tubaprde

I'm looking to buy an e-class out of state and would like to finance through the dealer (who's 2500 miles away). Dealer states that financing could take up to a week because of the holiday/weekend and that fact that they have overnight fedex documents to sign and return. They're not open to taking a deposit for the car because they say there's been a lot of interested parties... so, according to them, to secure the vehicle for myself (and make sure someone else does not buy it before me with cash or wire) I would have to send them a wire for the entire purchase price. In a few months I'd refi/cash-out with my local credit union and get a loan on the car. Does this sound OK to anyone? is this normal?

They seem like a legit used car dealer with about 200 vehicles in inventory and 20 people on staff. Good reviews on google and no complaints at the BBB.

I've already had an inspection done and it got high marks. I don't want to lose this car to another buyer, however I'm concerned about wiring such a large amount of money. How can I ensure I don't get f'd over? Is there some sort of escrow that should be used? What if I wire money but another customer's wire gets there before mine? Am I worrying about nothing? thanks for feedback

Alex.currie44

All I can add is Caveat Emptor! BBB is not the best reference. Perhaps some state financial authority would be better.
If I were you I would figure a way to be at their door first thing Monday morning with a certified check in hand if you really want this care and do the deal in person and drive the car home. Sounds like you are emotionally involved with this car which is OK but could end up costing you if you are not careful. Sometimes they will do a bait and switch if the buyer is a no show and then you have a hassle to sort it out.
The shipping will cost as much as your air fare so, if you lose it, all you will be out is the air fare not thousands. If you can't do that then perhaps you should be patient and wait for one closer to home. Are there any interstate tax or registration issues to deal with on an out of state purchase?
A bird in the hand as they say.

tubaprde

Thanks for the advise. No, there's not an interstate tax to pay. 2500 miles for me is just too far to drive, and airfare is 900 bucks, so that's hard to justify.

Cocca

Do they take PayPal? That's a good service to work through and you may have additional protections. You might also see if any escrow services are available or even a local (to them) branch of your bank (BofA, Chase, etc) could show your good faith.

Otherwise, I would walk away. Check's in the mail.......I'll still love you in the morning and there are ALOT of people interested in this car are the 3 biggest lies.

MBSebas87

Unfortunately with wire transfers once the money is sent, there's nothing the bank can do to recall that wire. Also, there is a lot of "interested parties" is such a HS!!! I never heard anything like a dealer not accepting a deposit and asking for the whole amount. Sounds a little shady! Be careful and best of luck!

homeofstone

How can you save money after adding the cost of the trip there and back? Also seems like it may be a scam.

CarolinaBluetec

I sold a restored MG to a gentleman in Iowa. We used escrow.com for the transaction. You both sign up with them and you send them the money and they release it to the dealer when you confirm that you have received the car and all necessary documents to title the car in your state. Worked like a charm. It covers you and the dealer. Check it out.

Mud

My friend, there's ALWAYS another car and another good deal out there.
When I hear about a line waiting to buy something I tell them go right ahead then. Funny how that line never seems to materialize.
From the description this doesn't all sound quite right. Negotiation is about hitting the middle of what everyone wants, this seems more like you chasing them to buy. I walk away if any deal goes that route, I won't put the other party in that drivers seat.
I've bought 3 vehicles off the internet with no problems, didn't have to go through any hoops. I also suggest you reconsider your financing source to the credit union you mentioned, be pre-approved for $xxx amount when you are ready to buy. Right now you've given that dealer all of the aces in this deal.

KEY08

I wired the full amount of purchase for a new car last August in Michigan. Flew in, they picked me up, signed some papers, got a transit plate and drove home. Paid additional state tax at my DMV when I registered it. It was painless. I was dealing with a highly reputable franchise dealer. In your case, it is a used car and I assume a used car dealer. If they won't take a deposit to hold the car while you sort out the final financing I would not do the deal. Good luck!

looney100

Walk away. There will be other cars, and there is too much complexity here. At best, you're negotiating froma position of weakness, at worst, you'll lose your money.

thefisch

how much will it be to transport the car? $900 in airfare may be good insurance if this car is the one for you. otherwise, there will always be another one.

Arrie

The "new" car bug has bitten you really bad. You are worrying about a totally wrong thing when you worry how to pay a car dealer for a used car.


The big bright red flag here is that they don't let you pay deposit before you buy it. How do you know what you are buying if you don't even see the car? Trust the inspection? Who did that?


When I traded my 2011 E350 for the 2010 E550 the MB dealer 986 miles away let me pay the $1000 deposit with my AmEx card and then rest of the deal $8000 with the same card after I inspect the car and was satisfied with it. I could still have canceled and got my money back if I found the car not up to what they were selling to me.


I drove the E350 to this dealer, which i found very pleasant to work with. It was called American Service Center located in Arlington, VA. I think their name now is MB of Arlington.


I drove total of 1972 miles to get my car. Each way was 1 1/2 days drive. It is a long way but I got what I wanted.


I would never pay full for a used car before seeing the car. Would have hard time to do that with a new one too.


Walk away from it, that's my advice to you.

starbrite

@op....what state are you in and what state is the car in ? What model E?

CarolinaBluetec

I bought my SLK over the Internet from a dealer in Florida. I sent him $500 bucks via Paypal as a deposit then had the car shipped from Florida to me. If the car is 2500 miles away it will likely cost you at least $900 to ship it. If the dealer won't give you the price and terms you want,WALK. There are tons of E350s available now.

1guitar

Used car dealer and the word "legitimate " are never used in the same sentence.
Let it pass as I can smell the problem from here.

JSch

Walk away!! And quickly.

No reputable dealer will require the full amount in a wire transfer. How sure are you that the inspected car is the ACTUAL car you are buying?

Just my 2c

MBSebas87

hope you're seeing all the red flags here

Johnny Rad

Put eyes on before you part with your hard earned cash.

PeterUbers

Slim shady

$900 is a small insurance policy on protecting $20-50k or whatever this used car costs

pamiboy

I hope the OP sees the fallacy of his dealings with the used car dealer. Even if it is the best car as he thinks I would walk away. There is always a better car and a better deal. Don't forget that new E classes also get great discounts, then why should a used car command a premium . Like someone said it is very hard to reason with someone who has been bitten with a German bug. I sincerely hope he gets an even better deal in his home state by Sunday night. Please please be careful. You can still own a fantastic E class without enriching a USED CAR DEALERSHIP and causing yourself a lot of grief. This is a great forum and you are getting plenty of good advise. Remember..... we all will be most happy for you when you buy a great car at a great price and be satisfied with the car.
RED FLAG !!!!!! WALK AWAY.

tubaprde

Thanks for all your help everyone. I'm gonna let this one go...way too many red flags..

MBSebas87

My man!!!

jbizzle76

Walk away. There are always cars out there. I've sold cars via eBay to folks out of state, but not sure I would do the same and buy. Just too risky.

Critter

Three people to not trust, Real Estate salesmen, Car salesmen, Lawyers.
Life lesson 1

Arrie

+1