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THE LOBBY A gathering place. Introductions, sports, showin' off your ride, birthday-anniversary-milestone, achievements, family oriented humor. |
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#1
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Best form of payment for $6,000 item
I'm looking to sell a motorcycle that should bring in the area of $6k, probably on FB marketplace. I'm wondering what forms of payment I should consider other than cash ... if any?
These days I know nothing except cash is really totally safe. Bank/Cashiers check from a local bank? But I guess if they have a cashiers check from a local bank I should just ask them to go cash it and bring back the cash. I usually pay for anything in that price range with cash. Not sure what others are doing these days.
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#2
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Cash only.
$6,000.00 is chump change, shouldn’t be a big deal for the buyer to bring that amount to complete the transaction.
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1964 Tempest Coupe LS3/4L70E/3.42 1964 Le Mans Convertible 421 HO/TH350/2.56 2002 WS6 Convertible LS1/4L60E/3.23 |
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#3
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Cash is King!
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Buzzards gotta eat... same as worms. |
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#4
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Depends
Is the Buyer showing up in person
to pick up ? If so, then you can meet at your bank and have the cash the Buyer brings checked & counted. You can also have a bill of sale along with the title/registration transferred and notarized. On the bill of sale and on the title/registration close them out before leaving bank. Never pass along an open title. Put the time and date of sale on the bill of sale. Jim
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#5
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Crypto or western union wire transfer of course.
Ha! |
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#6
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Money order from the Bank of Nigeria. Fees may apply.
Honestly? CASH! No record, no taxes, no brainer.
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" Darksiders Rule "
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#7
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PayPal or a postal money order or a check just hold item till it clears. Cash is still #1 in my book but have personally used all with great success.
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#8
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Many banks will do an electronic transfer, although it may depend on what type of bank accounts you and the buyer have.
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#9
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Last time I sold one we met at the bank (we had the same bank) and transferred straight from him to me.
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Mike |
#10
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After looking at and agreeing on a price for the car we went to my bank to have a cashier's check made out to the seller and handed directly to them there in the bank. I was lucky my bank had a branch in that small town and was able to make the 6hr ride home with the car and title in hand.
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#11
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Cash can also be iffy. Check bills carefully.
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#12
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I would take the crypto. Once it’s in my wallet it’s mine. As long as I see it deposit.
If it’s a local transaction I agree 6k shouldn’t be hard to get. I’ve bought a couple of cars long distance and used wires both as a buyer and seller. The last one I sent the guy the title, he sent the money and I still had the car until money went through so we both felt like we had something.
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#13
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Thanks gentlemen.
Yes I would expect the person (bike not sold yet) to pick it up in person. And I don't imagine it would be a very long distance sale ... probably within a couple hundred miles. 2000 Honda RC51 in case anyone is interested 9,400 miles.
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#14
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Motorcycle parked in the living room...I assume you're single?
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#15
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Nope ... the wife's sport bike is out of the view, but in the same room.
She's a keeper ... by the way she is keeping HER bike, I'm selling mine PS. I doesn't normally sit right in the middle of the room, they are parked in a corner.
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#16
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And you can tell they are not Brit bikes! Good looking bike, if my back felt better I would be tempted.
I had always thought that a cashiers check was the way to go until they were talking on another forum about scams involving those being forged! IF I were selling, I would want a cashiers check, cashed at my bank before I handed over any paperwork. Legit buyer would have no problem with that. Of course cash would be preferred and I suppose I am an old curmudgeon but I wouldnt sell an ice pop for anything krypto. |
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#17
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Hehe... Yep, I don't think this bike has leaked a drop of anything in the 23 years I've owned it.
I'm leaning towards "Cash only, adults, no test rides" This particular bike is enjoying somewhat of a resurgence in interest lately, I want to take advantage of the going price while I can. Absolutely pristine low mileage examples are selling for more than their original MSRP of $11k. Kind of a weird bike, Honda specifically built them to compete with Ducati in the 2000-2002 World Superbike Championship. Which they won two years in a row. Has four all gear drive camshafts (7 gears between crank and cams), FI of course, cylinder block is split horizontally with the cylinder jugs made as a single unit with the top of the crankcase. 1000cc v-twin with about a 10,000 rpm redline.
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#18
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It is a pretty cool bike.
I've been known to have motorcycles parked in my living room as well - at various times there were couple different vintage Suzuki sport bikes (an original Katana and a Wes Cooley replica), a Benelli, and a minibike I used to sit on when watching TV. Speaking of sport bikes you may like this video of Guy Martin riding a new rotary motorcycle, the Crighton CR700W. 220hp, 142nm, 700cc twin rotor, built in the UK. Price is £95,000 and there is a limited production of just 25 bikes planned. Stick around to the end of the video for Guy's comments. https://www.youtube.com/watch?v=SHtz8tlavY0 |
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#19
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I always do an Interac E-transfer now. Works great. Especially when dealing with people out of country. It’s fast, reliable and safe. Also super cheap. Sometimes it takes about a half hour to go through if it’s over 1000.00.
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#20
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Stuart, jeez, got goosebumps soon as he wound it up on the track. That's a piece of work. Wonder if he has any plans to race one. Specs are right in line with a modern MotoGP bike ... but at 300cc less.
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