• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

How do I handle payments for a used vehicle from a private party?

M

Mears

Platinum Member
I'm going out to look at a motorcycle tomorrow that was listed on craigslist a few weeks ago. I've talked with the guy a few times, and if everything checks out, I'd like to leave a down payment and then pick it up this weekend. This will be my first used vehicle purchase, so I'm wondering how I need to handle this. I'm planning on putting $500 down and then paying the rest upon pickup.

1. Does this sound OK?
2. What form of payment should I use for the down payment? Cash, cashier's check/money order, or check? I'm assuming I'll want to use a cashier's check when I pay the remainder.
3. If I put down a down payment tomorrow, is it realistic for me to expect to be able to pick it up this weekend?
 
1. no never buy a used motorcycle, its been abused and will most likely fall apart after your first hiccup on it
2. use personal check, that way you can stop payment when the thing is a lemon right outta the gate
3. why would you put a donw payment on it? 😕 I'd rather let someone else have it than give up ANY money upfront taht the guy could run off with
 
You should do the down payment with check, just in case something goes horribly wrong and he decides to run off with your money. Once you are ready to take the vehicle into your possession, the form of payment doesnt really matter.
 
Originally posted by: Drakkon
1. no never buy a used motorcycle, its been abused and will most likely fall apart after your first hiccup on it
2. use personal check, that way you can stop payment when the thing is a lemon right outta the gate
3. why would you put a donw payment on it? 😕 I'd rather let someone else have it than give up ANY money upfront taht the guy could run off with
Click to expand...



1. you are retarded, and do not know what you're talking about.
2. I would never sell a car/motorcycle to someone wanting to pay w/ personal check. cashiers check, that is purchased while I am there. (i.e. we meet at bank, they get check, hand me check.) that way, they CAN'T cancel it and scam me, and they have recourse through small claims should it be stolen, etc.
3. wtf? At this point I'm assuming you're kidding. I'm hoping he isn't meeting someone in a publix parking lot.. so unless someone is renting a house to sell a ~8-9k motorcycle... yeah...


get a clue.. or maybe my sarcasm meter is severely broken
 
Originally posted by: Drakkon
1. no never buy a used motorcycle, its been abused and will most likely fall apart after your first hiccup on it
2. use personal check, that way you can stop payment when the thing is a lemon right outta the gate
3. why would you put a donw payment on it? 😕 I'd rather let someone else have it than give up ANY money upfront taht the guy could run off with
Click to expand...

a private seller would have to be a total idiot to accept a personal check from someone he doesn't know.
 
Obviously, I'm checking this out at the guy's house. So if everything checks out, should I just tell him I'll pay on pickup? And with cash?
 
Originally posted by: Mears
Obviously, I'm checking this out at the guy's house. So if everything checks out, should I just tell him I'll pay on pickup? And with cash?
Click to expand...

I would leave a down payment. I wouldn't leave $500.


IMO, $100 is plenty. all the money is for is to show you will be back to get it. if you aren't back, he keeps the money for time wasted waiting for you.


If you're comfortable that he isn't trying to scam you, just pay with cash. normally this gives you more bargaining room. many people will only accept cash, and that's not really that unreasonable. if it's at his house, that's obviously lived in, then i wouldn't worry about it. I just bought my truck and paid with cash. a good friend of mine sold his v-rod that was completely chromed out for $18k, cash. the person who bought it came from a state away and didn't think twice about it.
 
The last two cars I bought private party I bought with a personaly check 🙂. Ask the dude how he wants to handle it when you go see it.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top