Buying CTR Person to Person in another state

jefxfree

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Hey guys,

Does anyone have any expierence buying from a person online and financing through a bank?

My bank is telling me that he needs to be here to sign the title over, which isn't going to work. Any ideas?
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UFO CTR

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Hey guys,

Does anyone have any expierence buying from a person online and financing through a bank?

My bank is telling me that he needs to be here to sign the title over, which isn't going to work. Any ideas?
I think credit unions can pre approve you and with proper paperwork can cut the check the same day, provided your credit is good. They'll probably need photo of the title front and back, and photo of seller DL. Good luck!
 
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jefxfree

jefxfree

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I got pre-approval from by credit union but when I mentioned that the seller and car were in Alabama but I was in California he said the guy and car would need to be here. The seller mentioned the same things you are, so i'm confused and wonder if my credit union guy knows what he's talking about.
 

akadic

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Just my two cents, unless you are getting the car (assuming it's used) at a significant discount I would probably keep hunting for a new one at a dealer. I checked 30+ dealers before finding mine for MSRP +1k in accessories.
 

UFO CTR

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Hmm, I've just did it with my CTR and several cars before...maybe it's just my CU.
In my cases, I just go down to credit, set down with loan adviser, run thru the paperwork (which is me providing photo of the title, seller DL and mileage of vehicle), then adviser would make me sign a bunch of signatures. To conclude, my adviser would assemble a packet for me to give the seller. The content of the packet is two things: one is the Check in the agreed amount, and second is a "title instruction". When I buy from private party, title instruction will be omitted from the packet, as buyer (me) will now have to go to DMV and pay all the fees, and give the title instruction to the DMV clerk.
 


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jefxfree

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Hmm, I've just did it with my CTR and several cars before...maybe it's just my CU.
In my cases, I just go down to credit, set down with loan adviser, run thru the paperwork (which is me providing photo of the title, seller DL and mileage of vehicle), then adviser would make me sign a bunch of signatures. To conclude, my adviser would assemble a packet for me to give the seller. The content of the packet is two things: one is the Check in the agreed amount, and second is a "title instruction". When I buy from private party, title instruction will be omitted from the packet, as buyer (me) will now have to go to DMV and pay all the fees, and give the title instruction to the DMV clerk.
Thanks for this. Maybe I just need to go in and chat with them.
 

Vdeity86

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Just my two cents, unless you are getting the car (assuming it's used) at a significant discount I would probably keep hunting for a new one at a dealer. I checked 30+ dealers before finding mine for MSRP +1k in accessories.
When did you do this?
 

chi town brat

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I was pre approved by my credit union to buy my CTR in AL. Everything I signed for both the dealership and the loan was notarized.

Now when I bought my EG from GA and brought it to FL We (the seller and I) had to have the Bill of Sale and the GA title filled out stating the car was being sold out of state. I filled out the paperwork to transfer it to FL and the DMV verified the VIN and mileage with paperwork as well. My insurance also covered the car for 48 hours while I brought it back to FL.

The CTR though had to be fully insured in order to receive the loan.
 

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Have the guy sign it with a notary and be done with it.
 


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jefxfree

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I think i'm going to just fly the guy out here to get the title signed. He said he'd knock money off the car.

It's from a person, not a dealer, which is why I think the bank is weird about it.
 

UFO CTR

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I think i'm going to just fly the guy out here to get the title signed. He said he'd knock money off the car.

It's from a person, not a dealer, which is why I think the bank is weird about it.
Yes sir! looks like you've found a good seller that's willing to work with you...good for you! enjoy your new ride! :D
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