I'm considering buying a car halfway across the country (it's in San Antonio and I'm in New York), and I'm a bit concerned and uncertain about the whole process.
I feel like I need to get as much as possible set in stone before I commit to flying out, which means doing any negotiating over the phone before having seen the car. I'm planning to have a PPI done by the local BMW dealer - I'm thinking I wait until I see the results before talking price, yes? This is my number one source of anxiety - I hate negotiating over the phone.
When it comes to payment, what's the preferred option? Certified check? Credit card (assuming they'll allow me to charge that much)? We're talking about low five figures - I'm not carrying cash.
Finally, for the flight, my gut says buy a round-trip ticket in case there's an issue; my head says do the due diligence beforehand, buy a one-way ticket, and save a few hundred bucks.
Thoughts? Suggestions? Hard-won advice?
In reply to 02Pilot:
How quickly do you think it will sell? If you're worried about someone else snatching it, you could negotiate a price contingent on it passing the PPI. Not that it would stop someone else from buying it, but you'd at least have a preliminary agreement.
Is there a branch of your bank in his town?
Open your own account at his bank? Therefore you can meet at the branch and transfer right out of your account and into his. All the while, the bank can verify both funds.
Yeah, I'd go with the contingent price. Take his description of the car, negotiate a price based on that, then get it inspected. If it matches his description, you're good to go. If it doesn't then either he's lying (find a different car) or there's something of which he wasn't aware (try to negotiate a new price).
Contingent price sounds like a good plan. I should have mentioned that the car is at a small used car lot, not an individual seller, so they're not aware of the car's history (I did get the dealer service records pulled, so at least I have some info). Ideally, I think I'd prefer to use my credit card if I can, but I'll have to put in a call to AmEx to see how they feel about it.
A small used lot may accept a different payment method than an individual seller, so that may make it easier. Are they willing to have a PPI done on the car?
Yes, they are willing to take the car to the local BMW dealer for a PPI, so there's no problem there.
As far as payment, you could negotiate a price contingent on PPI, send a small deposit, fly in, negotiate final price, call your bank and have money wired to his account. Probably cost you $20 to wire but safer than cash and about same as certified check. It's a digital age, man.
EDIT:You will need to effectuate wire transfer before 2 pm or so so bank can verify funds availability on same day.
While Amex may authorize credit card, dealer probably doesnt want to eat 2 or 3% cc fee.
Good point about the CC fee. While I harbor no enthusiasm for the digitalization of ever-larger chunks of human existence, but in this case I may have to surrender to it.
In reply to 02Pilot:
Lawyer in me recommends that all agreements/transactions be in writing to protect buyer and seller. Safeguard against statuterrorism of frauds and protects both of you. Only needs to be simple plain English document...no need for complex contract...just something both of you understand and agree to.
Are you buying from private party or dealer?
Dealer - small lot, not a factory shop. I certainly intend to get things in writing before I head down to pick it up, assuming a deal is made.
Take the PPI from BMW of SA with a big grain of salt. They gave a car I was looking at from them a 100% clean bill of health but I found multiple issues with the car including minor wreck repair. They may be better with a paid PPI but nothing in my dealings with them would warrant a huge trust factor.
Have you confirmed the car is even a Texas car? Central Texas has a lot of transfers and last I heard almost 20% of the used cars are originally from Texas. Not sure if that is a big factor for you but I know from experience that there are a ton of out of state cars in town being toted as Texas cars but they have only been here a year or so.
You're the second person in the last eight hours to suggest that BMW of SA is not exactly the best place to go. They were not exactly helpful on the phone and wanted three shop hours for a PPI, to the tune of over $500. I found an indy shop that has good reviews and will do it for a third of the price.
It is a Texas car. BMW confirms sale through BMW South Houston, and all service through BMW of SA.
Now the problem is that the selling dealership is being non-communicative and seeming a little sketchy. After much back-and-forth on the phone, I was told that they had the FRM (an electric module that controls a bunch of lights and switches) replaced today. I said I hope they didn't pay to do so, as it's under BMW extended warranty (again, confirmed on my service history from BMW). A quick "I'll call you back" and now nothing. Not answering the phone either. I like the car but the salesman is not winning me over.
I agree with you going to the Indy for the PPI. You should be able to search for them on a BMW forum to get more insight on them, and then give them a call.
I already talked to the indy shop - they were very accommodating. Now, the selling dealer, they're pissing me off. I'm planning to call in the morning and ask for the general manager. Either he gets things squared away or I'm walking.
After reading the various reviews floating around - many of which tend to support my view of this as a typically shady used car lot selling auction vehicles with no real quality control - I'm feeling less and less like they're worth trying to deal with. If they'll actually answer the damn phone and get the car out for the PPI without screwing around I may still go through with this, but the threshold for making this happen is razor-thin at this point.
If you don't mind me asking what model is it? And you might consider asking someone local from the forum to swing by the lot and put their eyes on it. There are some shady dealers out there that sell cards they don't actually have.
It's a 2010 128i. If anyone is in San Antonio and wants to drive by Atlas Motors on San Pedro, go for it. You'll likely be accosted by used car salesman stereotypes in the process.
Having slept on it, I'm less and less inclined to go to the trouble. I'm going to chase down a lead on a much more local car to see if it's still available. If it is, I'm going to focus my efforts there.
We bought my wife's R class from a GMC dealer in Virginia. I lined up a PPI with a local Benz dealer and made sure the seller was on board with the deal going through as long as the PPI came out OK. As we were finishing up the paperwork the sales guy told me that I was the first person to ask for a PPI that bought a car from him in the 6 or so years he had been the "internet" used car sales guy. Some people are just crazy.
And just to close the circle on this one, the sales guy called back to say that, because they were too foolish/lazy/incompetent to see if there was an existing warranty on the FRM, they paid to have it replaced. As a consequence, they bumped the price $500. I told him we were done here. Next!
He probably couldn't call you back right away because he was busy eating a bag of dicks.
Yep, my thoughts exactly. The delicious irony here is that the sales guy is the one who recommended I get BMW's service history on the car, this being the very same document that listed the extended warranty that he didn't know about until I told him the FRM was covered.
I'm going to keep watching the listing to see what happens. They've had it listed for a month and half already, so unless they stole it the depreciation is eating their profit margin. I'm guessing they never sell it and it ends up back at auction.
Is it red with a tan interior by any chance? There is a red 2010 128i auto that has been boinching from dealer to dealer for months. I drove it a couple months ago. It was low miles but had a big scratch on the hood that required the whole hood to be repainted.
Just wondering.
This probably wont be the most helpful comment but is there a particular rush to purchase the 128i? Or is it a rare combination of options and colors?
If not I would keep hunting for one that's more local. There should always be a handful available and reasonably priced on the east coast/ I-95 corridor.
