Proper way of buying a non local car?

[CHARGED]

This would be my first time buying a car that I would have to fly there to look at it and get it transported home later.
What is the best way to pay for it? He wants a down payment check to hold the car until I can get out there to look at it.
Should I bring the remainder of the money with me? and in what form(cash, bank check, money transfer, ect)
Anybody with this experience let me know the best way of going about this so I can be protected in some way. Car will be about $15k

 

[Gary Wells]

FWIW & IMHO:
1. Do you get the down payment or any portion thereof returned in the event that you decide to not purchase the car?
2. Put as little money down as possible to lock in the deal only if you are sure that you are going to purchase the vehicle. Otherwise, I would take a chance on the car selling. Call the seller just prior to leaving to purchase the vehicle and verify that he still has the vehicle for sale.
3. If you have not agreed to a specific selling price, I would take whatever the seller needs and in whatever form he needs.
I am sure that www.gn/t-type.org has some finer points regarding this

 

[GNandGS]

Bank check in a form you can cancel (shouldnt be a problem) if you dont buy AND for the full amount... have a plan for returning the car in advance....

Will the transportation company store the car? In other words its reasonable to assume you cant get a transportation pickup scheduled WHILE you are there (short notice) but perhaps they have indoor storage? This assumes you are not comfortable leaving with current owner.

Now, if you plan to fib about purchase price for whatever reason dont leave a paper trail such as having a bank check for full amount... or if financing for a CAR loan dont bother making up a price. lol.

Is there a lien on the car? You will need to allow enough time in your visit to iron out details like this.

s

 

[Gary Wells]

I would not take a check for the full amount, or for the balance less down payment for several reasons.
2. I would not lock in on a price until reviewing the car and all of the documentation, inspecting the vehicle, and driving the vehicle.
If the seller pushes on that issue, I would tell him that I will will evaluate the vehicle for his asking price providing that everything else is satisfactory. Ie.;visual, safety, driving, documentation, and so forth.
3. If you are reviewing the car for say, $ 15K, then I would take enough to cover the total amount in increments. Take a cashiers check, if that method of payment is acceptable to seller, for $ 12K, $ 1K, $ 1K, $ 500.00, & balance in cash. Flying to look at a vehicle you will not have a lot of bargaining power, but not taking the full amount will give you some. The alternative is to take a personal check from the seller for the difference.
I would be willing to fly back home without a vehicle than to buy something that I would not be completely satisfied with.
4. The fact that the seller wants a deposit check to hold the vehicle for you almost sounds like he is planning on you not purchasing the vehicle, But he will make the money that you gave him for a retainer. That alone would cause me some concern.
Good luck.

 

[Rick]

I drove from Indiana to Mass to buy a GN some years back. I tried to talk with the owner at length so there would be no suprises. With $14,000 in hand, me and a friend drove all the way out there to buy it. When I arrived I was disappointed in the paint. It would have needed a new paint job for me to be satisfied. That would have meant having at least $18k wrapped up in this car. It wasn't worth it to me and the seller was at his bottom dollar so I drove home in the rental car.
Last summer I sold a GN fixer upper to a gentleman in Missouri. I was very specific that it needed certain things to be a "nice" car. When I delivered it he was disappointed in it. In hind sight of these two events, I would recommend getting high quality JPEGS or even videos of it in advance. A good camera is a few hundred bucks so the seller could easily invest in one of these.
Anyhow, it is dangerous to have that much cash on you and if you do have to go that route, I would do it in form of travelers checks and cash them out when and if you decide the car is for you. Meet the seller at a bank, usually they are uncomfortable about giving their address out anyhow. Good Luck!

 

[GN One Day...]

Originally posted by Wells
3. If you are reviewing the car for say, $ 15K, then I would take enough to cover the total amount in increments. Take a cashiers check, if that method of payment is acceptable to seller, for $ 12K, $ 1K, $ 1K, $ 500.00, & balance in cash. Flying to look at a vehicle you will not have a lot of bargaining power, but not taking the full amount will give you some. The alternative is to take a personal check from the seller for the difference.
I would be willing to fly back home without a vehicle than to buy something that I would not be completely satisfied with.

That's a very good idea, due to the amount of money. When I bought my SC, which was a 10 hr drive away, but a much lower amount of money, I took about 75% in cashiers check, the rest in cash. Limit the cash on hand, just for safety, but you do need bargaining power in case the car isn't quite as expected, but still acceptable--for the right price. If he/she thinks they have you because you've already paid to fly out they won't negotiate cutting a check back to you if you have it all in a cashiers check.

I hope you've gotten a LOT of recent pictures emailed to you already, before flying out. I paid for a dealership to inspect my car and fax me the results too. Peace of mind is priceless.

 

[Gary Wells]

Originally posted by Gn One Day:
"If he/she thinks they have you because you've already paid to fly out they won't negotiate cutting a check back to you if you have it all in a cashiers check."

Oh, they might. However, just to keep everything on an even keel: If they did not want my personal check for the purchase of the car, and I can't blame the seller for that, then, as buyer, I sure as heck do not want their personal check to take back home to see if it clears or not.

 

[CHARGED]

The car has 10k mi on it and he says its in perfect condition, which I sort of believe him. He also sent about 12 pics of the car, they look good but they are not really close up shots, just your normal pics.

He wants me to send him a 5k personal check for a deposit to hold the car, I asked him not to cash it, he said he would not cash it and it would be refunded if I choose not to purchase the car.

Then I would fly out to look at the car, at this time I could have the remainder of the money to pay him or I guess I could have the money wired to his account later.

Then I would have the carrier company come and pick it up as soon as they could. In the meantime it would be stored at his shop where it stored now.
Another question is when does the official notary signings need to be done? while i'm out there?

I have the money to pay for it out right so I would get the title and the banks wouldn't be involved.
He also said I could claim I bought the car for less to save on tax, is there any downside to doing that?
He seems to be on the up and up but you just never know.
Thanks for all the info..

 

[GNandGS]

Varies by state but if you claim too low a price they will look up its "value" and tax you accordingly.

Since you will not be leaving with the car, this gets a little more simple... him being willing to accept a wire for the balance later. It would appear that you are only committing to $5k so far

S

 

[Gary Wells]

I had to be the village idiot or skeptic here, but a perfect 10 K mile gn generally brings a tad more than that. If it was up for grabs at about $ 15K, and it only has 10 K miles on it, don't you think that people in his hometown/homestate would be beating his door down. Even if it's a t-top, that price is still somewhat low.
I would rather have a TR than a gn, but at 15K with 10 K miles on the clock and in perfect condition, I'd be taking the next flight out. I would definitely be interested in hearing the outcome on this, and yes, I am envious. Have you gotten the vin no. from him so you could do a carfax on this. If not, you might want to consider doing that. At a price like that, I wouldn't even look without a carfax.

 

[CHARGED]

Who said its a GN? Already have one of those
TTA and already checked, has a clean carfax.

5k is alot to me to commit to, just being cautious.

Nothing was agreed apon yet in the way of payment but I don't see why he wouldn't accept a wire transfer.

 

[GN One Day...]

Originally posted by GNandGS
Varies by state but if you claim too low a price they will look up its "value" and tax you accordingly.

Since you will not be leaving with the car, this gets a little more simple... him being willing to accept a wire for the balance later. It would appear that you are only committing to $5k so far

S

True, check with your state. I didn't have to pay any sales tax since my car was over 10 years old. No tax and a nice cheap tag.