Advise on buying NSX out of state transaction

[smithk3933]

I've bought a number of cars in the past including my last 91 NSX out of state but have always done the following:
1) Agree on price
2) Get a PPI, if all is well
3) Fly-in
4) Exhange money for car and title
5) Drive the car home
Longest drive I've done is NY to NC. I love driving my new purchases on a bonding road trip!

As I search for my next NSX, I'm finding a lot of examples that are on the west coast. As much as I'd like to, this is just too far to drive home. Factor in cost of cross country airfare and 3-4 days on the road and it just doesn't make sense.

So when buying a car remote, how does step 4 work to insure safety to both parties. I can still get the PPI and I can arrange the shipping, just not sure how to do the exchange. Can I use a bank or dealer to insure the funds are transferred only after the car is deliever?

Thanks for the insights.

Keith

 

[TyraNSX]

Use the search.

http://www.nsxprime.com/forums/showthread.php?t=82656&highlight=state
http://www.nsxprime.com/forums/showthread.php?t=103738&highlight=title

You're going to have to find a secure & willing place to store the car while waiting for the transporter to arrive. Make sure you insure it too. I doubt anyone will wait for payment until after the car gets to you. You pay them & then store car somewhere (I wouldn't want the responsibility as the seller to hold what is now your car).

I've bought a number of cars in the past including my last 91 NSX out of state but have always done the following:
1) Agree on price
2) Get a PPI, if all is well
3) Fly-in
4) Exhange money for car and title
5) Drive the car home
Longest drive I've done is NY to NC. I love driving my new purchases on a bonding road trip!

As I search for my next NSX, I'm finding a lot of examples that are on the west coast. As much as I'd like to, this is just too far to drive home. Factor in cost of cross country airfare and 3-4 days on the road and it just doesn't make sense.

So when buying a car remote, how does step 4 work to insure safety to both parties. I can still get the PPI and I can arrange the shipping, just not sure how to do the exchange. Can I use a bank or dealer to insure the funds are transferred only after the car is deliever?

Thanks for the insights.

Keith

 

[Erik B]

You'll love the drive tho!

I drove 2200 miles from Florida to Wyoming and I loved it!!!! I was lucky to have a great seller and we had enough trust in each other to make it work. 1st time doing that too! He actually helped me pay half my plane ticket! Maybe the seller is willing to help with the travel costs?

Good luck on the buy!

 

[Jack High]

I just did this. Steps 4 and 5 were simple because I purchased from a dealer and used my credit union to finance it. The dealer sent me the paper work. The credit union made the loan and arranged to have the title sent to them. The dealer also arranged to ship the car, on the condition that I paid for the shipping. Since I was responsible for the car the moment it left the dealer, I added the car to my insurance policy the day before it was shipped. The car arrived on one of those big trucks you see on the highway. I shipped from Minnesota to Virginia for $500 and the driver was very experienced. He put my car on top to avoid any rock chips or debris hitting it. The car arrived in good shape. The only snafu is that the dealer forgot to send temporary plates or the driver forgot to give them to me. So I haven't been able to drive the car.

Even if you don't need to, I would recommend financing a little of the car so you get the help of an experienced financial institution to help with the title transfer.

 

[sidwac]

Suggest you go to your bank and inquire about a Letter of Credit. I believe a LOC guarantees the seller his funds once conditions in the LOC have been met e.g. title, notorized bill of sale, car picked up by the transporter etc...It's a banking transaction that you can secure with your funds to pay for the car. I believe the seller has to show proof you outline in the LOC in order to satisfy payment. Sound complex (believe it is not) and intimidating (yes and seller would have to agree). I'm by no means an expert in LOC's, but this maybe a way to protect both parties in a car sales transaction. Regards....Andrew

 

[MartinSD]

Greetings

I live in Ca and purchased mine in Ma. I bought it from a dealer -- wired the money. The hauling company was notified in advance and were there about an hour or so after the purchase was completed. Record the mileage down to the nearest 1/10th.
Getting a good shipper is another story. The people drove mine several miles while the shipper had it. I used a Citibank Mastercard and complained to them and to the shipper with a threat to stop payment. Suffice it to say, several hundred dollars were removed from the fee -- I would let them know in advance that you will charge them $100/mile for any mileage more than 1 mile. I am guessing someone got fired.

Cheers,
Martin