| Author | Message | ||
     Duggram |
Would you trust a personal check from a WERA forum member for a bike sale? If you've ever been on the WERA racing forum you know they seem like a tight group and get pretty hostile at dishonesty. So here is my situation: Because of the holidays the buyer of my bike can't get cash or bank check. We're meeting half way on Sunday morning, about 12 hours each way. So I said I would take his personal check because I know him from th WERA forum. Then he said if he were me it would make him uncomfortable to take a personal check. Now I'm wondering if I'm wrong about taking a check from a forum member. About an hour later he says his bank won't let him make a withdrawal because he's made too many in the last 12 months. But I shouldn't worry because the check will be good. What do you think? Would you trust that check? | ||
| Rex |
sorry, but I would not. Your bank doesn't mind how much of your own money you take out, unless you have it in a CD or something like that. You always have to leave a minimum, of like $25 to keep the account open. I have not heard of a bank saying you take too much out? If they would, they would just charge you to do it....be careful | ||
| Kruizen |
get a photo or copy of their drivers license, make sure address, name,picture, and all of that matches the check. your bank might be able to give you an automated number to check the check funds. If you know someone that owns a business that takes checks, see if they will let you use their authorization number, typically the fee is upto a couple of dollars to have the check guaranteed by the 3rd party. They will generate an approval number automatically then if the check bounces they pay you and then they go after the payee. I've done it, wasn't comfortable with it, but I've done it. I had a money market account that I was limited to the number of withdrawels, but if I went over the number alloted, I was just charged a fee, not told I couldn't take the money out-so that sounds a little fishy. You could add a section to the bill of sale that covers what happens if the check doesn't clear, that way at least your somewhat covering yourself. | ||
| Reepicheep |
How about he gives you a personal check, you get to inspect his ID and write down the non sensitive stuff (not the drivers license number), he takes the bike, and you keep the title until the check clears. And bill of sale of course. That way, if it goes south, he has a bike without title, and you know who to report as a bike thief. If you get flaky, he has the bill of sale and the processed check and of course the bike. It puts both of you in a position where you both are motivated to complete the transaction. | ||
| Two_seasons |
Had a guy write a check to me, we took it to my bank, me riding my 1975 Z1 there. Bike listed at $1350 by me, buyer said ok, wrote check, we go to bank. At bank, cashier hands me $13.50. I said "that would be one thousand, three fifty, you made a mistake". She showed me the check. New owner wrote it for $13.50! Good thing I went to my bank before handing over the keys. BTW, he wrote a new check for correct amount. Moral of story...I was moving from VA Beach to Milwaukee in two days. There would have been ZERO recovery, I'll bet. | ||
| Thefleshrocket |
I'd get references from other WERA members that this guy is trustworthy. If you do decide to go ahead with the transaction, at least take the precautions that Reepicheep suggested. | ||
| Kruizen |
reepicheep why not drivers license number? I would ask for a copy of the license or a photo of the license. When you used to write a check anywhere they would write doen the DL number on the check. Now they can bar code scan your license. Since DL#'s aren't SocSec based anymore there really isn't anything sensative on the DL. I like the idea of the bill of sale until the check clears. then send the title. But if it is a track bike, then the buyer not care about a title anyway. | ||
| Rodrob |
Trust in Allah... But tie up your camel!! | ||
| Baf |
-edit- I need to learn to read better. (Message edited by baf on December 28, 2012) | ||
| Pgh_biker |
Do you have any other bikes you want to sell? | ||
| 1125rcya |
What about a certified cashier check? That's what I send! How trustworthy are they? | ||
| Brumbear |
nope | ||
| Colintornado |
No (english for nope) | ||
| Figorvonbuellingham |
I bought an item from a member here for over $500. When I got it it was a worthless piece of trash. Expensive lesson learned. | ||
| Glide |
You can get all the information you want because once you sign the title the bike is his. All you can do is try to collect on the bad check. | ||
| Figorvonbuellingham |
In other words I now trust no one..... | ||
| Fast1075 |
"In God We Trust, All Others Pay Cash". | ||
| Ljm |
Ask if your bank has automated deposit. Scan, raising the penalty for default, keep the title, and VIDEO AND SCAN HIS LICENSE AND SOCIAL. Even then maybe no. | ||
| Ratbuell |
Bill of sale stating you hold title until the check clears, and that you will mail it via certified mail once cleared. Photo of drivers license. Photo of check. Photo of title. Photo of bike, and of VIN stamp. Get many photos of bike, so he doesn't have a leg to stand on if he tries "I stopped payment because it wasn't as advertised". NO signatures on the title at this time. Sign your half when you mail it. 2 copies of bill of sale; you both sign both, and each keep one. That should cover you in the case of a bounce. But, if you aren't comfortable with it...you aren't comfortable with it and shouldn't do it. | ||
| Blake |
Some banks do charge a penalty fee for excessive # of withdrawals from a savings account. Sure sounds fishy though. I'd pass. | ||
| Smoke |
hey Doug. i have been corresponding with Brian about your bike for a while and racing some of the same events for the last few years. he is very enthusiastic about running heavyweight twins next year. let me know if i can be any help. tim 337 two five 8 six 764 | ||
| Reepicheep |
To answer the question of why not record the drivers license number.... I work for a company and my role is to protect sensitive personal information such as social security numbers and drivers license numbers. You would not *believe* the time and trouble we go to in order to keep that stuff safe. I suggested you not record it, because the cops don't need it if you have the rest of the information on the license (name and address mainly). The drivers license is mainly a way for you to get assurance that he is the identity he is claiming to be. To "lie", he would have to have created a good fake ID. Not impossible, but not easy, and probably harder than stealing the bike outright in the first place. So you drove the cost of the attack up higher than the value of the result, which is generally my goal. I'd be nervous about letting somebody have a full copy of my ID with drivers license number intact. I doubt they know how to store it safely over time, and they don't need it in the first place. I wouldn't want to store somebody elses, because I don't need it, and if that person gets popped by an identity thief a year later, I don't want them thinking I had anything to do with it. The best way to prove I didn't was to not even have the information in the first place. | ||
| Duggram |
Tim, thank you for the talk. I need to get my head clear on what I want to do. Now that I'm back to waffling I'll settle this with myself by Monday. | ||
| Tmchcrk |
Pay the fee to have the money wired to your account. Usually around $10-25? Works for me and the money is ALWAYS there before the exchange. | ||
| Srosenquist |
dont be fooled by mayhem, even if you hold the title he could wreck it and say no deal, youd have a totaled bike and a nice title | ||
| Figorvonbuellingham |
Cash on the barrel head. | ||
| Baf |
Drivers license number is a sensitive piece of information? Since when? And why? It's been written plainly on any correspondence I've ever seen from police involving a driver, any DMV paperwork you fill out, etc. I always assumed it was public record as well. Same with license plate numbers. People go to effort to blur them out in pictures and such; but why? You can't do much with them. I can look out my office window and gather a dozen different license plate numbers... | ||
| Milt |
In God we trust. All others pay cash. |
