashier's check in my hand, took an uber to the guy's house, and while there he pointed out every tiny paint imperfection and a 2mm cigarette burn in the carpet which was almost hidden under the driver's seat. This was one **** guy. I had a couple of options for PPIs and decided not to do either of them. We went to his bank which refused to guarantee to him that my cashier's check was good. We debated how to deal with that and in the end we just decided to trust each other. He signed the title over to me, and I drove off into the sunset.

This is not how you should buy a used car, however the couple of times that I got severely burned with used vintage cars, I was way more careful and in the end I got f*cked.

Don't interpret any of this as advice on how to buy one of these fine cars. I have however now had the car for 3 years and it has been checked 3 times by the local Porsche dealer on annual visits and there has been absolutely nothing wrong with it other than a couple of trivial things that developed over time. It's a blast to drive.

I guess my point is that there is a certain amount of luck in any vintage car transaction. You can dot all your "I"s and cross all your "T"s and still have a bad experience. Even if the car is perfect when you receive it, 3 months later you could have really big problems. Don't buy a car like this if your finances are tight, and budget a few thousand dollars, minimum, for unanticipated expenses, no matter what.

Good luck

Turbodan

not sure this is accurate. To my knowledge BAT takes their cut and lets seller transact any way they want. Not sure how a secure transaction is nearly guaranteed.

Carlo_Carrera

Sellers and buyers are vetted by BaT and the community there and credit cards are held on file.

Have you heard a transaction going wrong?