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Internet Car Purchase Help

Discussion in 'Ferrari Discussion (not model specific)' started by Scotty, May 9, 2009.

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  1. Scotty

    Scotty F1 World Champ
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    Oct 31, 2003
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    #1 Scotty, May 9, 2009
    Yes--I've searched extensively--I can even recall some of the threads, but for the life of me I can't get the search terms right to find the threads.

    My question concerns purchasing a car long distance from a private party--assuming the PPI checks out, etc. what is the safest way to handle payment. I will not be able to fly out to inspect the car personally, and it will be shipped. The owner and car are not proximate to an appropriate dealer, so that option is out.

    I'd appreciate either some advice, some links, or just the words so I can search myself. Sorry.

    Scott
     
  2. Scotty

    Scotty F1 World Champ
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    #2 Scotty, May 10, 2009
    I finally searched under "escrow.com" and found what I needed.
     
  3. CraigFL

    CraigFL Formula Junior

    Jan 17, 2001
    954
    Panama City, FL
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    Craig
    #3 CraigFL, May 10, 2009
    I used escrow.com but be sure you write the agreement carefully with checkpoints/signoffs along the way.
     
  4. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #4 SrfCity, May 10, 2009
    I've heard the escrow services are scams etc. Not sure but it'd really make me want to check into it. Nothing beats face to face but if everything about the guy checks out I'd just wire the money. Google the guy's address and all that stuff, call his bank manager etc. Have him FedEx the title once he gets the money. I'd prefer doing this over paying a possible scam escrow service. You really get a feel for people by talking to them, calling their service guy and above all verifying. Should be OK.
     
  5. Scotty

    Scotty F1 World Champ
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    #5 Scotty, May 10, 2009
    Not all escrow services are scams--but many are. Issue right now is that I found the car via EBay--and it is being sold by someone else (not the owner--don't know if a friend, a consignment place, etc.). Always a red flag--I've asked to speak directly with the owner--all I'm hearing so far are crickets. I don't disagree that there are ways of getting relatively comfortable with someone long distance (including the fact that one of my one banks has a branch in the city the vehicle is in--I very well might be able to have the manager of that branch trade the cash for the title, as well as witness loading on the transporter). But there is a LONG way to go until we are even at the point.
     
  6. alberto

    alberto Formula 3

    Aug 25, 2001
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    #6 alberto, May 10, 2009
    This story (about a friend or someone selling the car for the owner) always scares me away, unless it is a dealer that I know, know of, or is reputable according to others. Unless the value of the car is pretty small in your eyes, I don't have any advice to help you here except that you should tread VERY carefully.
     
  7. stitch

    stitch Formula Junior

    Mar 6, 2008
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    Charles
    #7 stitch, May 10, 2009
    Perhaps you could hire a lawyer in the area to perform the transaction for you.
     
  8. Scotty

    Scotty F1 World Champ
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    #8 Scotty, May 10, 2009
    I think it is not to be. I had asked the lister a bunch of questions--he totally ignored my questions and just said cheerily "I'm re-listing". Time to move on.
     
  9. widdlewade

    widdlewade Formula Junior

    Sep 24, 2004
    317
    Bay Area/NYC
    #9 widdlewade, May 10, 2009
    Scotty,
    Where is the car you want? You should ask about it in the regional thread, where the local guys can point you in the right direction with regards to the history of that particular car and seller.
    Good Luck!
     
  10. Scotty

    Scotty F1 World Champ
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    #10 Scotty, May 10, 2009
    I thought about that, but it is a hot rod Chevy truck, and I decided it might be "above and beyond" to ask someone on a Ferrari bulletin board to do this. It is in Wilmington, NC. At this point, I am going to hang back. The truck has been re-listed with a "Buy It Now" price higher that I am willing to pay. I am going to see if the seller contacts me--I have no interest in this if I can't speak with the owner, and if I can't get it inspected before putting down a deposit. I have requested to both of these things, and the seller/lister has ignored the request. If that were to change, I might post up in the appropriate regional section.
     
  11. ALPO

    ALPO Formula 3

    May 13, 2005
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    #11 ALPO, May 11, 2009
    I bought a TR and 360 from F-dealers over the Internet.

    I wired a 50% deposit and sent final payment via FEDEX upon delivery. Also, I had independent PPI and F-Club members (local to dealers) inspect and test drive cars. It didn't hurt that one F-member in Colorado was a F-concours judge and said if I hadn't bought the TR, that he would.

    Both dealers did a credit and background check on me (even though I paid cash).

    I think the process was EZ because at the time, I also owned another F-car.

    The local F-dealer was overpriced and he didn't want to deal.

    Embrace the Internet!

    Make sure to do your DD: PPI, including getting a photocopy of the title and reg in advance, and running the S/N through the dealer network and CarFax. I went so far as to ask for a photocpy of all the maintenace/repair orders and statements. Caveat Emptor my friend and good-luck!
     

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