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Need help with how to pay for tractor long distanc

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purplewg

03-14-2005 10:04:29

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I am in the process of buy a tractor out of state and need some advice on the best way to handle it. I want to insure the seller gets paid but at the same time I want to make sure I get a tractor in return. I am having it hauled by someone who has hauled for others on the board here. How do I make sure the buyer and seller are both covered.

How do I make sure the hauler brings it to me rather than than take off with it? Any help is appreciated...

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Big C

03-15-2005 06:26:10

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Just a suggestion...If the tractor is worth that much..just fly out and make the transaction/load it and fly home....sometimes flights are only 200-400 bucks or you could ride back with the driver. Just a thought.

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purplewg

03-15-2005 07:14:15

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Re: Need help with how to pay for tractor long dis in reply to Big C, 03-15-2005 06:26:10

All good suggestions. Actually the seller even suggested that I fly up to make the transaction just to make sure he wasn't a scam.

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Don L C

03-14-2005 19:50:55

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Go to the bank where you do your banking .....tell them they will know how to handle it.....

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purplewg

03-15-2005 03:59:05

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Re: Need help with how to pay for tractor long dis in reply to Don L C, 03-14-2005 19:50:55

Yeah, I have already contacted my bank to see what they recommend. At least if I do a wire transfer to a specific person for a specific s/n trtactor I will have a paper trail. I am sure my bank can check to make sure the sellers account has been there for awhile and not just opened. I suspect they may be able to get other info also. Sound like there is no one way to do it. Each case has it's own issues. I feel good about the seller and I'm feeling better about the hauler knowing he has hauled for some on this board.

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kyhayman

03-14-2005 12:30:04

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

First, I always insure the tractor when I pay for it, before it is loaded. If the trucker steals it, its stolen goods and I'm covered. Often, I will travel with the trucker to the vehicle or tractor (or go by car) to ensure payment is smooth. Have used an attorney (sellers attorney) to escrow money (would probably do that if it is more than $15,000.) Even if it costs me $200, thats cheap insurance. When the driver signs the pick up that releases the funds. There is a certain amount of risk in long distance transactions. One reason they are a little cheaper on average.

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Allan in NE

03-14-2005 12:08:01

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Purplewg,

Here's how I did it the last time around doing it long distance.

I had the trucker go to the guy's place and call me on his cell phone when he was sure there was a tractor there to be loaded.

The seller had already given me his bank account numbers in an earlier phone conversation, so I then at that point talked got him on the phone, told the seller to give me an hour, call his bank to verify and the money would be in his account.

I jumped in the car, ran into town to my bank and wired him the money.

He had his money, they had the tractor loaded and it was out on the Interstate to me before I got home from the bank.

The trouble started the next morning when I laid eyes on the ugly old thing. Pictures don't really tell the whole story. :>(

Allan

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P.F.

03-14-2005 12:06:33

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Best way is to use an ESCROW company (3rd party, bonded etc). There are online escrow companies.

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Mike (WA)

03-14-2005 12:20:00

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Re: Need help with how to pay for tractor long dis in reply to P.F., 03-14-2005 12:06:33

I use escrow companies all the time in my business, but I'd be REAL wary of an "on line escrow company"- in light of all the other hijinks that go on on the internet. Escrow companies need to have a brick and mortar location, where you can contact a real person, send letters, serve papers if they screw up, etc. You never know whether it might just be Ol' Akmed, branching out into other enterprises. . .

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wolfmantractor

03-14-2005 12:05:16

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Just don't mess with that law firm of: Dewey, Cheatum & Howe.

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kraigWY

03-14-2005 11:29:39

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

I hauled several tractors for people, they knew I would bring them the tractor cause I told them I would. I'm old fashion I guess. Any way if in doubt, check the hauler's references.

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purplewg

03-14-2005 11:48:51

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Re: Need help with how to pay for tractor long dis in reply to kraigWY, 03-14-2005 11:29:39

Thanks to all that have replied. I really don't think I have an issue with the hauler. I checked with "cash moline" and he seemed to think Dale is ok. No problems. I just sort of wanted to potect myself just incase. I have talked to the seller several times, he prority mailed a hard picture down to me as he is an old farmer without a PC. He seems honest and my gut feel is that he is. It's just a lot of money to send out assuming I will get something in return....

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RustyFarmall

03-14-2005 10:21:00

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:04:29

Eventually it all has to come down to trust. If you are using a trucker who has hauled for other folks on this board, then apparently he has a good reputation for being honest. There is a forum on this site called "buyer-seller feedback", you can go to that forum and ask questions about the trucker you have hired, or read comments already made by others. I occasionally do some hauling myself, before I would even think about running off with someone elses tractor I would need to believe that the tractor was extremely valuable, enough so that I could sell that tractor and run off to the Bahama's or someplace and hide for the rest of my life. A tractor that is worth a few hundred or even a few thousand just wouldn't be worth it.

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03-14-2005 17:49:22

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Re: Need help with how to pay for tractor long dis in reply to RustyFarmall, 03-14-2005 10:21:00

That trust goes both ways! How do I know or another trucker for that matter know, that tractor or what ever isn`t stolen? RT

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Jay (ND)

03-14-2005 10:49:53

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Re: Need help with how to pay for tractor long dis in reply to RustyFarmall, 03-14-2005 10:21:00

Doesn't Akmed haul tractors?

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RustyFarmall

03-14-2005 11:00:10

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Re: Need help with how to pay for tractor long dis in reply to Jay (ND), 03-14-2005 10:49:53

The last time I talked to Akmed he was in the process of locating some very large tires to fit the Farmall M he had just bought. Seems he had the idea he could just drive that tractor back to Bangmydash.

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purplewg

03-14-2005 10:26:14

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Re: Need help with how to pay for tractor long dis in reply to RustyFarmall, 03-14-2005 10:21:00

Thanks for the reply RustyFarmall. Well lets just saying it is worth more than $15K but less than $20K....I guess I am not as worried about the hauler as just making sure if I send this guy a bank check that the hauler actually takes possession of it. The seller seems to be a real honest guy also but I would just like to potect myself...

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dr.sportster

03-14-2005 12:33:54

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:26:14

If a con man looked and sounded like a con man he would be a very good con man.

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dr.sportster

03-14-2005 12:35:20

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Re: Need help with how to pay for tractor long dis in reply to dr.sportster, 03-14-2005 12:33:54

Oops I mean would not.

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RustyFarmall

03-14-2005 10:36:21

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Re: Need help with how to pay for tractor long dis in reply to purplewg, 03-14-2005 10:26:14

I understand your concerns. I have been on the other end of it, agreed to deliver a tractor, and then found out I was also expected to collect for it. Another time I agreed to go after a brand new piece of machinery, and then was trusted to deliver a very substantial check to the dealer that had that machine. Talk about being nervous, but in both incidents, everything came off without a hitch.

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Harley

03-14-2005 11:41:49

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Re: Need help with how to pay for tractor long dis in reply to RustyFarmall, 03-14-2005 10:36:21

Been there done that Rusty. Been on both ends. Have to have a certain element of trust, tempered by intuition about the partys involved. Cover yourself as best you can, have a LOT of communication and pay atteneion to all conversations and you can get a feel for how people are.

Don't have Indydirtfarmer recommend a hauler for you. I think one of them was Akmed's cousin on his stepmother's side, cousin Al-yer sockserchowin. He had some bad luck with him on something. Later, Harley

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