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Born to Lose, Live to Win
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best form of payment when selling vehicle?
my jobloss is forcing me to sell my motorcycle. ive never sold a vehicle that had a clear title so im wondering, besides cash, what is the most secure form of payment to accept from a buyer before i hand over my baby? Thanks
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Things fall apart; the center cannot hold… 1983 911sc 2025 Chevy Colorado ZR2 |
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09-08-2009, 06:37 AM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,102
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cash.
From a private person, cash. THere are scams involving money orders and cashiers checks. I did once purchase from a private seller using a loan/check. I call my credit union and tell them that I'm looking for a vehicle and want a loan for not more than $XX. They send me a basically blank check that says "not good for more than $XX". I was able to call my bank and put the seller on the phone with them. He was satisfied. I don't know that I would have been.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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09-08-2009, 06:45 AM
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Banned
Join Date: May 2006
Location: Dana Point, Ca
Posts: 55,591
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Cash, Cash, or maybe Cash. Otherwise a bank transfer. I have been stuck with Cashier Checks, even a good one from out of state will take five working days to clear. A personel check but make sure it clears before you give them the car. Unless they are a friend, then things change. Cash.
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09-08-2009, 07:13 AM
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Edministrator
Join Date: Aug 2003
Location: SF east bay
Posts: 24,761
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If he uses the same bank as you, go there. Otherwise, wire transfers are bulletproof (but expensive and take a little time).
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09-08-2009, 07:19 AM
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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,494
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When I sold the Triumph earlier in spring to a guy in North Dakota he sent me a cashiers check. I sent him a bill of sale. When the check cleared, I sent him the title. If the sale would have been local I would have said bring cash or we do the deal at your bank.
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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09-08-2009, 08:04 AM
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Slackerous Maximus
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,179
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Cash works.
If its for a huge amount, you could accept a cashiers check, but just go to the bank when they have it made.
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2022 Royal Enfield Interceptor. 2012 Harley Davidson Road King 2014 Triumph Bonneville T100. 2014 Cayman S, PDK. Mercedes E350 family truckster. |
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09-08-2009, 08:09 AM
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Banned
Join Date: Sep 2006
Location: South of Heaven
Posts: 21,159
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Quote:
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09-08-2009, 08:49 AM
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Platinum Member
Join Date: Jul 2001
Location: Leave the gun. Take the cannoli.
Posts: 20,988
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cash, lawyer's trust account check, wire transfer.
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09-08-2009, 08:57 AM
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Registered
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In God we trust.
All others pay cash. Jim
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down to jap bikes that run and a dead Norton |
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09-08-2009, 09:04 AM
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Registered ConfUser
Join Date: Aug 2006
Location: Waterlogged
Posts: 23,534
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Quote:
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Mike “I wouldn’t want to live under the conditions a person could get used to”. -My paternal grandmother having immigrated to America shortly before WWll. |
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09-08-2009, 09:08 AM
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Get off my lawn!
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Look careful at the cash. There are crooks with counterfeit cash. It is the old "friend of a friend" story but I did hear of a guy selling a car and was paid with phony money.
I would meet them at the bank. Do the transaction inside so you don't get robbed.
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Glen 49 Year member of the Porsche Club of America 1985 911 Carrera; 2017 Macan 1986 El Camino with Fuel Injected 350 Crate Engine My Motto: I will never be too old to have a happy childhood! |
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09-08-2009, 09:14 AM
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Canucks Fan
Join Date: Jan 2009
Location: Vancouver B.C. Canada
Posts: 2,216
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Cash or Grass
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09-08-2009, 09:27 AM
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Banned
Join Date: Sep 2006
Location: South of Heaven
Posts: 21,159
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Quote:
Not every one is a kum by yah singer you know. Quote:
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09-08-2009, 09:29 AM
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Cogito Ergo Sum
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 Always the best form |
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09-08-2009, 09:43 AM
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Registered
Join Date: Jul 2004
Location: Maryland
Posts: 31,505
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Quote:
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1996 FJ80. |
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09-08-2009, 09:45 AM
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Edministrator
Join Date: Aug 2003
Location: SF east bay
Posts: 24,761
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I think there was also ass.
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09-08-2009, 10:43 AM
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Son of a Son of a Sailor
Join Date: May 2009
Location: Birmingham, Al
Posts: 945
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If you guys are able to get together in person just have him meet you at your bank.
I bought my H-D from an individual and thats what he had me do. I met him at his bank, he paid the lady at the desk, she smiled and paid me, even filled out the part on the title for the sale. Smooth as silk. That way I knew he was paying with good funds, he knew I wouldn't try to knock him in the head and steal the bike.
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"Living and Dying in 3/4 Time" |
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09-08-2009, 11:22 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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I like cash but am concerned about bogus bills.
I will always involve the bank in any way possible.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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09-08-2009, 11:53 AM
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Control Group
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Quote:
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She was the kindest person I ever met |
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09-08-2009, 12:00 PM
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Licensed User
Join Date: Feb 2003
Location: ....down Highway 61
Posts: 6,506
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bank wire
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09-08-2009, 12:17 PM
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1983 Porsche 911SC 3.0
the stable a few years ago
2013 
Carrera
1986 Porsche 944 2.5l
2004 Mazda Miata
