Overhaulin'

can i use a credit union to buy a car that is far away?

I live in Boston and wanted to use a credit union to take out a loan on a car. I know the process if I use a local dealer, but what if I want to buy a car that is 1000 miles away? Can I secure a pre-approval for the loan then go to buy the car? How does title and registration work. Thanks for the help!!!

Public Comments

1. The credit union would first have to make sure the car is worth what their going to be giving you and then if they did, you would get it, bring it back, register it, get insurance and then your credit union would be getting the title until you pay it off. Good luck!
2. You can buy a car anywhere, and finance it through your credit union. If you have a pre- approval from your credit union, you can overnight the paperwork to them, and have the check sent back overnight to you. You then pay for the car and take possession. If you are buying from a dealer, they can issue you temporary tags to drive the car home. You will most likely have to buy an insurance policy to cover you on the way home. The insurance rules in Mass are strange. They will not cover your car until the paperwork is filed at the RMV. If you are buying from a private individual, you will need to send the paperwork to your insurance agent, and have their runner get the tags for you. They can then send you the plates and you can put them on the car and drive it.