Saturday, December 05, 2009

Advice needed...

Maybe someone can give advice: I'm trying to buy my dad's car in Michigan. He's giving me a deal I can't refuse. I was approved for an auto loan from Mecu, but they won't do a sale for an out-of-state car. In doing some googling, I'm seeing quite a few banks that also won't (M&T won't, for example). It doesn't make sense to me, but I have to figure out a solution. Anyone ever bought a car out of state? Should I try to get financing in MI and just switch title/registration to MD later?Try a bank that is more national than regional M&T and Mecu?

3 comments:

Ms. K., of course said...

You could always buy my 2000 VW Jetta TDI (48 mpg) here in Connecticut. As a fellow English high school teacher, I'd let you send me payments via mail (no bank necessary). I could even meet you halfway in Philly, say, or NYC!

P.S. I'm only half kidding. I LOVE this car and was sad to give it up.

Carlyle Thomas said...

i would seriously consider doing everything here in MD. getting the stuff from MI to MD is crazy expensive and takes a lot of time.

Melissa said...

I got a loan from a credit union in Michigan and then brought the car here. I waited too long to switch the title/registration to MD plates though ... ended up paying over $1000 due to the insane fees (had to pay MD sales tax over again) and cost of getting the vehicle inspected. Then there are the emissions test. Be careful buying a used car out of state and make sure you look up the MD State Inspection checklist. If the car won't pass, it's not a deal at all. Good luck!!