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Buying car long distance procedure

Discussion in 'Ferrari Discussion (not model specific)' started by ndnguyen, Mar 4, 2006.

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  1. ndnguyen

    ndnguyen Karting

    Jul 27, 2005
    166
    #1 ndnguyen, Mar 4, 2006
    In my reckless, gullible days I bought a couple of cars (including a 328) sight unseen, all based on the sellers words. I was lucky. I don't feel as lucky now, particularly on a TR. So how do you resolve the dilema of buying car long distance?

    Obviously I can't fly all over the places for every possible candidates. I rather not spend $ for multiple PPI on multiple cars and not knowing if the offer will be accepted or not. Is the following reasonable to both parties

    - Seller honestly describes the car's condition as best he can
    - Buyer makes an offer contigent on major points of PPI result.
    - PPI major points: engine condition as determined via compression and leak down test, tranny condition as determined by PPI test drive (is there a more subjective way), damage free frame and suspension. OR perhaps stated differently, the total of all repairs needed are less than $5K (or some other amount).
    - If the seller accepts the offer, he still isn't committed to the deal until the PPI started and only for X hours (perhaps a day) after PPI is done.

    If you are the seller is this fair to you?

    Thanks for your thought.

    - Nguyen
     
  2. WILLIAM H

    WILLIAM H Three Time F1 World Champ

    Nov 1, 2003
    35,532
    Victory Circle
    Full Name:
    HUBBSTER
    #2 WILLIAM H, Mar 4, 2006
    legally as soon as the offer is accepted there is a binding contract. You can however make the contract start X hours after whatever

    There is no really good alternative to paying for several PPIs if you are looking at several cars

    I wont buy a car w/o a PPI especially considering the amount of $ it takes to restore an Italian exotic
     
  3. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #3 SrfCity, Mar 4, 2006
    If I were the seller I would rather not be pinned down with the results of a PPI. I'd tentatively agree to a figure and then once PPI is done I'd go from there. IMO I wouldn't want to get into a situation where the PPI is used as a way to grind the price down.

    Eye balling a car that you intend to buy is the only way IMO. If you can't do it then get someone else you can trust. Not the PPI guy either. The PPI guy becomes a second set of eyes. This is all based on what I'd prefer so not necessarily how others would do it. Good luck finding your car.
     
  4. Kds

    Kds F1 World Champ

    May 1, 2003
    10,994
    Canada and Brasil...
    #4 Kds, Mar 4, 2006
    As a dealer I have no problem with your concept of what a PPI is or how the agreement should be worded. It seems fair and reasonable to me and indicates that you have though the buying process thru and are a serious purchaser.

    Nothing beats being there however........but like you said........you can't fly everywhere either.
     
  5. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #5 BT, Mar 4, 2006
    Sounds reasonable to me. You make an offer based on some assumptions. If the assumptions are true, you have a deal. If there are problems you try to work out a deal that resolves the problems. I would agree to that type of deal if I was selling the car. What about things not noted on a PPI that you do not like? As an example, a tear in the leather dash or some door dings???
    BT
     

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