Who usually pays for the PPI?
#1
Rennlist Member
Thread Starter
Who usually pays for the PPI?
I looking at a car that is out of state and I'm curious if I should be paying for the PPI or the seller? I would imagine the seller would as it would help them sell the car more if they have this information for themselves to share with prospective buyers.
#2
Race Car
Almost always the buyer.
I've paid for several over the years including on cars I didn't end up buying...it's me as the buyer requesting a more in depth inspection of the car than I'm capable of in one way or another. I should be paying for the cost.
Not saying always. I've purchased a car that was already PPI'd buy the seller as a selling point and he provided the documents, but it's not something they are expected to do. If you want the PPI you need to be the one paying for it.
I've paid for several over the years including on cars I didn't end up buying...it's me as the buyer requesting a more in depth inspection of the car than I'm capable of in one way or another. I should be paying for the cost.
Not saying always. I've purchased a car that was already PPI'd buy the seller as a selling point and he provided the documents, but it's not something they are expected to do. If you want the PPI you need to be the one paying for it.
#3
I would want to pay for my own if buying. Too easy for the seller to fib or not disclose issues in order to sell.
#6
Instructor
I ordered one when I bought my 996 GT3 and had a NJ dealer do it. The dealer failed to uncover some pretty basic stuff that, in retrospect, would have made me reconsider buying the car I got.
My recommendation is to use an indi shop and not a dealer.
My recommendation is to use an indi shop and not a dealer.
#7
Buyer. When I bought my GT3, the previous owner had a PPI done for another buyer. After talking to the shop on the phone and getting the copy of the PPI, I made the decision to go ahead and buy mine without an additional PPI. But I did a thorough inspection after the fact when I got mine home.
Mike
Mike
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#8
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Buyer. Just like an apraisal or home inspection. However beware that a PPI only tells you how the car is that very moment. It is not predictive in nature. A car purchased by an acquaintance had a piston fail two weeks after the PPI hat showed everything fine.
Better than nothing, but your best bet is to buy from people who are concerned about their reputation and don t need to sell.
Better than nothing, but your best bet is to buy from people who are concerned about their reputation and don t need to sell.
#10
Nordschleife Master
Buyer, and if they find anything wrong, you will more than make up for it when you renegotiate the price of the car based on the repairs you will have to make. Or you pass and it saves you from expensive repairs.
#11
Buyer.
For the last car I sold, one guy got a PPI and then made me a low-ball offer. So I sold the car to someone else. He got very upset, insisting I pay him back, he even sent me a few unpleasant texts!
For the last car I sold, one guy got a PPI and then made me a low-ball offer. So I sold the car to someone else. He got very upset, insisting I pay him back, he even sent me a few unpleasant texts!
#12
Rennlist Member
Thread Starter
Well..this sucks. No Porsche dealership in the area does PPI's anymore due to "litigation". I got a recommendation for the area, but the guy can't hook up to the computer to give me the DME readout.
On a related note, I need some advice as this would be first time for me buying a car out of state. I plan to finance (if I plan to keep the car longer, I pay off the loan early) the car and I'm going through PenFed. What's the recommended strategy or process for this? PenFed said the buyer/seller negotiates a price, then seller needs to fax copies of a bill of sale and title and then a few days of process later, they send a check. I was thinking the process with the seller would go like the following:
Visit in person to check out car, arrange PPI with independent, then drive to dealership to get DME readout only.
Negotiate and agree on price
I leave a deposit or downpayment as a good faith thing
Seller faxes docs to PenFed
I keep title and bill of sale
Should I ask for one copy of the keys?
I go home and wait for PenFed (it takes them 3-4 days to process) to send me check to endorse
I send check asap to seller
Seller and I arrange shipment of car
Done.
Does this sound about right?? Should I fly back to deliver check in person in order to assure I receive the car or trust the seller will assist in arranging shipment?
On a related note, I need some advice as this would be first time for me buying a car out of state. I plan to finance (if I plan to keep the car longer, I pay off the loan early) the car and I'm going through PenFed. What's the recommended strategy or process for this? PenFed said the buyer/seller negotiates a price, then seller needs to fax copies of a bill of sale and title and then a few days of process later, they send a check. I was thinking the process with the seller would go like the following:
Visit in person to check out car, arrange PPI with independent, then drive to dealership to get DME readout only.
Negotiate and agree on price
I leave a deposit or downpayment as a good faith thing
Seller faxes docs to PenFed
I keep title and bill of sale
Should I ask for one copy of the keys?
I go home and wait for PenFed (it takes them 3-4 days to process) to send me check to endorse
I send check asap to seller
Seller and I arrange shipment of car
Done.
Does this sound about right?? Should I fly back to deliver check in person in order to assure I receive the car or trust the seller will assist in arranging shipment?
#13
^^^ Good, I wouldn't trust a Porsche dealership do a PPI anyway! Its hit or miss. If you know the actual tech doing it and trust them, okay, otherwise forget it.
Find a proper race shop with lots of experience on these cars.
Find a proper race shop with lots of experience on these cars.
#14
Damage,
++ on independent PPI.
The scenario you have listed for the purchase of this car would leave the seller in a very uncomfortable position. Most purchases go like this: If you want the car, leave a good faith deposit and when you return with the full amount, you will get the car, the title, bill of sale and the keys.
You have no right to a bill of sale, title or keys if you haven't paid for the car. Seller can give you a bill of sale contingent on receipt of funds and a copy of the title for you to try to get financing but your plan does not protect the seller in any way and in my opinion puts him at risk.
++ on independent PPI.
The scenario you have listed for the purchase of this car would leave the seller in a very uncomfortable position. Most purchases go like this: If you want the car, leave a good faith deposit and when you return with the full amount, you will get the car, the title, bill of sale and the keys.
You have no right to a bill of sale, title or keys if you haven't paid for the car. Seller can give you a bill of sale contingent on receipt of funds and a copy of the title for you to try to get financing but your plan does not protect the seller in any way and in my opinion puts him at risk.
#15
Rennlist Member
Thread Starter
Laura,
The only problem is this is out of state. Plane tickets cost me $500 each flight. That means $1k to fly there the first time to check the car out and leave the deposit. 2nd time to come back and hand over the remaining balance. Also for the deposit, would a normal check do? My worry is either, seller takes money (if cashier's check) and/or just sells the car while I wait for the rest of the funds to come through.
Just trying to figure out the best way to handle it. It's looking to be a lot of hassle. :/
The only problem is this is out of state. Plane tickets cost me $500 each flight. That means $1k to fly there the first time to check the car out and leave the deposit. 2nd time to come back and hand over the remaining balance. Also for the deposit, would a normal check do? My worry is either, seller takes money (if cashier's check) and/or just sells the car while I wait for the rest of the funds to come through.
Just trying to figure out the best way to handle it. It's looking to be a lot of hassle. :/