Selling a tractor rather than trading it in

[trackid]

I sold a car for cash. Meet buyer at my bank. Buyer paid me, bank counted the money, then it was deposited. Signed title at bank. I know tractors don't have a title, but you could take payment at bank and have some kind of documents created for buyer.

 

[dfkrug]

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.

I buy and sell a lot of big-ticket items and I DO accept cashier's checks, but not on Sundays. They always have the
bank/S&L/CU tel # on the check and most institutions have Sat hours these days.

People are funny about cash: some are scared about carrying a large amount with them, but I don't know of
anyone ever getting robbed at gunpoint. Now, the potential for getting robbed at an ATM....that's much higher.
Go figure.

Most folks (me included) will not hand over any kind of funds to a seller unless they can walk away immediately
with the item being bought. That means no waiting for a check to clear or wiring funds.

 

[ultrarunner]

Sold one tractor on Craigslist...

Buyer came down and left a personal check for a deposit from the same bank I use...

A week later he had a trucking company come down and paid the balance with a cashiers check from the same bank I use...

Cash works too...

When I bought one tractor the seller took my personal check for a deposit with the balance due in cash upon delivery...

I was going to pick up the tractor myself and road it home the last 1.5 miles because the road is very steep... think San Francisco steep.

Seller said he would deliver and that was most welcome...

 

[Bocephous]

I've sold a couple of motorcycles and recently an ATV; cash was always the only accepted form of payment. And, having seen the not-so-honorable sort that are out there, I make sure that defense options are readily available in case the potential buyer has those less than honorable intentions.

 

[the old grind]

Postal money order is prepaid. Names, addresses, notes are filled out when you buy it and 'carboned' onto your receipt. Used all the time for firearm sales over the net. Good enuf for buyer & seller, .. most anyone will accept one as paym't, .. and banks will cash them with proper ID. Fee is tiny, considering all that ....

 

[aczlan]

Sold one tractor on Craigslist...
Buyer came down and left a personal check for a deposit from the same bank I use...
A week later he had a trucking company come down and paid the balance with a cashiers check from the same bank I use...

Did that with a haywagon. He wanted a deposit, so we left a check for the purchase price, the swapped it for cash when we came to pick it up.

Aaron Z

 

[rmorey]

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've always traded, just curious, why would you want to go thru all the hassle and risk for a few bucks?

 

[tractchores]

I've sold a lot of expensive items (usually cars). By far the easiest way is a wire transfer, which is instantanious and secure. You can do it via the phone with your bank and have them verify it hit.

 

[scoutcub]

I've sold dozens of tractors up to 25K and 99% of the transactions have been in cash. If someone is uncomfortable with cash, I offer to accept a personal check and they can pick it up when the check clears. Or, as a last resort, certified check that can be called into a bank to verify funds. (so not on sunday) And with that I check the drivers license, copy the license, write down the plate number, etc. etc. I've read about the fake certified checks as well.
And even with the cash.....as you're counting it, double check the bills.....one can never be too safe these days.

 

[dfkrug]

And even with the cash.....as you're counting it, double check the bills.....one can never be too
safe these days.

Too safe? Many folks have been terrorized into not selling anything at all. That's "too safe".

As you say, even cash has its risks, tho I have never seen a counterfeit bill in all my transactions.

I took a deposit the other day to hold a $3000 ATV I had listed. We used PayPal, and he
paid my 3.2% fee on the $100 deposit. It is instantaneous and can be done long distance.
I got the balance in cash when the buyer picked it up.