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  1. #1
    Silver Member vrman's Avatar
    Join Date
    Jul 2006
    Posts
    129
    Location
    Joliet, IL
    Tractor
    Kubota BX23 & ZD326P

    Default Selling a tractor rather than trading it in

    Anyone have any experience selling their tractor to someone. My question is basically, what did you accept as payment?
    I'm assuming most people won't be walking in with $12k in cash. I've done stuff through the local paper, craigslist, etc, but nothing for more than a few hundred dollars. Just wondering what is the safest way of transacting a sale like that.

    Thanks!!
    BX23 - FEL, BH w/Bro-tek Thumb, Ripper & Trencher, 60" MMM w/Gator Blades (20-9/16 91-438 (90-987)), 48" Kubota Tiller, 48" Howse BB, Bro-tek Skid Plates, Pat's Easy Change System
    ZD326P - w/Gator Blades (20-9/16 91-438 (90-987) no bushing needed)

  2. #2
    Super Member
    Join Date
    Mar 2008
    Posts
    9,465
    Location
    Northern Fingerlakes region of NY, USA
    Tractor
    Kubota L3830GST, B7500HST, BX2660

    Default Re: Selling a tractor rather than trading it in

    Cash, Cash and/or Cash. Perhaps a cashiers check if you are feeling lucky but even those can have problems...

    Aaron Z
    A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.
    Robert Heinlein, Time Enough for Love

  3. #3
    Super Member crazyal's Avatar
    Join Date
    Dec 2003
    Posts
    5,782
    Location
    Northern Vermont

    Default Re: Selling a tractor rather than trading it in

    I'll often take a bank check from a local bank.
    Kubota L4240,Case 580K backhoe, Case 450 Dozer

  4. #4
    Elite Member ovrszd's Avatar
    Join Date
    May 2006
    Posts
    4,204
    Location
    Missouri
    Tractor
    Kubota M9540, JD2210

    Default Re: Selling a tractor rather than trading it in

    I'm with Al, I too will take a local check. but I understand your concern. I'd go for a Cashier's Check. I'd also ask for the phone number to the issuing bank and call them before accepting payment. If the buyer won't give you his bank phone number he needs to move on down the road.
    Richard
    Kubota M9540, JD2210

  5. #5
    Gold Member
    Join Date
    May 2011
    Posts
    329
    Location
    NKY
    Tractor
    Yanmar YM186d,John Deere 1050, Case 211B

    Default Re: Selling a tractor rather than trading it in

    If you take cash,make sure it is real money. A check is fine,but hold the tractor untill your bank says it cleared.
    JD1050,YM186D,Case211B,Homemade- sawmill & log splitter & log hauling arch trailer
    JD14T,Ford 532 balers,
    AC 80-R3,Ford 501 sickle mowers
    2.1 KW Off-grid Solar System and growing

  6. #6
    Super Member flusher's Avatar
    Join Date
    Jun 2005
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    6,207
    Location
    Northern California-Tehama Co.
    Tractor
    2008 Mahindra 5525, 1964 MF-135 diesel, 1951 Farmall Super A, 1951 Minneapolis Moline BF, 1945 Oliver 60 Row Crop, 1949 JD B widefront

    Default Re: Selling a tractor rather than trading it in

    Quote Originally Posted by vrman View Post
    Anyone have any experience selling their tractor to someone. My question is basically, what did you accept as payment?
    I'm assuming most people won't be walking in with $12k in cash. I've done stuff through the local paper, craigslist, etc, but nothing for more than a few hundred dollars. Just wondering what is the safest way of transacting a sale like that.

    Thanks!!
    I bought a 2004 Isuzu NPR stake bed truck off eBay several years ago for $11K. Made a 10% down payment via PayPal when I accepted the deal and paid the rest to the seller in person with a cashiers check (the seller was located in the Sacramento area about 140 miles from my place). I use it to haul around my old parade tractors. I pay cash for those tractors (generally cost less than $3K).

  7. #7
    Super Member
    Join Date
    Mar 2008
    Posts
    9,465
    Location
    Northern Fingerlakes region of NY, USA
    Tractor
    Kubota L3830GST, B7500HST, BX2660

    Default Re: Selling a tractor rather than trading it in

    Quote Originally Posted by ovrszd View Post
    I'm with Al, I too will take a local check. but I understand your concern. I'd go for a Cashier's Check. I'd also ask for the phone number to the issuing bank and call them before accepting payment. If the buyer won't give you his bank phone number he needs to move on down the road.
    Thats fine as long as the buyer doesn't mind waiting a week until the cashiers check clears...
    Answers about Funds Availability :
    The bank placed a hold on a cashier's check that later turned out to be fraudulent. Aren't cashier's checks supposed to be honored immediately?
    Generally, cashier's checks must be made available by the next business day. However, because of the number of fraudulent and counterfeit checks now being passed, banks are beginning to place an extended hold on cashier's checks.
    A bank can only place a hold on the amount of the check deposited in excess of $5,000. And the first $5,000 must be made available in accordance with the bank's normal availability schedule.
    However, always remember that funds may become available to you before the bank has been able to verify the check. You may end up withdrawing the funds before the bank knows that the cashier's check is fraudulent.
    If the cashier's check is fraudulent, the bank may charge the cashier's check back against your account or obtain a refund from you. In addition, you may want to review the Account Agreement you received when you opened the account, as it explains the availability process.
    Aaron Z
    A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.
    Robert Heinlein, Time Enough for Love

  8. #8
    Veteran Member
    Join Date
    Jul 2010
    Posts
    1,256

    Default Re: Selling a tractor rather than trading it in

    If the buyer's bank is local and open, both go in, the buyer writes a check to himself to cash, get the money from the bank, you get the cash directly. If the bank has a problem with the check, it is on the buyer, not the seller. If the cash that that the seller receives is bad, then the bank should take care of it (replace it with good since they gave it out).

    After saying all that, I have never been able to get that to work out, just paid cash or received cash.
    2007 Kubota L3130, LA723 FEL
    Land Pride FDR1672 rear finish mower, Frontier RB1172, Koyker KB60 BH
    Pallet forks, Golf cart canopy bolted to ROPS, 9" & 12" PHD

  9. #9
    Super Member crazyal's Avatar
    Join Date
    Dec 2003
    Posts
    5,782
    Location
    Northern Vermont

    Default Re: Selling a tractor rather than trading it in

    I guess each area is different but I've never had an issue with a local bank check. Banks around here require the funds to be available before issuing the check. Normally they require you to have an account with their bank. A quick phone call can confirm the check is good. If there's any questions you can drive over to the bank.
    Kubota L4240,Case 580K backhoe, Case 450 Dozer

  10. #10
    Bronze Member
    Join Date
    Jun 2012
    Posts
    78
    Location
    Independence, OR
    Tractor
    2004 JD 2210

    Default Re: Selling a tractor rather than trading it in

    I'd do it the same way I sell a car. Meet them at the bank, witness the bank issuing a certified cashiers check, hand over the keys.

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