If you have a Porsche Dealer consign the car rather than you buying it directly from the seller, The Dealer will charge you at least 10-15% for ther service. They don't give Christmas Gifts.
Just buy it from the seller and take the cautionary steps most have suggested above.

Good luck with the purchase.

 

Get local attorney to help as an escrow agent? Each party sign the escrow agreement. It spells out the steps. I’ve done it holding money in my trust account, getting the title, etc. more complicated with a lien for sure but it could be done. Maybe have attorney take possession of the car with a bill of sale until title comes from bank. And I wouldn’t charge a percentage.

 

No, it wouldn’t be consignment…I think he chose the wrong word. It’s called and in and out sale, and I’ve done it through 2 different dealers who are very familiar with the process.

The owner sells the car to the dealer for a set price, the buyer then immediately buys from the dealer for THAT price plus TTL - simply as a means of satisfying the note and transferring the title. You leave with temp tags and a purchase packet from the dealer. It counts as a sale, so the used car manager gets a little benefit out of it too.

To the OP: it may be helpful if your seller has a relationship with a local dealer, but I can tell you that there’s a Porsche dealer in the Houston area who did this very thing for me for an additional fee of $500 a few years ago. I was glad to pay that price to be comfortable with a fly in, drive home deal.

 

In 37 years of buying Porsche's I've never heard of this.
Seems odd to me that a Porsche Dealer would risk their liability for $500 to oversee the sale & Title transfer of a car.

 

Living proof here - 2x.

 

A great service if they will allow it. Cuts out a lot of worries/concerns.

 

It is. The first time involved a trade. I wanted to buy the car from the individual, who wanted to buy another car from the dealer. He got the benefit of the trade credit to the dealer to dodge some tax liability on his new car and I got the dealer to handle the title transfer. Dealer got to show 2 sales back to back on a slow rainy sales day. Everybody wins.

 

Use caution, but going through a Dealer is a possibility and most will charge a fee, but 10-15% is not likely. The concern is to ensure the Title is sent to you and not the current owner -- this happens more often than note. You can sure negotiate the price with the current owner paying the Dealer by reducing the price enough that once back to the original agreed price , everyone comes out ok to a degree. If the payoff is close to the value the seller needs out of the payment, insurance, etc.

 

I will be moving forward with the car it seems pending a PPI next week. I had a nice long chat with the seller and his wife who seems to run the household (like mine). Seems like she would be doing all the legwork to secure the title and get it sent. She gave directions, hotel recommendations and seemed semi-knowledgeable about the process.

We're all on board with going to the local BoA branch, paying it off, and having the bank notarize the bill of sale. I'm confident the title will get sen to me by his wife .

Car goes to the local Porsche dealer for a PPI. I think it will be a check the boxes PPI without a lot of extra thought. An Indy was recommended by a local there but they're backed up until 1st week of Feb. Their PPI would be superior for half the cost but not in the cards. Neither will check panels with a paint meter. I think i'm going to take a flight down and look, check paint meter readings myself.

Can anyone recommend a decent low budget meter to buy, take with me?

 

Have you checked the Carfax?

 

Yeah, Carfax is clean but you know how far that goes.

 

Good luck dawg!

 

Thank you!

 

Not sure I see the issue here, I think many cars are sold this way. P car no different. I have bought and sold a few cars and when buying i had the seller do state dmv sale paperwork and sign it etc, then when title came it got sent to me after the seller received it and released interest with his signature. Flip it around for the other scenario. I know the “**** happens” mantra but never let it stop me from getting the car I want.

What makes my butt pucker the whole time was buying a car sight unseen with wire transfer lol, you’ll wanna take up smoking for your anxiety.

 

It used to be a thing, before franchise dealer and profit average metrics.

The dealers main advantage is getting the new car sale, not the $500 sale.

If a dealer offers me $25k for my car but I can find a buyer for $50k, they can still hold together the new deal and make $500.

I did it in 2021 when purchasing an Audi, I was offered $7k for my trade and found a buyer for $12k.

With bank funding and title in hand, there isn’t much risk.