Buying a Car at Carlisle

[Jim Bollman]

I'm going to Spring Carlisle in the hopes of finding something interesting to fill an empty bay in my shop. I have never bought a car at a show before. Any words of wisdom on how the transactions are arranged, I can handle evaluating the car. Don't really want to carry large amounts of cash but imagine most sellers will not take a check.

Currently thinking 64-69 Ranchero V8 or a Studebaker Champ pickup, but I'll see what I find.

Jim...

[nearchoclatetown]

There are noteries available on the grounds to do the paper work. Most transactions I've witnessed involve green stuff.

[rocketraider]

Carlisle Productions has a notary and title office on site to handle change of ownership paperwork and issue a temporary Pennsylvania transport tag if needed.

I'd recommend getting a letter of introduction and credit from your bank or credit union, on their letterhead. That letter will identify you as a customer and will guarantee that the bank will honor your check up to an amount that you and the bank agree on beforehand. That may convince a seller to take your check. Otherwise, cash talks.

I think CP can also do electronic funds transfer services, so that if you find a vehicle you want, you can call your bank and have them wire the money to you at the swap meet. Just make sure you've discussed the possibility of such a transaction with a bank officer before you go.

Another possibility is a credit line on a charge card. You might have to pay a user fee but it'll get the job done till you can pay off the transfer.

[ex98thdrill]

With the day and age of counterfeiters, I'd be leery about a big pile of green stuff as much or more than I would a check.

[Jim Bollman]

Thanks for all the good advice, I'll post pictures if I find something to buy. I thought the letter from the bank was a good idea but they looked at me like I was crazy. Said how did they know I wouldn't take out all the money after they wrote the letter. I have only been a customer for 20 years and I don't think my balance has dropped below what I want to spend for most of those years. Plus I have a line of credit with them for more than I plan to spend.

Sure wish small town banks were still around. I got my first morgage in under 30 minutes talking directly to the bank president. I had borrowed $100 from them once when I first moved to the area to buy tires for my 66 Mustang and paid it back and he knew the realtor and knew he wouldn't sell me a bad house. No inspection no nothing just stamped it approved. I bought the 66 Mustang with a loan from my dad when I was 20, he yelled across to street to his banker and told him we were going car shopping and to cover what ever check came through and he would be in to make it right. He wished us luck on our search and said he would watch for the check.

[rocketraider]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I thought the letter from the bank was a good idea but they looked at me like I was crazy. Said how did they know I wouldn't take out all the money after they wrote the letter.</div></div>

With a crack like that, I'd have closed the accounts right then and there and found a new bank. I'd have made the branch manager handle everything too including explaining to above why a longterm customer suddenly cashed everything in and left. There's small service-oriented banks around, you just may have to search a bit. A couple have opened here in the last ten years or so in a backlash against Bank of America and First Union and their megabanks <img src="http://www.aaca.org/ubbthreads/images/graemlins/mad.gif" alt="" /> .

[Guest imported_DaveZZZ]

My first two mortgages were with a small local bank that actually held its own notes (didn't sell them), and on the first one, after a year of making over the minimum payments, I called them and they cancelled PMI. For the second mortgage they basically told me they'd loan me whatever I needed, since I had such a solid history with them. In fact, on the second mortgage I moved out of state, and they didn't usually loan out of state, but went to the trouble of finding a lawyer who practiced in NH so I wouldn't have to use a different bank.

A year ago they were bought by one of those megabanks, so I sent them a letter telling them how disappointed I was, and refinanced before they could sell the mortgage.

-Dave

[RVAnderson]

Here's one for you. My college student loan was sold a couple of times; no real problem there. But a month after I made the last payment and got my "Congratulations; you paid it off" letter, the outfit that bought and then resold my loan wrote, telling me that they had made an error when they sold it 2 years before and wrongly credited the co. that bought it with an extra payment, so would I please "return" the funds that the other guys kept?

In the real world, which I borrowed the funds to prepare me for, I have to cover my own mistakes, not ask my customers to do so 2 years after I make them.

[Guest imported_DaveZZZ]

I'd have put that request in the circular file, along with the $11 request Fleet Bank has been sending me for years (they refuse to acknowledge their mistake).

[Jim Bollman]

Well, I'm back from Carlisle without a new vehicle. Was good weather and lots of cars to look at but the ones that were interesting were either honestly out of my price range or the owner was delusional on what the car was worth. Came home with a few small trinkets and sore feet.