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01-15-2010, 04:07 PM
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#1
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Rivet Master
2007 23' International CCD
Lapeer
, Michigan
Join Date: Oct 2003
Posts: 7,080
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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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01-15-2010, 04:08 PM
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#2
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Rivet Master
1960 28' Ambassador
Vintage Kin Owner
1998 25' Safari
Avonton
, Ontario
Join Date: Sep 2005
Posts: 1,331
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Cash
__________________
Doug & Terry
VAC - TAC ON-1
60 Ambassador Int.
1950 Spartan
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01-15-2010, 04:14 PM
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#3
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Rivet Idiot
1999 34' Excella
Currently Looking...
Currently Looking...
On The Lake
, Georgia
Join Date: Apr 2009
Posts: 1,000
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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.
__________________
Annette
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01-15-2010, 04:21 PM
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#4
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Remember, Safety Third
1973 27' Overlander
Catfish Corners
, Georgia
Join Date: Oct 2004
Posts: 5,720
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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!
Jim
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01-15-2010, 04:35 PM
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#5
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Rivet Master
2006 25' Safari FB SE
St. Cloud
, Minnesota
Join Date: Aug 2003
Posts: 13,280
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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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01-15-2010, 05:20 PM
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#6
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"Cloudsplitter"
2003 25' Classic
Houstatlantavegas
, Malebolgia
Join Date: Jun 2007
Posts: 20,000
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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.
__________________
I’m done with ‘adulting’…Let’s go find Bigfoot.
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01-15-2010, 05:21 PM
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#7
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Rivet Master
Airstream Dealer
Corona
, California
Join Date: Feb 2002
Posts: 16,497
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Quote:
Originally Posted by wheel interested
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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Bank to bank transfer, during regular banking hours.
Cashiers checks can easily be voided, by telephone.
Andy
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01-15-2010, 06:08 PM
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#8
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Rivet Master
2019 30' Classic
Byhalia
, Mississippi
Join Date: Apr 2006
Posts: 821
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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.
__________________
Greg
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01-15-2010, 06:13 PM
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#9
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Rivet Master
2012 25' FB Eddie Bauer
Vintage Kin Owner
Virginia Beach
, Virginia
Join Date: Sep 2004
Posts: 7,801
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Quote:
Originally Posted by Roadtoaster
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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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
__________________
Today is a gift, that's why they call it the present.
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01-15-2010, 06:26 PM
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#10
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"Cloudsplitter"
2003 25' Classic
Houstatlantavegas
, Malebolgia
Join Date: Jun 2007
Posts: 20,000
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Quote:
Originally Posted by Inland RV Center, In
Cashiers checks can easily be voided, by telephone.Andy
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Boy.... wish I had known that! I could'a got a real nice boat for nutt'n.
__________________
I’m done with ‘adulting’…Let’s go find Bigfoot.
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01-15-2010, 07:04 PM
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#11
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Rivet Master
2006 25' Safari FB SE
St. Cloud
, Minnesota
Join Date: Aug 2003
Posts: 13,280
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Quote:
Originally Posted by Inland RV Center, In
Cashiers checks can easily be voided, by telephone.
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Duh?! Cashier check fraud is the basic currency of scammers. Nobody should be falling for that these days.
Ahh-one.
Anna-two.
Anna-three!
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01-15-2010, 09:48 PM
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#12
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"Cloudsplitter"
2003 25' Classic
Houstatlantavegas
, Malebolgia
Join Date: Jun 2007
Posts: 20,000
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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.
__________________
I’m done with ‘adulting’…Let’s go find Bigfoot.
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01-16-2010, 05:26 AM
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#13
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Restorations done right
Commercial Member
1962 26' Overlander
1961 26' Overlander
Vintage Kin Owner
Currently Looking...
Baltimore
, Maryland
Join Date: Aug 2007
Posts: 5,545
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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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01-16-2010, 06:33 AM
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#14
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Rivet Master
2007 23' International CCD
Lapeer
, Michigan
Join Date: Oct 2003
Posts: 7,080
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Quote:
Originally Posted by 62overlander
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
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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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01-16-2010, 07:55 AM
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#15
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Rivet Master
2019 30' Classic
Byhalia
, Mississippi
Join Date: Apr 2006
Posts: 821
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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.
__________________
Greg
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01-16-2010, 07:56 AM
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#16
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Rivet Master
2006 25' Safari FB SE
St. Cloud
, Minnesota
Join Date: Aug 2003
Posts: 13,280
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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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01-16-2010, 08:22 AM
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#17
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"Cloudsplitter"
2003 25' Classic
Houstatlantavegas
, Malebolgia
Join Date: Jun 2007
Posts: 20,000
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Quote:
Originally Posted by ROBERT CROSS
Was able to get all necessary paperwork notorized right at the bank.
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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.
__________________
I’m done with ‘adulting’…Let’s go find Bigfoot.
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01-16-2010, 08:31 AM
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#18
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Rivet Master
1971 25' Tradewind
1993 34' Excella
Currently Looking...
Estancia
, New Mexico
Join Date: Feb 2005
Posts: 7,742
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Kruggerands
__________________
Sail on silver girl. Sail on by. Your time has come to shine.
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01-16-2010, 08:35 AM
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#19
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Retired.
Currently Looking...
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, At Large
Join Date: Jun 2003
Posts: 21,276
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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...
__________________
Meddle not in the affairs of dragons, for you are crunchy, and taste good with ketchup.
Terry
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01-16-2010, 08:47 AM
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#20
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Rivet Master
2007 23' International CCD
Lapeer
, Michigan
Join Date: Oct 2003
Posts: 7,080
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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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