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I have purchased a car on ebay, twice actually. You technically can't back out unless it is really mis-represented. It is very important to talk with the owner and get a feel for them, I walked away from a couple cars becuase it didn't feel right even though it was a really good price. I personally have had very good luck, as well as many other people. Keep in mind, if it sounds to good to be true, it probley is.
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The local track whore
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