If you’re thinking about buying or selling a motorcycles out-of-state, but aren’t sure how to go about the payment process, think about using a third-party escrow service like Escrow.com. Escrow.com reduces the risk of fraud by collecting, holding and only dispersing funds when both the Buyer and the Seller are satisfied.
Escrow service fees can range anywhere from 0.89% to 3.25% depending on the value of the purchased item(s). The fee can either be paid by the buyer or seller, or split between both parties. You can calculate the fee amount by using Escrow.com's Fee Calculator
As an example, if you were looking to buy a $12,000 motorcycle and wanted to use Escrow.com, your Escrow.com service fee would be $180.70. The fee can be paid by you, the seller, or split 50/50.
Third-party services like Escrow.com are a trusted way to feel more secure about buying and selling online, especially in case of big ticket items, such as motorcycles. They help you feel more assured that you’re not going to get ripped off or fall victim to a scam artist. If you’ve been looking to buy or sell your motorcycle, but were hesitant because of the payment options, then Escrow.com is the best way to go.You can learn more about the services and security that Escrow.com provides on their corporate website.
Written by: Carrie Anadiotis, Dealer Relations & Social Media at ChopperExchange.com