Hot Rods Buying / Selling a vehicle...?

And there you have the "cold hard FACTS" that can happen. and the stories will continue.
we are talking amounts way above what I paid for my first house..

 

losing $50 to some ***hole ****s let alone $50K! I 1 red flag pops up back away and listen to yourself no matter how sweet the deal. Trust nobody and just because they are on this site doesn't give them sainthood! dealt with more than one ****bag on this site!

 

On car insurance, your insurance company guarantess that you can purchase coverage up to and including the top coverage you currently have on a car with them. It is a good idea to talk to your insurance agent before buying it to make him aware of what your intentions are. I had a car I bought years ago that got totalled from an old lady losing control and sliding into mine as I was on my way home. That was when I found out for sure what the rules are.
When you sell a car to someone you never leave your old plates on the car, unless you live in a state where the tags go with a car, such as South Dakota. It is better to drive a car with no license plates than one with plates that aren't registered to that vehicle for the current owner, the offense is then, fic***ious plates, you may get stopped to be checked without plates, but that is just to prove ownership which a bill of sale and/or ***le will be sufficient.

 

OOOKKK , GOOD INFO... Thanks

 

I can just fax or Email a copy of the Bill of sale and ***le/TOD to my local agent and they fax back a Temp License permit to drive the car.

 

In this day in age one should be able to walk into a branch of the bank he/she deals with in a city in most other states and make the money transfer that satisfies both parties and the bank without packing large sums of cash. The bank can also notarize the ***le and or paperwork at the same time. If you bank with a little privately held bank that doesn't have the resources to do the deal it might be an issue.

From the standpoint of flying with cash in your pocket or brief case. Do***ent what you are using it for. That includes paper copies of the add for the car, The Ebay email that says you won the auction if you got it off Ebay or the emails or messages back and forth on the sale/purchase. I'd have all the info with the cash if I carried cash. Plan on getting to the airport well before your flight and expect to be delayed while you answer questions and probably answer them to more than one level of rank at that airport. You don't want to miss your flight because you are carrying a large sum of cash and aren't giving answers that satisfy those asking the questions. Having the info with you including the phone number of the person you are buying the car from will help you get through the process without a h***le. Some folks on here know that I work at the airport and wear a blue shirt so I have a bit of knowledge on that issue.

On insurance, you should be able to get the car insured (if you are going to buy a specific car) through your insurance company with the vin, year and model and possibly a photo or two before you go or do it by phone or internet when you finalize the deal. I figured out that I could download the proof of insurance to my laptop in case I couldn't print it out.

If you are driving it back to your state check your local dmv or license office for a temporary transport permit. In this state you can get a three day permit that now costs 30.00 but has to have the vin and vehicle ID on it when you buy it. A favorite with WA state rat rodders who have cars that can't p*** inspection.

 

I want to thank all for the input, so far,
and thanks for more that will continue to help.

 

Some good advice so far here, I guess you could deal in any amount of cash, as long as you are not caught by " your local drug force" for any amount over $9999.99. then your cash is confi****ed and you will most likely have to get a lawyer to retrieve it. It doesn't have to be at an airport. There is so much dishonesty out there any more, that the average person doesn't need to carry the larger amounts. I have found that as mentioned above, a new account to move money into and wire money out of, is a really good idea. CLOSE it after the final transaction. Any more, a decent driver of just about any car is north of 20G, and the powers that be are not making it any easier for us to buy and sell cars.

 

My bank must not have these laws...
When I bought my second house last year, I walked into my bank, pulled out 37000$ from my chequing account, and handed it to my morgage broker for the down payment...Nobody even blinked twice. It took less than 5 minutes.

 

WOW !!!! Canadians got it all goin' on......

 

Fly in drive the car and do the bank transfer at the time of purchase. You should make arrangements with your bank prior to flying out and explain the situation to them, they will be happy to oblige you.

It is no longer legal to fly with 10K on your person, there are certain groups of people that have control over that, that are able to make it up as they go.

if you withdraw 5K from your bank in the US the bank has to report it by the end of business, that means that someone other then the bank teller knows how much money you have on your person. Sometimes you get lucky sometimes you don't.

gawd I hate posting things like this it makes me feel like one of those kooks.

 

and the advice continues......

 

When I bought my roadster I had it shipped. However I sent a copy of the ebay ad to my insurance agent and they insured it for that no questions asked before the car left the sellers.

 

LOL I have a wealthy friend that sets up an escrow account for large purchases. When the vehicle (or whatever else) arrives in satisfactory condition the money goes to the seller if it is not as represented the vehicle goes back to the seller.no cash changes hands.

he did that with a fairly rare black on black Camaro (RS/SS) actually had an appraiser look at the car prior to shipping and they did the old bait and switch on him. he didn't loose a dime on the deal even sent the vehicle back COD.

 

My insurance company (State Farm) insists my agent inspect in person (and take pictures of) any vintage car before I can insure it, but ... ANY vehicle I purchase is automatically insured under existing other vehicle coverage for up to 30 days. I agree it's a VERY good idea to inform your agent you are purchasing a new car. A letter from your insurer confirming the car you are driving home is in fact insured under existing coverage is also a good idea. Concerning no plates, you might bring a plate off your regular driver, along with proof of insurance and registration, inasmuch as the purpose of a plate is to identify the registered owner of the vehicle. . Many states will not allow you to register an out-of-state purchased vehicle until it has been inspected by the police for ***le and VIN match. As for payment, in the (maybe unusual) case the seller uses the same bank you do, you can have a bank check issued that the seller can cash immediately. Wire transfers are not instantaneous and can take up to a couple of days to clear (because they are routed through other specialized banks in the system). Good luck.

 

LOL I rode a full dress Harley from Tempe, Arizona to San Francisco back when everyone on a Harley ( and looked like me) was an outlaw. No plates no insurance, just a signed ***le. I got pulled over a few times and quizzed as well as searched (which I had resigned myself as being part of getting pulled over), never ticketed or jailed not even once on that trip.

Today the rules are different, but I have discovered if you are an older guy in an older car you can get them to look the other way. You have to be polite though, which is not always easy for me.

I got my newest (to me) bike in Kansas a couple of years ago. I let my insurance agent know what was up and took the cash needed for the transaction in hand. he said call him with the serial/vin number when and if I decided to buy it and even though I didn't have an insurance card he emailed me proof of insurance that my wife could show on her phone if I got pulled over. So it was 2 hours home on a cold February evening with no tags and no insurance card. No problems, it was not totally legal ( I don't think) but no one gave me any problems.

I am not sure that I would want to crawl into anyone's car and drive it any distance if I were not me. Most guys are not prepared for side of the road repairs and most of what any of us are going to buy hasn't been any farther then the hot dog stand from its garage. What I am saying is yes I would do it but I cannot suggest that to anyone else.

Large cash transactions cross country are usually a pain in the ****. it is not instant in most cases and if you don't want to invest the time or the trust in a deal then it is best to just look for a different deal.

 

Using the plates off your driver is a bad idea, that gets you a citation for running fic***ious plates if you are stopped. Check with your local law enforcement to get the best option, in Nebraska dealers issue an intransit tag that is legal for 30 days, but is not legal for private individuals to do. NE State Patrol told me it is better to drive the vehicle with no plates, than to make my own intransit or to put plates that were not registered to that vehicle.

 

Yep I have been told the same thing. Some states will issue a temp tag at the DMV, Missouri just started doing that in the last few years. I think that the state figured it was better then everyone running around with switched tags.

There is a lot to do when buying a car from someone and part f that is trying to figure out a way to be legal even if it is just on the fringe of being legal.

I drive heaps so insurance for me is right on the edge of being nothing at all, I would not drive a high priced car without insurance or without having full coverage on it. That is just insane.

 

BTTT, Running a plate from another car.. that would be jail time where I live....

 

One more variation on payment transfer I recently learned and used. A couple months ago I bought a car from a guy in MO. It just so happened that he had an account with the same national bank I deal with. I was able to transfer the money to his account by filling in a blank deposit slip (acquired from the teller, or could have used one of his printed ones if I'd had it) with his account number and writing a normal check from my account. Within minutes he was able to verify the funds credited in his account, done deal, no fees, quick and no lumpy socks. Admittedly not likely to be a common opportunity, but another option to be aware of.

 

If you have a banker who knows their business you don't even need a deposit slip. My banker transferred funds from my account to my dad's account with the same bank in another branch at her desk in the bank with just his name and address when I needed to get money to him quickly.

 

you probably went in, in uniform.. tell the truth..!!!

 

.................and perhaps confi****ion and impoundment of your car until it gets sorted out.

 

yepper !!! just so they have sumpthin' to do.

 

The first rule is NEVER buy a car with out you checking it out or having some one with knowledge do it, don't let pictures and lies sway you, you have to see what your buying. I just bought a project car that was advertised as a daily
driver, I guess it could be if you had a friend with a tow truck. Had I seen the car before I bought no way wouls I have paid what I paid, not buyers remorse, just pissed that I let it happen by not seeing it FIRST.