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Paying for Purchases from Machinery Exchange3/17
Looking for feedback and suggestions. I'm looking to purchase a machine listed on the Machinery Exchange, but have strong reservations about paying the requested way. Credit card is apparently not an option in this case. I'd like to use a form of payment that affords me some protection but still gets the seller their money in a timely manner. Wondering how others have paid for their purchases. I'm eager to get this done, but don't like making myself financially vulnerable. Thanks all.
Go buy it in person and pay cash. Protection is your fist.
I have never used the Machinery Exchange, so please pardon the beginner questions.
What is the "requested way"? Is there a standard method suggested by WoodWeb? Or, is this particular seller requesting something specific that seems risky to the buyer?
What is a safe method for payment?
Jake, the machine is 1000's of miles away and with our work load there is no way I can take that much time off to go in person.
Charles, the sellers requested form of payment is essentially cash up front before shipping, which isn't unreasonable, except that it leaves me know recourse if, for example, they decided they are just to busy to bother loading it on a truck and there it sat. As far as I know, Woodweb does not get involved in these transactions in any way.
How about requesting the seller to send you a PayPal invoice? I know they'll cry crocodile tears about not being able to afford the 3% commission, but they sold the machine for free. If they auctioned it off they'd pay 15% to the auctioneer.
It has been quite a few years. But I have used my banker in the past. I had my banker talk to the sellers bank. When the machine was loaded the money was released.
"Jake, the machine is 1000's of miles away and with our work load there is no way I can take that much time off to go in person."
Then I say it's not worth buying. Every machine (bar one) that I have bought sight unseen has been a disaster. I will never buy another used machine* without seeing it operational in person.
I'm not talking about a $2k upcut saw from a dealer I've used in the past, but a $30k+ moulder or ripsaw from someone I've never met.
We have done wire transfers through the bank a few times, or Paypal seems a secure way as well.
But as the previous poster said, go look at the machine in person. A plane ticket and a rental car can be way cheaper than what it might cost you to fix it...