Buying used equipment

[Croft]

Has anyone had experience buying used equipment that is on lease ? looking at a press thats a couple years old but is leased. Not sure whats involved in buying it? Not interested in taking over lease.

Also I'm a Canadian ( don't hold it against me ) coming down to pick it up personally how would you prefer payment? Its a bit too much to comfortably take cash, what other ways would you take payment?

Thanks for any info

[aauusa]

cash is always best but if it is over 10grand make sure you have all bank docs to prove it or you can be in for a rude awakening if you are caught with it.  but I would go with a cashiers check or some other bank type of note which is just as good as cash without the headache.

[scott316]

When we buy used equipment with a lease on it we pay the lease company. If you pay the seller, and he dose not pay off the lease you now own stolen equipment.

[mk162]

with large amounts of money you are better off with a certified check.  talk to your bank about it. 

[Croft]

When we buy used equipment with a lease on it we pay the lease company. If you pay the seller, and he dose not pay off the lease you now own stolen equipment.

Thanks I was thinking this is more what I would want to do.

[islandtees]

with large amounts of money you are better off with a certified check.  talk to your bank about it.

Wire transfer is best. I will not take a certified or bank check.

[mk162]

You can always call the bank to verify it.  I have a problem with wire transfers since every time I've done them you're handing out your bank account number.

[Steve Harpold]

Random side note:
(Your bank account and routing # is on every check
You write)

[islandtees]

You can always call the bank to verify it.  I have a problem with wire transfers since every time I've done them you're handing out your bank account number.

That means nothing. Bank will allow you to take funds on a wire transfer right away when it hits the acct.
Out of state bank check, the bank needs it to clear. You can't just deposit and remove cash on the spot.
Years ago certified and bank checks were like cash. Todays world is to easy to forge.
As mentioned above, check and routing numbers are not hard to get, on every check you write.

[mk162]

Random side note:
(Your bank account and routing # is on every check
You write)

Your exactly right, which is why our bank audits us to make sure we store customers' checks under lock and key after we deposit them.

I still don't get why certified funds are wrong.  It's another way of doing it.  I wouldn't accept a personal check from somebody unless I waited for it to clear...which i have done.  I had a couple come look at our SWF, they wrote me a $17,000 check.  I deposited it and waited for it to clear, they came after that and picked up the machine.  Simple.