05-02-2017, 05:04 PM | #1 |
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Buying out of state Help
Guys, I am looking at buying another M5, this one would be out of state from an individual, who still owes the bank, and the bank has the tittle.
How do I go about this ? Never bought a car out of state, specially from an individual. He said basically pay his bank off then they will send me the tittle ? Then I pay him the balance of the price we agree. How do I protect myself. I plan on flying out to pick the car up in person, might consider having it shipped over.
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2011 550i
2013 M5 2014 M5 CP 2016 550i |
05-02-2017, 11:33 PM | #2 |
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Tell him to arrange it via escrow.com (and for him to pay the fees). When I sold my car privately, they handled almost everything and it ensured a safe transaction for both of us. It's only ~$250 or so in fees for the seller, so it's nbd. Otherwise, you're risking someone paying the car off and holding title while you go through the legal system to resolve.
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