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Old 01-15-2010, 04:07 PM   #1
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What is the Best money transfer for Airstream purchase

I have a buyer for my Airstream. The buyer is from out of state and will be here one day, inspect and pay and go. What's the best way to get payment?
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Old 01-15-2010, 04:08 PM   #2
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Old 01-15-2010, 04:14 PM   #3
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Cash......Verify by a marking pen preferably at your bank.
Or, have their banker contact your banker, make the transfer to your account and then give them the title.
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Old 01-15-2010, 04:21 PM   #4
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I suspect an '07 will bring a good price. I wouldn't want that much cash in hand. And the owner will have a nightmare getting it out of his bank without lots of prior notice to the bank.

I'd go with a direct bank-to-bank transfer for that much money--while I'm standing in the bank.

Good luck with the new one!

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Old 01-15-2010, 04:35 PM   #5
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Carol -- Luv yer signature.

A buyer should be able to talk to their bank to determine the most direct transfer of funds. I believe you should talk to your bank to determine the best steps in this regard. Prearranged in this way, you should be able to see an assured near-instant settlement. Do not do it on weekends without direct, timely contact with the arrangements on either end.
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Old 01-15-2010, 05:20 PM   #6
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Purchased a boat out of state recently. PO was willing to accept a bank check. Transaction was done on a weekday, during bank hours. Was able to get all necessary paperwork notorized right at the bank.

If for some reason I didn't complete the transaction the check could re-deposited in our account. Worked very well in our case.
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Old 01-15-2010, 05:21 PM   #7
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I have a buyer for my Airstream. The buyer is from out of state and will be here one day, inspect and pay and go. What's the best way to get payment?
Bank to bank transfer, during regular banking hours.

Cashiers checks can easily be voided, by telephone.

Andy
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Old 01-15-2010, 06:08 PM   #8
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Definitely a wire Carol and do not give the buyer your account number. Ask your bank for help but the wire should arrive in your bank and with further instructions to pay upon proper ID.
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Old 01-15-2010, 06:13 PM   #9
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Definitely a wire Carol and do not give the buyer your account number. Ask your bank for help but the wire should arrive in your bank and with further instructions to pay upon proper ID.

Roadtoaster is right about not giving out your account number. You could also open a second (savings) account with a dollar - and use THAT one to receive the funds.

Paula
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Old 01-15-2010, 06:26 PM   #10
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Cashiers checks can easily be voided, by telephone.Andy
Boy.... wish I had known that! I could'a got a real nice boat for nutt'n.
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Old 01-15-2010, 07:04 PM   #11
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Cashiers checks can easily be voided, by telephone.
Duh?! Cashier check fraud is the basic currency of scammers. Nobody should be falling for that these days.
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Old 01-15-2010, 09:48 PM   #12
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My post had nutt'n to do with the interweb, always buy face to face.
Both the Burb and the boat were listed on ebay but nothing was transfered wirelessly, better safe than sorry. It's a common sense thing.
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Old 01-16-2010, 05:26 AM   #13
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CASH IS KING. I would go for cash. Cash spends better than any form of currency and leaves very little evidence of a transaction if that is the desired effect

I have done business with many over seas customers. Every time it was done via wire transfer. Without giving the routing number, the account number, the address of your branch, and sometimes a code for the lending institution you cannot transfer the money. All of that information is actually printed right on your checks if you know how to look.
Not sure how it happens domestically, but I would find it rather impossible to transfer anything without an account number and a routing number. I asked my bank if the wire transfer was safe and they told me 100%. Once the process is started, it cannot be reversed.
What a shame we have to be so over cautious these days. I sure miss the days of ones word being their bond and a hand shake was a contract...
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Old 01-16-2010, 06:33 AM   #14
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CASH IS KING. I would go for cash. Cash spends better than any form of currency and leaves very little evidence of a transaction if that is the desired effect
Your comment brings another point to mind. Am I getting socked for income tax because of the sale and how much would that be? I am taking the majority of the money and putting it towards purchasing a different Airstream also from a private party. Anyone know how much that would be?

Everyone thank you for your comments. It is so reassuring to have the advice and experience of others so helpfully given!!!!
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Old 01-16-2010, 07:55 AM   #15
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Carol. I'm not a tax pro but there should be no income tax ramifications unless you sold the AS for more than what you paid for it. If you did, I expect there are many many members here that would like to hire you to sell theirs.
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Old 01-16-2010, 07:56 AM   #16
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Carol, to pay income tax you'd have to be making money on the transaction. The buyer will be paying sales tax. This usually is collected when they apply for title & tags in their own state -- he'll need a bill of sale for this. For instance, I bought my Safari at a dealer in Iowa and they didn't collect tax on the transaction because I was shipping it directly out of state.
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Old 01-16-2010, 08:22 AM   #17
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Was able to get all necessary paperwork notorized right at the bank.
That was the reason for completing the transaction at the sellers bank, paymemt deposited directly into their account. All arrangements made before the trip to Arkansas. Two copies of everything, signed & notarized.
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Old 01-16-2010, 08:31 AM   #18
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Old 01-16-2010, 08:35 AM   #19
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It's kind of fuzzy this morning, but didn't the Feds enact some kind of law that made it a criminal offense to carry around huge amounts of cash? Something about drug money, and racketeering.

Heading back to the kitchen for more coffee...
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Old 01-16-2010, 08:47 AM   #20
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You guys are funny. OK OK Gold, yup. Yeah I have decided to become a AS flipper and charge three times list and reretire.I am very good.

Thanks. Glad to hear I don't have to stash it in the mattress or worse yet a body wallet.
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