Best form of payment when selling an RV ?

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owensg123

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Aug 17, 2017
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So I am trying to sell my travel trailer because we bought a motor home.  I have it listed on RVTrader, Craigslist, RVT, etc. etc. All these sites give you several tips on fraud prevention when selling an RV.  Every time I've sold something to  private individual (boat, cars, motorcycles) I've ask for a cashiers check or cash. But now all the sites indicate the even cashier checks are dangerous because people are making fake cashiers checks! So since I haven't sold anything in a while I was wondering if any of you out there have sold something recently i.e. and RV and what type of payment did you take for it?  Also, did any of you get ripped off by someone using a fake cashiers check?  Thanks!
 
I sold a motorhome recently, listed it on Craigs list. The buyers wanted to pay in cash at my home. I had them meet me at my credit union so the cash could be verified and counted. Everything went smooth, the buyers though did not want to give the teller their names.
 
Search this site here about the topic. Search " Tips about selling an RV"  We had a good lenghty disussion about this.
 
I sold my 2010 Bounder via Craig's List. The buyers (out of state) were more than happy to go to my local bank with me and allow us to stand at the counter as he procured a Cashier's Check. We had all of the documents and sale agreement notarized right there, easy peasy.
 
I only deal in cash, whether in or out.  The less the gov't can find about me and my life the better.  I don't trust the 'big brother' concept of any entity in an authoritative position.  The more we give our privacy away, the more susceptible we are to be taken advantage of in some way or manner.  Just one of my creeds I live by.

Signed:  D.B. Cooper
 
Cash only for vehicles!  Too many scams out there, even with online transfers, fake cashier's cheques etc.  If someone claims to have the cash to buy, they can take the cash out of the bank.  I go with them, take the cash as soon as they get it from the teller and sign the bill of sale on the spot.
 
Rene T said:
I wonder why.  :eek: ::) ???
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Large cash transactions get special government scrutiny due to the problem of money laundering. The RV may have been purchased with drug funds or just by someone who gets a lot of cash under the table without paying taxes on it.
 
That's the way to do it.....cash or cashier's check at the bank or credit union. Also, make sure you have a copy of  the title signed by both parties or at least visually confirm the title goes in the mailbox.
 
Talk to a knowlegable banker about a wire transfer, it takes a couple of hours to complete, is secured by the Federal Reserve and avoids being around large amounts of cash.
 
Greg Barker said:
I sold a motorhome recently, listed it on Craigs list. The buyers wanted to pay in cash at my home. I had them meet me at my credit union so the cash could be verified and counted. Everything went smooth, the buyers though did not want to give the teller their names.
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Very smart to meet them at a public place!  Kudos to you - Obviously how that money came into their hands is suspicious. 

On the other hand when we asked for a $31,000 cashiers check for our motorhome the teller said "What for?"  Before my wife could answer I asked why she needed to know?  I was under the impression I was asking for MY money. ;)  She said she was trying to protect me incase I was going to tell her something she determined was a scam.  BS - She was just nosey.
 
I took a bank check, drawn on a nationally known bank (BOA), which happened to also be the bank that held my loan (wasn't paid off yet). Did the transfer at the bank so they could verify the transaction, but the RV wasn't delivered until the check cleared anyway.

The problem gets more sensitive if the buyer expects to hand over payment and drive away with title in hand. If that's the requirement, you need verifiable cash or check. Those $100 bills can be counterfeit too!  Discuss payment verification with your bank, and do the transaction there. If a check, make sure the issuing bank or certification agency really exists and that funds are available to back it.
 
I sold my last RV for cash, but my understanding is that any deposit for more than $5000 needs to be reported by the bank to the government as this is how they find drug traffickers.

When i bought my current RV I drove through the night to San Diego and spent a few hours that next morning inspecting the rig to make sure nothing was wrong.  I brought a bank check with me and agreed to go to the seller's bank and allowed him to deposit this.  He too was worried that even a bank check could be fraudulent and was reluctant to provide the title or even the keys for me to drive it away.  To convince him that I was legitimate I brought a recent bank statement to show that I really had the funds to buy his MH.  I encouraged him to have his bank call my bank to verify that the bank check was authentic.  I also provided my LinkedIn URL to show that I was who I said I was.  The seller was then convinced enough to let me take the RV, but the title, held by the seller's bank, was not available until the bank check cleared the seller's bank.  That bank then released the title to me.
 
The last few RVs I have bought and sold have been done at my bank. I ask the buyer if he wants cash or a cashier's check. Either way we both go to the bank and I get the check or the bills with him standing there.
 
Something else to worry about.... maybe?

As I recall now, years ago (10), I asked my bank (M&T in Pa.) if I deposited $100 bills into their bank and the bills were phony, would I be responsible to correct. I was told, yes, but manager said: "had not happened there yet."

Shook me up, since I was relying on the bank's expertise to be safe. I continued with transaction, dismissing possibility.

Now, I wonder if I recall things correctly..... help. 
 
I sold my last RV for cash, but my understanding is that any deposit for more than $5000 needs to be reported by the bank to the government as this is how they find drug traffickers.
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I think it's $10,000 and over that needs to be reported.
 
Sold my Goldwing, went to the buyers bank, they said that they preferred to give me a cashiers check instead of cash, with a bs story about not having enough large bills to pop out 12K, sounded strange, but I said ok, took the check, signed over the title. Drove immediately to my bank to deposit the check, my bank said the funds wouldn't be available for 3-5 business days for verification! I was pissed! No motorcycle, no money....Grrrrr! Took the check back to the buyers bank within 2 hours of receiving it from them, and they told me they wouldn't cash it because I didn't have an account there! Double Grrrrr!! I got the manager and read her the riot act! After a lot of heming and hawing, they finally managed to cough up the 12K in cash. A totally unnecessary bunch of running around and stress...I won't take a cashiers check again, not even from a bank!
 
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