Purchasing a used car - please advise so I don't get scammed

OK, I met this Russian guy in my building that tells me he buys cars at auction ans ships them to buyers in Russia. I am supposed to be purchasing a car that was repossessed by Citibank. So Citibank owns it. The car is in Orlando. The car is a 2007 Porsche 911 S with 1400 miles. Assume that the car is in mint condition and basically brand new. I'm paying 57K. I want to give Citibank a cashiers check for 57K and have Citibank give the title. However, the Russian tells me that Citibank will only deal with an authorized dealer which he is. So Citibank would give his corporation the title. I have a contract to purchase the car from his corporation. He says he will give me the title on the spot. Now, I know this guy but not real well. He invites me over for parties and he lives in an absolute crib on the water - always has fine ass Russian women there too. Anyways, is this normal procedure? I figure if he does not give me the title I will just stop payment on the cashiers check the same day. What can I do? I've never purchased a used car so I have no understanding whatsoever as to how the title to a car is transfered. Thanks

That is how its done here but the law varies. You would need to go thru a broker like him. "I have a contract to purchase the car from his corporation" ...This is the part i would want to ck into. Does it say what u think it does or is their substitutions allowed, etc.....And are their suits or judgements against him by others holding these "contracts"?

I'm going to check for judgments now - at least this seems to be somewhat standard - I would have liked Citibank to give me the title

Repeat after me:
Show me the carfax

I would do 3 things.

A. Get a carfax right away

B. Contact citibank and find out if what he is saying is true.

C. Find a good place to get a cashiers check that will protect you if any fraud were to occer, I know USPS does that but have no idea what the limit is

Here is the Carfax - what do you think?

<TABLE id=recordDetailSection cellSpacing=0 cellPadding=0 width=656 align=center bgColor=#ffffff border=0><TBODY><TR><TD class=pad5 id=detailsBoxHeaderText align=left colSpan=2>A CARFAX Vehicle History Report is based only on information supplied to CARFAX. CARFAX checked over 6 billion vehicle history events and found 5 record(s) for this 2007 PORSCHE 911 CARRERA S (WP0AB28117S730848).</TD></TR><TR><TD class=nopad width=185> </TD><TD class=nopad width=471> </TD></TR><TR><TD vAlign=top align=middle width="100%" height="100%"><TABLE class=ownerTabPrint id=tabTable1 cellSpacing=0 cellPadding=0 width="100%" bgColor=#003366 border=0><TBODY><TR class=noPrint vAlign=top align=left><TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" colSpan=2>
</TD></TR><TR><TD class="rolocolumn white" align=left colSpan=2> </TD></TR><!-- Purchase Year --><TR><TD class="rolocolumn white small" vAlign=top align=left width=92>Purchased:</TD><TD class="white small" align=left width=93>2007</TD></TR><!-- Owner type --><TR><TD class="rolocolumn white small" vAlign=top align=left width=92>Type:</TD><TD class="white small" align=left width=93>Personal </TD></TR><!-- state list --><TR><TD class="rolocolumn white small" align=left width=92>Where:</TD><TD class="white small" align=left width=93>Montana, Florida </TD></TR><!-- est. miles driven --><TR><TD class="rolocolumn white small" align=left width=92>Est. miles/year:</TD><TD class="white small" align=left width=93>---</TD></TR><!-- length owned --><TR><TD class="rolocolumn white small" vAlign=top width=92>Est. length owned:</TD><TD class="white small" id=OwnershipLength1 vAlign=top width=93>4/26/07 - present
(2 yrs. 2 mo.) </TD></TR><TR class=noPrint vAlign=bottom><TD vAlign=bottom align=left colSpan=2>
</TD></TR><TR class=noPrint vAlign=top align=right bgColor=#ffffff><TD colSpan=2> </TD></TR></TBODY></TABLE><!-- cpo tile --></TD><TD vAlign=top align=left width=471><TABLE class=folderstyle id=recordTable1 style="HEIGHT: 145px" cellSpacing=0 cellPadding=4 width=471 bgColor=#ffffff border=0><TBODY><TR class=oddrow id=detailsHeaderRow1><TD id=dateHeader1 align=left width="13%">Date:</TD><TD id=mileageHeader1 align=left width="13%">Mileage:</TD><TD id=sourceHeader1 align=left width="24%">Source:</TD><TD id=commentsHeader1 align=left width="50%">Comments:</TD></TR><TR class=evenrow id=record1><TD vAlign=top align=left>04/26/2007 </TD><TD vAlign=top align=right>45 </TD><TD vAlign=top align=left>Montana
Motor Vehicle Dept.
Livingston, MT
Title #G847574 </TD><TD class=record-comments vAlign=top align=left>Vehicle purchase reported
Registered as
personal vehicle </TD></TR><TR style="BACKGROUND-COLOR: #e6edf5"><TD align=right colSpan=4></TD></TR><TR class=oddrow id=record2><TD vAlign=top align=left>04/27/2007 </TD><TD vAlign=top align=right> </TD><TD vAlign=top align=left>Montana
Motor Vehicle Dept.
Livingston, MT
Title #G847574 </TD><TD class=record-comments vAlign=top align=left>Title issued or updated
Registration issued or renewed
First owner reported
Vehicle color noted as Silver </TD></TR><TR style="BACKGROUND-COLOR: #ffffff"><TD align=right colSpan=4></TD></TR><TR class=evenrow id=record3><TD vAlign=top align=left>12/07/2007 </TD><TD vAlign=top align=right> </TD><TD vAlign=top align=left>Porsche Cars North America </TD><TD class=record-comments vAlign=top align=left>Manufacturer Voluntary Service Action issued
#W737 Voluntary Service Action - PURGE FAN 06/07
Click here or call 1-800-PORSCHE to locate an authorized Porsche dealer near you. </TD></TR><TR style="BACKGROUND-COLOR: #e6edf5"><TD align=right colSpan=4></TD></TR><TR class=oddrow id=record4><TD vAlign=top align=left>12/13/2007 </TD><TD vAlign=top align=right>1,215 </TD><TD vAlign=top align=left>Florida
Motor Vehicle Dept.
Winter Park, FL
Title #0099780076 </TD><TD class=record-comments vAlign=top align=left>Title issued or updated
Registration issued or renewed
Registered as
personal vehicle
Registration updated when owner moved
the vehicle to a new location
Vehicle color noted as Silver </TD></TR><TR style="BACKGROUND-COLOR: #ffffff"><TD align=right colSpan=4></TD></TR><TR class=evenrow id=record5><TD vAlign=top align=left>03/10/2009 </TD><TD vAlign=top align=right> </TD><TD vAlign=top align=left>Florida
Motor Vehicle Dept.
Winter Park, FL
Title #0099780076 </TD><TD class=record-comments vAlign=top align=left>Registration issued or renewed
Registered as
personal vehicle
Vehicle color noted as Silver </TD></TR><TR style="BACKGROUND-COLOR: #e6edf5"><TD align=right colSpan=4></TD></TR><TR class=oddrow><TD vAlign=top align=left colSpan=4><TABLE cellSpacing=0 cellPadding=0 align=right border=0><TBODY><TR><TD style="BORDER-TOP-STYLE: none" vAlign=bottom width=105> </TD><TD style="BORDER-TOP-STYLE: none" width=335>
CARFAX 1-Owner vehicle! 1-owner 2007 Porsche 911 Carrera S vehicles are worth an average of $4,506 more to consumers because 1-owner vehicles tend to be consistently driven and maintained. Use this as a guide when comparing vehicles. Learn More

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looks good but id still be wary

I ran a judgment search on the seller and his company - nothing - and they've been in business 4 years - I'm told Citibank gives him the title - he gives me a bill of sale - I have the checks that I paid - and I have possession - who knows? - I'll probably get scammed

Have you called Citibank, shouldn't they be able to tell you if they had said title and it was their policy to only give it too dealers?

No, I will try to do that tommorrow - I just don't know where to call at Citibank

Really though...If he's giving u the title on the spot and its past the carfax thats about all there is. I'd want to run it by the Porsche dealer to ck it out since it is a 55K car....Every repair wouldnt have to show on the carfax, the former owner could have made mods that you should know about but more than likely it was repossessed and you'll end up with a good car....

In Mn Liens Show On The Title

also get in touch w/previous owner for info. Have you even seen or driven it?

Since Citi is disposing of the repo at an auction, they can only sell to a licensed wholesaler/broker. This Russian guy will settle up with the auction and get the physical title from them. From there he will transfer the title over (and give it to you or forward to your lienholder if you are financing) to you in exchange for the agreed sales price. It sounds legit to me. I have purchased my last three vehicles this way, and this is the process that I went through each time. Knowing a licensed auto wholesaler is the way to go if you are interested in saving a significant amount of money on a car purchase without the hassel of getting jerked around by a dealer.

DesertNole said:

Since Citi is disposing of the repo at an auction, they can only sell to a licensed wholesaler/broker. This Russian guy will settle up with the auction and get the physical title from them. From there he will transfer the title over (and give it to you or forward to your lienholder if you are financing) to you in exchange for the agreed sales price. It sounds legit to me. I have purchased my last three vehicles this way, and this is the process that I went through each time. Knowing a licensed auto wholesaler is the way to go if you are interested in saving a significant amount of money on a car purchase without the hassel of getting jerked around by a dealer.

Click to expand...

Thanks, I've just never purchased a car other than from a dealer so it's all foreign to me and I know there are a lot of WVU's in this world