Have him (or his bank if there is a lien on it) .PDF scan a copy of the Title to you. Verify, Verify and Verify before you do anything.

The CarFax is nice too, but make him show you the title of the car.

You said he would overnight the title - so that may indicate it does not have a lien. So, get him to do that along with a .PFD scan of his drivers license and insurance card on the car.

If it all checks out - name, address, insurance card...probably a legit deal...

Then you can focus on the other aspects of the car (maintenance history, condition, etc, etc).

In the famous words of Ronald Reagan, "Trust through verification" when speaking about Russia's nuclear arms reduction.


Good Luck ---->

 

After reading a couple of your posts, it seems like you are making this entire process a little more difficult than it really is. I hope you get a deal done soon.

 

If your bank has a branch in Florida, make sure you give them 2 days notice if you need cash. Most banks don't have that much laying around.

 

I have bought a few cars off of the board and one Vette from autotrader. I always look at them myself. Although a fellow member is a great resource, I just feel better about looking at it myself if they give me a thumbs up that it's worth looking at. There is a list of people on the board somewhere in different areas in the country that can help. I'll try to find it and post the link.
I have done the taking out a loan and a bank check. I've done wire transfer. I've done cash.

1. I don't recommend cash. You are in a strange place dealing with a strange person. In my situation, I flew armed (perks of the job) and I can take care of myself, so my risk was limited IMO. This is a pure comfort level type situation that only you can decide upon.

2. I recommend a wire transfer. Wire transfers are the safe way of doing this. It insures the best case scenario for both parties. If he backs out of this, or has a last minute issue, walk away! Go to the bank on Monday and set one up. Get his information and have it ready. Your bank will do the rest and be prepared for the deal.

3. I recommend flying down and doing the deal in person. After you make the deal, proceed to his bank and perform the wire transfer. It will take just a little time. Go have lunch with him. Do this on this Friday if possible to be able to deal with his bank.

4. Write up a Bill of Sale. Have you and he sign it specifying the details. Buyer, seller, car info, price and any other details. Your states DMV or motor carrier website probably has an example of one.

5. Title. Once he has confirmed the wire transfer, if he has the title, have the bank notarize it if Florida requires that. (I forget, sorry) REMEMBER this notary thing. If there is a spot on the title for a notary, then it does have to be done! Don't let him tell you different or it will be a pain in the a$$ to get it resolved once home. IF the bank has the title, they will take your info and send the title to you or your bank. They will need the bank info, so remember to get that and bring it along for ease.

6. If you do have a branch in Florida and you want to do the cash deal, as mentioned above, they will most likely not have that much cash at the bank. I know it sounds stupid since it's a bank, but it's just the way it is. As suggested, make arrangements before hand. I took 15k out of my account to purchase my 00 Vert recently, for a cash deal. It covered the car, trip home from Arizona, trip up to Vegas for the weekend, any mods I wanted to do etc... The Credit Union I am with only had 1k cash left in the vault at that site after I left.

7. As mentioned, a CarFax is worth getting, aswell as pm'ing for the GM service history.

It IS worth the flight to deal in person, and enjoy the shake down ride on the way home. Remember to check those fluids and tire pressures for the trip.

Hope this helps.
Will

 

Cash is a no no. The Govt mandates that deposits over 10,000 be reported and that is a whole new set of problems. As a few of the other guys mentioned, see if your bank has a branch in Florida. If not open an account in your hometown with a Bank that does have a branch in Florida.

Cashiers checks because of counterfitting are treated like regular checks and will take up to 14 days to clear. I sold my car and I told the buyer to gat the name of the bank officer that issued the cashiers check. When I deposited the check, I asked the teller to call the issuing bank to confirm the checks validity. They will then post the check immediately to your sellers account.

Good luck with your buy!

 

Although you are correct, if he's buying the vehicle and decides to pay in cash, he won't be doing the depositing. Therefore, it won't be his issue. There is no reporting for a cash withdrawel of a loan to the Fed's.
I've found that some banks/credit unions will call and confirm. Others, it is their policy to have the clearance run it's course. Just an fyi to the OP/Buyer, you should check with your Bank/Credit Union on their policy or lack of policy if you end up going this route.

 

Then load the trunk with cash and off you go. Leave what you drive down there, you won't want to drive it anymore anyway.

 

Send NO money. If you can't physically go and see the car yourself, it could be a scam. A friend I work with got took for 17K last year on a car that didn't exist!!!
Take the time to go and make sure the deal is for real.
If you do the transaction at his bank, your check or certified bank check would clear electronically.

 

I would recommend slowing down and take your time on this. You seem overly anxious to do this thing.

The sellers insistence on cash only raises red flags in my mind. Traveling with 20 large in cash is an extremely unwise idea, especially in today's economy.

It would be a good idea to do a car title verification with the Florida DMZ. Just because someone holds paper on a car doesn't mean there isn't some kind of problem with the title.

Good luck

 

I apologize if the questions I asked are silly. I've never done a private party transaction before. With dealers it's easy. They can't run off with your money and leave you with no car.

Oh some of you mentioned it's suspicious that he wants cash. That's not necessarily the case. He actually wants to do a in-person transaction. He said he'll pick me up at the airport. And he's fine with bank wire transfer. He just doesn't want to deal with checks. I suppose if I send him a check NOW and wait until it clears before I pick it up, he'd be okay with that too. But I'm not comfortable with that. I want to see the car first.

He has title clear in hand, and that's why he said he can overnight it to me.

Thanks for all the help so far.

 

i'm a lazy ****, I would just look for cars within my state. If you have to jump through hoops, wire this and that, I wouldn't even do it. I'm traditional, I'll meet you within a 50 mile radius, test drive her. The only time I'm going out of my way to buy a car that I haven't seen is barrett jackson.

 

This is a nice car though. I am willing to spend time on it. I'm only afraid of scams. As long as everything checks out I have no problem doing what it takes to get it done.

 

Can you just call a DMV and ask them to verify a title with the VIN? Or do you need the title owner to do that?

I'd definitely want to do that.

 

$20,000 through an airport?
$20,000 meeting a stranger 1,ooo miles form home?
a recipe for disaster!

 

I'm not sure about Florida but here in Michigan I believe anyone can request whats called an instant title search on a car at certain Secretary of State locations for about 20 bucks. I imagine most states would have some equivalent sort of title check.

I have a friend who is a longtime sales manager at a large car dealership and he always tells me you can never be too careful doing a private party deal on a car, too many bad things can pop up.

His advice is to get with the seller, go to the SOS/DMV, do the instant title check. When this proves the car is OK go to his bank with him and do the transaction there via whatever form of cash transfer.

I know this is a hassle and would probably take up a good part of a week day but it would ensure a safe transaction for both parties. If the seller isn't willing to go through this I would look elsewhere and much closer for a car.

 

Can't we just check with the FL DMV? If I ask them "The title owner told me his name is X" and can't they just answer "yes" or "no"? It doesn't break any privacy law since I already "know" who the title belongs to.

I have to meet him on the weekend and DMV's are not opened.

But I got the history report. It's showing it was registered in Gainesville, FL. At least it's not located in like California or something. That gives me more confidence.

 

That's how it works though. If everything was perfect, I would win the lottery too.

 

If I were you, I'd do the following:

talk to the guy on the phone and feel him out.

do a carfax or autocheck or whatever

do a 411 lookup and see if you can actually find the seller.

hop on a flight and enjoy some florida sun.

hand over the cash that you withdraw from your bank in florida (call them from now and order the $$ so you can pick it up in person there
or,
if he's willing to take alternate forms of payment, then do it. Cash advance thru visa is an option, as are many different methods.)

Sign all the docs at the bank, have your receipt ready and your temporary plates/insurance...whatever.

fill'er up with gas, make sure you've got some tunes, your AAA card handy and enjoy the ride.

Life's short. Have fun.
You can be smart and enjoy life.

 

I've talked to him. He sounds legit and explained a lot without me asking.

His area code and his car's title is indeed, in Gainesville, FL.

I have the history report already.

What are the different methods avaliable? Which are safer? more convenient? I don't have any experience regarding this part. What is "cash through visa"? More info please!

As for temp plate/tag, is that for my state or for Florida? I'll check with my DMV on monday when they are opened.

I'll have my shell credit card ready for some V-power .

Oh you missed one thing. I have to make sure there's no snow for the route.

Thanks for the list!

 

The money part is not that difficult. You are making more of an issue out of that than necessary.
Check with your ins co as far as driving it back, differs from state to state.
The car part is much more important.
The seller "sounds" like a nice guy, and very well could be, but you have to take a breath and make sure the car is what it's supposed to be.