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selling bike soon - best way to get the $$$?

greenmonster

greenmonster

Well-known member
Joined
Nov 7, 2013
Location
Pleasanton
Moto(s)
2022 Suzuki Hayabusa
Name
Ed
I'll be putting my bike up for sale in another month and I'm planning to sell it myself through BARF/Craigslist but it's been years.

Once I find a buyer what's the best way to get the money without getting screwed?
Of course, personal checks are out, and I'm leery about cashier's checks and money orders since a stop can be placed on them. Most buyers don't want to go to a person's home with thousands of dollars in cash which I understand, so what is the next best thing?
Meet at his or my bank and transfer funds there?
 
sanjuro said:
Cash in hand. Nothing else.
Click to expand...

True but if I'm the buyer walking into some stranger's house with a pocket full of cash I'd have all those stories playing in my head about rip-offs. Some people will not want to do that is all I'm saying.
For me the seller, cash is ideal.
 
Meet in public place.
If seller wants to buy the bike, go to his bank/credit union, get a cashiers check directly from teller.
Sign over title.

Or have him prepare a cashier's check ahead of time. Go with him to your bank, validate and deposit it.
Sign over title.
 
greenmonster said:
True but if I'm the buyer walking into some stranger's house with a pocket full of cash I'd have all those stories playing in my head about rip-offs. Some people will not want to do that is all I'm saying.
For me the seller, cash is ideal.
Click to expand...

someone who is serious about buying your bike knows that they will need to bring cash. make it simple for yourself, you are overthinking it
 
JMardy said:
Meet in public place.
If seller wants to buy the bike, go to his bank/credit union, get a cashiers check directly from teller.
Sign over title.

Or have him prepare a cashier's check ahead of time. Go with him to your bank, validate and deposit it.
Sign over title.
Click to expand...

This is what I was thinking
 
greenmonster said:
You sound like my wife - "keep it simple stupid"
Click to expand...

Yep, cash in hand. You can meet in a nearby public place like a parking lot and have a friend there if you're feeing a bit leery of the scene. But most buyers understand that cash is the way to make a bike transaction happen.



jjgirl13 said:
if you are weary.
Click to expand...

Why would he be tired?
 
I think cash in hand works great up to around 3k if you're buying something in an unfamiliar city. I wouldn't go see a 10k bike cash in hand in Oakland at night off some Craigslist ad. Add may be fake and seller may warn someone is coming with cash. He just don't have to be home at that time.
 
:laughing
Who would bring ten grand to Oakland at night to look at a bike??
 
I've done this before when selling a car, should work with a bike as well:

Buyer gets a ride to my place with friend/wife/whoever. Checks out vehicle, test rides/drives, whatever. If he decides to buy, he rides/drives the vehicle over to his bank. I follow on my bike with the title and bill of sale. I'm with him at the counter when he pull the cashiers check, made out to me, so there's no worries about a counterfeit document. We sign title and bill of sale right there at the bank, he goes on his way with his new vehicle, I hop back on my bike and ride right over to my bank to deposit the check. Easy peasy.
 
Selling Bike

( remember there are many thief's that will come and scope out your bike and area, so it is best for you to meet at a very public place, even a place with many riders , like 4 corners , or Alice's at Hwy 35 and 84 intersection.

I like to show up on my Motorcycle or car , alone when I am looking at a bike to buy / test , that way I can leave them my bike, or better yet they can ride mine while I ride/test theirs . ( make sure you have a insurance company like Geico, that has " inclusionary insurance " meaning anyone who rides your bike has the same coverage as you , and vice versa, if you are going to let someone ride your bike . just in case.

Once you have found a serious buyer,
Meet at , a BANK ! Best if it is your bank. Once they want to buy it , make it your bank .
In the lobby of the bank during business hours of course , to discuss and have them sign the papers . ( release of liability , transfer , etc. )
Then when He or She hands you the cash, go to the teller and check the cash then deposit it into your account.

If they want to meet at their bank, for their safety of not carrying a lot of cash, then , go and open a savings account there. and then you can go through all the paperwork at that location.
G.R.
 
Cash has always worked well for me, both buying and selling.

Second to that is handling the transaction at the buyer's bank. I've done that too. There is no worry with a cashier's check if you're both there when it was created.


One word of warning if you go to the bank. I did that once and just wanted to make an electronic transfer out of my account and into the seller's account. It was such a hassle, that next time I will get cash out (I'm now done with my part) and the seller can then immediately turn around and deposit that cash (now he's done). It would have been way faster. I don't know why the bank made the transfer from one account to the other so difficult.
 
The way I bought mine, and what I will probably do when I sell, is to meet at your bank. Go in together and have the bank teller take his money, count it, and deposit it into your account. Right after that, while still in the bank, sign over the title. Seems legitimate.

Best,
-Mason
 
cash is king. I've bought bikes wih $14,000 in cash in my pocket.
 
ScottRNelson said:
Cash has always worked well for me, both buying and selling.

Second to that is handling the transaction at the buyer's bank. I've done that too. There is no worry with a cashier's check if you're both there when it was created.


One word of warning if you go to the bank. I did that once and just wanted to make an electronic transfer out of my account and into the seller's account. It was such a hassle, that next time I will get cash out (I'm now done with my part) and the seller can then immediately turn around and deposit that cash (now he's done). It would have been way faster. I don't know why the bank made the transfer from one account to the other so difficult.
Click to expand...

Good tip about the hassle of transferring vs cash. It would seem like the bank could just click click send but I guess with all the regulations we have it ain't that simple.
Again, cash is king
 
I wonder if one can just load an American Express Global traveller or some form of traveller check with say 14k. Any ATM will tell you how much is in it, and it should be good enough for the parties? Never seen those in America though.
 
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