Payment options when selling a bike

[sgollapalle]

I'm trying to sell my bike, and wondering if there are any other [than ones listed below] payment processing options that are favorable to both seller and buyer?

-Cash
-Money Order
-Paypal [not too keen after reading about the buyer protection and paypal possibly blocking the funds... Don't want to have to deal with refunds after I hand the title over]

[Grampa]

cash


only cash

[Dirty Duc]

Loan check from bank.

[red baron]

Go to bank with buyer and have teller hand your cash.

Mostly the reason I usually trade in vs. sell outright.

[Triple J]

I've accepted cash, bank cashier's check, and electronic transfer.

I've paid with cash, and with a check from the loan agency (State Farm Bank).

They all worked fine. If a buyer seems shady then pass.

[Spidey]

Take their wimmenz in trade.

[sgollapalle]

Thanks guys! Didn't think of the loan check/ going to the teller with the buyer option.

[Not looking for a trade at the moment. Will be back in the market in a couple of years though  ]

[Speeddog]

Take their wimmenz in trade.

Reminds me that I need to see the Blues Brothers again. 

cash


only cash

This ^, directly from a bank teller into your hands.

Everything else can be forged or an otherwise bogus transaction.

[Ill_Monstruo]

I wouldn't accept a money order if i were you. I have known of people who have received fraudulent Money Order's in the past for miscellaneous things. I would only take Cash or a Certified bank check or Loan check.

Cash first always.

[RichD]

I take cash, gold/silver bullion,  cash, or cash.    
(Also: QUALITY firearms.  Might as well count ammo in there as "cash" too   )

"If you Don't hold it, you don't own it!"

(When fraud is the status quo possession is the law)

[hbliam]

Cashiers check can also be forged.

I have taken the following:
Cash.
Cashiers check that I watched him draw from teller. Then went with him to my bank and had my teller call and verify check and release funds to my account.
Paypal cause the guy wanted to pay with his Amex. An exception I made based on who the guy was and me being able to find him again if I needed to. No problem though.

[ab]

Is putting a lean in the title another option until check clears?

I am about to sell my car to a friend who is going to be making a payment in a year.  So I will be putting a lien on the title.  I can't keep title as he will need to insure it n get tag etc.

[hbliam]

Is putting a lean in the title another option until check clears?

I am about to sell my car to a friend who is going to be making a payment in a year.  So I will be putting a lien on the title.  I can't keep title as he will need to insure it n get tag etc.

That's just a bad idea.

[sgollapalle]

Not sure how the Lean option would work... Would you be able to add yourself as a lean holder on the title with you listed as the owner? Then it wouldn't be a 'clear' title anymore.. Looks like it will only add a few more trips to the BMV and paying them.

One of the options I was considering is to hold onto the title until I cashed the money order/ cashiers check.
Now, say the buyer takes the bike, the money order turns out fake and I still have the title. Would it mean the bike was stolen? How would the insurance work in this case? Or would I still be in the same limbo and have to deal with as a fraud case...

I'm hearing cash is the best option, so I'm going to try to stick to that as much as possible. For out of state buyers that want the bike shipped, I guess I could take a cashiers check/ money order and ship the bike only after I have the cash in hand.

[xsephirot]

Cash or Bitcoin.