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-   -   What's common method for paying cash for boat? (https://www.offshoreonly.com/forums/general-boating-discussion/195726-whats-common-method-paying-cash-boat.html)

MDSmitty 09-20-2008 09:34 PM

Thanks.

Some good suggestions here.

I'll check out which are "low-hassle" for the situation.

Wouldn't it be a whole lot easier if everyone could just take a credit card? :)

phragle 09-20-2008 11:04 PM

small nonsequential unmarked bills, and have one of those nice jersey boys deliver it....

Michael1 09-21-2008 12:19 AM

The wire transfer procedure is really easy, fast, and clean. Do it at his bank. You call your bank for the transfer (get the particulars ahead of time). It's done in a minute. Their bank confirms the transfer, and he signs over the title. Done.

I wouldn't carry cash. That's insane. I had a guy buying my car one time who wanted to pay me in cash. I said, "Yeah, at my bank". He carried his cash to my bank, and I deposited it in my account, which ensures that the bills weren't counterfeit.

I would be careful with this guy. Anyone wanting cash only is hiding something.

Michael

fund razor 09-21-2008 07:14 AM


Originally Posted by Michael1 (Post 2692266)
I wouldn't carry cash. That's insane. I had a guy buying my car one time who wanted to pay me in cash. I said, "Yeah, at my bank". He carried his cash to my bank, and I deposited it in my account, which ensures that the bills weren't counterfeit.

That's what I did. The guy drove to town with 15k in a brown paper bag. I told him the title was at the bank. I left the bank with a deposit slip and he with a title. Then he just had to get his junk off my driveway! :D

Thunderstruck 09-21-2008 11:40 AM

Pay a lawyer to put the funds in escrow like buying a house. He knows the money is there and you know the money is safe. He gets a check from the lawyer, you take the boat.

shw-n-go h20 09-21-2008 01:18 PM


Originally Posted by Thunderstruck (Post 2692494)
Pay a lawyer to put the funds in escrow like buying a house. He knows the money is there and you know the money is safe. He gets a check from the lawyer, you take the boat.

Thats what i was going to say, we buy containers full of things from all over the world and thats the safest way for all parties involved, we verify we got what we paid for and they get their cash.

bobkatz 09-21-2008 03:31 PM

An alternative would be to get a small, no prepayment loan - say $7,500 and the bank will see that everything gets done correctly then pay off the loan early if you choose.

PARADISE ISLAND 09-21-2008 04:52 PM

Knock 30% off for cash:evilb:Run title search:cool:

OldSchool 09-22-2008 08:29 AM

I'm thinking tat the biggest question should be this. How much cash are you talking about? Is it 5 grand or 75 grand? Big difference.....:ernaehrung004:

TEAMBAJA 09-22-2008 10:50 AM


Originally Posted by OldSchool (Post 2693210)
I'm thinking tat the biggest question should be this. How much cash are you talking about? Is it 5 grand or 75 grand? Big difference.....:ernaehrung004:

I was just getting ready to post, is this a 1976 Starcraft or a brand new 51 Outerlimits?


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