Joined
·
4,253 Posts
Who's Elise is this?
http://forums.bimmerforums.com/forum/showthread.php?t=238195
spotted in Missouri...
Neil
http://forums.bimmerforums.com/forum/showthread.php?t=238195
spotted in Missouri...
Neil
Who's Elise is this?
1 - 20 of 21 Posts
I think that was supposed to be my car. The owner couldn't get a title though and auctioned it off to a dealer who can deal with stuff like that better than can an end user like me. He wound up losing other Elise(s) he had on order when he got caught doing something or other. Had he kept his deal with me and been able to close, he likely would have been able to procure the other car(s) still waiting for him.
Stan
Stan
Joined
·
6,822 Posts
I'm fairly certain that is the car that is now/was at Fox Valley. They bought it at an open auction and sold it for $10K over. It was in the showroom on Sat.
This is the same car that was pictured on the highway in FL on the way to the auction.
That is interesting to hear more of the story.
--Josh
This is the same car that was pictured on the highway in FL on the way to the auction.
That is interesting to hear more of the story.
--Josh
Joined
·
2,195 Posts
Poor car.. passed around like bearer bonds for profit.
Won't somebody please drive it?
Won't somebody please drive it?
Joined
·
368 Posts
Well at Mid Rivers in Missouri there is that Frank MacNack guy from Ebay who had his #4 spot for a magnetic blue Elise that was auctioned and re-auctioned several times, but if I recall correctly it was an LSS car with no touring, this is a touring car...
>>>What's an example of why a buyer could'nt "get title through"? Financing? I don't get it.<<<
Simple really. He bought the car, cash and picked it up. He wanted to flip it and he and I agreed on a price, terms, etc. But he could't provide a title to me, as the title still needed to be produced by Florida in the first place. You can't get a title very quickly. So he sold it to a dealer who can do this more easily than can us regular folks. Normally when you buy a new car from the dealer they handle the eDMV stuff for you. Then some time later, no hurry, you get your title in the mail. Here in CT that can take a couple months. But during that couple months it would be hard for that same person to sell that car. Not sure if I'm being clear here and I'm certainly not a paperwork expert. Turns out that he could have gotten a title more quickly from FL, about 5 days. But since some time went by he wound up deciding to sell the car to a dealer for more money rather than keep our deal. Apparently he had or has a number of cars on lists, but at least some have been cut off.
Stan
Simple really. He bought the car, cash and picked it up. He wanted to flip it and he and I agreed on a price, terms, etc. But he could't provide a title to me, as the title still needed to be produced by Florida in the first place. You can't get a title very quickly. So he sold it to a dealer who can do this more easily than can us regular folks. Normally when you buy a new car from the dealer they handle the eDMV stuff for you. Then some time later, no hurry, you get your title in the mail. Here in CT that can take a couple months. But during that couple months it would be hard for that same person to sell that car. Not sure if I'm being clear here and I'm certainly not a paperwork expert. Turns out that he could have gotten a title more quickly from FL, about 5 days. But since some time went by he wound up deciding to sell the car to a dealer for more money rather than keep our deal. Apparently he had or has a number of cars on lists, but at least some have been cut off.
Stan
Joined
·
2,195 Posts
I was wondering about this exact problem with 'flipping'. If I pick up a new car, it's several weeks/months before the California DMV will send me the real pink slip (rainbow now?) title.
If I was selling the car before the title arrives, how would I transfer ownership to the buyer? Is there some form or electronic online thing that's just as binding as signing over the pink slip?
I know if I was a buyer, I wouldn't pay for a car with "title coming later". Seems like it would be a problem for quick-turns.
If I was selling the car before the title arrives, how would I transfer ownership to the buyer? Is there some form or electronic online thing that's just as binding as signing over the pink slip?
I know if I was a buyer, I wouldn't pay for a car with "title coming later". Seems like it would be a problem for quick-turns.
Groundloop you can solve this by not having the car titled.
Yep, that's right, cars don't have to be titled. Just ask the dealer to give you the Certificate of Origin instead. Then load the car onto a trailer and off you go. If you want to sell the car, give them the Certificate at the time of sale, or register it for them. Be careful however its like cash. If you lose it, you are in a heap of hurt.
There are a number of reasons you might want to do it this way. In my case I was purchasing a car in CA and transporting it to OR where I live and saw no reason to pay the CA sales tax as I was not liable for it. Dealer had no problem giving me the Certificate after warning me about losing it, however some dealer protest, sometimes loudly for no reason other than they hardly ever do it this way.
Yep, that's right, cars don't have to be titled. Just ask the dealer to give you the Certificate of Origin instead. Then load the car onto a trailer and off you go. If you want to sell the car, give them the Certificate at the time of sale, or register it for them. Be careful however its like cash. If you lose it, you are in a heap of hurt.
There are a number of reasons you might want to do it this way. In my case I was purchasing a car in CA and transporting it to OR where I live and saw no reason to pay the CA sales tax as I was not liable for it. Dealer had no problem giving me the Certificate after warning me about losing it, however some dealer protest, sometimes loudly for no reason other than they hardly ever do it this way.
Joined
·
2,195 Posts
S1owner, thanks for the tip. I'd never heard of the Certificate of Origin. I found a few web pages that describe the Certificate (with no less than nine security features) and how to submit it to the DMV.
Makes sense though, since the dealers have to have some way to sell cars to each other without titles.
I could see dealers giving you a hard time, since it's out of the norm and they can't bill you for "title and registration".
Makes sense though, since the dealers have to have some way to sell cars to each other without titles.
I could see dealers giving you a hard time, since it's out of the norm and they can't bill you for "title and registration".
Joined
·
2,195 Posts
Does Lotus provide the actual paper Certificate to the dealer? Apparently, Toyota does not -- the dealers don't have them and somehow submit them 'electronically'.
One person needed it and Toyota had to send it to the dealer, who then had to sign/notarize it and send it to her.. took over a week, and I don't want to think about what you might show the officer for 'registration' in the interim.
One person needed it and Toyota had to send it to the dealer, who then had to sign/notarize it and send it to her.. took over a week, and I don't want to think about what you might show the officer for 'registration' in the interim.
1 - 20 of 21 Posts
Join the discussion
