Safest way to sell a bike to a stranger?

**mynameis** · 6th August 2009, 21:17

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** · 6th August 2009, 21:20

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** · 6th August 2009, 21:24

Originally Posted by 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.

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** · 6th August 2009, 21:28

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** · 6th August 2009, 21:30

Originally Posted by tigertim20

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** · 6th August 2009, 21:36

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** · 6th August 2009, 21:38

Originally Posted by mossy1200

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.

Originally Posted by mossy1200

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** · 6th August 2009, 21:46

Originally Posted by mynameis

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** · 6th August 2009, 21:52

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 'the things you own will end up owning you'.

**NinjaBoy** · 6th August 2009, 21:56

Originally Posted by mossy1200

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 ?

Originally Posted by mynameis

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** · 6th August 2009, 22:00

Originally Posted by mynameis

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** · 6th August 2009, 22:13

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

Refer note 4 at the bottom.

**Gareth51** · 6th August 2009, 22:30

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

**cowboyz** · 6th August 2009, 22:31

Originally Posted by Metalor

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?

Originally Posted by 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.

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.