1VetteJocky

I searched around the forum and couldn't find info on this - seems like it's gotta be there someplace.

I will be in the market for a used C6 in about a month. I have three questions regarding buying from the forum members (or anywhere online for that matter):
1) How do you do the money/car swap. I'm not likely to send someone $40K without having the car. And they'll not likely let me ship the car without a check in hand. Kind of a catch 22.
2) How do you get the car inspected. I'm the trusting kind, but only so far. I want the car inspected before I get it shipped. Any ideas on how to do that?
3) How to ship - anyone had great/horrible experiences getting your Vette shipped? Who did you use? Any tips?

Any help I can get on this would be greatly appreciated.

movinlow

I bought my vette in St. Louis and live in Austin, Tx. First thing you should do is get the vin and do the carfax, sure you know that all ready, and I would call your local chevy dealership and give them the vin and have them tell you what work has been done on the car. They told me what warranty work had been completed. I spoke to the guy selling the car several times and felt comfortable with everything and saw plenty of pictures of the car. I then flew out to St. Louis with a check (signature loan at this point, they didn't want to do a car loan until I came back with the title). The seller picked me and my fiance up at the airport. We test drove the car and liked what we saw. We completed the transaction and had a great drive back to Texas.

CubanMissile

While CarFax is a good place to start, it is not all inclusive and I'm sure the majority of us have heard of some hair rising stories from Car Fax certified cars.
Have the seller take the car to a local reputable shop and have them check and test the car. It's well worth the modest investment.
Good luck!

Scooter911

I just sold my '05 to a forum member (Krause). What he did was he called the president of the local Corvette Club to check the car over top to bottom and had pics taken at the same time. He was happy with the review and flew into town this past Monday. My wife and I picked he and his wife up at the airport and we drove him to the car. He looked the car over, I gave him a brief tutorial on all the gadgets and the deal was done. Very easy, and an excellent selling experience for me and I'm sure he would agree it was a excellent buying experience for him.

gillettij

I would buy the car by putting down the deposit. Then fly to inspect. Keeping in mind that usually, especially with the newer model, it will have so few miles that it should be perfect. Pay for it and then either drive it back home or have it shipped. I'd prefer to drive it home. I have done that twice so far. Doesn't that make sense?

1VetteJocky

Thanks to everyone for the excellent advise. Sounds like basically I have the car either taken to someone or have someone go to the car and give the once over.
The big question I still have is this:
More than likely I'll have it shipped because it seems that Boise Idaho is 1400 or so miles from every Vette for sale How does the money/car change hands? I'm not going to hand over a cashier's check without the car and the seller's not going to hand over the car without the check.
Do the shipping companies do this for you? Is there a better way?

Scooter911

He sent me a $1k deposit (non-refundable of course). I told him after receipt of his deposit I would not drive the car and it would sit in the garage until he arrived. Then he flew in and brought the balance in the form of a cashier's check. When he was satisfied the car was what I said it was he gave me the check and I gave him the title. Really simple.

He and his wife are driving it back to Texas from Virginia and making a mini vacation out of it. That's what I'm going to do when I pick my Z up from the museum, hopefully in August. So don't have it shipped, drive it and enjoy the trip.

valdeztke

What if you dont have the title? If its tied up in the bank. I always wondered how that worked....

Scooter911

Good Question..... If it were a local bank or credit union could you go with your check and the current owner and physically be there when it is paid off??? Then have some legal document stating that as soon as the title is received they will expedite it to you?? But with out of state banks and groups like GMAC I guess that would not be possible.

jnx911

I would not release a car to someone with a cashiers check. These can easily be forged, after all it's just a piece of paper.

skipsville

Computers and computer printers are so sophisticated these days that you can even reproduce the "raised" letters/figures of the typical Cashiers Check. I always insist on a wire transfer between banks. I have been in the streetrod hobby for more years than I want to admit and have used this almost exclusively in buying/selling cars. I simply give the buyer/seller my bank's name, phone number and a contact person. They (buyer/seller) in turn give that to their banker. The two bankers do the talking and transfer and keep the two parties out of each other's finances. I've bought/sold over 60 cars using this method and it's never failed. Cashier's checks are too risky. Take a wire transfer or cash only.

When I'm buying, if we agree on a deal and I send a deposit, I ask for a "copy" of the Title. Then I transfer the funds and expect the original Title by overnight. If I'm selling, it's just the opposite. When I receive the wire transfer, I overnight the Title to the other party. I have given you my opinion of course, FWIW.

valdeztke

I got all that .. but what happens when you DONT have the title?

It belongs to a bank..same as the other guy asked?

skipsville

The buyer should be willing to accept a notarized Bill of Sale, signed by the two parties to the deal until the bank releases the Title. As backup, you could provide a cover letter from the bank letting the buyer know that they do, in fact, hold the Title to the car that's being negotiated.

HummelS

The buyer should have the cashier's check made out to both the seller and the lien-holder. I know that with GMAC, it can take 10 days or so to get the title in-hand, so the buyer should get a bill-of-sale from the seller at the time the sale is completed. Make sure the BoS clearly identifies make, model, year, VIN, etc.

warthog34

as for the money switching hands, that's tricky if you aren't going there to meet face to face and see the car.

there are escrow companies out there that you can use that hold the money as an intermediary until you have the car. never used one personally though.

Stangar

I recently sold an 06 Lancer Evolution MR. I was honest and explained my past background, the company I worked for, and the fact I'd lived in the same house 12 years and was effectively selling a brand new car. We talked on the phone and agreed no BS from either one of us would seal the deal. He mailed me the check and I cashed it. It was another 3 weeks before he was able to fly out and pick the car up. I had the car and the cash. Hey, I'm trustworthy and I/we know it.

1VetteJocky

Looks like the tricky part all boils down to the changing of hands. I sold my 2001 coup much in the manner everyone says - buyer flys in, hands me cachier's check and I hand him the keys. In my case, I still had a little left to pay so he had to wait the five days it took the credit union to ship him the title. A little trust on both sides.

But this time is a little different for me. I would absolutely love to fly out and drive my new baby back. But it seems like every vette I find that I like is about 1400 miles away. This makes it hard for me to find a babysitter for a couple of days - I have five kids ranging from 3 to 13. So I've decided to ship instead. It just makes me very, very uneasy to send a check to someone in the hopes that he'll actually have the car in question, it's in the shape he says and he actually ships it to me.

Thanks everyone. You've given me most of the pieces to the puzzle. I'll have to work the rest out (how to do the actual swap, and who to ship with). I'll keep you posted on how I end up doing things.

Another Don

One of my addictions is mechanical wrist watches. You have basically the same payment problems with watches as you do with cars (except there are no bank loans available). You can use a wire transfer to buy the car. Here's how I think it would work...

You send the seller a check to hold the car for you. Then, before you leave town to go see the car, you go to your bank and make arrangements for a wire transfer -- the amount and tentative time frame. Then you go look at the car. Assuming you like it, then you get the rest of the information that's needed to complete your wire and you call your bank to give them the instructions to complete the wire. If the individual has the title in hand, you'll no doubt wire the money to his account and if he still has an outstanding loan, you can have the money wired to his bank. Everybody is happy that the funds have been transferred.

I've wired money across the US and as far away as Zurich and Singapore to buy watches and the system works really well. It's fast (one or two days in US and 3 to 5 days International) and it's certain -- you don't have to worry about faked checks.

Just my 2cents. YMMV

turbolou

Would you marry a mail order bride without first road testing her?

1VetteJocky

So after all the advice I've gotten, I think I've decided to fly out and drive my new toy back. I was planning on my wife and I flying out but couldn't figure out what to do with the babysitter thing, but my wife has graciously agreed to let me fly out myself. That takes care of the whole money changing hands thing as well as the inspection.

Seems the wire transfer thing is something to seriously consider. I've found another forum member with the Vette for me - so I'll leave that part up to him. If he's comfortable with a cashier's check I'll do that. If not I'll wire it.

Thanks again to everyone for all the advise.