paver

I'm considering buying a used 911 from an individual. He has the car financed with Porsche Financial so he doesn't hold the title himself.

I would prefer for him to endorse the title and put it in my hand the minute my wire hits his bank acct. Obviously, that's not going to happen. So, how do I do this to insure everything is on the up and up and I don't get burned? I want to make sure that there are no snags and the car is legally mine when I hand over the money. The car is in Florida if that matters.
Thanks

mschwa3439

u can arrange the purchase direct;y thru porsche financial. only way to do it right. otherwise u r left exposed.

DJ23

+1 on that one. Don't approach any other way. Good luck.

Ish993

soooo many shady people out there, particularly in FLA........ the scam state

McCulla

There are way too many nice cars out there to take ANY risk. I've been burned on these deals twice. My rule now is that it is worth my air fare risk to hand over money as I am handed the keys. Never again.

paver

I'll call Porsche Financial in the morning. Thanks!

mdrobc1213

Proper way? find another car man! I'd be so wary of this one that IMHO there are too many other cars out there to buy. Unless Porsche financial can verfiy every detail and that they have the title...I'd stay far away. Good luck!

rijowysock

south florida=scam
orlando=scam

the rest is quite honest.

i live in tampa and wouldnt buy anything from orlando or miami area's... so sketchy.

paver

Seller is a rennlister and has it listed here.

PaulLA

I purchased a car from a private party and he still owed money on it (from his credit union). I contacted DMV on what papers needed - you will need a bill of sale and I received a paperless title from the credit union. Contact your DMV and Porsche Financial to to see what they require for the transfer as they will not release it to you without payment in full. I also contacted AAA as they can take care of this transaction (in California). I do suggest calling each entity a few times to get different people on the line to discuss and ensure they are giving you the same requirements needed to register the vehicle in your name. I would prefer to pay Porsche Financial off and then give him the remaining amount if any once there is delivery (with a contract of course). I would also take it to the local dealer or independent for the PPI, plus get the car fax, etc....Lots more homework to do for a private party purchase, but i saved over over $10K compared to the dealer. Good luck!

Dr.Bill

I purchased a car from a seller in Florida earlier this year. To make it easy, he paid off his loan and got the title in hand. Then I sent him a check and the shipper picked up the vehicle. Made it fairly simple.

If you do have to deal with a lender, make sure the check you send is made out to the financial institution, not the seller. Or, at the very least, has both names listed. And it will take several days or longer to get the title from the lender.

McCulla

Due to the proliferation of fake Cashier's and "Official Bank Checks", many people will not trust this type of instrument. You may have to have some way to confirm the legitimacy of your payment form. Speaking from experience (unfortunately).

DLennox

Call one of the local dealerships. For a small fee, one will be willing to handle the transaction for you. People trade and sell cars with liens all the time, it isn't a big deal.

greenie

If you like the car, dont pass. You pay Porsche directly. They dont care who pays off the car.

philooo

DMV need to come up with something in order to be able to get information on title more easily
At this time you have to call on the phone and it can be misleading or even wrong information.
I understand the privacy thingy but this doesn't help transparency.
I think the best is using service like escrow dot com, it cost 200 to 500 bucks and both buyer and seller are protected... even though the buyer might be protected a little more as he drives away with the car..

That is why dealers are still selling used car.. that is the only way to avoid scammer... if you don't count dealer as one of them