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Old 08-19-2014, 06:45 PM   #1
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Selling my 2014 Interstate Sprinter- How to Fund Sale

Hey Mates,

I am selling my 2014 Airstream Interstate EXT. I have it listed on RV Trader but I am not sure about the safest way to accept payment. I am a judge and former police officer and I lean toward going to purchaser's bank with them when they get cashier's check. I have heard about forged cashier's checks and I really don't want to see someone drive off in my coach only to find out later that the check was forged. Suggestions?

Thanks, Kevin
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Old 08-19-2014, 06:47 PM   #2
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Wires are the best way in my opinion. I am a former banker (27 years)!!!~
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Old 08-19-2014, 07:05 PM   #3
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Yep, let it clear your bank, then they can drive off.

Is it listed for sale on this site? How many miles? Whatcha asking?
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Old 08-19-2014, 07:22 PM   #4
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I've noticed that checks clear as fast as debit cards these days. Maybe your bank can scan it for you before you sign over the title.

Ebay recommends an escrow service........

Important: Only use Escrow.com. Using Escrow.com can help keep buyers and sellers safe from fraud. When you use Escrow.com, they collect the money from the buyer and hold it until the buyer and seller agree that the terms of the sale have been met. Once both parties are satisfied, Escrow.com sends the payment to the seller. Escrow.com is licensed and regulated company, and the only escrow service that can be used for eBay transactions.
Escrow is available for any purchase, but typically is used for eBay Motors vehicle purchases of $500.00 or more.
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Old 08-19-2014, 07:28 PM   #5
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I would go to your local bank with the purchaser. When your bank says check or wire transfer is good then and only then sign the title.
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Old 08-19-2014, 07:29 PM   #6
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Wire transfer from his bank to your bank.
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Old 08-19-2014, 07:41 PM   #7
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Originally Posted by TexasJudge View Post
I am selling my 2014 Airstream Interstate EXT. I have it listed on RV Trader but I am not sure about the safest way to accept payment. I am a judge and former police officer and I lean toward going to purchaser's bank with them when they get cashier's check.
Western Union is still one of the safest ways to send money.
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Old 08-19-2014, 07:49 PM   #8
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2014 Interstate Sprinter Extended Lounge- like new- only 15,000 miles. Price is $119,000

Kevin
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Old 08-19-2014, 08:33 PM   #9
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I did get lucky once when selling a classic car. The Buyer had the same bank as myself and was local. He filled out a withdrawl slip and I filled out a deposit slip. Went fro his account into mine.

Good Luck With Your Sale!
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Old 08-20-2014, 07:14 AM   #10
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When I am on the buyers side of a deal like this I find it handy that I have an account at a nationwide bank with branches almost everywhere. I can walk into a bank with the seller where ever he may be, write a personal check and have the teller hand the seller a cashiers check. That seems to make everyone comfortable.

You are right to be concerned about cashiers check though, my understanding is that they can be canceled just like a personal check. One way to feel a little more comfortable with a cashiers check is to call a branch of the bank (find a branch phone number yourself, don't trust the one printed on the check) and ask if the check is good. The wire option is probably a good one, though as a buyer I would be hesitant to wire someone money unless I am standing right there with them and the vehicle.
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Old 08-20-2014, 08:03 AM   #11
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Fretz RV in Souderton, PA has a 2014/13, extended body, 3 chairs up front, 7000 miles for $107,499. I am very familiar with the unit as I traded it to them.

Fretz RV | 2014 Airstream Interstate 3500 Extended for sale | Souderton, PA
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Old 08-20-2014, 11:52 AM   #12
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Fretz RV in Souderton, PA has a 2014/13, extended body, 3 chairs up front, 7000 miles for $107,499. I am very familiar with the unit as I traded it to them.

Fretz RV | 2014 Airstream Interstate 3500 Extended for sale | Souderton, PA
Wow, wonder how this is going to help.
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Old 08-21-2014, 07:00 AM   #13
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Wow, wonder how this is going to help.
Perhaps it will help others in pricing their units? Depreciation is a real concern when buying New and selling in the first year... I do believe Interstates are a bit more susceptible to this. Of course asking price and selling price are two different things and some folks just like to list with a bit more wiggle room to give the buyer the appearance of getting a great deal.
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Old 08-21-2014, 07:44 AM   #14
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Depreciation is a real concern when buying New and selling in the first year...
Strictly speaking, the loss in value isn't JUST due to depreciation. When you bought your Interstate, or any other motor vehicle, part of the price you paid was dealer overhead and profit. The rest of what you paid was the actual value of the vehicle.

When you turn around and sell it, you can't really expect the next buyer to reimburse you for the dealer overhead and profit you paid when you bought it. That is the main reason for the axiom that a vehicle is worth 10% less than you paid for it as soon as you drive it off the lot. When the vehicle is brand new i's not what you paid for it; it's worth dealer cost minus destination charge. Anything you paid over that is a sunk cost.

So, when figuring where to set the asking price for an RV of any kind, I'd start with it's brand-new value as being 30% below MSRP, which gets us pretty close to the dealer's cost. In my case, I paid about 20% off MSRP, so I'd cut it back an additional 10% to account for dealer profit and overhead. Then I'd start computing depreciation from there.

If it was me, I'd base depreciation at about 10% per year. I'd say in the first year it would be worth 90% of the "estimated dealer cost" value, in the second year 90% of that (or 81%) in the third year 90% of that (or 73%) and so on. Under that depreciation scheme, in year 10 it would be rated at 34% of its original value, and in year 20 it would be worth 12% of its original value.

Of course, you don't have to use this methodology. But if I was planning to sell mine, that's the methodology I'd use to figure my take-it-or-leave-it price. Then I'd bump up the asking price from that value to allow for negotiating wiggle roomó and to allow me to make a modest profit off the sale as well if the buyer negotiates poorly.
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