Safest way to sell a bike to a stranger?

[Molly]

Got a bloke coming down from the NI for my Harley this weekend. $26,000 is a lot of cash to carry so he's keen to pay by bank cheque. I'm less keen as I wouldn't know a straight bank cheque from a dodgy one. A bank transfer concerns me a bit too as I need to be certain it's cleared funds before I wave the bike into the distance.

Is this just my 'I used to live in Liverpool' paranoia or am I right to think cash is still king?

What would you do?

[Headbanger]

Cash only. I could print you out a rinky dinky looking bank cheque if thats what you wanted.

He just needs to ring the bank beforehand so they can organise the funds to be available.

[Metalor]

What if you arranged to go to the bank with him and see it all done in front of you so you know it's not dodgy. I got a bank cheque out when I bought my bike.. although was for a considerably smaller amount :P

[Blackshear]

Cash only, or a trip to the bank with them.
They will understand if genuinely interested in your bike.

[98tls]

When the deal is one simply xplain how you feel and drive him and bank check to bank and get it verified......easy.

[tigertim20]

Come on guys, its the 21st century. open up the internet, and have him automatically transfer the funds. Or travel down to the bank together and do it. I dont trust cheques either as they can be cancelled so easily. I would go with the internet, if you are with the same bank, it will be instantly trransferred

[98tls]

Come on guys, its the 21st century. open up the internet, and have him automatically transfer the funds. Or travel down to the bank together and do it. I dont trust cheques either as they can be cancelled so easily. I would go with the internet, if you are with the same bank, it will be instantly trransferred :rofl::rofl:You trust the Internet?

[wickle]

I think there is a limit you can transfer via internet, go to bank get them to do transfer on spot and get proof of transfer(print out)

[cowboyz]

how does he know you are going to give him the bike after he gives you $26000 in cash?

[sil3nt]

With National Bank i could only transfer $1000 at a time so i had to do it over 2 days. You can call your bank and get them to change the limit. If i were transferring $26,000 i would go down to the bank and get them to sort it all out!

[Metalor]

how does he know you are going to give him the bike after he gives you $26000 in cash?

Cowboyz! How ya going man?

I reckon he should ride the bike to the bank for him and do the cheque business then and there.

[325rocket]

what about paypal?

[Conquiztador]

If he is turning up middle of the week in time for you both to go to the bank then all is sweet. You go there together and the bank cheque is confirmed. Done.

If he is planning to come on the w/e with his bank cheque say no.

To get a bank cheque he needs to have the money. Either in his account or in cash and then buy the bank cheque from the bank.

However, you also need to see it from his side. To travel with a big bunch of cash is not what anyone would like to do. And perhaps he does not want anyone to know that he has that much money (if deposited in his account then it can be traced...). And to deposit 26K in to a unknows bank account and then travel to pick up a bike. I would NOT do it. As much as he might be dodgy so might you be.

The third option is to take the bike to a place that you both trust: A bike shop or any other place. Or an individual. They confirm that the bike is genuine. He then deposits the money in to their account. (Or direct in to your account) In cash! (Cheque will take up to 7 days to clear) And he comes to pick up the bike, you get the money less any handling fees they want for doing the deal for you. And it is done.

Or get your patched mates to be there when he turns up...

Personally I would accept one of these options:
- Cash in hand
- Money in my account.

Good Luck!

[robo555]

Go to bank together and get the cheque clear on the spot, I think it's only about $30.

[Molly]

Problem was one of timing. He's coming down over the weekend so we can't go to the bank together. No disrespect to the man but I can't take a chance on the bank cheque.

As for him trusting me? Well, he's coming to my home so at least will know where I live, and if he puts my name in Google he'll get some info on my from my school profile (I'm a teacher y'see).

Cheers for the replies. You'd think in this day and age it'd be easier than this.

[mynameis]

There's always that delima:

You think and worry about someone riding away with your pride and joy without paying.

He/She thinks you'll run away with their hard earned cash on your bike.

So it works both ways.

There will be some banks open over the weekend, if you both use the same bank then it's easy.

If not he can actually make prior arrangements with his bank/specific branch to hold that amount of cash and you both can go to the bank together and get it sorted there.

Cash the cheque take the money, fill out the forms he takes the bike.

Bobs your uncle. $30k cash actually isn't as bulky as you may think it is. (In $100 bills)

[YellowDog]

Look Molly, I do know where you have come from and what you are used to.

This is New Zealand. Everyone is honest and trust worthy.

Give the guy the bike and ask him to pay for it or return after he's had a good go.

It'll be fine.

[mynameis]

Look Molly, I do know where you have come from and what you are used to.

This is New Zealand. Everyone is honest and trust worthy.

Give the guy the bike and ask him to pay for it or return after he's had a good go.

It'll be fine.

15+ years ago if you said that I would agree with you, but not now.

Think of it logically:

Why take the risk of potentially losing 26k, when you can avoid it? (Although I understnad where you're coming from, chances are it's not gonna happen)

But why take the risk though.

[jellywrestler]

pretty simple really, take a photo of him with the bike and if the bank cheque doesn't ring true good ID, if he bought it through trade me you have their bullet proof address verification and their back up if it turns sour.[yeah right]

[mynameis]

Come on guys, its the 21st century. open up the internet, and have him automatically transfer the funds.

I would go with the internet, if you are with the same bank, it will be instantly trransferred



Anyone with 1% of their brain functioning properly won't open up their bank account at some random strangers place from an unknown PC.

[mossy1200]

A bank cheque made to your name is not reversable so they cant get it stoped once it has been presented.
Go with him to bank and remember once the bank issues that cheque the money has already been removed from his account and that money belongs to trhe bank until presented and not him.
it is very safe but even safer is getting him to come with you to the bank where you deposit the cheque into your account.

[mynameis]

A bank cheque made to your name is not reversable so they cant get it stoped once it has been presented.

But accounts can be frozen to prevent the moeny being withdrawn.




Go with him to bank and remember once the bank issues that cheque the money has already been removed from his account and that money belongs to trhe bank until presented and not him.
it is very safe but even safer is getting him to come with you to the bank where you deposit the cheque into your account.



And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.

[Grahameeboy]

But accounts can be frozen to prevent the moeny being withdrawn.



And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.

Surely with a banker's draft the money has already been allocated....

[Molly]

I'm always this paranoid and, so far, have never been let down. The bloke's just phoned and he's flying down tomorrow so it can be taken care of in the bank.

I just don't think you should ever risk anything you can't afford to lose: cash, computer files, passports, motorbikes.... Sheesh, talk about '<i>the things you own will end up owning you'</i>.

[NinjaBoy]

it is very safe but even safer is getting him to come with you to the bank where you deposit the cheque into your account.

How is this safer ? I'm curious ? are you expecting the teller to pick out a forgery from the real thing ?


But accounts can be frozen to prevent the moeny being withdrawn.

And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.

You seemed to have missed the point of how Genuine bank cheques work.

I've accepted Bank cheques for larger amounts than this for vehicle transactions without issue. The other alternative is to get him to transfer to your account and wait for the few days for it to clear before doing the exchange. It requires a high degree of trust on his part though.

[mossy1200]

But accounts can be frozen to prevent the moeny being withdrawn.



And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.


Bankers draft cant be frozen.i purchaced a gto car using one and the guy had blown the second turbo between the time we test drove and the time we collected.We tried to get the unpresented cheque stopped and they wouldnt do it unless instructed by the courts to do so in the case of fraud.
We had to go visit the guys father and he got the cheque back off his son and delivered it back to us to take it back to our bank and have it cancelled and the funds re allocated into our account.
Bank cheques take three days to hit your account unless you bank at the same bank as the cheque came from.
The money leaves his account the minute it is issued.

[mossy1200]

These are the bank cheque details so you can check them out.
http://www.nzba.org.nz/CodeofBanking07/code.4.cheques.html

Refer note 4 at the bottom.

[Gareth51]

Here's me thinking 26k under your mattress makes your place a good target or you taking it to the bank worth a hold up:2guns::2guns:

[cowboyz]

Cowboyz! How ya going man?

I reckon he should ride the bike to the bank for him and do the cheque business then and there.


good .. how you getting on with that hornet?


Problem was one of timing. He's coming down over the weekend so we can't go to the bank together. No disrespect to the man but I can't take a chance on the bank cheque.

As for him trusting me? Well, he's coming to my home so at least will know where I live, and if he puts my name in Google he'll get some info on my from my school profile (I'm a teacher y'see).

Cheers for the replies. You'd think in this day and age it'd be easier than this.


IFAIK bank cheques cant be stopped/transferred and are as good as cash.

But on the flipside. If he is shelling out $26k you'd think he can take a week day off work to come down and sort it out.

[Metalor]

good .. how you getting on with that hornet?



Good thanks mate, I'm loving it. Done more than 5000ks already. Haven't had anymore embarrassing moments on it either :P

[cowboyz]

this is good news

[Headbanger]

IFAIK bank cheques cant be stopped/transferred and are as good as cash.


We were instructed by our accountants at least 10 years ago to stop accepting bank cheques as fraud had got to the point that banks had advised they wouldn't honour their own cheques if they believed they were dodgy. And this in relation to cheques drawn up and legitimately issued by the banks in question.

The loopholes being exploited back then may now be closed, but it meant the end of viewing the actual Bank cheque as holding the worth of the amount printed on it. Its just a bit of paper with an IOU on it.

[caseye]

pretty simple really, take a photo of him with the bike and if the bank cheque doesn't ring true good ID, if he bought it through trade me you have their bullet proof address verification and their back up if it turns sour.[yeah right]

Sorry jellywrestler but it seems you need to know this.Theres nothing bullet proof about Tardme sending a letter to an address to verify someones actual address.too easy send them the address, pick up the mail for the next week send it back bingo address(not yours ) verified.

Also their back up? what would that be?"you've been a naughty, naughty boy give the money back this instant" sorry they don't do that either.

Trust your own insticnts and now that you can go to the bank together, be happy, send him off with the bike knowing that cash is yours.

[Mystic13]

I think it's fair to be cautious and in my experience...

- a bank cheque can definitely be stopped.
- I take an objective look at who has bought the bike. I generally like to get phone numbers and ring them back before I hand out an address. My concern is the bike being borrowed before they turn up.
- Secondly If in doubt ( or I have that little voice popping up) I say that the bike is stored at my brothers place but I'll go and get it on the day and bring it over. Or vice versa. The plan is to leave them with the impression it's stored elsewhere.
- In the weekend I'd only accept cash. Unless they are with ASB as I am, in which case it's an instant transfer of cleared funds.
- If they want to come in the weekend with a bank cheque I would be asking them to do the transaction on the business day. I'm not going to allow myself to be put out and take a risk. You can get an on the spot special answer on a bank cheque. They phone the issuing branch. At this point the issuing branch will not cancel it.
- Alternatively you go with him to the bank and the bank person hands you the bank cheque and you walk over to your bank, get the persons name for the special answer phone call.

I'm easy going and working with the person expecting all will go well and on the other hand cautious. Never hand them your part of the Notice of Sale. Their portion only requires their signature. You should only send yours in when funds clear. If you give them your portion then your stuffed if all goes wrong.

On the receipt I always sign the receipt of funds and the sale is conditional on the funds clearing. I don't want a dispute when I go to retrieve a bike that hasn't been paid for.

I have had to help a friend retrieve his car when the funds didn't go through.

I've never had a bike transaction go wrong and so far all buyers have been great. Riders are a good bunch although there are a few bikes being reported stolen after being advertised on TM.

Good luck with the sale. I'm sure you'll have a smooth transaction and you both will be happy. If you do receive cash let them know you'll be shooting down to the bank to drop it in their after hours deposit box if the bank isn't open. Again I'd be wanting to leave them with the impression that you don't have the cash on you for the remainder of the weekend.

I once had an Indian dairy owner wanting to buy our house with a $70,000 deposit, cash and he didn't want it listed on the sale and purchase agreement. It was the weekend and he wanted to go home and bring it back. I couldn't do the transaction on that basis and we didn't proceed. At least $70G under his matress. Scary stuff.

[Owl]

I sold my old Harley to an M/C member for cash. Didn't argue price, ask to ride it or even hear it run.:shit:

Top bloke and even helped me count the cash!:2thumbsup

[The Stranger]

But accounts can be frozen to prevent the moeny being withdrawn.



And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.

A bank cheque is a cheque from the bank. The bank takes the funds from him at the time they issue it. There is no question as to whether or not the funds are available.
The risk is if the bank cheque is a fake or has been altered. Many banks use printed bank cheques, which are hard to alter, however, it still may be counterfeit. Some (ASB) is one, hand write theirs and are more susceptible to being altered.

[The Stranger]

I think it's fair to be cautious and in my experience...

- a bank cheque can definitely be stopped.


From the Code of banking practice.

"Bank Cheques cannot be stopped for example, because you have changed your mind about a transaction after handing the cheque over to another person or a transaction between the parties has broken down through the supply of faulty goods and services."

Yes they can be stopped by various means (court orders, fraud, forged etc) but any of there things could potentially f you up anyway. It's not like your common garden variety personal cheque in that regard, which can be stopped simply with a phone call.

[chef]

man you would be crazy taking a cheque. go to the bank with him dont trust internet banking now eather you can cancel transactions now on those too.

[Headbanger]

It's not like your common garden variety personal cheque in that regard, which can be stopped simply with a phone call.

It can, It just requires some cunning and an international transaction.

[skidMark]

how does he know you are going to give him the bike after he gives you $26000 in cash?


I thought it was a like stand at 10 paces and a 3rd and 4th party steps in and hands them over at same time, kind of like safetrader but with more guns horses and lasso's

[Espresso]

Internet transfers are not instantaneous and they are reversible. How do I know - just got told by Westpac for almost the exact same situation. Say he turns up, even on a weekday..all goes well, he logs on or has already logged onto his bank and transfers the money before your eyes on a computer, or shows you proof of funds transfer (printout of bank transfer details).
Up until 10 o'clock that night the transfer can be reversed.

It took me by surprise, but that's what the bank manager from Westpac here explained to me.

[robo555]

You're in Christchurch. Banks open on weekends.

[CookMySock]

But accounts can be frozen to prevent the moeny being withdrawn.It doesnt work that way. The 26k has already been withdrawn from his account. The cheque is now issued by the bank, not him. The only concern is whether the cheque is physically authentic.


And what if the account doesn't have $26k and you've signed the forms and handed over the bike and the cheque bounces after a few days.As above, it is not his account that is in question - it is the banks' account. If the cheque is authentic it will go through.


Surely with a banker's draft the money has already been allocated....Exactly.

Since the transaction is taking place outside working hours, I would be wanting to call the bank and quoting the cheque number, and asking them if this is kosher - they will tell you yes or no right away.

So you need to know what bank the cheque will be from, and then you need their 0800 number, and then you should call them up ASAP and make sure you can in fact do what I am suggesting.

Let us know how you get on.

Steve

[CookMySock]

I once had an Indian dairy owner wanting to buy our house with a $70,000 deposit, cash and he didn't want it listed on the sale and purchase agreement. It was the weekend and he wanted to go home and bring it back. I couldn't do the transaction on that basis and we didn't proceed. At least $70G under his matress. Scary stuff.LOL someone has been skim^H^H^H^Hsaving hard. :sunny:

Steve

[Disco Dan]

This is fantastic...

The most simply of transactions has been blown out of proportion by a bunch of people all thinking they know better!!!! :blink::Punk:

[CookMySock]

The most simply of transactions has been blown out of proportion by a bunch of people all thinking they know better!!!! :blink::Punk:No it isn't. It's just one of the crew who needs some reassurance on what he percieves to be a risky transaction. See, even harley riders have feelings! Who would have thought... :yes:

Steve

[Disco Dan]

No it isn't. It's just one of the crew who needs some reassurance on what he percieves to be a risky transaction. See, even harley riders have feelings! Who would have thought... :yes:

Steve

errr righto...

Half a dozen people are running around squealing that bankers cheques are bad and are at this moment sharpening their pitchforks... another lot, actually know what they are talking about and giving good advice about using said cheques.. then you get the odd person that mentions horse rustling, cash and even taking a bloody picture of the bloke "just in case" ....I mean really?

I haven't even had a bank account for flipping years until recently I even I know how secure a bank cheque is. Heck that is why they cost $5 usually - the funds are put aside so the cheque is guaranteed until it is cashed by the person written on it. Pretty flipping straight forward isn't it... Crikey.. how many pages did that take??? ...mind boggles...

[Headbanger]

I haven't even had a bank account for flipping years until recently I even I know

Cool, So your ignorant.

Bank Cheque fraud before and after the creation of the cheque is nothing new.

Some people (myself included) therefore wouldn't accept them and would nominate cash payment, Others would accept the cheque and take extra precautions.(present it to the bank with the buyer).

Perhaps you should just read and learn a little.

[Disco Dan]

Cool, So your ignorant.

Bank Cheque fraud before and after the creation of the cheque is nothing new.

Some people (myself included) therefore wouldn't accept them and would nominate cash payment, Others would accept the cheque and take extra precautions.(present it to the bank with the buyer).

Perhaps you should just read and learn a little.

So do you prefer 3 prongs or 4 ?

[Headbanger]

So do you prefer 3 prongs or 4 ?

Information over ignorance.

[mynameis]

How is this safer ? I'm curious ? are you expecting the teller to pick out a forgery from the real thing ?



You seemed to have missed the point of how Genuine bank cheques work.

I've accepted Bank cheques for larger amounts than this for vehicle transactions without issue. The other alternative is to get him to transfer to your account and wait for the few days for it to clear before doing the exchange. It requires a high degree of trust on his part though.


Bankers draft cant be frozen.i purchaced a gto car using one and the guy had blown the second turbo between the time we test drove and the time we collected.We tried to get the unpresented cheque stopped and they wouldnt do it unless instructed by the courts to do so in the case of fraud.
We had to go visit the guys father and he got the cheque back off his son and delivered it back to us to take it back to our bank and have it cancelled and the funds re allocated into our account.
Bank cheques take three days to hit your account unless you bank at the same bank as the cheque came from.
The money leaves his account the minute it is issued.


A bank cheque is a cheque from the bank. The bank takes the funds from him at the time they issue it. There is no question as to whether or not the funds are available.
The risk is if the bank cheque is a fake or has been altered. Many banks use printed bank cheques, which are hard to alter, however, it still may be counterfeit. Some (ASB) is one, hand write theirs and are more susceptible to being altered.

You all seem to have missed the point on how common bank cheque fraud is.

[Max Preload]

A bank cheque made to your name is not reversable so they cant get it stoped once it has been presented.
Go with him to bank and remember once the bank issues that cheque the money has already been removed from his account and that money belongs to trhe bank until presented and not him.
it is very safe but even safer is getting him to come with you to the bank where you deposit the cheque into your account.

Bank cheques can be stopped. Bank cheques are not nearly as secure as many think.

A common scam used to be to buy a low value bank cheque, alter it, buy a vehicle with it Friday night, sell it cheap over the weekend and the previous owner was never aware of the scam until he went to bank the cheque on the Monday - in the meantime the car had already been moved on and the fraudster had made his profit.

Internet banking on an unknown computer is rort with security risks, keystroke loggers etc so he may or may not agree to doing it right there and then. In any case, so far as I'm aware, ASB is the only bank that does instant internal transfers - the rest I believe are still overnight - at least that's the case with Theftpac.

You're going to have to go with your gut on this one.

[mynameis]

I think it's fair to be cautious and in my experience...

- a bank cheque can definitely be stopped.
- I take an objective look at who has bought the bike. I generally like to get phone numbers and ring them back before I hand out an address. My concern is the bike being borrowed before they turn up.
- Secondly If in doubt ( or I have that little voice popping up) I say that the bike is stored at my brothers place but I'll go and get it on the day and bring it over. Or vice versa. The plan is to leave them with the impression it's stored elsewhere.
- In the weekend I'd only accept cash. Unless they are with ASB as I am, in which case it's an instant transfer of cleared funds.
- If they want to come in the weekend with a bank cheque I would be asking them to do the transaction on the business day. I'm not going to allow myself to be put out and take a risk. You can get an on the spot special answer on a bank cheque. They phone the issuing branch. At this point the issuing branch will not cancel it.
- Alternatively you go with him to the bank and the bank person hands you the bank cheque and you walk over to your bank, get the persons name for the special answer phone call.

I'm easy going and working with the person expecting all will go well and on the other hand cautious. Never hand them your part of the Notice of Sale. Their portion only requires their signature. You should only send yours in when funds clear. If you give them your portion then your stuffed if all goes wrong.

On the receipt I always sign the receipt of funds and the sale is conditional on the funds clearing. I don't want a dispute when I go to retrieve a bike that hasn't been paid for.

I have had to help a friend retrieve his car when the funds didn't go through.

I've never had a bike transaction go wrong and so far all buyers have been great. Riders are a good bunch although there are a few bikes being reported stolen after being advertised on TM.

Good luck with the sale. I'm sure you'll have a smooth transaction and you both will be happy. If you do receive cash let them know you'll be shooting down to the bank to drop it in their after hours deposit box if the bank isn't open. Again I'd be wanting to leave them with the impression that you don't have the cash on you for the remainder of the weekend.

I once had an Indian dairy owner wanting to buy our house with a $70,000 deposit, cash and he didn't want it listed on the sale and purchase agreement. It was the weekend and he wanted to go home and bring it back. I couldn't do the transaction on that basis and we didn't proceed. At least $70G under his matress. Scary stuff.

+1


It can, It just requires some cunning and an international transaction.


Cool, So your ignorant.

Bank Cheque fraud before and after the creation of the cheque is nothing new.

Some people (myself included) therefore wouldn't accept them and would nominate cash payment, Others would accept the cheque and take extra precautions.(present it to the bank with the buyer).

Perhaps you should just read and learn a little.

+1


Bank cheques can be stopped. Bank cheques are not as secure as everyone thinks.

A common scam used to be to buy a low value bank cheque, alter it, buy a vehicle with it Friday night, sell it cheap over the weekend and the previous owner was never aware of the scam until he went to bank the cheque on the Monday - in the meantime the car had already been moved on and the fraudster had made his profit.

Internet banking on an unknown computer is rort with security risks, keystroke loggers etc so he may or may not agree to doing it right there and then. In any case, so far as I'm aware, ASB is the only bank that does instant internal transfers - the rest I believe are still overnight - at least that's the case with Theftpac.

You're going to have to go with your gut on this one.

+1

Thanks for the simple example.


Like they said it's not as secure as people think they are.

[popelli]

I right to think cash is still king?




in god we trust all others pay cash

if the guy is serious there will not be a problem with wanting cash

if he wants to pay by cheque / bank draft or what ever wait untill it has cleared

[The Stranger]

You all seem to have missed the point on how common bank cheque fraud is.

Ah, my posts sets out the pitfalls of relying on them and how they can be altered, but you are right, I don't know exactly how common it is.
Please give us the figures.

[MadDuck]

http://www.nzba.org.nz/pdfs/Retail%20Payments%20Pamphlet.pdf

Note table on page 2.

[Conquiztador]

In any case, so far as I'm aware, ASB is the only bank that does instant internal transfers - the rest I believe are still overnight - at least that's the case with Theftpac.


KiwiBank does instant internal transfers 24/7 and that includes Saturday and Sunday.

[Molly]

My concern with the bank cheque was simply that I would've needed to know it was real. As it happens he's bringing cash so now I just have to be paranoid that it's not counterfeit...

Thanks for all the replies. I suppose it's a worthwhile thread since we all have to do similar transactions from time to time and I'm not one for taking risks with this sort of money.

[Indiana_Jones]

<img src="http://www.nvsh.nl/contraception/pictures/condomFemale2.jpg">


You use protection.

-Indy

[mossy1200]

My concern with the bank cheque was simply that I would've needed to know it was real. As it happens he's bringing cash so now I just have to be paranoid that it's not counterfeit...

Thanks for all the replies. I suppose it's a worthwhile thread since we all have to do similar transactions from time to time and I'm not one for taking risks with this sort of money.
24k in cash and 1k in hash and one 1k in coke.
Now you can still be paranoid.
He may intend to visit a few banks on the way down to collect your bike.LOL

Hope all goes well.You did well selling a bike worth so much in a private sale.

[Molly]

Hope all goes well.You did well selling a bike worth so much in a private sale.

Actually, could've sold it twice. Had the bike on the drive tonight and a chap in a posh Range Rover stopped. He said he'd seen it on TradeMe but hadn't been well so was unable to pop round (he lives in the next street). Anyway, after a wee chat he gave me his card and said if the buyer lets me down 'or even hiccups' he'll have it. Good to have a backup.

Now, just got to find that nice Speedmaster I've been looking for. Picked up a 1968 Bonnie tonight too - bit of a 'bitsa' project bike - it'll be for the wife.

<a href="http://s677.photobucket.com/albums/vv137/brianmolyneux/?action=view&current=Bonnie.jpg" target="_blank"><img src="http://i677.photobucket.com/albums/vv137/brianmolyneux/Bonnie.jpg" border="0" alt="Photobucket"></a>

[marty]

My concern with the bank cheque was simply that I would've needed to know it was real. As it happens he's bringing cash so now I just have to be paranoid that it's not counterfeit...

.

How on earth do you sleep at night?

270 $100 notes - that's not too hard. I once sold a caravan for $18k and took cash for the lot.

[Headbanger]

I walked between banks with 24 grand in my wallet, I turned into Ninja, Checking up the road, roof lines (attack from above was suspected) sticking close to buildings, keep space from people.

Fuckin felt like a tool.

A tool with 24 grand though.....

[marty]

Wasn't a short fat asian guy that bought it was it?

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10589356

[ynot slow]

If you want to deposit the money and banks are closed,go to a local TAB outlet,open a betting account on the spot,deposit money into it,on Monday do a withdrawel from your account,less any bets taken lol.

Seriously this is a safe way over weekend and totally legal,you can then go with TAB manager to the bank and he can withdraw funds,or take a TAB cheque and present it at bank,they have over $100 million in reserves so won't bounce.You need to show ID at withdrawel time.

[mstriumph]

I sold my old Harley to an M/C member for cash. Didn't argue price, ask to ride it or even hear it run.:shit:

Top bloke and even helped me count the cash!:2thumbsup

ditto ditto with my Triumph ........ most pleasant transaction ever .. helluva nice guy

[bsasuper]

If the buyer is that keen on a bike purchase, he will bring cash.I had a geezer turn up with a personal cheque even though I said cash, I said no way cash only, he said ok and went straight down to the bank and came back with a bank cheque, I said no, cash only,he said but the money is there, I said fine then go get it, he said ok then, and never came back.I now sell buy purchase and test ride method, they buy the bike with cash, then they take it for a test ride, If they dont like it, ill give the money back, weeds out the tyre kickers.

[Molly]

Transaction went smoothly. He paid cash (all real - ha ha), sorted out his insurance and followed me until he knew where he was heading. Nice bloke as it happens.

I was a bit low for just a moment as he overtook and headed north but what the hell. Hadn't had the bike long enough to get attached. Anyway, I don't think I'd buy another new HD even if I had lottery money. Nice old Knuckle / Panhead or even a tidy Evo Springer again maybe but not a newbie.

[usa-vtwin]

[QUOTE=Molly; Anyway, I don't think I'd buy another new HD even if I had lottery money. Nice old Knuckle / Panhead or even a tidy Evo Springer again maybe but not a newbie.[/QUOTE]

Whys that Molly?

[Molly]

Whys that Molly?

Nothing wrong with a new HD. Don't get me wrong. They're great bikes. I just don't want to make the investment of time necessary to keep a new bike 'new'. In truth, I also find them a bit souless. That said, I fired up my HD this morning and thought how substantial that big sound and rumble really is.

Anyway, my old Guzzi goes out rain or shine, gets a clean when it needs it, and is just enjoyed. That makes more sense to me.

[tate35]

A bank cheque is usually pretty safe, as the person goes to the bank and tells the bank the amount the chq needs to be written out for and it is my understanding that a 'bank' cheque can not be stopped or canceled unlike a 'personal' cheque. But to be on the safe side as it is $26,000 after all - go to the bank with him :yes:

[Markw336]

i would just take cash but apart from that you could have a cop come around if you were scared (or just carry an uzi haha)

[vgcspares]

Look Molly, I do know where you have come from and what you are used to.

This is New Zealand. Everyone is honest and trust worthy.

Give the guy the bike and ask him to pay for it or return after he's had a good go.

It'll be fine.

I've been scanning the thread for a response from Yellow Dog to the reply that took his post seriously and can't find one ... no surprises there then but was looking forward to it nonetheless

[HenryDorsetCase]

A bank cheque is usually pretty safe, as the person goes to the bank and tells the bank the amount the chq needs to be written out for and it is my understanding that a 'bank' cheque can not be stopped or canceled unlike a 'personal' cheque. But to be on the safe side as it is $26,000 after all - go to the bank with him :yes:

there is Court of Appeal authority that supports the proposition that a Bank cheque is equivalent to cash money.

Another way to do this is to get them to get their bank to transfer the funds to your account, and for the bank (not them) to verify to you that the money is real money, cleared and will not be reversed. Usually they will fax or email you.

Most of our property purchases now are settled using an electronic equivalent of the bank cheque called Same Day Cleared Payment. basically we instruct our bank to chuck money at an account, the money is sucked out of our account, and put thru the Reserve Bank in real time, and plopped into the recipient account: their branch then sends the person receiving a fax confirmation that yes they have the money. It can't be reversed either.


But I'd still like the folding money. ;)

[BiK3RChiK]

I've done an on-line transaction in front of the person I was buying goods from and they've been happy enough with that. From memory, it was a sizeable sum too. The transaction was done on their computer too, but I'm not sure I'd do that again. I'd take my own laptop and plug it in to avoid spyware or keylogger thieving scum. The bank can increase the amount of on-line transaction you can transfer, if you ask them.

[elle-f]

I learned that if you were given a bank cheque and lost it - too bad. errr, i was told that - thankfully it hasn't happened yet....(touch wood)

[jimichelle]

when i sold my boat for just shy of 20k i gave him my acc number when he came around i rang and checked my balance and he towed it away
a very sad day still 5 years later sobs