Safe Car purchase

[s2kNSX]

Hello

i live In SoCal and I am looking to purchase a car cross country in Hackettstown, NJ
howerver I don't have the time to fly out see the car and drive it back or have it dropped off at a shipping company.
i was able to get a buddy of mine to drive an hour and look at the car the other day and tomorrow I am scheduling a PPI.

The seller and i both have a Dilemma.
He is worried that i am maybe out to scam him and get a car without paying if he ships it before I pay him.
i am worried that if i pay first then he will keep the money and i will never see a title let alone a car.

has anyone dealt with this before ..where they wanted to purchased a vehicle through a private seller yet did not know how to complete a transaction that was assuring to both parties?

i was thinking of having the dealership hold the car until the shippers picked the car up..this scenario would only work if I am to trust the seller dropping the car off to the dealership once the money is wired to his bank

zaid

 

[Aaron94T]

Zaid,
The problem here is one party needs to be exposed more than the other. The buyer is normally the one that needs to bend first. For my Green NSX I wired 100% of the money to the seller who lived 12 hours from me having never met him but having talked to him extensively and getting some verifying information from him. I purchased my blue NSX by wiring 100% of the money as well but it was only a few hours away so I met the seller before hand. In both instances I had to bend and be exposed. When I sold my Vette, previous Supras, 300Z, etc, I always had 100% of the money in my account before releasing the car. I have been on both sides and I bend when buying and do not bend when selling.


BTW, I live 5 minutes from Hackettstown NJ and know of 2 red NSX's their. PM me if I can help as I could hold the car once wired or come up with some such creative solution.

 

[Motegi]

I have only done this one time in the past, for my NSX purchase.

If I recall, what we had prearranged was that transporter driver called me on my cell phone when he was about to load the car onto the trailer. I got the transporter driver's contact information from the transport company BEFOREHAND. The transporter driver does, as a routine, a full visual inspection of the vehicle for his own company's purposes and can therefore serve as a confirmation of the condition of the vehicle. Once the phone call was received, the funds were release in full electronically.

I believe that the vehicle/transporter dropoff occurred in the parking lot of the seller's bank. Although these days, with smartphones, you can check your bank statement from anywhere.

 

[Ponyboy]

There are a number of ways you can do this. In addition to the above, in one of my previous car purchases, I put a certain % down and then release the rest of the funds once the car was on the transporter. That way both parties have "skin in the game." However, the routine way of doing it, is that the buyer pay up front for the car.

 

[FF Drifter]

You can also do what I just did: fly cross country to complete the transaction in person.

 

[s2kNSX]

i wouldnt have created this thread if i had the option to go there myself.

You can also do what I just did: fly cross country to complete the transaction in person.

 

[Fuoss484]

I just did this with a viper I bought in Miami FL. Did the PPI sent deposite via paypal. Overnighted him my certified checks. He deposited them. Waited for the checks to clear. Checks cleared on Tuesday. My shipper is picking up my car tomorrow. What I did was put myself in the sellers shoes.... So it made sense for him wanting to know my checks cleared. Had to be a little trusting on my end, but it all worked out.

Weird thing was I posted a topic like this two weeks ago, and had no responses. So I had to figure it out for myself....lol

 

[chumch]

How about using an escrow service?

 

[RJD1022]

Here is one of many Auto escrow services:
https://www.escrow.com/solutions/vehicle/escrow.asp

Much like the new market place here on Prime these services provide safeguards for both the buyer and the seller.
Of course that service costs.

 

[s2kNSX]

how much is such a service...or what is the rate.

thank you
z

Here is one of many Auto escrow services:
https://www.escrow.com/solutions/vehicle/escrow.asp

Much like the new market place here on Prime these services provide safeguards for both the buyer and the seller.
Of course that service costs.

 

[HIJACKER]

Just curious - what is the cost of doing this through Ethusify? Are the fee's still being waived currently?