[Dreier3]

Hi, I'm in PA and recently looked at a 340i in Illinois. I gave the seller a down payment and we signed and notarized a bill of sale. The seller did not habe the title yet because they just recently paid the car off. They will get the title this week and then I wil purchase the vehicle le in full and arrange shipping. Since I won't be there in person, what would be the best way to finalize the sale? I plan on sending the money by wire but don't know when I should send it in order to not run the risk of the seller just running off with it. Any ideas on how to best approach this? I was thinking about having them sign the title over to me and send it via FedEx before sending the wire. Is that reasonable? Any other ideas? Any tips appreciated. Thanks!

[tturedraider]

You might want to look into escrow services. Or just fly to Illinois and pick up the car in person. Personally, that’s what I would do.

[BimR]

This can be totally legit or very shady. Is it a dealer or private party? Have you seen the car in person? Do you know if the video/pics they showed you are of that same car? What happens if the car delivered is missing a wheel (for ex)? What is your recourse? Are you signing a "as-is" deal?

There is so much information that would be needed for this to go well or totally blow up. Maybe you have all this taken care of and all will be well.

[cfm56d7b]

Is there an opportunity to do a pre purchase inspection?

[Dreier3]

Originally Posted by BimR

This can be totally legit or very shady. Is it a dealer or private party? Have you seen the car in person? Do you know if the video/pics they showed you are of that same car? What happens if the car delivered is missing a wheel (for ex)? What is your recourse? Are you signing a "as-is" deal?

There is so much information that would be needed for this to go well or totally blow up. Maybe you have all this taken care of and all will be well.

I did see the car in person and drive it and the seller seems to be legit. It will be as is of course since it's private sale.

[BimR]

Originally Posted by Dreier3

I did see the car in person and drive it and the seller seems to be legit. It will be as is of course since it's private sale.

My suggestion as also recommended above - do this in-person. An escrow service is the second best option. If you don't do this, what happens if the car arrives "different" than what you saw?

I'm NOT trying to scare you and maybe I am just paranoid. But when thousands of dollars are involved, spending $200 to get to IL is worth it to me.

[Dreier3]

Originally Posted by BimR

My suggestion as also recommended above - do this in-person. An escrow service is the second best option. If you don't do this, what happens if the car arrives "different" than what you saw?

I'm NOT trying to scare you and maybe I am just paranoid. But when thousands of dollars are involved, spending $200 to get to IL is worth it to me.

Do you know of any escrow options. I'm comfortable with the vehicle since the bill of sale has the VIN and the VIN matched the car I looked at and test drove. My concern is really only making sure that the person doesn't run off with my money. That's why I thought it would make sense to wait for the title to be sent via FedEx before wiring the funds.

[BimR]

Originally Posted by Dreier3

Do you know of any escrow options. I'm comfortable with the vehicle since the bill of sale has the VIN and the VIN matched the car I looked at and test drove. My concern is really only making sure that the person doesn't run off with my money. That's why I thought it would make sense to wait for the title to be sent via FedEx before wiring the funds.

I'm sorry I do not have any I can recommend personally. Hopefully someone else will chime in. Good luck!

[tturedraider]

Originally Posted by Dreier3

Do you know of any escrow options. I'm comfortable with the vehicle since the bill of sale has the VIN and the VIN matched the car I looked at and test drove. My concern is really only making sure that the person doesn't run off with my money. That's why I thought it would make sense to wait for the title to be sent via FedEx before wiring the funds.

Here’s one I got from Googling. There are multiple escrow options listed on Google.

https://www.escrow.com/

[Psi5]

+1 on the escrow approach. There are companies that do it and my local bank (not a national one) offers the service as well. Protects you and the seller.