need tips on buying sight unseen | FerrariChat

need tips on buying sight unseen

Discussion in '348/355' started by Badabing!, May 18, 2014.

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  1. Badabing!

    Badabing! Formula Junior

    Mar 30, 2014
    731
    NYC
    I'm pretty close to closing a deal on a 355 I've had my eye on. PPI is happening in a few days. I think I', pretty well versed on how to verify its a clean properly maintained car.

    My questions is more about how to go about transferring funds when I don't have anything physical in my hand. I'm dealing with a private seller and although a nice enough person, I don't think he'll want to be hassled with escrow services and the like.

    Does anyone have any tips on how to go about this part of the deal?
     
  2. johnk...

    johnk... F1 World Champ
    Owner

    Jun 11, 2004
    11,276
    CT
    Full Name:
    John Kreskovsky
    Use an escrow service.
     
  3. 601

    601 Karting

    Dec 19, 2010
    223
    California
    You can run the transaction through eBay Motors for up to $50k of purchase protection.
     
  4. TrojanFan

    TrojanFan F1 Veteran
    Owner Silver Subscribed

    Nov 17, 2008
    5,184
    So. CA & NV
    Full Name:
    Peter
    WHere is the car located? Someone on FChat may know it or can check it out for you.
     
  5. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    That's it
     
  6. SoCal1

    SoCal1 F1 Veteran
    Owner

    Jun 14, 2011
    8,636
    SoCal LA/OC/New Mexico
    Full Name:
    Tim Dee
    escrow

    Keep the honest people honest
     
  7. plugzit

    plugzit F1 Veteran
    Silver Subscribed

    Dec 1, 2004
    7,792
    Redondo Beach, CA
    Full Name:
    Bruce Bogart
    Send the deposit.
    Go buy it yourself.
    Take the time.
    Spend the money.
    Drive it home.
    It'll be epic.
    Should be more than just a financial transaction.
    Should be a life experience.
     
  8. RS6bird

    RS6bird Formula Junior

    Mar 20, 2006
    316
    Lisbon, Portugal
    Full Name:
    RS6Bird
    + 1 totally agree.

    Did this with the 308GTB I bought, also sight unseen...drove it 600 miles non-stop the day I picked it up.
     
  9. johnk...

    johnk... F1 World Champ
    Owner

    Jun 11, 2004
    11,276
    CT
    Full Name:
    John Kreskovsky
  10. bobzdar

    bobzdar F1 Veteran

    Sep 22, 2008
    6,918
    Richmond
    Full Name:
    Pete
    +1, one of my favorite memories was doing a weekend trip to get mine a thousand miles away.
     
  11. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,785
    Ontario, Canada
    Full Name:
    Mike
    I did all of this except the drive it home part (due to time constraints)

    If I had the time, I would have driven if home.
     
  12. ndpendant

    ndpendant Formula Junior

    Jun 5, 2010
    636
    Chicago- west burbs
    Full Name:
    Paul
    did the same thing with my first purchase, flew out, drove it home. wouldn't do it any other way.
    Nd
     
  13. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    Unless you are bringing a bag of cash, most private sellers will not accept a check, even if it's a bank check. They may agree to let the car go with a bank check and hold the title until the funds clear which is OK.
     
  14. WATSON

    WATSON Two Time F1 World Champ
    Owner Rossa Subscribed

    Sep 9, 2010
    23,912
    WI
    Wire transfer.
     
  15. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    Yep, but that does not address the OP's concern about paying before getting the car. I was addressing the issue of trying to pay in person.
     
  16. plugzit

    plugzit F1 Veteran
    Silver Subscribed

    Dec 1, 2004
    7,792
    Redondo Beach, CA
    Full Name:
    Bruce Bogart
    You go to the bank together and do the deal. A bag of legal tender is always acceptable.
     
  17. stevew3765

    stevew3765 Formula Junior

    Oct 27, 2012
    716
    Tulsa, Oklahoma USA
    Full Name:
    Steve Wool
    LET ME TAKE THIS ONE! LOL
     
  18. Badabing!

    Badabing! Formula Junior

    Mar 30, 2014
    731
    NYC
    Car hasn't had a major/ belt service in 6 years and its a 7 - 8 hour drive.

    What do you guys think?
     
  19. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,521
    Best tip?

    Don't buy a car like this sight unseen.
     
  20. plugzit

    plugzit F1 Veteran
    Silver Subscribed

    Dec 1, 2004
    7,792
    Redondo Beach, CA
    Full Name:
    Bruce Bogart
    Driven regularly?
     
  21. M. Brandon Motorcars

    Sponsor

    Sep 4, 2007
    1,846
    Houston, TX
    Full Name:
    Michael Foertsch
    I'm a dealer and have to deal (no pun intended) with this situation all of the time. Of course, I'm usually the one that people have to trust (as the seller), but I also buy cars sight unseen all of the time.

    I never wire money without a signed bill of sale and a copy of the title, front and back. Of course, verify VINs as best you can.

    Ultimately, someone has to trust someone. Sure, you can use escrow if you don't have a good feeling about the situation. However, if I didn't have a good feeling, I wouldn't buy the car sight unseen to begin with.
     
  22. vvassallo

    vvassallo F1 Veteran

    Aug 4, 2006
    8,329
    Palos Verdes
    Full Name:
    Vince V
    You guys are far more trusting than I. Never buy sight unseen. Always get personally involved in the transaction before you write a check. Drive it, smell it, pour over it and bring your best, wisest and most experienced friends to share the experience. After you do your PPI and buy it, then drive it all the way home with your best road rat buddies.
     
  23. taz355

    taz355 F1 Veteran
    Owner Silver Subscribed

    Feb 18, 2008
    6,059
    Indio Ca/ Alberta
    Full Name:
    Grant
    I agree with most go and test drive it at the very least make arrangements at a local bank check for a clear title, verify numbers, and if it feels good buy it. If it's to good to be true double check everything.
     
  24. Badabing!

    Badabing! Formula Junior

    Mar 30, 2014
    731
    NYC
    Thanks guys
     

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