Guide to Buying Classic Cars Online
Take the risk out of buying classic cars online using Escrow.com.
How to Buy Classic Cars Online
Whether you are buying your first auto love or a luxury cruiser for day-to-day driving, buying a classic car represents a big outlay and an even bigger reward. Classic Cars embody an auto heritage which spans generations and fuses innovative and revolutionary design with some of the best of human engineering.
Classic Cars come in a number of broad categories from the iconic American designs of Cadillac and Chevrolet models to the European stylings of an Aston Martin. Classic Cars are synonymous with culture, passion and the prestige.
For buyers, the main risk to look out for when purchasing a vehicle online is you get what you paid for. Especially since classic cars are primarily sold through the second hand market, ensuring that a listing is accurate for a high value vehicle is critical. Older classic cars can have an increase in faults simply due to age and the condition they were kept in. The best option is to get it appraisal from a qualifed Classic Car mechanic but arranging this may not be possible without a proper agreement stipulating who pays for what.
Another thing to consider is the shipping process. Classic cars require additional measures on top of the usual shipping requirements because they can be more fragile than a more modern counter part. Paying the full amount for a Classic Car only for it to arrive damaged could leave you out of pocket and with nothing to salvage the situation.
What can you do to protect your classic car purchase?
Luckily there are a number of steps you can take when buying vehicles online which will protect your purchase every step of the way.
Using a broker to transact online can provide you with additional security. A brokerage service typically has domain knowledge about the requirements for purchasing classic cars including typical scams to look out for, trusted mechanics for appraisal and the strict shipping requirements.
Using legitimate payment channels can help reduce your risk of fraud. Some payment providers will provide you with some protection against fraud. Keep in mind, though, that not all payment providers were created equal. Unfortunately, some payment channels will not cover auto motive transactions. Direct bank transfers are also risky, especially international wires because they can not always be reveresed in the event of fraud.
Using an audited, bonded escrow service eliminates fraud from all your transactions. This is because in an escrow transaction, you can stipulate the terms of the inspection period and can include provisions to have a mechanic inspect the vehicle. If the vehicle does not pass the inspection, you have the opportunity to send the vehicle back and your escrow provider will disburse your funds back into your bank account. Escrow.com covers vehicle transactions of all types, no exclusions so you can safely use our platform to transact with sellers accross the globe. Our 5 easy steps stop fraud in its tracks. Escrow.com protects buyers by only releasing the funds to the seller if what you receive is exactly what you paid for. If it is not, ship it back to the seller and you will get a full refund.
Escrow.com also provides several additional motorvehicle services to give you peace of mind. Lien Holder Payoff services gurantees there is no outstanding debt on the car giving you confidence when you buy. If the car is already clear of debt, our Title Collection ensures you get the title before your funds are disburesed, taking the hassle out of the legal ownership trasfer.
How to use Escrow.com to Buy Classic Cars
- You and the seller agree to terms - Either you or the seller can start a transaction. All parties have an opportunity to agree on the terms of the transaction including shipping fees and inspection periods.
- You pay Escrow.com - Now that you have created your transaction, its time for you to fund it by paying Escrow.com the balance. Once Escrow.com verifies the payment, we will put your funds in our escrow account and the seller is notified that funds have been secured.
- Seller ships the Classic Car - Now that the funds are in our escrow account, the seller is authorised to deliver the classic car as per the agreed terms of the escrow transaction. If cargo shipping is required the seller provides the tracking information to Escrow.com so we can verify that the you received the vehicle.
- You accept the Classic Car - When you receive the vehicle, you have an amount of days equal to the agreed upon inspection period to inspect the vehicle. This is your opportunity to have the vehicle checked out to ensure everything is as expected. Once you are satisfied with your new purchase, notify us, and we will finalise the escrow agreement. If everything is not up to scratch, you can reject the vehicle and send it back to the seller and we will refund your transaction. Find out more about the rejection process
- Escrow.com pays the Seller - We release the funds to the seller from our escrow account.
If you are looking to buy or sell cars online, you can rest safe in the knowledge that Escrow.com is one of the most trusted and secure escrow services across the globe.
What can you use Escrow.com for?
Escrow.com can be used to transact any car or vehicle. Find out more information about specific models: