Straight6

iTrader: (2)

man don't sweat it.. you'll get it.. just be patient..

bx167

Cadd, looks like you're pretty much set.

Good for you

BTW, thanks for your help.

EmeraldLexuSC3

Cadd,
I am glad you finally found the one you have been looking for!!! I could not be more happier with mine.
From the sound of it, it looks like you are the one coming out ahead on the deal.

PHML

iTrader: (33)

Cadd...congrats on the ride. What's gonna be your first mod?

Cadd

Suspension and wheels....probably 18s. I'll mount winter tires on the chrome 16s.

3dog

iTrader: (1)

is this the same car you were thinking about before? the one where the story was all fishy sounding?

if this guy owes $22K there is no way he has the title, he has registration but not the pink slip.

to get a clear title in your name that whole $22k is going to have to be paid. if you give $20K where is the other $2K coming from.

don't mean to be a downer but this does not make sense to me. this is a lot of money and i would hate to see you get screwed on this deal.

hope everything is okay but be careful.
3dog

Cadd

Yes, same car. But I will have Lexus check the car out before I buy it. I someone on this board referred me to a tech at the dealership that owns a GS4 as well, so he should be pretty familar with the car.

He states he has the title in is possession WITH the bank's name as the lien holder.

But our new agreement is that I will give him a $1k deposit and he will pay off the car first. After the car is lien free, I will pay him the balance and get the title, the document from the bank saying the loan has been satisfied and the car.

He claims to have the funds available. He needs to liquidate them. I'm sure he has them in his 401K plan or CDs or Time Deposits, stocks, bonds, etc.

This is why he wants me to put down a deposit before he starts moving his funds around so that he can pay off the car. I'm sure when he liquates his investments (such as CDs), he'll be penalize for early withdrawal. This is why he does NOT want to pay off the loan unless he knows I'm dead serious. I think putting $1k down will cover all his expenses/fees if I go back on my word and not buy the car.

I'm going to be careful. But I think I have taken all the precautions I can. I will have the Bill of Sale and all the DMV documentations NOTORIZED (proof that both parties signed the papers at the same time......also proving that the paperwork is not fraudulent).

This is a lot of money for me that took me a VERY VERY VERY VERY long time to save up. I am borrowing money from my parents for this as well (interest free....hehe).

I hope everything turns out well too! I really appreciate everyone's concern. I just hope I'm doing the right thing. I know I will kick myself in the *** if I walk away from this deal and somehow find out that the guy was really legit and really wanted to sell the car.

hawk

i don't think there's a pinto's chance against a GS that this guy has the title....he only has the pink slip. at least in texas, there can be some very sketchy ways around this, but i don't recommend it

said it once....this car sounds too fishy of a deal as in the car equivalent of a girlfriend with WAAAAAAYY too much baggage--and neither the car nor the girlfriend are entirely low budget expenses

....i don't mean to be a party pooper......

you're in ny. there's gotta be plenty of other ones around. i'd think that after having been involved in talking to this guy for sooo long about this car, i'd almost feel guilty about not buying it. like you said, he doesn't have a lot of time to waste, even more of a reason to feel compelled to buy it. i know how sales works.....this sounds like you're getting hosed.

i feel awful to say this, but pleeeaaassseeeeee pass on this one. or *at least* promise yourself that if anything comes up on the Lexus dealer inspection, that you dump the deal. oh, and 22k remaining on a 55k car 5 years after original date of purchase (regardless of if he is or isn't first owner).....that's seems to be a high amount of money to owe

26 yrs old, putting down 20k is a big deal. only if u can put down 20k several times over, then would i not worry about buying this car.....

and btw, if this guy does hose you, then this:
1. the remaining 5k you have won't buy you someone who will keep his mouth shut to do some kneecap reconstuction on this guy. (i'm joking....hahah?)
2. but seriously, 5k remaining may not even be enough to go after him in all the legal ways, too. and then there's still no guarantee of getting back the 20k
3. HE's liquidating accounts/401/cd/ to get you the title??!?!?!!?!?! holy crap, then it's harder to freeze his assets if he does hose you.

remember this, the motto of the defense department audit agency:

"In God we trust, all others we audit".......don't trust someone who has something to gain from you....esp 20k on a car w/ title issues

hawk

p.s. i'm reallllllllly interested in seeing the lex mechanical report or hearing what the mech has to say about the car.

Cadd

The mechanic may be a member on this board.

Angelex and DrewGS4 (spelling of the member names may not be correct).

3dog

iTrader: (1)

[QUOTE]Originally posted by Cadd
[B
He states he has the title in is possession WITH the bank's name as the lien holder.

make sure you see this title, don't take his word on this

[QUOTE]Originally posted by Cadd
[B

But our new agreement is that I will give him a $1k deposit and he will pay off the car first. After the car is lien free, I will pay him the balance and get the title, the document from the bank saying the loan has been satisfied and the car.

this sounds like a scam. like the people in nigeria scam where they have a million dollars in accounts there but they need some of your money to get theirs and of course once they do they will give you half. yea right. do not give this guy $1000 based on good faith unless you can afford to throw it away.

[QUOTE]Originally posted by Cadd
[B

He claims to have the funds available. He needs to liquidate them. I'm sure he has them in his 401K plan or CDs or Time Deposits, stocks, bonds, etc.


why are you so sure he has all these funds have you seen proof?


QUOTE][i]Originally posted by Cadd [/

This is why he wants me to put down a deposit before he starts moving his funds around so that he can pay off the car. I'm sure when he liquates his investments (such as CDs), he'll be penalize for early withdrawal. This is why he does NOT want to pay off the loan unless he knows I'm dead serious. I think putting $1k down will cover all his expenses/fees if I go back on my word and not buy the car.

doesn't this sound like you are hoping all this goes down like the guy has told you it would.

QUOTE]Originally posted by Cadd
[B

I'm going to be careful. But I think I have taken all the precautions I can. I will have the Bill of Sale and all the DMV documentations NOTORIZED (proof that both parties signed the papers at the same time......also proving that the paperwork is not fraudulent).


you have not taken all the precautions you can. you have not seen the title, you have taken his word on that.

you have not seen the maintenance history from lexus. you have taken his word on that one.

have you seen proof of the cd's bonds stocks 401k's or do you just believe that too.

what if the guy just keeps your $1000 and never does any of the things he has led you to believe he will do.

QUOTE]Originally posted by Cadd
[B

I hope everything turns out well too!

I just hope I'm doing the right thing.

bad people love people that trust as much as you do. you don't sound like you believe this deal is on the level

QUOTE]Originally posted by Cadd
[B

I know I will kick myself in the *** if I walk away from this deal and somehow find out that the guy was really legit and really wanted to sell the car.

i'll bet you'll kick yourself even harder if this guy screws you over after you've been warned.

there are plenty of good cars out there without all the drama of this one. your good sense is losing out to your wanting a car. a good salesman or should i say con man would spot you as a mark a mile away. sort of like when a shark smells blood in the water.

hold out for the car you wanted in the first place with the nak stereo. don't be impatient it will work against you.


i know i sound real mean but people lose thousands and thousands everyday buying cars. go back and read your original post this whole thing still smells fishy. used cars are an easy way to get cheated out of your money. do not believe anything you hear and only half of what you see.

3dog

Cadd

That'll be the first thing I'll ask for. If it's not the original, I'll walk. Speaking about that, I think I know how a title certificate looks like (I have one for my 2002 Honda), but just in case I can't find it, if someone has one handy, can you scan and post it up here (of couse with all personal info blacked out).

Yeah, you don't know how many times that thought came to me over the past 48 hours. I probably thought about this every 10 minutes.

I WILL WALK AWAY if something fishy comes up at the dealership.

In regards to the $22k loan left, the car was leased back in late (October) 1999. It was probably a 3 or 4 year lease. That brings us in 2002 - 2003. He decided to keep the car at the end of the lease. Name changed several times....between him and his father (I'm assuming insurance purposes).

So, in 2002 - 2003, he bought the car. I'm sure the residual value of the car was for about $25 - $28k (which was the amount he paid).

The only reason he's selling is because the car is sitting in a garage collecting dust because his job transferred him to Manhattan. He didn't want to commute 3 hours a day on a train....so he decided to get an apt in the City.

Believe it or not, but it's pretty damn difficult to find a Clean well maintained one here! I found several really clean one BUT they're asking over $27k for them!!!!!!

Well, the guilt think is a non-issue for me. I don't feel guilty at all if I walk. I'm don't feel pressured at all in this transaction. He kept mentioning to me that "what's important is that we both have to feel comfortable with the deal".

$20k is A LOT OF MONEY TO ME. I saved up all my life for this! I actually DON'T have $20k saved up. I'm borrowing a nice chunk of it from my parents & an uncle (interest free) Hence this is the reason I can't goto a dealership and get a CPO for $28k.

Thanks for the caution. But I believe after meeting this guy who lives in a pretty good neighborhood, with an elderly father (who owns a Lexus as well) won't really want to mess around. I mean, I can be a total maniac and set his house on fire or do something really close to home right? I'm sure that passed his mind too.

Cadd

3dog, that'll be the first thing I ask for on Friday. If it's not the original, I'll walk.

But with this $1k, I'm entering into a contract. Bill of sale will state all the facts about the car. It will be notorized. Do you think that's enough? I will also CLUB & AUTOLOCK the car in his garage. I CAN'T afford to throw away $1k, but he didn't close the deal with another buyer who offered $1,500 more because the buyer didn't want wire the funds and the buyer didn't want him to be present when he gets the certifed check from the bank. The seller is worried that a certified check can be fraudulent. The seller didn't want to hand over the car to the buyer until the funds cleared. He has his own reservations. He is nervous as well (not just me).

He offerred to do this at first: We goto Chase together. We both sit at a teller's desk. I get the certifed check first.....once he sees this check, he'll transfer his funds into his checking account and then from his checking account he will wire the funds to Key bank (the bank which has a lien on the car). He'll then take my check and deposit it in his Chase acct. If he's willing to do that, I'm sure he really does have the funds.

I will guarantee that it'll be the first thing I'll ask for when I see him Friday.

He knows I'll walk if Lexus' record has a discrepency with what he told me.....he won't get any $$$ until I goto Lexus

He'll have the CLUB & AUTOCLUB to deal with....although both are easy to break, I don't think it'll be worth $1k to do so. He'll know I'll be back for my $1k. I'm sure he doesn't want any trouble at his office, at his nice $5k/month apartment in the city or at his elderly father's house in Long Island (which is where the car is garaged).

I normally don't trust anyone. But I met the guy, and I don't think he's your typical scam artist. But of course impressions can be deceiving. I just hope my gut feelings will lead me to the right direction.

If I get fcuked, not only will I punish myself, but for those who warned me here, please come to my house and give me an a$$ whipping....

It's hard to find a good car with low mileage for a good price. I really can't afford anything nice (CPO). I'm thinking "if I get this at $20, I'd just save myself $8k (compared with a CPO) and with the $$$$, I can start modding.

It's not mean. Everyone here who critized me, I consider a GREAT person. You're looking out for me!

Again, thanks for taking the time out to help me out and give me advice. It is very very very much appreciated.

SC300Es

We'll expect pictures right away. Good luck with the purchase.

Ed

Cadd

Hey Ed,

You're probably working 24/7 nowadays since 4/15 is near. By any chance if you're free tomorrow, let me know if you want to take a ride out to LI with me.