Advice buying from private seller

I put a deposit on a car out of state from a private seller. Seller seems legit through forum research. He's got enough posts etc. has some pretty good history. Very helpful board member. Looked him and he's got a real business. PPI is getting done with no pushback. I paid a deposit by PayPal but am wiring the balance. We both bank at Bank of America and I was just going to do a transfer that clears almost immediately. How does getting the title work? Can't imagine him sending me the title before he pays. Any advice?

I put a deposit on a car out of state from a private seller. Seller seems legit through forum research. He's got enough posts etc. has some pretty good history. Very helpful board member. Looked him and he's got a real business. PPI is getting done with no pushback. I paid a deposit by PayPal but am wiring the balance. We both bank at Bank of America and I was just going to do a transfer that clears almost immediately. How does getting the title work? Can't imagine him sending me the title before he pays. Any advice?

 

 

I assume the car has a Lien correct? I would pay for car and have it shipped....wait for title. In my experience, this can take a couple weeks. If you trust the seller, you would have a paided bill of sale and the car itself. Conversely, you could escrow the funds with a mutually acceptable attorney or escrow company. Whatever you feel comfortable with......

I assume the car has a Lien correct? I would pay for car and have it shipped....wait for title. In my experience, this can take a couple weeks. If you trust the seller, you would have a paided bill of sale and the car itself. Conversely, you could escrow the funds with a mutually acceptable attorney or escrow company. Whatever you feel comfortable with......

 

There is no lien on the car. I feel fairly comfortable with him and am just wondering what the order of operation is.

 

1. I send wire to him

2. He sends car in enclosed trailer to me

3. He sends title and bill of sale by Fedex to me

 

Is there anything else to it?

 

 

 

There is no lien on the car. I feel fairly comfortable with him and am just wondering what the order of operation is.

 

1. I send wire to him

2. He sends car in enclosed trailer to me

3. He sends title and bill of sale by Fedex to me

 

Is there anything else to it?

 

 

Sounds good.........insurance in place in case carrier happens to have lapsed in their coverage.

Good to go....

You wire him money then he should instantly be able to fill in your info on the title and get that notarized and sent out to you. Car to follow.

You wire him money then he should instantly be able to fill in your info on the title and get that notarized and sent out to you. Car to follow.

 

 

That is the route I've always taken when dealing with an individual from either side of the transaction. Maybe I'm lucky, but I have never had an issue.

I'm more of the cautious type. I'm sure everything will be fine but I would have him send me a copy of the title(front and back). This makes sure there is no lien holder and that he actually owns the car, meaning, no one else is one the title. I have had businesses own a car and two people on the title. If someone is going through a divorce or they are not authorized to sign the title, it can get complicated.

 

I'm more of a handshake kind of guy. I would fly out for the day, check the car out, do a wire transfer while I was there, and then have him sign the title(take it with me); fly home. Then have him send it on a transport. No big deal. If you don't have time or you make more than a car is worth in that day; it's probably worth the risk.

 

If your too busy, another option is: contact the lambo dealership that did the ppi, find out if they will sell you the car, with a handling fee($500-1000). They would basically be the middle man.

 

Again, I'm more cautious. I'm sure you will be fine. Good luck

Depending where he is, a member could go check it out for you. There is some degree of trust involved though. I bought my Harley like you are talking about. We shared the same bank, transferred money, he sent the title right away and then I had the bike scheduled to be picked up. Zero issues. Even when there is a lien, I haven't had issues. Just involves a couple more days for the bank to send title to seller so he can fill out and send to the buyer.

If I can't personally fly to inspect and take possession on the car, I use the bank as an intermediary. You choose the BoA branch near him. He surrenders the title to the bank showing no lien and no encumbrance from another party, and when the wire hits, you have the bank next day the signed title to your home. I have never had a bank tell me no.

If I can't personally fly to inspect and take possession on the car, I use the bank as an intermediary. You choose the BoA branch near him. He surrenders the title to the bank showing no lien and no encumbrance from another party, and when the wire hits, you have the bank next day the signed title to your home. I have never had a bank tell me no.

 

That's a smart idea.

Proper move here is to accuse seller (via forum callout) of ripping you off and posting as much of his personal info as you can. Ideally, before the transaction has been completed.

 

 

We require entertainment.

If I can't personally fly to inspect and take possession on the car, I use the bank as an intermediary. You choose the BoA branch near him. He surrenders the title to the bank showing no lien and no encumbrance from another party, and when the wire hits, you have the bank next day the signed title to your home. I have never had a bank tell me no.

 

 

Or just buy a plane ticket, fly out and check the car out in person just as a final precaution and wrap it up in person. Make a weekend out of it, enjoy yourself, and fly home title in hand (or just drive the car back).

 

PS, there are about a billion better options than BoA, you must be a glutton for punishment.

Proper move here is to accuse seller (via forum callout) of ripping you off and posting as much of his personal info as you can. Ideally, before the transaction has been completed.

 

 

We require entertainment.

 

 

Lol......

Thank you for all the advice. Having the bank hold the title and send sounds like a good idea. I won't be able to fly there so I'm relying on the PPI to be my eyes. I've bought almost every car online but always through a dealer. Never got a chance to inspect but have always had incredibly good luck with expectations exceeded. This is my first online buy with a private seller. Thanks again.

I have bought and sold plenty of cars and motorcycles just like this... first make sure the title is in his name, and make sure his name and address matches that which is on his license. As for filling out the information on the title, I always tell people just to sign it and leave everything else blank. Some states (Texas and California) are very particular about any kind of marking on a title, you can always fill out the rest when you go to the registration office. Some states require titles to be notarized (Louisiana comes to mind).

If I can't personally fly to inspect and take possession on the car, I use the bank as an intermediary. You choose the BoA branch near him. He surrenders the title to the bank showing no lien and no encumbrance from another party, and when the wire hits, you have the bank next day the signed title to your home. I have never had a bank tell me no.

 

 

I've done it this way and it works very well.

 

Alternatively, I've had dealers do the same thing... Seller shows up with car and title, dealer confirms title is clear and the car is what it's supposed to be, dealer holds title until seller verifies the wire hit and then sends the title. Bonus points to this method because the dealer can hold the car (safe and sound) and they probably have better access for the transporter. Shout out to Roy; he has done this for me on a few occasions in the past (thanks Roy!).