Buying a car long distance
 

I am posting this separately as I am looking for information on how to transfer money/title/etc prior to having a trucking company pick up a car.

Anyone out there done this?

How do you go about it?

My thought is to fax a contract, then once it is signed, send the money, at which point he will send the title.

Yes?

Shiny Side Up!
Bill

Think about going through an escrow company --- you give them the money -- he sends them the title -- when THEY SAY the pots right -- they release money to him and title to you. So in other words -- an independent third party.

I've gone through this a couple of times this year myself. My credit union suggested I open a temporary account just for the deposits the buyer was going to do. We did it in three smaller deposits and withdrawls under 10k to avoid an fed's radar (not sure if that's how it works, but why advertise) and I would just verify the amounts and transfer it into my personal accounts. We drew up a simple agreement and faxed it back and forth with signatures and dates. The bottom line is that the car doesn't move unless you have cash or the bank gives the thumbs up that all is clear. Upon completing the transaction, I terminated the ghost account. I don't think the contract does anything but makes people feel comfortable about the deal. Avoid cashier's checks unless you both are at the bank verifying it in person. So many ways now to get scammed, you really have to be overly cautious. If you are the buyer, it's a totally different game.

I sold a car and bought a car this year. In both deals the money was wired.

When I sold my Camaro I had set up a separate account and gave those numbers to the buyer. He went to his bank and wired the money. It was verified in my account within the hour. He didn't ask me to send him the title, he just said to put it in the car stashed away somewhere only he and I knew where it was. The transporter picked the car up the next day.

I bought my 32 3 window coupe in a very similar manner. Money wire is the only way I trust.

Good luck.

I wouldn't send off my car title without full payment. I would ask the seller for a pic and or fax of the title to verify it's legit. Then I would I would do a bill of sale. After that I'd wire the money and arrange for the car to be picked up.

This is how I have always done it, Works fine and it is easy. I have even takin detailed pictures of a title before for the buyer, Just to prove that its a real car

That's how I did mine