|
|
03-12-2021, 08:46 AM
|
#43
|
Senior Member
Join Date: Mar 2018
Posts: 453
|
I can only say that we had a very difficult time trying to purchase a motorhome in another state by wire transfer from our credit union to the buyers bank. It was such a hassle I doubt we will try it again, but then, again, we very seldom need to move large sums of money to private individuals. Wire transfer between our credit unions and various investment companies works very well, however. I told my sons to open an account with a national or at least a regional bank if they expect to do wire transfers, and don't expect to find the same level of efficiency using a credit union, specifically where time is a major factor.
Perhaps a better suggestion is to first talk to your financial institution and follow their requirements regarding wire transfer.
|
|
|
|
Join the #1 RV Forum Today - It's Totally Free!
iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!
|
03-12-2021, 08:56 AM
|
#44
|
Registered User
Newmar Owners Club Ford Super Duty Owner Freightliner Owners Club Retired Fire Service RVer's
Join Date: Jan 2019
Location: Rosemary Farm, Northern Ca
Posts: 5,444
|
Quote:
Originally Posted by bmcgc
Life is just an exercise in risk management.
I try to avoid and/or minimize risk.........Thats why I dont carry cash.
|
Yeah Buddy....!
I drove the coach from Ca to Richmond Va to buy a car, liked it, wired the funds to the guy, rented a trailer and towed it home. Easy for both parties. Wiring funds takes a couple hours so if you start at 9am you’ll be done before noon. Just need to beat the 2pm cutoff or you’re into the next day.
|
|
|
03-12-2021, 09:40 AM
|
#45
|
Registered User
Join Date: Jan 2021
Posts: 2,184
|
Quote:
Originally Posted by R.Wold
Yeah Buddy....!
I drove the coach from Ca to Richmond Va to buy a car, liked it, wired the funds to the guy, rented a trailer and towed it home. Easy for both parties. Wiring funds takes a couple hours so if you start at 9am you’ll be done before noon. Just need to beat the 2pm cutoff or you’re into the next day.
|
Do you feel that your transaction would have been more difficult, or risky, if you had handed the seller an envelope with $5000 in cash?
Sure, wire transfers are easy, from person to person, investment firm to Credit Union or Title company to bank. Same for writing a check or using a credit card.
In fact, to address the thread title, it is actually very easy to buy anything.
|
|
|
03-12-2021, 10:31 AM
|
#46
|
Registered User
Newmar Owners Club Ford Super Duty Owner Freightliner Owners Club Retired Fire Service RVer's
Join Date: Jan 2019
Location: Rosemary Farm, Northern Ca
Posts: 5,444
|
Quote:
Originally Posted by Kid Gloves
Do you feel that your transaction would have been more difficult, or risky, if you had handed the seller an envelope with $5000 in cash?
Sure, wire transfers are easy, from person to person, investment firm to Credit Union or Title company to bank. Same for writing a check or using a credit card.
In fact, to address the thread title, it is actually very easy to buy anything.
|
Well it was a little more than 5k so logistics were more trouble than just doing a wire xfer. I bought a 5th wheel with $16,000 cash, and a little something in my boot just in case. But like BMCGC, I’d rather not temp fate.
|
|
|
03-21-2021, 02:47 PM
|
#47
|
Senior Member
Ford Super Duty Owner
Join Date: Jul 2020
Posts: 116
|
Quote:
Originally Posted by bmcgc
My banking is a CU, about a dozen branches, all with-in 50 miles of my home.
I can understand that people are apprehensive about money transfers in todays global fraud market, so why isnt the global financial industry figuring out how to handle this...
|
The fraud I would worry about is the seller has your cash and you don't get a good title. Then you have nothing but that hulk in the driveway that you can't register for tag & title, can't insure and as a result, can't use.
Ask your CU why they don't like to finance a MH and i'll bet you hear a similar story.
|
|
|
03-21-2021, 02:50 PM
|
#48
|
Senior Member
Join Date: Feb 2020
Posts: 128
|
Scam
It’s a scam.
He probably took somebody’s add , copied added his contact information and posted.
You show up with cash and his accomplices are waiting to rob you.
Good bye cash and no my.
You see these add a lot on Craigslist for vehicles and boats.
Total scam.
Be safe
|
|
|
03-21-2021, 02:54 PM
|
#49
|
Junior Member
Join Date: Aug 2020
Posts: 18
|
Quote:
Originally Posted by bmcgc
My banking is a CU, about a dozen branches, all with-in 50 miles of my home.
The MH I want to buy is 90 miles away just across the state line in Alabama.
Of course the seller wants cash. Im not driving across the state with cash in my car.
He doesnt want a certified check or a cashiers check or a wire transfer, he wants cash.
I can understand that people are apprehensive about money transfers in todays global fraud market, so why isnt the global financial industry figuring out how to handle this.
At this point it looks like its a no-go for me. Im not transporting cash he will not accept anything but cash. He will not drive to my nearest branch to get cash.
|
This is too fishy — I would find someone who wants to sell a MH and not someone who appears wants to hide a whole lot of cash.
|
|
|
03-21-2021, 03:12 PM
|
#50
|
Senior Member
Winnebago Owners Club
Join Date: Jun 2013
Location: Full-timer/volunteer w/SOWERS
Posts: 3,958
|
Quote:
Originally Posted by okcnewbie
I think this sounds a little fishy to me. There are many, many ways to safely transfer money now. You could meet him at his CU or bank. You're better off.
|
I have not read all the posts.
I would flee this deal rapidly. Banks have to report large withdrawals to the IRS for one thing and you have no idea what the seller will do with you "clean" cash.
__________________
Rick & Melissa Young, 2011 Itasca Meridian 40U, Frtliner XCL, Cummins ISL 380HP/DEF, Allison 3000 MH, 2014 Honda CR-V, SMI AF1, Blue Ox, EEZ TPMS, TruCenter steering control
Servants On Wheels Ever Ready. Best job we ever paid to do . (full time volunteers)
|
|
|
03-21-2021, 03:17 PM
|
#51
|
Member
Entegra Owners Club Retired Fire Service RVer's Spartan Chassis
Join Date: Mar 2016
Posts: 44
|
Run don't walk
No deal is so good to use cash only, wouldn't you be concerned if the seller only wanted $XXXXXX Amazon, MasterCard, or whatever card?? Pass on cash only sales.
|
|
|
03-21-2021, 03:23 PM
|
#52
|
Member
Join Date: Jan 2021
Posts: 84
|
Then again he's not realizing that you could be bringing a pile of bills with counterfeits mixed in. The safest way to do any transaction these days is electronically.
|
|
|
03-21-2021, 03:26 PM
|
#53
|
Senior Member
Newmar Owners Club
Join Date: Dec 2018
Location: North Carolina
Posts: 673
|
Call the Sheriff's Dept in the town and explain what you want to and your hesitancy...see if they will advise or meet you at the seller's house to witness the transaction......this may just be a cautious seller
|
|
|
03-21-2021, 03:28 PM
|
#54
|
Junior Member
Join Date: Oct 2013
Posts: 2
|
This sounds like the makings of an episode of “Breaking Bad!”
|
|
|
03-21-2021, 03:28 PM
|
#55
|
Member
Fleetwood Owners Club Freightliner Owners Club
Join Date: Oct 2015
Location: Kansas City, MO
Posts: 57
|
Quote:
Originally Posted by bmcgc
My banking is a CU, about a dozen branches, all with-in 50 miles of my home.
The MH I want to buy is 90 miles away just across the state line in Alabama.
Of course the seller wants cash. Im not driving across the state with cash in my car.
He doesnt want a certified check or a cashiers check or a wire transfer, he wants cash.
I can understand that people are apprehensive about money transfers in todays global fraud market, so why isnt the global financial industry figuring out how to handle this.
At this point it looks like its a no-go for me. Im not transporting cash he will not accept anything but cash. He will not drive to my nearest branch to get cash.
|
We've bought and sold multiple big-ticket items across state lines over the past several years, including 3 motorhome, a boat, 3 cars and a motorcycle. Most were in the $30k - $50k range.
I have accepted cash, cashier's checks and wire transfers but will only pay by local certified check or wire transfer. Exchanging papers at the seller's or buyer's bank is perfectly acceptable. It's a great idea if anything needs to be notarized.
A seller or buyer who demands cash and meeting on his turf is a huge red flag. I've walked 3 times on such deals. Not worth the risks.
|
|
|
03-21-2021, 03:29 PM
|
#56
|
Member
Join Date: Mar 2017
Location: Kansas City, MO
Posts: 57
|
Squirrelly Sale
If the sale is over $9,999.99, he's probably trying to avoid disclosing the money to somebody or something; divorce, income tax, child support, etc. In the meantime you'd be subjected to scrutiny by the Feds for that kind of withdrawal. I'd stay away from this deal, too. Good luck. Not all deals are the only deal in town, or out.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
|