Safest Payment Method?

[caver]

I think I told this story before but a few years ago I paid cash for a fill-up. I go back in to get the change from my fresh $100 bill I had just retrieved from the bank. Before I head out she says it didn't pass the pen test. Try another one same thing, failed. I said try it on a $20 from your drawer. yep it failed. She tossed the pen and got another one. From then on I never trust those pens.

 

[Southernspeed]

hmm... just an observation but in 4 pages no one has mentioned crypto (of any flavor)??

I would think 15 -16 ounces of gold would get you in the ball park also.

g

I'm old school, crypto to me is pretend currency promoted by 'influencers' .... I'm probably totally wrong but that's how I feel about it..... old

 

[homedad]

hmm... just an observation but in 4 pages no one has mentioned crypto (of any flavor)??

I would think 15 -16 ounces of gold would get you in the ball park also.

g

I don’t understand how cryptocurrency is valuable at all so I never invested in it. I also don’t believe that I could tell if a hunk of gold colored metal is real gold and what value. And I was a stock trader for years.

 

[404nouser]

I'd go wire transfer.
Also many banks offer public notary for customers. Using this may reduce red flags on the transfer.

 

[Southernspeed]

Thanks for all the input. Shook hands on a deal today and he's arranging a wire transfer on Monday then collecting the truck later in the week. About as safe as it gets I guess.

 

[WaffleDespair]

When I sold my semi truck, the buyer had his account with the same bank as me.
We both went there and the direct deposit was done within minutes.

Then I sold my tractor to a remote customer. His bank needed a bill of sales and my bank information.
Condition of the contract was "tractor will be ready for pickup up when funds cleared the bank account."
Worked flawless.

I've sold some other stuff using e-transfer. Always made sure the transaction was good before the item left the yard.

There once was a story from a Massey dealer. A guy bought a new tractor.
He showed up with a faked bank cheque.
Tractor gone, no license plates on the vehicle to track.

i’ve sold semi trucks and tractors where the buyer’s funds cleared my account before i released the vehicle, either with direct deposit at the same bank or through an e-transfer with proper verification. the contract usually states that pickup occurs only after the funds are verified. this prevents fraud, unlike the story of the Massey dealer who had a buyer show up with a fake bank cheque tractor gone, no plates, and the dealer had no recourse. verifying funds first is essential when selling high-value equipment

 

[dnw64]

For large transactions we have a separate account where we maintain $100 balance. The funds are wired or ACH transferred and we then immediately transfer the funds to our checking account.

 

[PreacherM]

Having just purchased a used vehicle located 600 miles away, this is a relevant topic. I wired the money to the dealer the day before pickup. Worked flawlessly. I store my savings at Fidelity and they do not charge for wire transfer.

 

[big bubba]

I sell a lot through eBay and FB Marketplace. I usually use PayPal, Apple Cash or Venmo if the $$ amount is within limits. On some occasions, I'll take a certified check. So far, I've had no issues.

sounds safe, but PayPal sure likes the commission. i'd stay clear