Is cash the only secure way ? - Chicagoland Sportbikes
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post #1 of 35 (permalink) Old 09-20-2004, 02:58 PM Thread Starter
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Is cash the only secure way ?

Seeing slowass's selling issues and some other threads on counterfiet cashiers checks made me wonder about this.

I"m going to be selling my bike soon and was wondering


If you are selling a vehicle to someone you don't know
Is cash the only secure way to do it ????

edited: we're talking about 5k-6k

Thanks,


Last edited by Ohfugit; 09-20-2004 at 03:03 PM.
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post #2 of 35 (permalink) Old 09-20-2004, 03:02 PM
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I'd go cash only up to $10,000. Anything larger, I'd walk with him at his bank, see the cashier's check generated with my very eyes, and then it'll be safe.
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post #3 of 35 (permalink) Old 09-20-2004, 03:03 PM
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Certified check or money order is better than personal check... i'd still try to work it out, where the swap would have to wait until the payment clears.
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post #4 of 35 (permalink) Old 09-20-2004, 03:05 PM
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Cash is king. There's nothing wrong with other forms just don't give up the bike until the money's in your account.

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post #5 of 35 (permalink) Old 09-20-2004, 03:07 PM
 
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Wire transfer is also good. Cashiers check or money orders is good 2.
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post #6 of 35 (permalink) Old 09-20-2004, 03:11 PM
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nothing is better than knowing/trusting the buyer!

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post #7 of 35 (permalink) Old 09-20-2004, 03:21 PM
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Quote:
Originally posted by Rev
I'd go cash only up to $10,000. Anything larger, I'd walk with him at his bank, see the cashier's check generated with my very eyes, and then it'll be safe.

Still not safe. They can turn around and cancel it still. Wire transfer is the way to go if your worried although I've always trusted people enough with a cashiers check.

Brian (F.K.A. Crazy)

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post #8 of 35 (permalink) Old 09-20-2004, 03:25 PM
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Go to the buyer's bank with the buyer and have the buyer's bank issue you a bank check that is drafted from the buyers checking account or from the buyer's cash on hand.

-- Matthew --

"I'm just a simple man trying to make his way in the Universe" - Jango Fett
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post #9 of 35 (permalink) Old 09-20-2004, 03:27 PM
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Quote:
Originally posted by MrBusa
Go to the buyer's bank with the buyer and have the buyer's bank issue you a bank check that is drafted from the buyers checking account or from the buyer's cash on hand.
That's what I was saying, but I think you still need to wait 3-4 days for it to clear on your side.
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post #10 of 35 (permalink) Old 09-20-2004, 03:28 PM
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Quote:
Originally posted by Rev
That's what I was saying, but I think you still need to wait 3-4 days for it to clear on your side.
Yup and they can still cancel it for a fee within that time.

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post #11 of 35 (permalink) Old 09-20-2004, 03:29 PM
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Cash only!

Why chance it? With all the scumbags that are out there, why trust anybody?
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post #12 of 35 (permalink) Old 09-20-2004, 03:30 PM
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Cash is King..

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post #13 of 35 (permalink) Old 09-20-2004, 03:32 PM
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Quote:
Originally posted by Dirtbiker
Cash only!

Why chance it? With all the scumbags that are out there, why trust anybody?
+1

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post #14 of 35 (permalink) Old 09-20-2004, 03:32 PM
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Quote:
Originally posted by MoparBoyy
Cash is King..
fake cash would suck though.

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post #15 of 35 (permalink) Old 09-20-2004, 03:41 PM
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Crazy is 100% correct on this, I was concerned about this when I sold my Valkyrie. But I took the check anyway and depisited immediatly. It all worked out but in all reality I could have been screwed.

to be 100% safe you need to get the check and hold the bike till the fiunds clear, or do a wire transfer and have your bak verify the funds deposited while he is buying the bike from you.



Quote:
Originally posted by trey
fake cash would suck though.
Ya, cash sounds great till you end up with 10,000 of it and thebank confiscates it leaving you high and dry.




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post #16 of 35 (permalink) Old 09-20-2004, 03:44 PM
 
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How about Paypal?
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post #17 of 35 (permalink) Old 09-20-2004, 03:47 PM
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Quote:
Originally posted by flipSTREAM
How about Paypal?

that works too but you need to move the cash out of the paypal account before you release possession or they can put a complaint on your account and have it frozen

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post #18 of 35 (permalink) Old 09-20-2004, 03:47 PM
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In conclusion ... nothing is safe
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post #19 of 35 (permalink) Old 09-20-2004, 04:00 PM
 
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Quote:
Originally posted by Rev
In conclusion ... nothing is safe
so i take it you're keeping yer COLD CASH under your matress.. eh?
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post #20 of 35 (permalink) Old 09-20-2004, 04:08 PM
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paypal takes 2.5 percent of yor money




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post #21 of 35 (permalink) Old 09-20-2004, 04:09 PM
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Quote:
Originally posted by HDTony
paypal takes 2.5 percent of yor money
Not if you pay with checking account.
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post #22 of 35 (permalink) Old 09-20-2004, 04:15 PM
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paypal takes 3%. Even if someone brings a bank check I take them to the bank and have the bank verify it.
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post #23 of 35 (permalink) Old 09-20-2004, 04:17 PM
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Quote:
Originally posted by HDTony
...to be 100% safe you need to get the check and hold the bike till the fiunds clear, or do a wire transfer and have your bak verify the funds deposited while he is buying the bike from you...
I thought I'd read of more than one instance this past year where a bank processed a check, placed the money in someones account (giving the indication that all is well), and then later re-tracted it when they'd "actually done their homework".
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post #24 of 35 (permalink) Old 09-20-2004, 04:49 PM
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Quote:
Originally posted by mtrajano00
Wire transfer is also good. Cashiers check or money orders is good 2.
My choice if possible. Just have your banker let you know when it hits.

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post #25 of 35 (permalink) Old 09-20-2004, 05:24 PM
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I've had my fair experience of selling bikes. The best policy you can have is;

Take cash, or certified check, but DO NOT RELEASE THE BIKE OR TITLE UNTIL YOU HAVE DEPOSITED THE MONEY IN THE BANK WITHOUT ANY PROBLEMS!!!!

I have sold 3 bikes on Ebay and I have NEVER had a problem doing it this way.

2003 GSXR 750
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post #26 of 35 (permalink) Old 09-20-2004, 07:22 PM Thread Starter
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Quote:
Originally posted by XxTelefonicaxX
I've had my fair experience of selling bikes. The best policy you can have is;

Take cash, or certified check, but DO NOT RELEASE THE BIKE OR TITLE UNTIL YOU HAVE DEPOSITED THE MONEY IN THE BANK WITHOUT ANY PROBLEMS!!!!

I have sold 3 bikes on Ebay and I have NEVER had a problem doing it this way.
This sounds like good advise... I hate selling stuff :

Thanks everyone.

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post #27 of 35 (permalink) Old 09-20-2004, 07:28 PM
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Quote:
Originally posted by Ohfugit
I hate selling stuff :
I got a better plan for you then.


GIVE IT TO ME FOR FREEEEEEEEEEEEE!!!

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post #28 of 35 (permalink) Old 09-20-2004, 08:59 PM Thread Starter
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Quote:
Originally posted by krys
I got a better plan for you then.


GIVE IT TO ME FOR FREEEEEEEEEEEEE!!!
Thanks Krys, for trying to help a guy out,
nice to know you are looking out for my best interests

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post #29 of 35 (permalink) Old 09-20-2004, 10:16 PM
 
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you can also have postal money orders made. Those things are limited to $1k and they will have to get a few of them and will also receive a receipt that they can show you.
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post #30 of 35 (permalink) Old 09-20-2004, 11:07 PM
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Lets get one thing straight:

Cash may be necessary but Elvis is King!

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