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What's common method for paying cash for boat?

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Old 09-20-2008, 10:34 PM
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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?
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Old 09-21-2008, 12:04 AM
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small nonsequential unmarked bills, and have one of those nice jersey boys deliver it....
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Old 09-21-2008, 01:19 AM
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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.

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Old 09-21-2008, 08:14 AM
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Originally Posted by Michael1 View Post
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!
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Old 09-21-2008, 12:40 PM
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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.
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Old 09-21-2008, 02:18 PM
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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.
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Old 09-21-2008, 04:31 PM
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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.
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Old 09-22-2008, 09:29 AM
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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.....
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Old 09-22-2008, 11:50 AM
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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.....
I was just getting ready to post, is this a 1976 Starcraft or a brand new 51 Outerlimits?
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Old 09-22-2008, 11:52 AM
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For conversation.... what if it's something in between, say....26k?
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