Difficulty buying a car out of state
#21
I've never had a big problem and I always finance. For my last one I agreed price and got a check made out to the seller from USAA. It was in his name and shipped to me. He verified funds days before I flew out. He deposited the check, took copies of my license, bank account details etc and signed over the title. He was also a cop so that kinda made things a bit more on the up and up. Feel out each other, do some social media digging and go with your gut if it feels like a scam.
I sold my last S with a lien to a guy who financed. Once he handed me a check I handed him the car and keys and he took it home and parked it. Once his check cleared I paid the loan and released title to him. Just make sure to have a very well written out bill of sale and have a copy for each party notorized. Also make sure to get copies of each other's driver's licenses and just make sure to keep comprehensive insurance on the car until the money has posted and the title exchange has happened.
I sold my last S with a lien to a guy who financed. Once he handed me a check I handed him the car and keys and he took it home and parked it. Once his check cleared I paid the loan and released title to him. Just make sure to have a very well written out bill of sale and have a copy for each party notorized. Also make sure to get copies of each other's driver's licenses and just make sure to keep comprehensive insurance on the car until the money has posted and the title exchange has happened.
#22
Used escrow.com for my purchase out of Texas back in June....very very easy and smooth process. I highly recommend them. They have title and payment escrow service.....send them the funds, seller sends them the title and ships the car, they release funds to seller after agreed upon inspection period. I think it cost me about $200.
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markpenske
S2000 Talk
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01-23-2004 07:36 PM