Payment by cheque

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Oct 31, 2001
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#1
Hi,

Just need some quick advice.

I'm selling one of my dirt bikes, and have someone who's come to see it and wants to buy it. We've agreed on price and everything. He's supposed to come by tomorrow to pay for and take the bike. Thing is he wants to pay by cheque. Now nothing else in this deal is setting off alarms, no I'll give you an extra 1000 and you give me it back etc, so I'm probably just being paranoid. Should Iaccept the cheque? I mean is there anything he can do to royaly screw me out of my money? I'd plan on photocopying a few peices of ID to be sure I can find him again, and have him sign a quick contract, but would really hate to loose my money. I'm asking cause I honestly have no experience with cheques. My personal checkbook is onto cheque number 6, and I've had it for like 8 years now :|

Anyways, Let me know what you think please :)

Later
 

High Lord Gomer

Poked with Sticks
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#2
If you don't personally know him, then go to the bank *with* him to cash the check and don't hand over the bike until that is done.

I don't know what the laws are regarding bad checks where you are, but even if they have stiff penalties, it's not worth the potential hassle of trying to collect on it.
 

XRpredator

AssClown SuperPowers
Damn Yankees
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#3
I had a guy pay by czech once.

goofy bugger kept telling me how he was turning into a cockroach. what a headache :| I'll never accept a czech again.
 
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#4
Wouldn't take the chance! Do what High Lord suggest. If the check is bad you can count on not getting the money and if your lucky you might get the bike back but in alot worse shape.
 

holeshot

Crazy Russian
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#5
If he can write you a check, he can also give you the cash.

Take cash.
 
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#6
I ran into the same situation when I sold my last bike. He came, looked it over, agreed on a price. Then he asked if a check was ok. .. I hesitated a bit and he said he could probably come back at a later date with cash.


Since we were only talking about $800 I decided it would be ok to take the check. He wrote it from a business checkbook. The same name that was on the side of his truck was on the check stub.

If some guy goes through all that work to open a fake business checking account, paint a fake logo on his car, make fake business cards, etc. I figured he would be scamming people for more than $800. :)
 

mtk

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#7
If you take the check, prepare to get screwed over on the sale.

There is absolutely no reason, at all, he can't stop at the bank and cash that check before he comes to get the bike.

In God We Trust, all others pay cash. ;)
 

IndyMX

Crash Test Dummy
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#8
Tell him there is a 20% handling fee on a check, and if the check should not clear for some reason, there is a 50% fee for dealing with it. And a 75% recovery fee on the bike.

Or no fees just to pay cash.
 
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#9
There are still honest people out there that don't like to carry large sums of cash. If this guy is one of them, then you will be fine if you take the check. Of course, there are also scammers and forgers. These people will steal other peoples checks and pass them off as their own (sounds like you are prepared for this by checking ID). There are also those that will write a check, knowing that once they have arrived home with the merchandise, they will pay the small fee required to cancel the check and leave you with nothing. If this happens, then you may not know for a couple of weeks, and if you have already spent the money, then you are screwed. It's really your call though. Some would say "hope for the best, but prepare for the worst".
 
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#11
I have sold many by check, never been burned. But if you are not ok with it, if you have a title tell him you will mail it as soon as the check clears. Some banks allow you to make sure the funds are in the account just by calling in. But these guys are right, your safer by cash aor cashiers cheque. Tell the man you are buyng a new bike this weekend and you dont have time to wait for a personal cheque to clear, most banks wont give you cash for a large peronal cheque for 3-6 days. If he wont do it tell him thats fine you had another offer just come in willing to pay cash.
 

kmccune

2-Strokes forever
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#12
Take the check.. um sorry cheque, but write up the bill of sale to state that the bike changes hands after the check ... darn it cheque clears and make this point clear. If he wants the bike sooner he'll go to the bank. But if you need the money now, cash or nothing.

Sorry for the English joke, I couldn't resist :)
 
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#15
Save yourself and him the heartache and take only cash. Even upright people can be bad money managers, and for reasons beyond their control bounce a check. Then he's embarassed, you are embarassed, one or both of you will end up angry as you try to straighten it out, both of you will have fees from your banks.

And that's just assuming a possible bookkeeping error.

Then there are the unmentionable slime people who really just don't have a heart or a sense of fairplay.

Cash is best.