Buying a car long distance

[RossGN]

I've just found a car I'm gonna buy in Florida. I've bought long distance before, but not when I was using my Credit Union and the seller had the title outright. My C/U is closed until Monday, but I was wondering if anyone else on the board has bought in this situation. How will the credit union secure the title? I am going to have car inspected/appraised and will have it shipped here. Any one elsee ever done a long range purchase with the above situation?

tia

 

[aperrego]

I feel your pain.. I bought one of my GN's out of wichita site unseen.. Little nerve racking..

When I bought mine it was a cash deal and basically I took the chance of sending money after a couple conversations.. Got the title fedex'd back and did the NC registration..

The problem you may have is the CU.. They are going to want something tangible before they sign over the check.. Unless you have a good relationship with them..

I can see if you have a Certifiable/repituable inspection company look it over and send the report to the bank then they may have a comfort level of doing it with out a title.

I really cannot tell you one way or the other on how the bank will deal with it.. An easy way is a personal loan or home equity and convert it into an auto later.

BTW: RESEARCH THE TRANSPORT COMPANY.. There are allot of them out there and it is a cut throat market.. It took me 2 months to get mine but there was allot of bad weather in KS and the midwest that contributed to that..

Best of luck and congrats!

A

 

[kh440]

I'd have to second the idea of using an unsecured loan or using a different form of collateral. In the process of buying one in CT and how I did it was a combo of a no-string attached loan from USAA and a cash advance from Visa.