Hello, I am considering purchasing a M3 from a private seller out of state. I contacted the local chapter of the BMWCC and they refered me to a reputable mechanic that can do a pre purchase inspection for me. i I also have received quotes from a few enclosed trailer shipping companies so that won't be an issue. But where I need advice is the payment & paper work. How do I go about paying the private seller? I don't want to pay him and then him disappear with my money, so does anyone have any advice on this? Thanks in advance, corbin
Do the transaction at the sellers local notary/dmv (depending on the state and how title transfers are processed). This was way the title will be in your name and the seller receives his/her money with a witness.
2014 Toyota Tundra - 2011 BMW X5 35d - 2007 BMW 335i - 2005 Yamaha R6
2006 BMW 325xi (sold) - 2002 BMW 325i (sold) - 1994 BMW 325i (sold) - 1992 BMW 735i (sold)
So is there anyway for me to do this transaction remotely? (without flying out there)
I do this all the time
Wire them half (or at least a large deposit, $500-1000), have them overnight you the title and any other applicable paperwork to transfer the title to you
Once the title is received, send the other half and greenlight the shipping company to pick up the car
Easy. But you have to trust you wont be scammed and this comes from having talked to the seller. If you are concerned about it being legit, buy the cheapest round-trip ticket you can and transfer the paperwork in person. Not much else you can do to avoid that. There may be some escrow agencies that will hold the money until the title is transferred but I imagine most of these would charge as much as a plane ticket or more.
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2014 Toyota Tundra - 2011 BMW X5 35d - 2007 BMW 335i - 2005 Yamaha R6
2006 BMW 325xi (sold) - 2002 BMW 325i (sold) - 1994 BMW 325i (sold) - 1992 BMW 735i (sold)
Call and ask the dmv you may be able to use a power of attorney
Some states do, most dont. And most that require both parties be present usually have ways around this if the buyer isnt there in person, such as giving someone power of attorney as above poster mentioned.
Going into my TENTH YEAR of providing high quality reproduction BMW fabrics!
PRICE CUT on ALL FABRICS
Offering the best prices on the best quality reproduction fabrics!
Thanks for the help!
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