And I'll add one more thing... I came close to buying a car private sale in another state before I found mine at a dealer. I went to Chase (my bank as well) and asked them how it would work, and this is exactly what they told me. It's typical for the bank to receive the title within a certain period after the sale.

 

When selling the 993 buyer was in Connecticut, car was in Illinois and I was in Florida. Buyer took loan out prior to taking possession of car and sent me a cashiers check. Everything worked out fine.

 

I'd only do it with a wire.

I sold a car last year to a Canadian resident. He gave me $1000 cash deposit, sent the balance by wire transfer to my account.

If you must take the check, def verify it with Chase on the day it's received, maybe even offer to bunk him overnight in a hotel to make sure the check clears?

The other alternative you have is to release the car but not the title until the check clears your account.

 

I've got my 911 from a private party and I've paid with a bank check. My bank (BA) gave my the loan before they got the title.

 

Buyer to supply a Chase cashier's check. Do the transaction in a Chase branch so you can verify funds. He drives you home in his new car and you get in your other car and deposit the check.

Works like a charm. Another option is to see if your local Porsche dealer will buy your car for the sales price and the buyer buys it from them for the sales price. It may cost you a few bucks to do this, but there could be some tax advantages for you on purchasing a car from the dealership in the future - you will need to verify with the local tax authorities and with the dealerships to see if they will do it.

 

seller is in Mass - so your solution while a good suggestion - impractical it would seem

 

I bought my 997 out of state and flew out to go see it, do the transaction, and drive it home. I financed the purchase through my local credit union. Once I gave them the VIN and seller's name, they cut the certified check made out to the seller for me to take to the table at point of sale.

The seller transferred the title to me but when I went to the DMV in Georgia to register the car (within 30 days), the DMV actually takes the title with the lienholder information and sends it to the lender. The lender then releases the title to me (the buyer) once the loan is paid off.

 

You can't buy a car without the money first, then you get a title. I had a check, gave it to my dealer, he let me take the car right then and there. Titled was mailed to me after the check cleared. Pretty easy.