Metaphysician

I found a 997.2TT 6MT CPO for sale at a local Porsche dealer (dealer #1), but another broker/dealer (#2) beat me to making the deal (literally by hours). Dealer #2 since sold it to another broker/dealer (#3) that I coincidentally got a hold of. I put a deposit down to buy the car from dealer #3 (of course for a markup since dealer #1 ). However, price is still fair since dealer #1 priced it to sell quickly. Dealer #3 now has the car in his possession (3 hours away from me). Lien from the original owner's bank was released and the title is en route from the bank to dealer #1. So now I have to wait for the title to go to dealer #1->dealer #2->dealer #3->me. I wanted to get your thoughts on next steps....

The safest and most convenient path for me is to wait for the title to arrive at dealer #3 so I can do final inspection on the car in person and then wire him the money. I would take the car, title, bill of sale, and temp tag all at once. Downside to this path is that the car is not in my control and will likely be sitting for 1-3 weeks. This dealer would love to sell the car to someone else that will pay him in full sooner (and probably for more money), but so far he is being patient and holding for me with deposit.

The other option is to get the car and bill of sale this week and wait for the title in the mail. Dealer #3 is reassuring me he will get me the title asap, but there's a lot out of his control and after all, he's paid and the car is gone... Additionally, he cannot issue me a temp tag since he doesn't have the title yet. This is not a huge deal, as I plan to trailer the car home and I can get a temp tag from my state. Another alternative to this is to offer the dealer partial payment and take the car and bill of sale, but hold back some funds until I receive the title. Not sure that he would go for this, but at least both of us are incentivized to get the title asap.

Am I being paranoid that this title will get lost or I'll end up in paperwork hell somewhere down the road for some reason, or should I go get my car sooner? What is par for the course on cars that sell so fast and the paperwork hasn't caught up?

997TTEQNY

Personally, I wouldnt touch a car without a title. I dont care what it is, and how much you want it.

I bought a car (not a porsche) recently over the internet as I've done many times. The title as promised, but never arrived. The car was pretty cheap and a spare car for our household to shuttle our kids around.

Dealer stated he bought it from an auction and wanted to issue me temp tags from FL. I had no interest being I live in NY and told him to put up or take it back.

I'll spare you the details, but I ended up involving my atty, BBB, FL Atty General, and Ebay over the course of 2mos.

The dealer finally took car back with Ebay footing the bill for the transport.

Bxstr

I would want the title, but it depends how trustworthy the broker is. If he was a well known Rennlist vendor with no negative stories I would be less concerned. If it was a random broker that you never heard of, I would definitely wait for the title. If he sells the car out from under you with a deposit that is better than paying him $100k+ and not receiving the title to the car.

Feld

Offer the dealers pre paid fed ex to expedite the title from the next dealer. Get the deal deal in writing that the car is yours with a deposit which should be somewhat binding and wait for the title. Then bug the selling dealer for updates every couple of days to make sure things are moving along.

evilfij

Most states dealers can assign the title without a transfer so #3 should get it quickly. I’d wait.

Feld

Thats a good point, in Pa all a dealer has to do is sign the back of the title to assign to another dealer.

Domer911

If you have money down on the car, and the dealer has still somehow convinced you he would sell to someone else who would pay him faster, I would politely tell him to go f**K himself, and move on. But that's me.

Metaphysician

Thanks for the input, gents. The dealer initially told me that he'd like to photograph the car and get it listed so he can get backup buyers lined up in the event I back out. I get what he's saying, but it felt like a pressure tactic to me. If it turns into a bidding war or he sells it from under me despite a deposit, then so be it - not the right car or dealer for me. I'll wait for the paperwork and hope the deal comes together.

Feld

Good Luck, keep us posted.

Domer911

this is actually a much more mature plan than mine. If it comes together, you got what you wanted. If not, you can still resort to profanity and move on. Good luck sir!

gsxrjjordan

Unfortunately, with a car as hot as a 997.2 6MT, that's the route that gets you the car with legal recourse if you don't get the title. I'd go with this if you really want this car.