Buying a vehicle from a private party - advice needed

[Husker95]

I am looking at buying a truck in the nearfuture and am thinking about a private sale (Craigslist, etc). How do you handle a private party autopurchase with only a minimal chance of being screwed? Interested in transfer of title, receipt offunds and all that. I haven’t bought aprivate sale vehicle in over 20 years so just want to get a refresher on the currentbest practices. Hopefully I will be onthe sell side with a 2001 F-150 4x4 soon as well.

Husker95

[Great-Kazoo]

Cash is king for getting a good deal.
Know the book value PLUS what they are selling for in your area. If you need an emissions test, can it pass. For $$X pay a trusted mechanic to give it a once over. The money invested up front could mean money saved down the road. Regarding carfax, unless an issue was reported, it will not show up on a CF report.
IF the seller say he/she does all their own work, have them show you the receipts for parts purchased. Oil changed at a jiffyoilcanrapid shop. Those places have records of their service work.
IMO, If there are no receipts, there was no work performed.

BTW: it's not a private purchase, it's a vehicle you purchased form one other than a dealer. Or as we say, i got it from the guy down the block

[drift_g35]

My brother just got a car through Craigslist. If you are going to be financing it, you will need to "Close" at your bank with the current owner. This will allow the bank to get the title instead of you since they will be carrying the loan. I think if you finance a vehicle that is being financed by the sell it turns in to a clusterfuck.

If you are not financing, bring a bill of sale and make sure he signs in the right spot for the title. I traded a vehicle to ChunkyMonkey and the title had been signed in the wrong spot and it was a pain in the ass. Not because it was hard to do, but because it took up so much of both of our time.

Good Luck.

[rockhound]

if you are meeting a craigslist seller go woth someone. esp if you have cash in hand.

i have done many deals off craigslist, but you never know who you are dealing with,

i would not look at anything that does not have a current emmissions that can be used to transfer title, if they have a clean car that is not falling apart or that they are not afraid won't pass emissions they will have the proff in hand.

[kidicarus13]

ID the seller and make sure their name matches whay is on the title. If they want to explain why the names are different, run!

Check to see if vehicle is reported stolen- https://www.colorado.gov/apps/dps/mvvs/public/entry.jsf

Have a trusted mechanic give it a once over.

If worried about it passing emissions give the seller $25 and tell him a passing emissions test will be required as part of the sale.

[SouthPaw]

ID the seller and make sure their name matches whay is on the title. If they want to explain why the names are different, run!

Check to see if vehicle is reported stolen- https://www.colorado.gov/apps/dps/mvvs/public/entry.jsf

Have a trusted mechanic give it a once over.

If worried about it passing emissions give the seller $25 and tell him a passing emissions test will be required as part of the sale.

Pretty much nails it. If you have the chance, bring a mechanic or set up an appointment to have it looked over. Most shops can do a once over for half of their hourly rate. Be courteous of the sellers time though as this can be a bit of a hassle for both parties. I worked at a mechanics shop and you would be amazed some of the vehicles that the seller stated "nothing is wrong with it" and what can be found. Not saying all sellers are this way because some people assume because it runs and drives, nothing is wrong with it.

If the vehicle is registered and has current plates it passed emissions recently (where required) but be careful as buying from a private party does not mean the seller has to provide you a vehicle that passes emissions. Private car sales in Colorado are AS IS. Once you had them the money and they hand you a signed title it's yours. Get a bill of sale also. Match the vin number on the title with the one that is on the vehicle.

[Sharpienads]

All good advice. Also, El Paso county requires a certain bill of sale, so I would check your county's website and make sure you get the right one if necessary.

[Husker95]

Great advice guys - thanks. I am pre-approved through my CU soessentially will be a cash buyer. If theseller is still financing the vehicle, do I just insist on going with them tothe bank/lender that is holding the title so I pay the bank, take the titlein-hand and the seller takes difference between the note and what I ampaying? Do any of you leave thetransaction with the bill of sale and wait for lender to send the title or isthat bad juju? The last time I did thiswas in 1991 and I waited about 60 days to get the title - was a nightmare.

[SouthPaw]

Great advice guys - thanks. I am pre-approved through my CU soessentially will be a cash buyer. If theseller is still financing the vehicle, do I just insist on going with them tothe bank/lender that is holding the title so I pay the bank, take the titlein-hand and the seller takes difference between the note and what I ampaying? Do any of you leave thetransaction with the bill of sale and wait for lender to send the title or isthat bad juju? The last time I did thiswas in 1991 and I waited about 60 days to get the title - was a nightmare.

I have done it both ways. It is so much easier to go with the buyer to the bank to get the title. I purchased a motorcycle that still had a lien on it and it took about 45-60 days before I saw the title. I look back on it and I am glad it worked out but you cannot trust anyone to give you the title. I would never purchase a vehicle without knowing 100% where the title is.

[vim]

I will NOT make a private car purchase unless the seller agrees to have the car checked, BEFORE the sale, by my mechanic, whom I'll give the heads-up that it's a potential purchase. This has saved me grief through the discovery of hidden problems. I've negotiated lower price, and I've also walked away, as a result of this. I didn't do it once, when I was young, and got screwed.