How to accept payment for Travel Trailer

[MetalGator]

I will be putting my Travel Trailer up for sale soon (just bought a Class A). I have never sold something like this privately before. I was trying to trade it in on the Class A but they really gave me a low ball offer. How do must people except payment for selling large items? I know that certified checks now are easy to fake. Asking someone to give me 10K+ in cash seems unrealistic. I do have a Paypal account but then I lose 3%.

[golf_bears]

schlep1967 has it right. Wire transfers are not reversible unless you agree. Wire transfer from their bank to your bank into a dummy account setup by your bank. They transfer to your dummy account at your bank. Your bank transfers to your real account. This way the buyer has no clue to your real account number. Once your bank tells you your money is safe, sign the title and hand it over to the buyer.

No "fuss no muss" for either of you.

[blofgren]

Yes sadly there are a lot of scams now with bank drafts, cashier checks, etc so cash is the safest bet and I agree with meeting at the bank for safety purposes.

[schlep1967]

Make arrangements with your bank and their bank. Once they check out the unit and the title (if you hold it), you go to your bank. They call their bank and transfer the money to your bank. If your bank holds the title they will first pay off the loan and then deposit whatever is remaining into your account. And they will likely be able to do the paper work to transfer the title to the buyer.

This way nobody is carrying around a lot of cash.

[1968mooney]

If purchaser is from out of town, I like a wire transfer to my bank from theirs. Worked for me on $500,000.

[azrving]

Cash. Then go to the bank and deposit it. Mention to the buyer in some way that you will be going to the bank or have them meet you at the bank. I mention this because a family of 4 in my neighborhood was bludgeoned to death because a crackhead friend of their grandson knew they had cash in the house. The point is that you have to be careful, it's not 1950.

On the other hand I bought FW and the older couple wanted cash. I told them that my credit union isn't local so it would take a week or so to get cash. I said do you really want that much cash from a stranger? If you were my parents I wouldn't want you to take cash. I told them to take my personal check, deposit it, give me a receipt that I paid with a check and I will pick up rig when your bank says the check cleared and funds are good. I also looked at the title to be sure it was clear.

[JoeH]

When I sold our previous Class A, the buyer came with a bag full of $20 bills -- a thousand of them. I told them to follow me to the bank, where the bank counted and verified them ( never know about counterfeit) and put the proceeds in my account. At that time, I signed over the title.
Did the same a couple weeks ago with my pickup truck.

[fj12ryder]

"The federal Office of the Comptroller of the Currency, or OCC, has warned that crooks increasingly are turning to cashier's checks as a way to bilk people out of money and goods."

A Cashier's check can indeed bounce if it's a bad cashier's check.

[fulltimedaniel]

Ten Thousand Dollars is really not that much cash. Take cash for sure and make sure that your receipt is clear in this:

This unit is sold AS IS no warranties are expressed or implied

Be sure the VIN number of the unit is noted.

You do not want a "certified" Check. If you accept a check it should be a "Cashiers Check" This means essentially that a "Cash" transaction took place at the buyers bank to produce that check. IE. it cannot bounce.

[Captain_Happy]

Go to the buyers bank to get paid and then go to your local DWV and the get the title transferred into there name. Now if it's an out of town buyer have them bring a certifed bank draft from there bank and take it to your bank and cash it. Now if you do all this you'll know your going to get screwed.

[MandKJohns]

I have bought and sold multiple vehicles and recreational items over the years anywhere from $1,000 to $23,000 As with everyone else cash is always best. But if need be I will go to their bank with them and have the bank hand me the cashiers check and then hand them the title while still in the bank. But if you can't do that then cash is the only form.

[DrewE]

Cash is relatively safe, as safe as anything at least.

If the buyer is local or if their bank/credit union has a local branch, you can fairly safely use a bank check verified at a branch of their bank. For that matter, a personal check cashed at their bank (presumably while they're around) is also safe.

While there certainly are scammers out there, most people are mostly honest.

[RoyB]

I like going to the bank idea... If the bank is happy then I am happy haha...

[downtheroad]

I have sold a number of cars and travel trailers over the years. Everything from $2500 to $20,000...always exchanged the title for cash.

[ford_truck_guy]

I accept cash

[Toddupton]

Cash! You can follow then to their bank if need be.