[chet8625]

So I'm planning to sell my motorcycle (haven't decided what to get next but need to sell the current bike first). I have one person interested and they want to pay using PayPal.

It's been a long time since I ever sold anything (usually trade my cars in for newer cars) so I'd like some ideas on what to look for in scammers.

The guy interested is already talking about picking the bike up and getting my PayPal details but he hasn't even looked at the bike so I'm assuming he's a scammer.

What ideas can you give me to protect myself in selling my bike?

Thanks in advance.

 

[murphyshuman]

cash or cashiers check. Maybe I'm old fashion, but cash talks B******* walks. If someone wants to test ride it then have the cash or cashiers check in hand before they ride off. If they don't want it then hand it back after you've checked for damage.

 

[vito]

I advise a number of things to do. First, when you arrange for the buyer to meet with you to inspect the bike, designate a neutral and public location, and never at your home or where you garage the bike. Don't end up facilitating a crook "casing" your bike and its location. If he insists on a demo ride, which is not unreasonable, do it in the following way: offer him the option of paying for the bike before the demo ride, and a 20 or 30 minute "warranty" on the sale. Ideally, use a third party to improve trust on both sides. For example, go to your own bank and ask a bank officer to agree to witness the sale (and the bill of sale), to hold the funds paid, and to note the time. The buyer then can ride the bike and if unhappy, return to the bank (where you are waiting) and return the bike to you. After you determine that the condition of the bike is unchanged, the banker returns the funds to the buyer. If he does not return within the stated time, the banker gives you the money and either mails the title to the buyer or holds the title until the buyer returns to the bank.

I strongly suggest not accepting a check or even a money order (money orders can be fake and you will not know this for several days or more after you deposit it at your bank). I would prefer to insist on actual cash. I have no experience selling anything using PayPal, although I have bought numerous things on line using this service.

Good luck.

 

[SgtSlag]

PayPal assumes the buyer is always right... The seller is always at some risk using them, as they can, and will, pull funds from the seller's bank account on the word of the buyer.

Cash is king, but get yourself one of those currency pens, from a local office supply company, to test the bills' legitimacy.

If you buy privately, from an unknown seller, make sure the title is clear, before you part company! If there is anything not quite correct with the title (seller's name is not on it, he got it from a friend, and they saved money by not transferring the title, blah-blah-blah...), walk away.

I met a seller in a parking lot, to purchase a one-motorcycle-carrying-cpacity trailer, and he and his friend avoided paying the State by transferring the title between them; he gave me a bill of sale signed by the legal owner. It was a bit of a nightmare for six months, until I gave him three options to resolve it: mail me the signed form required by the State DMV; we meet and I return the trailer, and he returns my cash; or, finally, I sue him in court for the funds. He finally mailed me the signed form required by the State, and since then, I am the legal owner of my trailer. Be careful out there.

Cheers!

 

[Porky]

A stop payment can be made on a Cashiers check, rendering it useless and your property gone.

Paypal has tons of illegal schemes going on.

Personal checks, money orders--no way JOSE.

Wire transfers can work but the account should be set up ahead of time to receive the money and then the second it is in the account, the funds are transferred to another account.

Cash only.

I'm in the process of selling my Goldwing and I will only accept cash, counted and verified as legal tender by my bank. When that transpires, I sign over the title, and we both sign the bill of sale and my Notary witnesses the sale.

I have already had about 4 scammers try something.

Seller beware!

 

[chet8625]

While I want to protect myself I'm trying to be fair with a buyer who also doesn't want to get ripped off.

 

[wadenelson]

I"ve personally had no, ZERO problems when a BUYER sends ME money via PayPal prior to MY delivering a bike AND a title.

Seems to me they're the one taking all the risk.

Even so, might be prudent to request they only wire a DEPOSIT and request the rest in CASH on the barrelhead.

Meet in a public place so the bad guys' friends can't jump you 3 minutes after you put said CASH in YOUR pocket.

Cashier's checks are WIDELY forged these days on color laser printers.

I'll only take a cashiers check if he hands it to me in the lobby of the bank it was drawn on and I imeediately surrender it to a teller for either cash or a wire to MY account. Expect a wire fee of $20 or thereabouts. You only need your account # and an ABA # for your bank, easily available.

Using a few simple precautions I've never had ANY problems, none.

 

[RonK]

--

I will accept a wire transfer to my checking account prior to delivery of a sale. When the money is transferred, I immediately withdraw it. I don't worry about giving out my account number either, as I have an account already set up at the bank. It's a free account to hold there and I only keep $10. in it so I don't worry about somebody getting into it and stealing much money. That's all I use it for.

Other suggestions so far are good. If you can get a check, or withdraw money at a bank where their check is issued as they give it to you, then you can be sure it's good. Then I use a bank officer to notarize any paperwork while we're there. I do use PayPal often for purchases, but those are for amounts only in the hundreds of dollars. As soon as possible, I also transfer that balance into my direct deposit account.

Unless Moni buys something from you. Then she will pay partially with apple turnovers. They are good, however.

--

 

[soupy1957]

cash or cashiers check. Maybe I'm old fashion, but cash talks B******* walks. If someone wants to test ride it then have the cash or cashiers check in hand before they ride off. If they don't want it then hand it back after you've checked for damage.

Totally agree with this advice!!!!!!!

I remember once, putting an item on Craigslist that we wanted to sell. Because of the nature of the item, we got calls from ALL OVER THE PLACE. Some of whom wanted me to ship it to some weird place in India (of all things!!).

Just deal locally with folks who can bring a security (cash, cashiers check) or at LEAST hold their physical License in your hands when they "test drive" it. Have something of theirs in your possession, so they HAVE to come back (like the keys to the bike or car they came in/on).

"If you break it, you've bought it" should be the last words out of your mouth to them as they rev it up, and drive off.

Phrases like, "Seller Does Not Ship" are valuable too!!

-Soupy

 

[Kiwi Steve]

Only times I've sold or bought a bike it's always been cash. Got $500 off the price of the ST1100 when I bought it for folding stuff. Won't accept anything else, and don't expect a seller to ask for anything else.

And, cash in full before a test ride. That's a good idea to get an independent 3rd party to hold the money, but how to find someone both parties trust.

 

[CTX]

My son had a bad experience with a cashiers check, I'll only except cash. Luckily I sell most of my bikes to people I know. But if I do sell a bike on Craigslist, I put in the ad in capital letters NO JOY RIDES! And then I'll take the bike to work to sell it. That way I don't waste a whole weekend at home waiting for people to show up. Plus I have a large fenced and gated storage yard with guys working nearby, several surveillance cameras, etc. I've had a few shady looking characters take a quick look at the surroundings, turn around and leave. If someone insists on a test ride, they do it in the gated yard after I get the money and a copy of their licence.

 

[wadenelson]

The first bike I ever sold, an old Ninja StreetFighter, well I didn't insist on cash in MY hand before a test drive, and guess what happened to all my plastics....

I wish I had a picture of my face when the kid brought it back in and I realized what he'd done. I guess I should have just been glad he wasn't injured.

Since then I've offered several young wanna-buyers a $200 (rebate) if they'll go take the MSF. Not one has seen the opportunity that offered...MSF for free, essentially.

Nowadays, nobody gets a TD until ALL the cash is in my hand, and they show up with helmet, gloves, leather jacket, boots, AND an endorsement. I only sell to other riders, not wannabes.

Which is ok because I don't own or sell bikes suitable for novices.

 

[Luvs2Play]

I only sell on consignment, the dealer is far better equipped to take care of the sale and test rides. Worth a few bucks to let them take care of it, and I usually get a little more for the bike that way too.

 

[Johnnystriple]

I've only sold one bike to an individual. This kid really didn't even know how to ride very good so I took him out on it. He did have his license. I made him let me talk to his mother to make sure she approved. He loved it and came back with cash. I drove him to the court house and transferred the tittle. Two months later he crashed in a curve but told his mother not to ever tell me about it because he knew how much the bike meant to me. I've bought a vehicle from and individual before. I wouldn't give him the cashiers check until the tittle was transferred at the court house. Some people wont transfer tittle immediately (or ever) and then some day down the road you will have to pay taxes on it because of this. This happened to my son. Make sure the tittle is transferred at the sale.

 

[Skip31]

Wow. That's all great advice that comes from experience. I'm looking to sell a bike too, so in advance thanks for all the advice.

 

[Stablefull]

The first bike I ever sold, an old Ninja StreetFighter, well I didn't insist on cash in MY hand before a test drive, and guess what happened to all my plastics....

I wish I had a picture of my face when the kid brought it back in and I realized what he'd done. I guess I should have just been glad he wasn't injured.

Since then I've offered several young wanna-buyers a $200 (rebate) if they'll go take the MSF. Not one has seen the opportunity that offered...MSF for free, essentially.

Nowadays, nobody gets a TD until ALL the cash is in my hand, and they show up with helmet, gloves, leather jacket, boots, AND an endorsement. I only sell to other riders, not wannabes.
Which is ok because I don't own or sell bikes suitable for novices.

This is pretty much standard in my area now. Both of the bikes l test rode before buying my bike, l handed over an envelope and showed them my endorsement. The first guy l met with had a real pissed off look on his face when l took the envelope back and told him l would think about it. He was already comfy with the feeling of that money in his paws. The next day l test rode my bike and told her she could keep the envelope

 

[DanR]

cash or cashiers check. Maybe I'm old fashion, but cash talks B******* walks. If someone wants to test ride it then have the cash or cashiers check in hand before they ride off. If they don't want it then hand it back after you've checked for damage.

Never accept a cashiers or certified check.. they are faked all the time.

 

[DanR]

By the way, you can call PayPal to verify a transaction to ensure that it's not fraudulent. You should also make sure the name of the person and email matches the name and email the PayPal transaction is coming from. And finally when they come up, ask for the driver's license and confirm the name and address again matches the PP payment. In Canada we have the Interac system (debit card payment) and you can send Interac payments through email for immediate secure deposit to your bank account. So basically I would only do cash, bank/interac wire or Paypal. Any kind of check, certified check, cashier's check etc can be faked and the guy will be long gone by the time the bank kicks it back.

A common Kijiji/Craigslist scam is that the scammer contacts you for the item and says he will send you a check and then come pick it up once you receive it and cash it in. He'll send you a certified bull**** check for an amount higher than the price. He'll contact you afterwards saying oops the check amount was $500 or whatever too high, please go ahead and cash in the check and just give me the extra when I come pick up the item. You get the check, deposit the money... then they show up, pick up the item, you give him the overage and off he goes. 4 days later your bank reclaims the check deposit because your certified check was bogus.

Be careful out there folks.

Dan