Private sale

[shiraz627]

I'm planning on purchasing a tractor from a private party in the 12-15K range. What is the best way to handle the financial end of the transaction since it's probably going to be a long distance purchase and I will not be present when it gets picked up. About 5 years ago I was handling the sale of a mid range excavator and the buyer wired the money directly to the bank then made arrangements to have it picked up. I'm thinking along the same lines.

 

[shiraz627]

If you don't know the party you're buying the tractor from or you can't see the tractor in person my advice is don't do it.

I will be looking at the tractor in person, just probably will not be there when it is getting picked up for transportation.

 

[mbu]

If you don't know the party you're buying the tractor from or you can't see the tractor in person my advice is don't do it.

 

[SDT]

I'm planning on purchasing a tractor from a private party in the 12-15K range. What is the best way to handle the financial end of the transaction since it's probably going to be a long distance purchase and I will not be present when it gets picked up. About 5 years ago I was handling the sale of a mid range excavator and the buyer wired the money directly to the bank then made arrangements to have it picked up. I'm thinking along the same lines.

I once sold a NH tractor to a buyer 1,500+ miles away. Buyer financed it and loan company sent representative to verify condition, serial numbers, etc. Funds were wired to my bank before pick up. Buyer arranged pick up.

That said, I would, I would never buy anything this way.

SDT

 

[fruitcakesa]

I passed on a used tractor that was 6 hrs away even though the price was 5k lower than any other machine I was looking at.
Just too many potential issues that could only be verified in person.

 

[Creature Meadow]

I am not much of a risk taker and when I do it is calculated. I weigh the pros and cons best case worse case then I make my decision and stand by it good or bad in the end.

I was lucky, saved for 5 years to buy used and found one about 10 minutes from my house. Test drove it, went back with my uncle test drove again and looked it over. Agreed on a price, pick up day, drafted bill of sale, and 3 days after last test drive picked it up.

I could not make a 10K to 15K purchase without test drive and being there when the deal is made.

Just me like I said not much of a risk taker.

Have 2 friends that bought used cars from the west coast and had them delivered to NC without ever seeing them in person. One deal worked out great the other not so.

Good luck in your decision.

 

[shootem604]

I prefer to deal cash. Once or twice I have had a trusted friend verify the item and hand over the cash to the seller. Long distance is a recipe to get scammed.

 

[shiraz627]

I have personally looked at every tractor myself. I would never purchase anything preowned sight unseen.

 

[SDT]

I have personally looked at every tractor myself. I would never purchase anything preowned sight unseen.

If you are set upon buying this way, the seller will tell you how to make the transaction.

I would expect that the seller will require a wire transfer.

SDT

 

[D2Cat]

However you make the transaction I would be sure to have a bill of sale with the tractor model #, serial #, engine number off of the block by the injection pump, and any other details included, with pictures if possible. I would have this filled out and faxed to me before I transferred any funds.

Then how are you transporting it to your location? If you're hiring someone you don't know and used before, you need something to secure the load is going to you not Mexico!

I've used U-Ship with good luck. You do have some protection thru them. Or perhaps the seller knows someone he can recommend. Best is if you have someone you know and trust to represent you in delivery.