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Buying A Classic Corvette

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Old 09-02-2014, 07:37 PM
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JLSmith
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Default Buying A Classic Corvette

I am looking to buy my first Corvette (C2). While I don't yet have a line on the perfect car, I have been thinking about the buying process. In the pre internet days, I would check the want-ads, call the seller, see the car, hand over the cash and take the keys. Now, with the internet, I could buy a car coming from CA to FL. So, let's say I find one on the East Coast, someone on the Forum checks it out for me and it all looks good. Now what? If it is a dealer, they probably have procedures in place. What if it is an individual? Do I bring a bill of sale? What does it include? Do requirements vary by state? How do I insure the title is good? Do I need a Notary? What if I can't get there in person, how does the money/title/car exchange work? I am curious about Forum members experience with buying long distance. Issues, cautions, best practices?
Thanks,
- Jeff
Old 09-02-2014, 07:51 PM
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Nowhere Man
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Bottom line I would never buy any car without looking at it your self. It's great to have it looked at by someone before you fly out and look at it. That helps weed out all the bad cars
Old 09-02-2014, 07:55 PM
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Great questions, and again, you are very wise to get ahead of the unknown.

I have only bought cars and sold cars from/to individuals who were in state, and we went down to the DMV together, buyer and seller.

I did buy my 1965 Corvette in Florida earlier this year (I'm in Virginia currently) from a dealership, and even with all their proficiency in selling cars, they fumbled sending me the title, so go figure.

I'm guessing that the pros that do this a lot will chime in.

Good luck.
Old 09-02-2014, 08:09 PM
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Default Take your time

Originally Posted by JLSmith
I am looking to buy my first Corvette (C2). While I don't yet have a line on the perfect car, I have been thinking about the buying process. In the pre internet days, I would check the want-ads, call the seller, see the car, hand over the cash and take the keys. Now, with the internet, I could buy a car coming from CA to FL. So, let's say I find one on the East Coast, someone on the Forum checks it out for me and it all looks good. Now what? If it is a dealer, they probably have procedures in place. What if it is an individual? Do I bring a bill of sale? What does it include? Do requirements vary by state? How do I insure the title is good? Do I need a Notary? What if I can't get there in person, how does the money/title/car exchange work? I am curious about Forum members experience with buying long distance. Issues, cautions, best practices?
Thanks,
- Jeff
Jeff

I'm in NC and found mine on the internet after the ebay sale failed for the PO.

I put a deposit down after requesting a copy of the title then traveled to the site in PA and drove the car.

I went in on a Friday so I had time to drive and inspect the car - and to ensure access to banks - cashier's check and a notary.

I checked the VIN and Body numbers against online information

I then arranged for a trucking company to pick the vehicle up.

I didn't feel whole until the car was in my garage and the NC inspector cleared the car for license.

There is plenty of information on this form - just ask

Phil
Old 09-02-2014, 08:45 PM
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128racecar
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Having sold a few collector cars, one thing I know for sure- I will not sell one to someone who will not come at look at it in person. I don't want to sell to someone who would not make an effort to see a what a Corvette would look like before plunking down 40-120K+. This isn't like buying a new Honda Accord sight unseen. Even with a Bloomington Gold or NCRS Top Flight car, it deserves to be seen in person. As minimum, a buyer should see it in person to verify it even exists (ask my nephew, who lost 13K buying an exotic motorcycle sight unseen that never existed).

Marc in Indy
1957 Corvette 245 HP 4 spd with 7300 FI installed in the early 60's
Old 09-02-2014, 10:24 PM
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appaloosa 0012
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with everyone. look, listen and feel!! can't do that via internet.
Old 09-02-2014, 10:45 PM
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JLSmith
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Originally Posted by appaloosa 0012
with everyone. look, listen and feel!! can't do that via internet.
OK, OK, I get that I should go see it. I was (am?) planning to but now will do so for sure.
Any other thoughts on the actual procedures when buying out of state in terms of bill of sale, title verification, notary, other things I'm not thinking about?
- Jeff
Old 09-02-2014, 11:08 PM
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LouieM
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Originally Posted by JLSmith
OK, OK, I get that I should go see it. I was (am?) planning to but now will do so for sure.
Any other thoughts on the actual procedures when buying out of state in terms of bill of sale, title verification, notary, other things I'm not thinking about?
- Jeff
Here in CA the title document, or pink slip, has a place for the seller to sign off and the new owner to sign on. If the seller owes money to the bank, then you'll have to go them with him to make sure the loan gets paid off before you take possession of the car. There's also a CA form that the seller is supposed to mail in to the state to inform the latter of the transaction. However, I as buyer would make sure to mail that in myself, to make sure the state knows of the transaction; sometimes a seller lacks motivation to mail in the form. You can hand-write a simple bill of sale, so that you both have a copy. Be sure to let your insurance company know that you're going to look a car out of state, and that you'll be calling them with the car's VIN number before you drive or ship it back home, to make sure you're covered for the trip home.
And definitely get it inspected by a knowledgeable person before you fly out to look at it yourself. If you belong to the NCRS you can contact a regional director and hopefully be put in touch with a knowledgeable person who can inspect the car for you. The Driveline, an every-two-months NCRS publication has tons of Vettes for sale in it. If you don't belong, maybe someone near you will let you look at the ads, then you can join. Enjoy the search for that just-right Sting Ray!
Old 09-03-2014, 10:26 AM
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Beware too that the AR title I had in hand after inspecting and buying my car had a separate box labelled Bill Of Sale on it but my #%£€ TN DMV would not recognize it- probably I could have pushed the issue legally (at ridiculous time and legal expense so why bother) but I had to get a separate bill of sale after the fact or be taxed on NADA average value... About $20k more vehicle value than my driver cost me! Do get a bill of sale. As for insurance you are probably covered by your existing policy for a time, but with a classic I would insure it ahead of time with hagerty or some such co with agreed value before driving off. By the way, if the car has not been sitting, driving it home is an experience NOT to be missed !
Old 09-03-2014, 11:23 AM
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Hey Jeff - I bought my '67 from an out-of-state dealer. I didn't inspect the car in-person but I had someone who knows these cars look at it for me. I did visit the dealership a year earlier and spent a couple of hours talking with the owner and looking at his cars.

I did a thorough search on the dealership before I made my purchase and also talked to several forum members who had bought from him.

I got a purchase agreement / bill-of-sale and title. The dealer had a process in place for payment and paperwork processing so all the administrative stuff went smoothly. The dealer delivered the car to my house.

I'm glad I did my homework checking out the dealership because shortly after I took delivery, the shifter locked up. The dealer brought the car back to his shop, put in a new shifter, and delivered the car back to me, all at no charge to me even though this was an "As-Is" sale. I didn't ask for him to do that . . . he offered to do it once he learned about the problem.

I'm sure I could have found a car for less money, especially from a private seller, but this was the car I wanted and I was happy with the transaction and the car.

If you end up finding the car of your dreams at a dealer, my strong advice to you is to thoroughly check out their reputation, here on the forum and elsewhere on the Internet. When buying from a dealer, reputation is everything.

Keep us posted on your hunt.

-- Steve
Old 09-03-2014, 01:24 PM
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biggd
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I would never buy a car without seeing it, driving it, and inspecting it in person. And I would never send any money before hand. The odds of ever seeing that money again are not good. Try to stick local if you can, within driving distance. Unless you're looking for that special car that there are very few of, there are plenty of C2 Corvettes out there. You just have to be patient. If you have that "got to have it now" mentality then you are ripe pickings for scammers. Go on the forum for sale section and put a WTB add in for what you are looking for. Good luck!
Old 09-03-2014, 01:26 PM
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I've laid out about $600-$750 in professional "long-distance" inspections over the last few years. One for a '61 in Ft. Lauderdale and another for a '69 Z-28 out of state. I passed on both cars and consider the money well spent. Both cars looked good in the ads but had problems that only a knowledgeable person would find.

Both cars I DO now own I flew out to look at myself. My '61 was on a cattle ranch in Columbia, SC and my split window was owned by a forum member in Ohio. Both worked out and I bought the cars on the spot.

I did also personally look at SO much split window 'junk' it was discouraging. Probably 9 cars within the state of Florida. Overpriced, overhyped and money pits.

Be damn careful. If you find something down this way (Orlando) I have the names of several outstanding inspectors...
Old 09-03-2014, 05:54 PM
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[QUOTE=Frankie the Fink;1587745869] I did also personally look at SO much split window 'junk' it was discouraging. Probably 9 cars within the state of Florida. Overpriced, overhyped and money pits./QUOTE]

I hope you didn't look at mine and come to that conclusion.

Bought it in Florida from a Melbourne dealer. It was previously auctioned at Mecum's in Kissimmee in January 2013.

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