Questions about buying a car site unseen long distance

[bumblebeecamaro]

So here's my dilemma.... I'm located in central FL and I'm looking to buy an SS from someone that's located in Texas. The car owner has a lien on the car and is asking for a $500 deposit from a buyer before he pays the loan off on the car. Of course I'm hesitant on giving someone $500 with nothing in return especially since we're far apart from each other. He also tells me I can pay his loan off in person, then I'd drive the car back to FL for which he'd then send me the title. This of course has me worried about shelling out (let's say $25K cash) that kind of money for a vehicle that I'd be driving home w/o a title in hand.

So I'm puzzled on what I should do. Any advice from anyone that's already done a similar deal like this?

[redcoats1976]

is there something special about this car?i think id look at stingray chevy in plant city,they usually have a good bunch of 5th gen camaros around or check online for a more local car first.

[CamaroDreams76]

Originally Posted by redcoats1976

is there something special about this car?i think id look at stingray chevy in plant city,they usually have a good bunch of 5th gen camaros around or check online for a more local car first.

+1 on this. Whats special about this car?

[Dogmeat]

I can't believe you're even asking this kind of question....Common sense and protecting oneself should enter in right from the get-go

[Deputy347k9]

Regardless of what is special about the car walk lightly. Few years back I purchased a vehicle for my wife that had a bank lien on the vehicle. After deciding the car sounded exactly what we wanted I agreed to meet the owner at their bank to make the payoff. They were actually financed through the Navy Federal Credit Union. I provided the Credit Union with the agreed funds and the seller provided a little extra as I purchased the car below lien price. The Credit Union, not the seller, provided me everything for the vehicle, release of lien and the original title that the credit union provided.

If I were you and was really wanting the car I would take the time to go there and see it in person. You could take a certified bank check for the amount agreed upon and fly over, pay for the car and drive home.

My 2014 came out of Dayton, Ohio. 4,000 mile one owner, special order in the exact color and setup I wanted. After several text messages I telephoned. Next day I called back told him I was flying in two days later from coastal NC. Seller picked me up at the airport and we drove to his home where I found the Camaro to be everything I wanted. I had with me a certified bank check with me, we both went to the local DMV office where we concluded the deal. Ohio DMV provided me with a transport plate, the signed and transferred title and away I went. The savings and the vehicle were both worth the trip. I would do it again.

Larry

[Sir Nuke]

Originally Posted by bumblebeecamaro

So here's my dilemma.... I'm located in central FL and I'm looking to buy an SS from someone that's located in Texas. The car owner has a lien on the car and is asking for a $500 deposit from a buyer before he pays the loan off on the car. Of course I'm hesitant on giving someone $500 with nothing in return especially since we're far apart from each other. He also tells me I can pay his loan off in person, then I'd drive the car back to FL for which he'd then send me the title. This of course has me worried about shelling out (let's say $25K cash) that kind of money for a vehicle that I'd be driving home w/o a title in hand.

So I'm puzzled on what I should do. Any advice from anyone that's already done a similar deal like this?

don't do it....RUN AWAY. UNLESS....after you inspect the car, and it meets with your approval, then you meet at the bank that holds the loan. They understand that he us selling the car to you. you pay off the loan, transfer the title IN THE PRESENCE OF THE LOAN OFFICER, pay him AND the bank sends YOU the title. that is the ONLY way I would EVER do a deal like that.

PROTECT YOURSELF!

[mikeman]

So, the seller wants $500 deposit just to hold the car for you and will send the title after you pick it up and go back home again? That sounds really fishy to me. No way would I take a deal like that.

[Deputy347k9]

Regarding my comments about traveling to Ohio for my Camaro. I DID NOT provide the seller whit any "hold" money, which I would not have done nor recommend doing. He verbally agreed to hold the car "for me" for 72 hours. Once flight reservations were made I again contacted him with the arrival time at Dayton.

[Greenhornet2]

well, if you pay with a credit card it is no different than paying a vendor. If you don't get the good, dispute the charge and get your money back.
It's always difficult when there is no title in hand. I did this with a jet ski. I paid the guys bank directly and took the jet ski home, then just had to wait for the title to come in the mail. It was a little sketchy still, wasn't a fun experience.

[bumblebeecamaro]

Originally Posted by redcoats1976

is there something special about this car?i think id look at stingray chevy in plant city,they usually have a good bunch of 5th gen camaros around or check online for a more local car first.

It's a clean and well preserved car which is what I'm wanting. The car is also packing quite a bit of punch under the hood which is what I'm also looking for.

Originally Posted by Dogmeat

I can't believe you're even asking this kind of question....Common sense and protecting oneself should enter in right from the get-go

I'd like to think I have some common sense but thanks for giving me that helpful comment...

Originally Posted by Sir Nuke

don't do it....RUN AWAY. UNLESS....after you inspect the car, and it meets with your approval, then you meet at the bank that holds the loan. They understand that he us selling the car to you. you pay off the loan, transfer the title IN THE PRESENCE OF THE LOAN OFFICER, pay him AND the bank sends YOU the title. that is the ONLY way I would EVER do a deal like that.

PROTECT YOURSELF!

The seller said that was also an option but of course I'd fear the worse with driving home a vehicle that technically wasn't mine.

[Silveradoss573]

A few years back, my brother and drove to Ohio to buy a 2003 Mach 1 from a fellow member on svtperformance forum. Luckily, the car was very well documented and I knew pretty much everything about the car before I even reached out to the owner. We agreed on a price and was promised that I'd have a title in hand and all the other paperwork needed to register in MO.

He had a lein on the car through a credit union. So the seller, his dad, my brother and I loaded up in a car and started the process after looking at the car in person. We went to the credit union and we informed that I was going to buy the car and pay off the lein. That took all of 20 minutes and we walked out with the title, still in the owner's name though. We then went to the local DMV or whatever it's called in Ohio 15 minutes away. I literally 10 mins I had the car in my name and every piece of paper for registration back home.

Absolutely one of the quickest, most trouble free purchase on a car ever and it had a lien on it as well. We we're on a very tight timeline to be back home later that night so there was no way we would've left without the title and paperwork...fact! I only got 2 hrs sleep and I drove right around 1,000 miles round trip in something like 27 hrs start to finish. Talk about being relieved to be back home knowing everything was done right but holy crap I was tired.

But this all didn't just happen without proper planning the whole week prior. Lots and lots of phone calls including my bank to his credit union to the Ohio DMV along with mine, attorneys etc. Booking a hotel room somewhere where only my brother and myself and a few others knew we'd be becuase I did pay in cash and the seller did recommend a couple of places but we didn't stay at any of those, renting a trailer, setting a timeline/schedule so we could be back on time, etc etc etc. Good luck

[Greenhornet2]

Originally Posted by Silveradoss573

A few years back, my brother and drove to Ohio to buy a 2003 Mach 1 from a fellow member on svtperformance forum. Luckily, the car was very well documented and I knew pretty much everything about the car before I even reached out to the owner. We agreed on a price and was promised that I'd have a title in hand and all the other paperwork needed to register in MO.

He had a lein on the car through a credit union. So the seller, his dad, my brother and I loaded up in a car and started the process after looking at the car in person. We went to the credit union and we informed that I was going to buy the car and pay off the lein. That took all of 20 minutes and we walked out with the title, still in the owner's name though. We then went to the local DMV or whatever it's called in Ohio 15 minutes away. I literally 10 mins I had the car in my name and every piece of paper for registration back home.

Absolutely one of the quickest, most trouble free purchase on a car ever and it had a lien on it as well. We we're on a very tight timeline to be back home later that night so there was no way we would've left without the title and paperwork...fact! I only got 2 hrs sleep and I drove right around 1,000 miles round trip in something like 27 hrs start to finish. Talk about being relieved to be back home knowing everything was done right but holy crap I was tired.

But this all didn't just happen without proper planning the whole week prior. Lots and lots of phone calls including my bank to his credit union to the Ohio DMV along with mine, attorneys etc. Booking a hotel room somewhere where only my brother and myself and a few others knew we'd be becuase I did pay in cash and the seller did recommend a couple of places but we didn't stay at any of those, renting a trailer, setting a timeline/schedule so we could be back on time, etc etc etc. Good luck

It's much easier when the bank is local. When the bank is halfway across the country that holds the titles it isn't that easy lol.

[Silveradoss573]

Originally Posted by Greenhornet2

It's much easier when the bank is local. When the bank is halfway across the country that holds the titles it isn't that easy lol.

Yeah it took California almost a month and a half to process and send the title on my 1le.

[GodWentPunk]

Originally Posted by mikeman

So, the seller wants $500 deposit just to hold the car for you and will send the title after you pick it up and go back home again? That sounds really fishy to me. No way would I take a deal like that.

Until half to way home you get pulled over with a stolen car. I would never send a deposit... and like someone else mentioned, at the end of the day, you need to walk away with a clean title or at least be working with a bank that has released the lean and they are sending the original title.


joe...