Selling an RV; a "heads-up" tale

[abnorm]

My bank advises: "Zelle® is a fast and easy way to send and receive money with people you know and trust."

 

[Camper]

When I sell a vehicle or anything with a title.... it will be cash at my bank, or I will find another buyer.

 

[Jimmyflorida]

Plus with new laws on taxes there saying you be getting a 1099 from zelle although you should be about to get it canceled out seems like a hassle

 

[user 19146]

my Bank told me the same thing. real fast, but a transfer took 8 days to send money to myself. so it depends on how both banks send and receive that transfer and also if the transfer will include a week end. note: banks only transfer money on weekdays. and they may require the real money in their bank before you have access to it.

 

[scaredycat72]

Plus with new laws on taxes there saying you be getting a 1099 from zelle although you should be about to get it canceled out seems like a hassle

Just FYI, the new law doesn't apply to Zelle. They're not an app and they don't hold your money. It does apply to PayPal and some other ones though. Zelle has been trying to get the word out about the law not applying to them.

 

[Catalyst1]

3+ years ago I sold my Conquest RV to a group of 4 buyers who arrived in a van, they were from Germany. I just wanted to relay what happened briefly as a warning to sellers. They came and saw the RV, loved it, and asked if they could pay by Paypal full price because endless reasons. I said I was not familiar with this and would prefer cash, but they insisted it was modern and safest for everyone and that they'd put the money in my account that night and I could verify it and they'd pick up the RV early the next morning. They said they planned on taking it to Baja. So I thought "hmmm" and waited an hour and sure enough, there was the full amount right there in my bank account. I am old school and figured once it's there, it's there. They emailed to verify I'd seen the amount in and that the title transfer and keys hand-over were to take place at 6 AM as it was a "done deal". So, I went to bed thinking things were fine, but this little birdie in my head woke me up and said to check on things again. So I went to my bank account online at 3:30 AM and sure enough 100% of the recently-transferred-in funds were now withdrawn, without my knowledge, without my permission! I called Paypal and they said the buyers had filed a "dispute" and so Paypal had the right to withdraw the money and that it would take days to resolve! I called a friend to come as backup for when the buyers arrived at 6AM because this all sort of scared me. My friend told them "cash and carry only and you're lucky we don't call the police." Amazingly (not) these people were able to hit every ATM in town and come up with the funds, and we completed the paperwork. THAT was a close call, because the police barely look for nice stolen cars, let alone old RVs, and once it crossed to Baja, it'd be adios. I would never be able to track down these foreign buyers, the RV or the cash. So that's why I will never take Paypal for transactions, because the buyer can falsify a dispute and get their money and run. Getting things back is next to impossible. I think it's got to be a well-known ripoff technique in some circles.

Hi C, This is a well-known scam among folks who use Craigslist regularly. CL warns its users not to do deals that way. Always do business with local people, always cash only. Unless you are bartering, of course, but that is different subject.

 

[quilting22]

I would have taken their money then charged a $1000 to sign the title. You did make them give you a copy of proof of insurance I hope or if they got in a wreck you'd be liable. Also the proper way is to do the deal at the sec of state so you're sure it's out of your name.

I had a policeman tell me immediately on selling a vehicle go right to the DMV with a signed bill of sale and the DMV fills out a form stating you are no longer the owner of the vehicle. They electronically file this and give you a copy. Protecting you from any accident or other claims.

 

[Happy Camper]

I had a policeman tell me immediately on selling a vehicle go right to the DMV with a signed bill of sale and the DMV fills out a form stating you are no longer the owner of the vehicle. They electronically file this and give you a copy. Protecting you from any accident or other claims.

In California at least, you can do Release of Liability online. Takes 2-5 minutes and you're clear just like that. I've done it on my phone before they even started it up to leave.

I'm uncertain about other states. But I would imagine that offloading certain DMV functions makes a lot of sense regardless of what state it is.

Here a link in case anyone is in Cali selling a vehicle.
https://www.dmv.ca.gov/portal/vehic...ice-of-transfer-and-release-of-liability-nrl/

 

[DLTooley]

I like going to the DMV with the seller and to finalize the sale with the clerk.

 

[maki2]

^^^absolutely. Even when selling a boat I did that. Never had any issues even before I started that practice although I never had out of the area buyers.

 

[Happy Camper]

One thing I have done is meet up with the buyer at AAA, as they do DMV functions. Less waiting if there is an office in the area.

It's a solid alternative. I actually did that when I bought a Jeep a few years ago. The seller seemed a little skittish and it gave me some peace of mind to do the entire transaction there. If there was something strange with the title or whatever, it would be caught before money changed hands.

 

[twomountainlions]

Cash transfer inside the bank, no checks. Sure they can write a check but they got to convert it to cash before the deal proceeds. I'd accept zelle from a dealer.

 

[WanderingRose]

I sold my rv a few months ago via certified check, which is what my bank said was safest.

The buyer and I went to my bank together, it was deposited and confirmed the funds were available before the rig changed hands.

No problems.

 

[twomountainlions]

Zelle is known for chargeback dispute scams too and other types of fraud, such as sending a payment using stolen credit card which later will be reversed by the bank, they are not as irreversible as they claim.
People sold cars and lost money and car this way.