Long distance buying through a broker?
07-22-2014, 04:14 PM
#1
Racer
Thread Starter
Long distance buying through a broker?
How do all of you handle a long distance car purchase?You are sending 15K-30K to a person you don't know and hope you get a car hauled to you.Are there brokers or services that handle transactions like this?thanks for any help or advice...
Tony
Tony
07-22-2014, 04:55 PM
#2
Racer
I had a very narrow set of parameters for the kind of C4 I wanted, so part of my budgeted acquisition cost was going to include air travel and hotel if necessary. I really would not have been comfortable buying something without doing my own pre-buy inspection, though I would also have a shop do a thorough check.
However, I was lucky that I found my car about 20 minutes away from me.
Make it a daily habit to check Craigslist and AutoTrader. You may not find your future ride in your backyard, but maybe an afternoon drive.
However, I was lucky that I found my car about 20 minutes away from me.
Make it a daily habit to check Craigslist and AutoTrader. You may not find your future ride in your backyard, but maybe an afternoon drive.
07-22-2014, 05:59 PM
#3
Team Owner
If you are spending that kind of money you mention, then I would suggest going to look at the car, drive it, and maybe have an independent shop do a Used Vehicle Inspection. It may be well worth the time and money to actually see what you are going to buy
The sales transaction can be relatively easy to do. You can work with your bank to set up a wire transfer that will take place only when you say to do it. You arrange to have funds available to the bank which will put the money in an escrow account. When you ready to actually buy, call the banks and have them transfer the money to the seller's bank (the two banks work together on this). Make sure the seller has the clean title so it can be signed off by him. You're going to need that title along with a Bill of Sale to get your new plates.
Shipping the car is a separate issue; there should be a number of reputable shippers that will pick the car up and deliver it to you.
And as mentioned, you should also be looking at similar cars in your area. It takes some effort in driving around, but it could make the whole buying process much easier.
The sales transaction can be relatively easy to do. You can work with your bank to set up a wire transfer that will take place only when you say to do it. You arrange to have funds available to the bank which will put the money in an escrow account. When you ready to actually buy, call the banks and have them transfer the money to the seller's bank (the two banks work together on this). Make sure the seller has the clean title so it can be signed off by him. You're going to need that title along with a Bill of Sale to get your new plates.
Shipping the car is a separate issue; there should be a number of reputable shippers that will pick the car up and deliver it to you.
And as mentioned, you should also be looking at similar cars in your area. It takes some effort in driving around, but it could make the whole buying process much easier.
07-22-2014, 08:42 PM
#5
Safety Car
Long distance purchases
I've done it a couple of times. One was a truck through a dealer is Los Angeles about 5 years ago. The other was the Vette through a car auction in N.M.
The truck I conditionalized the offer such that it had to meet certain requirements to complete the purchase. If it didn't match the claims, the deal was off and full return of my deposit.
The Vette was through a car auction. Thing is with an auction, if you buy it that's it. There are no mulligans etc on purchases. I've got a couple of friends with dealer licenses (which you need to bid at an auction) and the general consensus is if you lie or screw another dealer you'll be blacklisted real quick with the other dealers. They're all apparently pretty honest about the cars so you typically can take what's said about them as what the dealer knows.
You can also pull a carfax on a car for more info. Additionally most have some provision where you can have a mechanic check over a car.
Both my purchases worked out as did a 3d one that was in this area.
The truck I conditionalized the offer such that it had to meet certain requirements to complete the purchase. If it didn't match the claims, the deal was off and full return of my deposit.
The Vette was through a car auction. Thing is with an auction, if you buy it that's it. There are no mulligans etc on purchases. I've got a couple of friends with dealer licenses (which you need to bid at an auction) and the general consensus is if you lie or screw another dealer you'll be blacklisted real quick with the other dealers. They're all apparently pretty honest about the cars so you typically can take what's said about them as what the dealer knows.
You can also pull a carfax on a car for more info. Additionally most have some provision where you can have a mechanic check over a car.
Both my purchases worked out as did a 3d one that was in this area.