The Lotus Cars Community banner
1 - 8 of 8 Posts

·
Registered
Joined
·
163 Posts
Discussion Starter · #1 ·
Been working on downsizing my garage lately and have couple of people interested in buying the car that will have to have it shipped (or drive 2500 miles in winter). I was wondering what is the standard procedure in these situations?

My take would be:

0. We sign / fax each other a bill of sale
1. Buyer sends me a check
2. Check clears
3. Car gets picked up by the shipper
4. I FedEx the buyer my title, signed over to the buyer (car is not financed).

Am I on track?
 

·
Registered
Joined
·
429 Posts
I have bought/sold quite a few vehicles over the internet, mostly Ebay.

It takes a little trust on the part of both parties involved, the way you have it laid out is pretty much the way it goes.

But the bottom line is do not release the vehicle or sign over the actual title of the vehicle until the funds are IN your account. You notice I stressed the word IN, no matter what method of payment the buyer uses, check, wire or what have you, be sure and telephone your bank and ask them if the funds are in your account and are completely clear, not just deposited.

As to the final transfer of papers I have done it by turning them over to the shipping company driver who normally places them inside the vehicle, or by overnight delivery service to the buyer, I usually leave that up to the buyer to decide. I also have them pay for this service if they request the overnight thingy.

Todd
 

·
Registered
Joined
·
163 Posts
Discussion Starter · #3 ·
Thank you for confirming my guesstimate of the procedure. I guess now it's up to the buyer. Trust is a difficult thing to find these days.
 

·
Premium Member
Joined
·
3,041 Posts
The other way is to find a nice Lotus guy that both of you trust to do the deal. I have done deals for other Lotus owners and others have done the same for me.

Lotus is a small world...but we are all over the country. I have sent the checks to a guy in CA...he did the deal for me and sent me the title. Car then waited for pickup.

Perhaps your buyer knows a Lotus guy or a Ferrari guy...or what ever type car you are selling somewhere around you.
 

·
Registered
Joined
·
2,795 Posts
It's probably safer to run it through a dealer or have them fly in to check out the car then drive it back or ship it back. I bought my Elise all the way from PA, the seller was awesome and drove it to me.
 

·
Registered
Joined
·
2,524 Posts
You might look at escrow.com or another such company...

They verify the funds for the seller and release them when the buyer accepts shipment of the car.
 

·
Registered
Joined
·
1,566 Posts
Thank you for confirming my guesstimate of the procedure. I guess now it's up to the buyer. Trust is a difficult thing to find these days.
My wife and I were bamboozled by a long distance vehicle purchase.

If I may make a very humble suggestion: Get a good camera and take some high quality photos of ANY damage that may be on the car. List every bit of damage/defect on the car all the while keeping in mind that something that's small to you may be a big deal to someone else.

Good luck in your sale.
 

·
Registered
Joined
·
163 Posts
Discussion Starter · #8 ·
Looks like it might get resolved without the cross-country adventure. Prospective buyer made a 5-hour drive this weekend to look at the car and consequently I got it inspected at the local dealer today. Turns out I drive like a grandma according to the ECU dump.

Thanks for the feedback!
 
1 - 8 of 8 Posts
Top