Vehicle escrow service - Vintage Mustang Forums

 
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post #1 of 5 (permalink) Old 01-16-2013, 08:50 PM Thread Starter
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Vehicle escrow service

Anyone here ever use a vehicle escrow service to complete a long distance car purchase? I guess the idea would be that you send your funds to a third party, who then verifies payment and instructs the seller to ship the car. Once the car is received by the buyer, the third party releases the funds to the seller.

Any other recommendations on how to complete a safe long distance auto purchase transaction?

1965 fastback - 289-4V, auto, deluxe interior, power steering, power brakes, air conditioning

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post #2 of 5 (permalink) Old 01-16-2013, 10:18 PM
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Yes, fly out to look at it. That's how I got my '95. Flew to VA and drove it home. If it was junk, I was screwed since it was a one way ticket and the owner picked me up 60 miles from the airport!

1966 GT Fastback, restoration almost there! Code T Red with White LeMans stripes.
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post #3 of 5 (permalink) Old 01-17-2013, 07:02 AM Thread Starter
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Quote:
Originally Posted by ScottsGT View Post
Yes, fly out to look at it.
In my example, I'm working off the assumption that a pre-purchase inspection has already been completed. At that point, I'm wondering what other buyers have done to make sure they receive the car and title after sending money.

I agree that picking the car up in person with certified funds is the most secure way. This is realistic for a car within a certain distance that can safely make the trip home on good roads. What about a car that has to be transported, either because it can't make the trip, or it's too far away, or the road and weather conditions are poor?

1965 fastback - 289-4V, auto, deluxe interior, power steering, power brakes, air conditioning

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post #4 of 5 (permalink) Old 01-17-2013, 07:21 AM
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What some others have done; befriend a VMF'er that's local to the car in question and have them diagnose and photo it.
...sort of have them be a go-between.

Slowly restoring and improving dads '68 289 Coupe...
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post #5 of 5 (permalink) Old 01-17-2013, 09:42 AM
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You could draw up a contract and have a lawyer handle the transaction or escrow.com, which is used for eBay transactions.
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