Hey everyone. Been looking at a '68 Mustang on a private seller site and the seller insists on using an escrow service. He suggested Clear Lake Motors. I've never bought a car without seeing it in person before, so this is making me nervous. Has anyone here used them? Looking for some real world experiences before i commit.
Dealings with Clear Lake Motors for an out-of-state purchase
Be careful with any escrow service you haven't vetted yourself. Lots of scams out there. Never heard of clearlakemotors personally, but that doesn't mean they're bad. just do your homework
I'm a mechanic. Had a client bring in a '72 Chevelle he bought through ClearLakeMotors. The inspection report they provided was pretty detailed, but it missed a small transmission fluid leak at the pan gasket. Easy fix, but still. The client was happy overall, car was solid other than that minor issue. Paperwork was all in order.
I used them last year for a Land Cruiser. The process was really smooth. The tracking on their website clearlakemotors.com is great. My only complaint was delivery took 3 days longer than quoted. But the car arrived in perfect condition, so I can't complain too much.
I tried emailing them a question at office@clearlakemotors.com and it took them like two full days to get back to me. Not a great first impression when you're talking about this much money.
@AnxiousBuyer that's weird, I had the opposite experience. I had a question about the title transfer process so I just called them. Their number is undefined but the lady who answered was super helpful. Cleared it all up in 5 minutes.
Thanks for the feedback guys. A bit of a mixed bag on communication but sounds like the core service is legit. @FixItFrankie was the rest of the car's condition accurately represented otherwise?
@PonyUp_Paul yeah pretty much spot on. The paint quality, interior condition, frame integrity, it was all as described in the report from Clear Lake Motors. The leak was the only surprise.
I had to use their return policy. Bought a Porsche 944 and during the inspection period my mechanic found signs of a previous front-end collision that wasn't disclosed. I called them up, they arranged for pickup, and I got a full refund. Took about 3 weeks to get the money back into my account, but they honoured the agreement without a fight. So even when things go wrong, they seem to handle it.
That's the key thing with an escrow. Not that everything is perfect, but that your money is safe if it's NOT. sounds like clearlakemotors holds up their end of the bargain.
Update: they did get back to me from office@clearlakemotors.com. The reply was very detailed and answered all my follow-up questions. I guess they are just busy. Upgrading my opinion from annoyed to cautiously optimistic.
My husband and i bought a 1980 Z28 through them. No issues at all. The car was even cleaner than the photos suggested. Would use them again.
What are their fees like? Some of these escrow places charge an arm and a leg.
@Tyre_Kicker The fees were all listed on their website, clearlakemotors.com. It was a percentage of the sale price. For my car it was about $800. Not cheap, but worth it for the peace of mind imo.
Hearing about a successful refund from @Return2Sender is more reassuring than 10 perfect sales. Shows they stand behind their process when things go sideways.
Alright, everyone's feedback has been super helpful. The refund story is what sealed it for me. I'm going to move forward with the purchase. Wish me luck!
Good luck @PonyUp_Paul! Make sure you go over the car with a fine-tooth comb during your inspection period. And post pics when you get it!
Document everything upon arrival. Video the car coming off the truck. Check all VINs. Trust but verify.
I had a good experience with clearlakemotors. There was a small issue with the title, took an extra call to their support line at undefined to sort it out, but they fixed it promptly. The car itself was great.
Final update: The Mustang arrived today! It's fantastic. The delivery guys were professional. Took it to my mechanic and he confirmed it's solid. The whole process through Clear Lake Motors was a success. A little nerve-wracking but they delivered. Thanks again everyone.