Buying guide

Exotic car buying checklist

Updated October 21, 2026 · Written by the Only for the Wealthy editors · General information, not legal or financial advice

Exotic and collector cars attract the same scams as any used car, with bigger numbers. Work through these steps in order. Each step can end the deal, and that’s the point.

We don’t sell vehicles. Only for the Wealthy is a publisher. We don’t sell, broker, consign, or arrange the sale of any vehicle, and we don’t act as an agent for buyers or dealers (see 625 ILCS 5/5-101). Buy only from licensed dealers or verified private sellers.

1. Confirm the car and seller exist

Ask for the full 17-character VIN, the plate, and the name the car is registered to. The FBI recommends exactly this for online vehicle purchases [1].
Search the seller’s name, phone, email, and the listing photos. Scammers copy real ads and hijack photos [1][2].
Talk by phone or video, and ask the seller to show the VIN plate and odometer live. Be wary of anyone who won’t allow an in-person inspection [1].
If it’s a dealer, confirm the dealer license with the state that issues it, and that the business address is real.

2. Run the VIN and title checks

NMVTIS (vehiclehistory.gov) shows title brands such as salvage, junk, or flood and the latest odometer reading through approved providers [3][4].
NICB VINCheck is free and flags vehicles reported stolen and not recovered, or reported as salvage by participating insurers [5].
NHTSA recalls: look up open safety recalls by VIN [6].
Check that the VIN matches the title, registration, the car’s VIN plates and labels, and the service records. Any mismatch is a stop.
Ask who holds the title. If there’s a lien, get the payoff handled in writing by the lender before money moves.

More detail: vehicle history and title checks, explained.

3. Pay for an independent pre-purchase inspection (PPI)

The FTC says a history report is not a substitute for an independent mechanical inspection, even when the car is “certified” [2][4].
Choose the inspector yourself: ideally a specialist shop for that make. Don’t use one the seller picks.
Ask for a written report with photos: paint-depth readings, accident repair, fluid leaks, tire dates, a scan of fault codes, and service history checked against the manufacturer’s schedule.
If the seller refuses an inspection, walk away.

4. Get the paperwork right

From a dealer, you’re entitled to a Buyers Guide that says whether the car is sold “as is” or with a warranty. Get every promise in writing; spoken promises are hard to enforce [2].
Get a signed bill of sale with the VIN, price, date, both parties’ names, and any conditions.
Confirm how title transfer and registration will happen in your state before you pay.

5. Pay safely

Never wire money or buy gift cards because a seller says a “buyer protection program” covers the deal. That is the exact pattern in FBI warnings [1][7].
If you use escrow, find the escrow company yourself (don’t click a link the seller sends), type its address in yourself, and confirm it’s licensed where it operates.
Call to confirm wiring instructions using a phone number you found independently. Treat any last-minute change in bank details as fraud until proven otherwise.
See fake escrow and wire-fraud scams.

6. Shipping and delivery

Arrange enclosed transport with a carrier you chose and checked, and confirm insurance coverage in writing.
Inspect the car on delivery and note any damage on the bill of lading before you sign it.

If something goes wrong: report fraud to the FBI’s IC3 at ic3.gov and contact your bank immediately [8].