Buying cars internationally

[Eryck]

Greetings to all.  Given the international nature of this forum, I am sure that there are many members that have experience in buying a car from another country without traveling there to complete the transaction. 

I have too but previously, the amount wasn't large and I bought it from a dealer so I took the risk.

What about if it's a substantial amount and the seller is an individual?  Do you normally just do it based on trust or you use escrow?  If escrow, which one? 

Thanks in advance. 

[Peter van Es]

If the amount is big enough.... go there yourself!

Peter

[Eryck]

Yeah....that would be ideal....but from Hong Kong to Michigan.....yikes!

[Peter van Es]

There's a couple of expert members in the Michigan area, in fact I was just visiting mdsalemi there last week! Contact him!

Then again, if the amount is large (say $50K upwards) I'd probably get on a plane to look myself...

Peter

[Eryck]

Thanks, Peter.  I am now thinking about flying there.

I actually paid an 'expert' to inspect the car for me.  So that's covered.  The only concern I have is that I have to make the wire payment first so there is always a risk that the seller takes off with the money and don't give me the car!  That's really my concern. 

[66andBlue]

... Do you normally just do it based on trust or you use escrow?  If escrow, which one? 

Eryck,
I would always use an escrow agent. Most banks have a contact/correspondence bank in the vicinity of the purchase location that could act as the escrow agent. Ask your bank for help.