Notices
The Boating Forum

Safest Payment to Accept for Boat

Old 10-27-2015, 12:31 PM
  #1  
Senior Member
Thread Starter
 
Join Date: Sep 2006
Posts: 363
Likes: 0
Received 2 Likes on 1 Post
Default Safest Payment to Accept for Boat

I may be selling my boat for between $15k-$20k. Carrying and counting all that cash doesn't make sense. What is the best payment to ask for? Seems like anything can be scammed now-a-days.

Thanks.
Old 10-27-2015, 12:34 PM
  #2  
Member
 
Join Date: Mar 2015
Posts: 60
Likes: 0
Received 1 Like on 1 Post
Default

Bank wire transfer.
Old 10-27-2015, 12:36 PM
  #3  
Admirals Club Admiral's Club Member
 
Join Date: Sep 2008
Location: North Shore MA
Posts: 540
Received 68 Likes on 38 Posts
Default

I just sold an older Chevelle to a member from here long distance....he showed up with cash (same range you are talking about), we signed papers, exchanged $, very simple.

You can electronically transfer money through bank (bought E-tec 1200 miles away that way), but prefer the cash way....oh, concealed permit to carry helps when going to bank.
Old 10-27-2015, 12:39 PM
  #4  
Senior Member
 
Join Date: May 2015
Location: Foley, AL
Posts: 167
Received 27 Likes on 19 Posts
Default

Purchased my boat a few yrs ago thru PopYachts and the money was transferred to the seller via bank/wire transfer. Very dependable and confirmation of receipt is recorded the same day or less.
Old 10-27-2015, 12:41 PM
  #5  
Admirals Club Admiral's Club Member
 
Join Date: Dec 2008
Location: Texas
Posts: 6,592
Received 1,189 Likes on 646 Posts
Default

wire transfer or Cash at your/thier bank and let the bank count it and check it to make sure no counterfeit

Last edited by Jeepman; 10-27-2015 at 02:12 PM.
Old 10-27-2015, 02:09 PM
  #6  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2011
Location: Tampa, FL
Posts: 2,170
Likes: 0
Received 539 Likes on 255 Posts
Default

Wire transfer, or I'd also accept meeting at the Buyer's bank to witness him draft a certified check. That second option is the only other way I've accepted money for personal sales other than cash.
Old 10-27-2015, 02:15 PM
  #7  
Senior Member
 
Join Date: Sep 2013
Posts: 148
Likes: 0
Received 1 Like on 1 Post
Default

Go to the bank and get a cashiers check.
Old 10-27-2015, 02:19 PM
  #8  
Senior Member
 
Join Date: Jun 2015
Location: Fort Lauderdale
Posts: 1,321
Received 290 Likes on 165 Posts
Default

Originally Posted by grandpab View Post
Go to the bank and get a cashiers check.
Bad idea! I sold a motorcycle a few years back guy also used same bank as me he got a cashiers check and an hour later I tried to cash at the same branch and bank wouldn't cash saying that customer used his checking account to get the funds and it would be 48 hours before they cleared the funds. Eventually got paid but is not a sure fire method and can be a hassle.

Cash is only payment I accept now!
Old 10-27-2015, 02:25 PM
  #9  
Senior Member
 
Join Date: Aug 2011
Location: Long Island, NY
Posts: 2,667
Likes: 0
Received 1 Like on 1 Post
Default

I like cash.

What about post office money orders?
Old 10-27-2015, 02:26 PM
  #10  
Admirals Club Admiral's Club Member
 
Join Date: Jun 2007
Location:
Posts: 4,848
Received 986 Likes on 484 Posts
Default

1. Meet at bank and get wire done in person then confirmed arrival at your bank.
2. Meet at bank and have them issue cashiers check in person and confirm funds.
3. Meet at bank and get cash.
Old 10-27-2015, 02:31 PM
  #11  
Admirals Club Admiral's Club Member
 
Join Date: Dec 2013
Location: Central Florida
Posts: 278
Likes: 0
Received 13 Likes on 8 Posts
Default

Originally Posted by wangotango321 View Post
1. Meet at bank and get wire done in person then confirmed arrival at your bank.
2. Meet at bank and have them issue cashiers check in person and confirm funds.
3. Meet at bank and get cash.
Exactly.

When I bought my boat, the seller and I met at my bank and I let him choose which way he wanted to receive payment. He chose cash. Done right there in front of the teller.
Old 10-27-2015, 02:31 PM
  #12  
Senior MemberCaptains Club Member
 
Join Date: Jan 2003
Location: Charleston, SC
Posts: 3,378
Received 3,826 Likes on 1,707 Posts
Default

Originally Posted by NorthwestSteve View Post
Bank wire transfer.
This.
Or, go into the bank with the buyer, stand with him at the teller while he draws a bank check.
I wouldn't accept cash from an unknown buyer, as there's a chance you'll get payed in counterfeit C-notes.
Old 10-27-2015, 02:37 PM
  #13  
Senior Member
 
Join Date: Aug 2011
Location: Long Island, NY
Posts: 2,667
Likes: 0
Received 1 Like on 1 Post
Default

Originally Posted by coastboater View Post
This.
Or, go into the bank with the buyer, stand with him at the teller while he draws a bank check.
I wouldn't accept cash from an unknown buyer, as there's a chance you'll get payed in counterfeit C-notes.
Do the cash exchange at your bank and have them check the bills.....
Old 10-27-2015, 02:41 PM
  #14  
Junior Member
 
Join Date: Sep 2015
Posts: 1
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by wangotango321 View Post
1. Meet at bank and get wire done in person then confirmed arrival at your bank.
2. Meet at bank and have them issue cashiers check in person and confirm funds.
3. Meet at bank and get cash.
^^^ This ^^^ A cashier's check is just a piece of paper that can be easily forged. You need to see it issued.
Old 10-27-2015, 02:42 PM
  #15  
Admirals ClubCaptains Club Member Admiral's Club Member
THT sponsor
 
Join Date: May 2007
Location: Wilmington, NC
Posts: 1,739
Received 79 Likes on 55 Posts
Default

Cash or wire. Cashiers checks can be cancelled.
Old 10-27-2015, 03:34 PM
  #16  
Senior Member
THT sponsor
 
captain nate's Avatar
 
Join Date: Sep 2010
Location: Bradenton Florida
Posts: 8,504
Likes: 0
Received 38 Likes on 26 Posts
Default

Originally Posted by NorthwestSteve View Post
Bank wire transfer.
this. its what i did when i sold my etec. wire transfer is instant...
Old 10-27-2015, 03:37 PM
  #17  
Senior Member
 
Sneaky Snooker's Avatar
 
Join Date: Nov 2013
Location: South Florida
Posts: 9,084
Received 669 Likes on 270 Posts
Default

Originally Posted by NorthwestSteve View Post
Bank wire transfer.
This^^^^^^^^^^^^^^^^^^^^^
Old 10-27-2015, 05:44 PM
  #18  
Senior Member
 
Join Date: Jul 2015
Location: New Hampshire
Posts: 1,649
Likes: 0
Received 134 Likes on 73 Posts
Default

I drove from NH to NJ with 20k in cash in a backpack to buy my boat. It actually did not take too long to count and if its all 100's then its not really as big of a wad as you might imagine. Cash talks!
Old 10-27-2015, 06:45 PM
  #19  
Junior Member
 
Join Date: May 2015
Posts: 12
Likes: 0
Received 0 Likes on 0 Posts
Default

Undocumented large bills works very well along with someone to cover your backside
Old 10-27-2015, 06:54 PM
  #20  
Senior Member
 
Join Date: Apr 2010
Posts: 1,585
Likes: 0
Received 32 Likes on 26 Posts
Default

Be careful carrying large amounts of cash. If you get pulled over and the cops find it, they can use a process called "civil forfeiture" to steal it from you and you will never see it again. If they just claim they believe the money is drug money then it can be seized and used to buy toys for their department. You have virtually no due process if this happens. Totally against the 4th amendment but that never stopped them before. Google it!

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.