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Old 23 Mar 2013, 04:04 pm
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Join Date: Aug 2007
Posts: 24
Default I'm buying an S2000:) no stupid answers please...?

Apparently I'm buying a 2002 S2000

AP1 for the price of 8500 dollars. The guy is from Pennsylvania and brought this immaculate vehicle to Tennessee. The only bad thing about this vehicle is that it does have a reconstructed title however there is and as carfaxs says no structural damage basically the paintjob and the parts to fix the minor accident total was to much. Supposably the bank still has the title to the car. The guy was asking 10000 but I offered 8500 and he is suppose to pay the difference. I've tested the vehicle and it runs amazing the guy seems pretty trustworthy, we sat down for an hour and talked about the loan etc... He's either getting a loan to pay off the difference or ask his dad to pay it off for him. And the bank will send me the title after the car is paid off. Should I trust him with my money? how should I do this? Will it be legit considering he's getting a motorized letter? PLEASE HELP!
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Old 23 Mar 2013, 04:19 pm
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Join Date: Sep 2007
Posts: 319

You go to the bank with him and tell the bank you are buying his car and the title should be written to you.

You give the check in the bank's name to them and he has give the balance of the loan.

The bank sign off to you as the new owner.
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Old 23 Mar 2013, 04:31 pm
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Yes, you can go for it.
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Old 23 Mar 2013, 04:46 pm
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Join Date: May 2008
Posts: 5

Although it sounds good on the surface, there is too much I don't trust about this.

-- It is a 10 year old car

-- Distance between PA and TN

-- Reconstructed title -- have you had a mechanic check it out?

-- He doesn't have the title, the bank does

-- If you pay the bank, he still has to pay the balance in order to get the title

-- Then he has to transfer the title to you

The best crooks in the world "seem pretty trustworthy". I would pass unless he pays off the loan in full and gets the title, then hands you the title when you give him the money. Just a gut feeling.
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