Advice on selling across the country? Need some feedback, thanks!

  • Almost everyone here knows my beloved blinged out slingshot. I have a legitimate interested party in Kansas, and I am in Massachusetts. I purchased it from a man in Oklahoma and shipped it here so it can work.


    The guy is not a scammer, we have talked extensively. He's been looking specifically for an orange madness. He is very knowledgeable about slingshots.


    He had some interesting title questions. Seems Kansas charges 11% tax on vehicle registrations, wow... He asked me what I thought of him making two purchases - one for the slingshot at say $12,500 then another for the mods at $12,500. That would save him a lot of registration money if I put $12,500 on the title. I will not leave the title blank, I know enough not to do that.


    What does everyone think about doing this? Could it backfire in some way? Technically, he is paying for the mods as I am getting $25,000 for the slingshot, well beyond the stock book value.


    Thanks everyone!

  • At face value, that would not be legal. His tax would be due on 25K. Personally, I understand the logic and HATE tax on tax on tax in your case, but I would be cautious. That said, your risk as seller is more minimal than his or hers. If I knew someone well, I might sell a slinshot without tires/rims for 12.5K. Then sell each tire, rim, and lugnut. I note, this is the reason that Biden is now requiring every electronic transactian (eg paypal or venmo) to be reported above 600.

  • studiopeg this is a multi-part answer. 1st of all, as @mclendons said this would be circumventing the state sales tax laws and I would never recommend or do that. That being said, I have a friend who knows a guy who has done this many times. It is quite common and the key is that both buyer and seller agree on the price that is presented on paper, and the seller is satisfied with the amount of money received. If the price is too low according to the DMV, then they might try to charge the buyer tax on a higher price than reported or send him to the department of revenue to make his case. There is not much risk to you as long as the reported price can be justified.


    Part two has to do with the method of payment. My friend's guy has always done this face-to-face and gives the option of coming with cash, going to his bank and withdrawing cash or getting a cashier's check. If he comes with cash, he will include a recent bank withdrawal slip in the envelope to show the source. If both parties bank at the same bank, an account to account transfer can be made. Wire transfers seem safe but can be manipulated and appear to have been made, then reversed. I'm not smart enough to know the mechanics of this but have been warned multiple times. The only thing I would take a wire for is a deposit to hold, then would insist on cash or cashier's check to complete the deal. You also have to be careful with cashier's checks. I recently started a real estate contract with an individual who is paying me by cashier's check and when I deposited the 1st one the bank put a 7 day hold on it. When I asked why (after all it's cash, right?) I was told that cashier's checks are one of the biggest areas of bank fraud right now. That's why my friend's guy offers to go to his bank with the seller to pull it in his/her presence.


    So my short answer is feel free to work with the buyer on the reported sales price - 11% is a lot - but do not get scammed on the method of payment. I'm not telling you how to do your sale but please DO NOT get scammed on the payment. Be very sure that the form of payment is solid, whatever it is, BEFORE you release the Sling or it's title.


    Congrats on finding a buyer and best of luck to you on life's next adventures!

    Remember folks - this isn't a rehearsal, it's The Show!8)

  • So my short answer is feel free to work with the buyer on the reported sales price - 11% is a lot - but do not get scammed on the method of payment. I'm not telling you how to do your sale but please DO NOT get scammed on the payment. Be very sure that the form of payment is solid, whatever it is, BEFORE you release the Sling or it's title.

    I wasn't aware that bank-to-bank wire transfers could be reversed. At this point I don't think he's going to buy it anyway, he didn't pay attention to the details that there are bedazzle crystals on it. For some guys they like it but for most it presents a problem LOL :)


    Thanks SlingLow!

  • well the deal fell through and now I am being inundated by scammers. There is one long distance seriously interested party but having looked at every option there just does NOT seem to be any 100% safe way to sell long distance. This has become a real PITA.

  • Anyone with the money and interest will be willing to drive to your location to close the deal. If you have title in hand should not be a problem. You can have them send a check ahead of time and bring CASH when they pick up the Slingshot. Another option is have a local dealer sell it for you. When I brought my Slingshot home, I took my Gold Wing to my dealer and he sold it --- He took 10% but handled all the problems.

  • well the deal fell through and now I am being inundated by scammers. There is one long distance seriously interested party but having looked at every option there just does NOT seem to be any 100% safe way to sell long distance. This has become a real PITA.

    Perhaps God just wants you to keep the Slingshot - - He does work in mysterious ways you know 8o

    Cage Free - 2016 Pearl Red SL

    DDM Short Shifter, Sway Bar Mounts Coolant tank Master Cylinder Brace & CAI

    Twist Dynamics Sway Bar, JRI GT Coilovers, Assault Hood Vent

    OEM Double Bubble windshields & various other goodies

  • I sold my Harley to a dealer in town. They gave me a fair price. Not as much as I would have liked do a figure I would take. They handled the paper work and all went smooth. A Slingshot dealer may do the same.

    If the music is to loud you are to old.

  • I sold mine to a guy in California. The logistics were interesting...you have to really trust the person and vice versa. Getting a trustworthy shipper helps too. All in all it's an easy process, get paid, mail off title to new owner, arrange shipping, send it off.

    Sling go bye bye... Starting to think I need to buy another one and start a new project...

  • I sold mine to a guy in California. The logistics were interesting...you have to really trust the person and vice versa. Getting a trustworthy shipper helps too. All in all it's an easy process, get paid, mail off title to new owner, arrange shipping, send it off.

    Are you gonna get another SS? Inquiring minds would like to know?

    Not being nosy just asking for friends!

    Keep Three Wheels Down