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

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.