How to manage payment for large ticket items for sale

Closed Thread
Thread Tools
  #1  
Old 05-02-2021, 03:01 PM
jojo's Avatar
jojo jojo is offline
Platinum member
Join Date: Nov 2007
Location: Amelia
Posts: 1,859
Thanks: 124
Thanked 145 Times in 86 Posts
Default How to manage payment for large ticket items for sale

We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.
__________________
Columbus OH, The Villages - Amelia
  #2  
Old 05-02-2021, 03:05 PM
retiredguy123 retiredguy123 is online now
Sage
Join Date: Feb 2016
Posts: 14,229
Thanks: 2,336
Thanked 13,678 Times in 5,230 Posts
Default

Obviously, cash is always good.

But, another option is to meet at the buyer's bank and get a cashier's check with your name on it as the payee.
  #3  
Old 05-02-2021, 03:08 PM
jojo's Avatar
jojo jojo is offline
Platinum member
Join Date: Nov 2007
Location: Amelia
Posts: 1,859
Thanks: 124
Thanked 145 Times in 86 Posts
Default

Quote:
Originally Posted by retiredguy123 View Post
Obviously, cash is always good.

But, another option is to meet at the buyer's bank and get a cashier's check with your name on it as the payee.
Thank you. I thought of a cashiers check but I like the idea of meeting at our bank.
__________________
Columbus OH, The Villages - Amelia
  #4  
Old 05-02-2021, 03:21 PM
JMintzer's Avatar
JMintzer JMintzer is offline
Sage
Join Date: Feb 2021
Location: No matter where you go, there you are.
Posts: 10,592
Thanks: 480
Thanked 8,272 Times in 4,294 Posts
Default

Whatcha' selling? I'm looking for a nice clean late model cart...
__________________
Most things I worry about
Never happen anyway...

-Tom Petty
  #5  
Old 05-02-2021, 04:08 PM
rjm1cc's Avatar
rjm1cc rjm1cc is offline
Soaring Eagle member
Join Date: Apr 2010
Posts: 2,369
Thanks: 238
Thanked 526 Times in 245 Posts
Default

A money order or a casher check (The buyer would pay his bank and they would give him one of their checks made out to you.)
As mentioned best to do the transaction at the bank so you can cash the check. But then you might not want to leave the bank with the cash so the casher check might be best.
  #6  
Old 05-02-2021, 04:32 PM
thelegges's Avatar
thelegges thelegges is offline
Soaring Eagle member
Join Date: May 2010
Location: Drayton Plains, MI, Vietnam, Waterford, MI, Pennacamp, Fernandina, Duval, 1 retired in Richmond
Posts: 2,210
Thanks: 12
Thanked 1,588 Times in 567 Posts
Default

We met at their bank, and a cashier check was given to us, from chase bank. We deposited in citizens first, next door. We also had a bill of sale that we included with our taxes, copy of check, since it was such a large transaction
  #7  
Old 05-02-2021, 04:33 PM
vintageogauge vintageogauge is offline
Sage
Join Date: Aug 2016
Location: village of Fenney, Ford City, Pa., and Hudson, Ohio
Posts: 4,159
Thanks: 6
Thanked 4,334 Times in 1,445 Posts
Default

I once sold a car to an individual that wanted to pay with a personal check. I called my insurance agent, at the time it was Erie Insurance, he advised that if the check was no good it would be considered theft and Erie would cover it. Not too many people are going to take a chance bouncing a check on a big ticket item as it's a felony and carries stiff penalties.
  #8  
Old 05-02-2021, 08:10 PM
tophcfa's Avatar
tophcfa tophcfa is offline
Sage
Join Date: Feb 2015
Location: Wherever I happen to be.
Posts: 6,077
Thanks: 2,866
Thanked 9,048 Times in 2,738 Posts
Default

Cash or bank check. Anything else is unacceptable. There is no title, once the buyer drives away in the cart you are out of luck if another form of payment turns out to be no good. The only way i would accept a personal check would be if the cart stays in my garage, with the keys in my possession, until the check clears.
  #9  
Old 05-02-2021, 09:59 PM
OrangeBlossomBaby OrangeBlossomBaby is online now
Sage
Join Date: Feb 2015
Posts: 8,524
Thanks: 6,866
Thanked 9,496 Times in 3,100 Posts
Default

We paid by personal check for our golf cart. But we bought it from the guy across the street from us. I'm sure he knew that we weren't going to rip him off, especially since he knows where we live
  #10  
Old 05-03-2021, 02:04 AM
Two Bills Two Bills is offline
Sage
Join Date: Aug 2016
Posts: 5,688
Thanks: 1,685
Thanked 7,370 Times in 2,517 Posts
Default

Gift vouchers are very popular at the moment with certain transactions!
  #11  
Old 05-03-2021, 04:48 AM
RICH1 RICH1 is offline
Gold member
Join Date: Sep 2011
Location: South
Posts: 1,290
Thanks: 3,269
Thanked 1,302 Times in 560 Posts
Default

Never use PAYPAL.....PayPal will also tell you Never use PayPal and explain to you how the scam works!
  #12  
Old 05-03-2021, 04:58 AM
JoelJohnson JoelJohnson is offline
Veteran member
Join Date: Jun 2012
Location: Lady Lake, FL
Posts: 881
Thanks: 675
Thanked 442 Times in 205 Posts
Default

If you decide to go the cash route, you can use the Sheriff's parking lot, they have cameras and I don't think anyone would try to rob you there.
  #13  
Old 05-03-2021, 04:59 AM
scottiesrgreat@gmail.com scottiesrgreat@gmail.com is offline
Senior Member
Join Date: Nov 2020
Posts: 126
Thanks: 378
Thanked 282 Times in 72 Posts
Default

First - write up a simple BILL OF SALE and make sure to get signatures before the completion of the transaction!

Years ago - when my father passed - I sold his truck. I had the ‘Bill of Sale’ - signed by both parties - and we all met at the buyer’s bank - for transfer of funds.
  #14  
Old 05-03-2021, 05:40 AM
noslices1 noslices1 is offline
Veteran member
Join Date: Jul 2012
Posts: 568
Thanks: 55
Thanked 520 Times in 240 Posts
Default Cash

Quote:
Originally Posted by jojo View Post
We are going to list our golf cart for sale and I'm wondering what is the safest way to manage the payment for the sale.
Cash is the safest, but if you are selling it to someone who lives in The Villages, a personal check should be ok. Be sure and make a Bill of Sale with their name, address and phone number.
  #15  
Old 05-03-2021, 05:48 AM
jojo's Avatar
jojo jojo is offline
Platinum member
Join Date: Nov 2007
Location: Amelia
Posts: 1,859
Thanks: 124
Thanked 145 Times in 86 Posts
Default

Quote:
Originally Posted by JMintzer View Post
Whatcha' selling? I'm looking for a nice clean late model cart...
Sent you a PM.
__________________
Columbus OH, The Villages - Amelia
Closed Thread

Tags
sale, manage, payment, cart, safest

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 11:15 AM.