Many car buyers have run into difficulties with car sellers not honoring a full or portions of their car purchase sales contract, particularly after the money has been paid! Payments across international borders can cause many problems, and sorting out the mess can be a major and costly headache for out of US car buyers across the globe.
What is an escrow service?
Escrow is a defined process whereby a buyer puts money into the custody of a trusted third party with a guarantee that funds are available for payment to the seller after a specified set of conditions has been met (car inspection or test drive).
How does an escrow service work?
It’s very simple. The Buyer deposits funds into the Car Export America escrow’s account. When the Seller sell car and the Buyer has been provided with car inspection and approves purchase, the escrow service pays the Seller. It’s that easy. Car Export America gather and distribute purchase funds, verify the car’s ownership, conduct lien research, prepare closing statements, obtain transfer documents, and administer loan payoffs.
What are the benefits of using an escrow service?
Sellers are protected against bad checks, non-sufficient funds, scams, fraud.
The escrow service especially useful for expensive vehicles and exotic sport cars for transactions around the world.
Added security for both parties. Minimizes the likelihood of a dispute.
Escrow account service to ensure money is delivered to the seller only after Bill of Sale is signed and delivered.
Buyers are able to inspect a car or order car inspection before the payment is finalized.
Buyers have the right to get a refund or re-negotiate a sales price if car inspection comes back unsatisfactory.
Escrow takes the worry out of buying from unknown car sellers.
No need to send personal information to an unfamiliar party.
What happens if a dispute arises?
A dispute is very unlikely. When escrow is applied, the process keeps buyer and seller from getting into a dispute.
What are your escrow fees?
If you want us to assist with buying a car outside of our website we offer car buyer’s escrow services, they range:$500.00 – $1,000 and it is case to case, depends on many factors like bank pay off, private seller or dealer, etc. Using an escrow is worth the peace of mind of knowing your transaction will be secure and your money protected.
* All cars listed on our website are NOT subject to additional escrow fees as listed above.
For more info or to get a car escrow service quote, contact Car Export America Team…