Out of State car purchase - Advice needed!!!
11-28-2011, 10:57 AM
#1
Super Member
Thread Starter
Out of State car purchase - Advice needed!!!
Im looking into buying a car from a private seller that is out of state and I plan to finance do you guys know of any easy way to do this?
I bought a car a few years back out of state and it required a lot of work, like the seller had to mail the bank the title before the sale was even complete, stuff like that and I don't want to jump though a million hoops to get this guy his money.
Has anyone done this and can you please give me some advice.
Thanks guys
I bought a car a few years back out of state and it required a lot of work, like the seller had to mail the bank the title before the sale was even complete, stuff like that and I don't want to jump though a million hoops to get this guy his money.
Has anyone done this and can you please give me some advice.
Thanks guys
11-28-2011, 11:08 AM
#2
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SOLD 04 E55 Now 93 w124 3.2 sold W210 E55 sold waiting on W211 E63 p030
I bought my car from Cali, and I live in NYC. Luckly for me the owner had an assitant and he took care of everything. Sent my the vehicle's history everything. I had a freind of mine run the VIN at his dealership and everything came back good. He sent me a bill of sale, went to my bank.... fed exed the check. When it was about to clear I had the transporters ready to pick up the car. Really simple.
11-28-2011, 11:12 AM
#3
Does the seller own the car outright?
That will make it easier but he will have to mail the title of the car to the bank before they pay him.
Depends on the bank, but ive had situations where the bank wanted the title before they began finalizing the loan and ive recently had a situation where the bank handed me a check and said "knock yourself out!" Send us the title afterwards.
Now if he doesnt own the car outright, he may have to request the title from the state. Banks are now surrendering the title to the DMV after it has been paid off as opposed to mailing it to you . It is now your responsibility to claim title from the state. This can take up to two three weeks.
That will make it easier but he will have to mail the title of the car to the bank before they pay him.
Depends on the bank, but ive had situations where the bank wanted the title before they began finalizing the loan and ive recently had a situation where the bank handed me a check and said "knock yourself out!" Send us the title afterwards.
Now if he doesnt own the car outright, he may have to request the title from the state. Banks are now surrendering the title to the DMV after it has been paid off as opposed to mailing it to you . It is now your responsibility to claim title from the state. This can take up to two three weeks.
11-28-2011, 01:41 PM
#4
I literally just did this same exact transaction this month. Prior to applying for financing, I got the out-of-state seller's detailed info + VIN, and submitted all the deets directly in the finance application (in this case, PenFed is AWESOME).
The CU mailed me a check signed to both myself and the seller, I flew out to inspect the vehicle, bought it, we both went to the bank and signed the check over to the seller, and I got the title on the same day prior to car being shipped.
Like everyone said, it really helps when the seller owns the car outright.
The CU mailed me a check signed to both myself and the seller, I flew out to inspect the vehicle, bought it, we both went to the bank and signed the check over to the seller, and I got the title on the same day prior to car being shipped.
Like everyone said, it really helps when the seller owns the car outright.
11-28-2011, 05:40 PM
#5
Super Member
Thread Starter
I literally just did this same exact transaction this month. Prior to applying for financing, I got the out-of-state seller's detailed info + VIN, and submitted all the deets directly in the finance application (in this case, PenFed is AWESOME).
The CU mailed me a check signed to both myself and the seller, I flew out to inspect the vehicle, bought it, we both went to the bank and signed the check over to the seller, and I got the title on the same day prior to car being shipped.
Like everyone said, it really helps when the seller owns the car outright.
The CU mailed me a check signed to both myself and the seller, I flew out to inspect the vehicle, bought it, we both went to the bank and signed the check over to the seller, and I got the title on the same day prior to car being shipped.
Like everyone said, it really helps when the seller owns the car outright.
Yeah he has the title in hand. Is PenFed a state specific CU? That is the type of set up I need. I don't think this guy feel safe mailing the title off without a check in his hand.
11-28-2011, 07:51 PM
#6
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3-five-five/ TUNDRA/ 07 997 cab
Try Capital One online. They approve you, mail you a check and your loan starts the day the guy cashes it. If you never buy the car, the loan cancels out eventually. The whole process takes about 5 minutes, if they approve you, they Fed Ex you a blank check to fill out.
11-28-2011, 08:01 PM
#7
Super Member
Thread Starter
Serious? You don't need to provide any documentation?
Trending Topics
11-28-2011, 08:21 PM
#9
Their rates were better than Capital One when I checked, and it's nicer to support a CU with #OWS and all that isht going on.
11-28-2011, 09:47 PM
#10
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Great, thanks guys. The guy actually own a dealership but only sells low value cars and does not provide finance but all the paper work will have a dealer information so I think that might be easier.
11-28-2011, 09:54 PM
#11
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E55 w/ goods, Z32 Project underway
Visit or have someone on the board pay the car a visit with camera in tow. Little recourse once you take delivery. Moulder:"trust no one"
11-28-2011, 10:02 PM
#12
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I would actually go to NJ to inspect and hand the check over then drive it back to NC.
11-28-2011, 10:07 PM
#15
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i bought mine from Cali and am happier than ever... great guy from forum and beautiful car all around... been enjoying it since damm day one it was delivered
11-28-2011, 10:14 PM
#16
Super Member
Thread Starter
This guy is a sponsor on 6Speedonline. I hope he is honest.
11-28-2011, 10:24 PM
#20
Super Member
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Yeah, that is what Im thinking. I have done me research. Thanks for all the info.
11-28-2011, 10:27 PM
#22
Super Member
Thread Starter
Thanks man. Yeah, Im very excited. Im waiting on him to send me the details so I can get my loan sorted out.
11-28-2011, 10:38 PM
#24
Super Member
Thread Starter
Crap, it is 10:30. I need to take my a$$ to bed. Thanks for all you help man.
PS, you 55 looks great. I miss mine but this C should help fill that void.
PS, you 55 looks great. I miss mine but this C should help fill that void.
and has the power to back it up! Thanks, I will hit you up tomorrow.
