by RodStRace Tue Oct 02, 2012 6:33 pm
Protection is multifaceted.
First, Does the seller seem trustworthy? Do you have enough contact and personal info to go after them if there is a problem? Have you done a name/business search to make sure you aren't the next in a long line of victims?
Next, do you have someone to independently inspect and verify the van? If it's a 50K vehicle, paying for a pro inspection makes sense. A used van on CL is usually not worth the money, even with a big transport bill looming. There usually isn't bargaining room to have the seller lower the price to cover faults and the inspection costs. Friends, family or asking a Vintage-Vans member to go look at, photograph, take notes and maybe even video it will at least give you more info than just what the seller provides. Also confirm the paperwork is in order.
Next is transfer of funds and paperwork. Usually the seller will send the paperwork (While still holding the vehicle), then you send the money (but have title to back up the money). The amount will determine the best action. For amounts under say 7K, you can transfer bank to bank. Some will open and close a new account for just this transaction to further protect from problems. For amounts over 10K, the banks will report to the IRS. This level may have been lowered recently. This will require a new level of agreement from both parties. Some also will have the transport company handle transfer of funds and picking up the paperwork. However, most economy transport will not offer this service or charge an amount that is not a realistic percentage.
So now you know what you are buying and have paid for the van. You should also have paperwork. Now, the seller has your van at his place and wants it gone ASAP so they are no longer responsible for it. Contact your insurance to find out about coverage once it's in your name.
There are many tales of woe about transport companies and the brokers. Research this and find someone you can trust.
Common issues are missed pickups, dropping the vehicle at a local yard and exposing it to all sorts of damage, transporting it all over so the load pays, missed drop-offs, damage, holding the vehicle for a higher charge, and generally poor communication and care. Know what you are getting into!
Hopefully, you and the seller have a good rapport at this point. It is in both parties best interest to document the vehicle before and as it is being loaded. This can be very useful when you see your beauty the first time and notice things are not as described or shown in the sale pictures.
There will always be surprises, the point is to minimize the bad ones and have a plan to resolve them.
