Selling car to out of state buyer...

BudgetPlan1 said:
Any tips, things to watch out for?

Guy from Texas interested in wife`s 2004 Corvette. Corvette Forum member since 2001, plenty of posts so I`m assuming he`s legit. Best payment methods? Cashiers check, bank transfer, ???

Woulda been easier to just trade in methinks but sale price to private gets me a bit more cash than trade-in offer w tax savings would.

https://www.corvetteforum.com/forum...-corvette-coupe-65k-miles-14-500-ne-ohio.html
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I would check out this thread: https://www.carsdirect.com/sell-car...state-buyer-tax-laws-and-paperwork-guidelines

Withholding the Title until the form of payment clears seems to be the most important part of the transaction.
 
I bought a car out of state and flew there, and wired the money. I would do a wire transfer so your bank can verify funds before you release car.

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Wire transfer works well, and I`ve done a cashier`s check too and held the title until everything cleared.

Something else to remember is the plates. Do NOT let the car leave your possession with your plates still on it. This might mean the buyer will be driving the car with nothing but a bill of sale and the title until he can get it back home and get some form of plate from the DMV.
 
I know in Washington if you sell you have to let DMV know you sold it with a bill of sale. Vin will be link to you if you do not even if he registers it. If the amount is substantial I would private sell. It’s up to you if amount of money is worth time and effort. Agree with above post DO NOT transfer title till money is in your account. Also talk to dealer and let them know you are pursuing a sale to private seller. The May up your trade in. There is not a ton of mark up in most new cars so dealers will try to make money by low balling trade in offers. That being said in premium car category their is a little more mark up (new corvette). Dealers may not want to adjust price as is premium vehicle and most don’t want to discount past incentives but they may be willing to give you more for your trade. Use to sell cars (please don’t judge me. Being a giggalo wasn’t panning out). If you have questions feel free to message me.


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Coatings=crack said:
I know in Washington if you sell you have to let DMV know you sold it with a bill of sale. Vin will be link to you if you do not even if he registers it. If the amount is substantial I would private sell. It’s up to you if amount of money is worth time and effort. Agree with above post DO NOT transfer title till money is in your account. Also talk to dealer and let them know you are pursuing a sale to private seller. The May up your trade in. There is not a ton of mark up in most new cars so dealers will try to make money by low balling trade in offers. That being said in premium car category their is a little more mark up (new corvette). Dealers may not want to adjust price as is premium vehicle and most don’t want to discount past incentives but they may be willing to give you more for your trade. Use to sell cars (please don’t judge me. Being a giggalo wasn’t panning out). If you have questions feel free to message me.


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Yep, Bill of Sale is a definite item, hadda provide/create one last month to sell mothers car, settlement of estate required it so have one for this sale ready to go.

Not a gigantic sale amount although making a $14k error in judgement would surely sting.

In the end, private sale is gonna save me some time and inconvenience. Dealer we`re ordering from is 150 miles away so getting trade down there in the middle of winter is dicey when time comes. A few dollars here or there won`t be a deal breaker.

And getting car outta garage ASAP so I can park mine in there for balance of winter definately a plus. Despite wife`s 2004 promise of "If we get a Corvette *I`ll* ALWAYS park my other car outside all year long!"...well, ya know how that goes.

Thanks for the info...
 
Budget, if by any chance his bank has branches in your state, the two of you could go there together and have the teller create a check payable to you. The wire transfer method leaves the buyer completely exposed should you not have the title or the car when he arrives. (Wire transfer is probably the best method when buyer and seller know one another.)

The buyer could also pay you in cash.
 
tom p. said:
Budget, if by any chance his bank has branches in your state, the two of you could go there together and have the teller create a check payable to you. The wire transfer method leaves the buyer completely exposed should you not have the title or the car when he arrives. (Wire transfer is probably the best method when buyer and seller know one another.)

The buyer could also pay you in cash.
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Buyer is in Texas, dont believe he will making trip to see car. Shipping/transport company will be scheduled once funds confirmed cleared by my institution and truck will arrive and cart the whole deal outta my life once and for all.

Sold one of my Mustangs to outta state buyer back in 2009, sight unseen...was just curious if anything significant has changed/come about since then that experienced folks might be able to clue me in on.

Cash is always King but unfortunately not an option in this case.
 
Understood. Last time I did a deal like this I did have the buyer (in FL) wire me the funds and his transporter picked up the car within a day or two. I FEDEX`d him the signed title the day I received the wire.

I also did a complete video walk-around of the car including the interior. I video`d the car being loaded on the transporter and driving away ... :(

The seller was very pleased with the car upon arrival and appreciated my responsiveness in making certain all was OK with the transaction. Personally, I don`t think I would wire money across the country or buy a vehicle sight unseen, but that`s just me.
 
tom p. said:
Understood. Last time I did a deal like this I did have the buyer (in FL) wire me the funds and his transporter picked up the car within a day or two. I FEDEX`d him the signed title the day I received the wire.

I also did a complete video walk-around of the car including the interior. I video`d the car being loaded on the transporter and driving away ... :(

The seller was very pleased with the car upon arrival and appreciated my responsiveness in making certain all was OK with the transaction. Personally, I don`t think I would wire money across the country or buy a vehicle sight unseen, but that`s just me.
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I think that`s pretty much how this will take place, I`m not too worried about it.

Strange that the last time I did this in 2008 there was a nice feeling afterwards, kinda "Wow, when dealing with honest, upright people it`s nice to know that the world isn`t entirely filled with scammers, misanthropes and liars"...a nice bonus to the transaction.
 
Sounds like you got all the correct advice, bill of sale and wire transfer. Just sign your title and mail it to the buyer after your bank confirms it has the moolah and your golden. I’m not sure when is the right time to drop your insurance, but it might be a good idea to hold onto it until the buyer says everything is ok even though technically they bought it and it’s their problem.

When the transport company shows up they should have something that notates all the flaws on the car. Get a copy for yourself in case there is some sort of problem when the car arrives at the sellers location. Take pictures of the car the day it gets on transport for proof the car was in good condition before it left your hands. I sold my Z to a company that buys cars online (Vroom) and got some calls asking me about the condition of the car, I had no problem showing them what it looked like before transport. Not that they could have done anything about it if something had not been disclosed, but I prefer doing things the right way.
 
rlmccarty2000 said:
Sounds like you got all the correct advice, bill of sale and wire transfer. Just sign your title and mail it to the buyer after your bank confirms it has the moolah and your golden. I’m not sure when is the right time to drop your insurance, but it might be a good idea to hold onto it until the buyer says everything is ok even though technically they bought it and it’s their problem.

When the transport company shows up they should have something that notates all the flaws on the car. Get a copy for yourself in case there is some sort of problem when the car arrives at the sellers location. Take pictures of the car the day it gets on transport for proof the car was in good condition before it left your hands. I sold my Z to a company that buys cars online (Vroom) and got some calls asking me about the condition of the car, I had no problem showing them what it looked like before transport. Not that they could have done anything about it if something had not been disclosed, but I prefer doing things the right way.
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Good info...thanks.

I`d be a little wary of buying car sight unseen, long distance. I`ve sent pictures and descriptions of all the flaws i know about and he is well aware he is buying an 18 year old, 65k mile car.

It`s a solid car, driven 90% of the time driven by `a girl` but since we`re the original owners, have about 3 file folders full of documentation, I hope there will be no surprises on either end. He`s been very active Corvette Forum member since 2001 so I was able to follow his history there.

His plans are to modify it far more than it is now so he was looking for a relatively low mileage, one owner car.

I asked but I`m hoping he doesnt want all the original parts cuz diggin those outta the attic and garage will be a bit of a chore.

All`s well that ends well, so I certainly hope it ends well. Worst case, I learn an expensive lesson, certainly painful but also not life and death.
 
tom p. said:
Congratulations on the new car !! What color?
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Well, that`s still kinda up in the air. Since I started caring about cars as more than transportation I`ve always been partial to black but not sure I have the energy for caring/worrying about black.

It`s my wife`s toy so she`ll have some input...I guess.

Elkhart Lake Blue Metallic is a consideration.
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But so is Long Beach Red Metallic.
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Might just end up with black despite the mental anguish associated with it.
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Congrats, those are all awesome colors. I really like the Elkhart Blue. Is this your 1st or 2 nd C7?

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