Long distant transactions
04-02-2017, 01:03 PM
#12
Here is how my insurance agent suggested such transactions. Take out a loan at a major bank with branches everywhere, like say a Wells Fargo or similar. Have the money deposited into your account. Fly to where car is located, inspect and test drive. If car looks good, go to local Wells Fargo where the car is located, and have them make out a cashiers check in the owners/friends presence and swap it for title. Drive car home.
04-03-2017, 04:43 AM
#13
As far as buying site unseen, people do it all of the time, that isn't what I was asking for input on. It all just depends on how good you feel based on talking with the seller. Like I said this will be #3 site unseen and so far I have been happy. I am not sure about the PPI I hear mixed things and sometimes it is a waste. The seller provided maintenance records from the local BMW dealer and they are very detailed and up to date.
With regards to what is stopping him from taking my $ and taking off, just a notarized bill of sale and that I will have all his info. Yeah if he does that this could turn into a big PITA, but I will let everyone know
With regards to what is stopping him from taking my $ and taking off, just a notarized bill of sale and that I will have all his info. Yeah if he does that this could turn into a big PITA, but I will let everyone know
04-03-2017, 10:08 AM
#16
only he doesn't have the cash in his account and I have the title and the car. My bank is working with us to make it a bit safer for both, since the check is to him he agrees that the title eventually goes to them in a formal agreement. If he doesn't go through they take action. They do lots of verification, plus I have done a ton myself (copy of title, drivers license, car fax, all maintenance records from the BMW shop, bill of sale) and the bank puts a hold on the funds, so if I don't get the title I can go that route. Still not ideal, but it is the route I am going, I will update how it works out.
Last edited by bgoetz; 04-05-2017 at 06:10 PM.
04-03-2017, 10:22 AM
#17
only he doesn't have the cash in his account and I have the title and the car. My bank is working with us to make it a bit safer for both, since the check is to him he agrees that the title eventually goes to them in a formal agreement. If he doesn't go through they take action. They do lots of verification, plus I have done a ton myself (copy of title, drivers license, car fax, all maintenance records from the BMW shop, bill of sale) and the bank puts a hold on the funds, so if I don't get the title within a day I can go that route. Still not ideal, but it is the route I am going, I will update with how it works out.
You're making this way more complicated than it needs to be.
04-04-2017, 07:46 AM
#18
You don't have the title and car, his friend does. No reason this shouldn't be feasible and protect both of you.
04-04-2017, 05:17 PM
#19
04-04-2017, 07:22 PM
#20
Waiting for pics!