BMW M5 Forum and M6 Forums banner

1 - 10 of 10 Posts

·
Administrator
Joined
·
868 Posts
Discussion Starter #1


Is it safe to buy a car online? It is with Escrow.com’s Vehicle Escrow

Escrow.com is a secure and licensed partner for your auto purchase. Whether you are buying or selling a vehicle, Escrow.com protects you with a simple 5 step process. Once the Buyer or the Seller starts the process, Escrow.com oversees the transfer of the money and delivery of the vehicle. No matter where the vehicle sale originates (online classified ad, internet auto auction, vehicle sales website, etc.) Escrow.com can ensure a safe transaction. Learn More

How Does Vehicle Escrow Work?

Both Buyers and Sellers benefit from using Escrow.com, a neutral third party, to monitor and transact the exchange of the money and vehicle. The Buyer sends the money to Escrow.com, and then Escrow.com alerts the Seller to send the vehicle to the Buyer. This gives the Seller peace of mind, the Seller does not ship the vehicle until the full payment is verified, so he is protected from fraudulent checks and money order scams. Escrow.com does not release the money to the Seller until the vehicle has been received and approved by the Buyer. This provides online car buyers the same security that off-line car buyers have, the Buyer reviews the vehicle before the money is sent by Escrow.com to the Seller. The cost of our secure auto escrow service is very low, and can be paid by the Buyer, the Seller or shared between them. Learn More

Lien Payoff Service

Protect yourself when buying or selling a vehicle. Guarantee that the current lien is paid off by having Escrow.com confirm current payoff amount, send title release instructions to the current lien holder and send the payoff check to the lien holder at the close of your Escrow.com transaction. Learn More

Vehicle Title Collection Service

Guarantee that the title will arrive safely to the buyer. With Escrow.com’s Title Collection Service the buyer and seller can guarantee that the title for the vehicle arrives safely. After funds are secured in your vehicle transaction, the seller sends the signed title to Escrow.com. Escrow.com scans the image and sends a copy to the buyer for confirmation. Upon the buyer authorizing payment to the seller, Escrow.com sends the title to the buyer. Learn More
 

·
Registered
Joined
·
192 Posts
Has anyone else used Escrow.com or another escrow service, I am trying to work out arrangements with a private seller and I need a painless reputable escrow provider.

thanks

rg.
 

·
Registered
Joined
·
434 Posts
Has anyone else used Escrow.com or another escrow service, I am trying to work out arrangements with a private seller and I need a painless reputable escrow provider.

thanks

rg.
Hey rg,

I just purchased my M5 from a fellow board member using escrow.com. The process is great because it's very streamlined. I only used it because I have never purchased a car from a private party without actually picking it up. It turned out to be totally unneeded in my transaction as the seller was such a stand-up guy. But how do you know?

The service they provide is legitimate and valuable; but their customer service can be a bit lack-luster in responding to unforeseen circumstances. I paid the additional fee for them to handle the processing of the title (I wouldn't do it again) and somehow they either lost it or it's lost in the mail. It's been about three weeks and the poor seller is waiting for his money. Just have the seller send you the title directly - and via a method with tracking information (for both parties).

An escrow service rather unfairly helps the buyer over the seller in most instances - which is great if you're the buyer

Also - if you're having it shipped, and they cover your area, I had a GREAT experience with Auto Shipping Group. Stephanie over there got me a fully enclosed transport for the price of an open one. Great service even though they are only a broker they seem to have a good book of shippers.
 

·
Registered
Joined
·
192 Posts
great. thanks ... sorry to hear about the escrow.com issue. but one question, if I have the seller send me the title directly how do I ensure that the funds are "safe" until I get the car.

is there a way in escrow.com to just escrow the cash and not mail them the title? I'm unclear about what you mean here.

thanks

RG
 

·
Registered
Joined
·
434 Posts
great. thanks ... sorry to hear about the escrow.com issue. but one question, if I have the seller send me the title directly how do I ensure that the funds are "safe" until I get the car.

is there a way in escrow.com to just escrow the cash and not mail them the title? I'm unclear about what you mean here.

thanks

RG
Their base fee does not include the title service. So that's what you want to use. They will hold the funds in escrow until you actually go into the web site and say "everything is good". This is technically just a "You have received the car" link - but you could not click this until you had received the car as well as the title I would assume. So you are protected, in that the funds are held in escrow, until you press that button.
 

·
Registered
Joined
·
192 Posts
Unfortunately, my seller didn't want to use an escrow account cause he's a card-carrying Luddite and the ones and zeros seemed to upset his stomach.

seriously, he didn't want to use it and it ended up cheaper for me to come out to him and pick up the car.

thanks all.
 

·
Registered
Joined
·
434 Posts
Unfortunately, my seller didn't want to use an escrow account cause he's a card-carrying Luddite and the ones and zeros seemed to upset his stomach.

seriously, he didn't want to use it and it ended up cheaper for me to come out to him and pick up the car.

thanks all.
Any excuse for a nice road trip! :) Seriously, had weather allowed it, I would have driven mine home.
 

·
Registered
Joined
·
434 Posts
Also; to give credit where credit is due - I mentioned I had some title issues:

...their customer service can be a bit lack-luster in responding to unforeseen circumstances. I paid the additional fee for them to handle the processing of the title (I wouldn't do it again) and somehow they either lost it or it's lost in the mail...
I just worked things out with the seller off the books and they (escrow.com) happily refunded the title collection fees.
 
1 - 10 of 10 Posts
Top