Payments

Payment questions and options

Payments

Postby Admin » Wed Apr 20, 2011 10:14 am

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You have three business days to pay for your unit. Each day after 3 days is subject to a 5% per day late fee for each outstanding unit.

You can pay for your unit using cash (only for units at the Minnesota location) or wire transfer. Wire instructions are available through a link on your confirmation email, or on the FAQ page (see the FAQ titled: How do I wire money to pay for the unit I just purchased).

Simply print out those instructions to take into your bank, tell them the amount to wire and you're done! Wires typically take 24 to 48 hours to process from one account to the other. They are not instantaneous transactions.

Wires originating from outside the United States need an additional $25 fee be added on. The $25 fee is in addition to any fees your bank may charge you to process the wire.

All payments must be made to the Minnesota location.

We do not accept personal checks or business checks as methods of payment. All payments must be sent to the Minnesota location. All other locations are pick-up locations and do not handle payments or titles.

Our National Headquarters is located at:
Midwest Recreational Clearinghouse
9200 Hudson Blvd North
Lake Elmo, MN 55042
(651) 291-2390

CrankyApe.com is also an Approved Auction for Automotive Finance Corporation (AFC). We will accept payments on your behalf from AFC drawn against the credit account you have established with this lender.
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Re: Payments

Postby spongebobsmearpants » Wed Apr 27, 2011 4:33 pm

i talked to my banks and they said that it takes 5-7 business days for someone to receive a wire. wiil this worlk for payment?
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Re: Payments

Postby Cheesecurd » Thu Apr 28, 2011 10:38 am

I did a wire once and was told the same thing, but it was at the receiving bank by the next day. I think banks may say that to cover themselves time-wise, in case something happens. You can also ask for an electronic print out (receipt-type thing) when you do the wire to verify the amount and correct #'s, etc. I would guess that would work until the money hits the other account. I thought the process was easier than getting/carrying around a certified I have to worry about losing/sending. Hope that helps.
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Re: Payments

Postby Grizwalds » Fri Apr 29, 2011 12:17 am

5% per day??? On a 50,000 purchase, that is $2500 per day!?!?!? or $75,000 per month?!?!?! Is that a typo? I would assume that someone who can't pay right away would be forced to walk away. I know with auctions, you have better be ready to pony up, but 5%? Really?
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Re: Payments

Postby CrankyApeWI » Fri Apr 29, 2011 6:02 am

If we give an inch, they will take a mile. It should never have to come to this, right??
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Re: Payments

Postby thecrow32 » Wed May 11, 2011 8:10 am

I have read the initial post as well as the FAQ. My bank will not wire funds for a loan. My only option is a check issued by them that has to be signed by myself and the "dealer". Are there allowances for this type of payment?
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Re: Payments

Postby CrankyApeWI » Wed May 11, 2011 8:38 am

thecrow32 wrote:I have read the initial post as well as the FAQ. My bank will not wire funds for a loan. My only option is a check issued by them that has to be signed by myself and the "dealer". Are there allowances for this type of payment?


Yes! As long as it's a certified check and is received at the corporate office in Minnesota within the 3 business days, that will be accepted. Unfortunately we cannot accept personal or business checks. Thank you!
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Re: Payments

Postby f150lariat05 » Wed May 11, 2011 11:15 am

i had a question before i post a bid now is the transaction fee for $300 everytime you bid or a fee the the winner of the bid pays on the final price im assuming that we wouldnt have to pay to place a bid but i wouldnt be surprised if you do
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Re: Payments

Postby CrankyApeWI » Wed May 11, 2011 12:49 pm

f150lariat05 wrote:i had a question before i post a bid now is the transaction fee for $300 everytime you bid or a fee the the winner of the bid pays on the final price im assuming that we wouldnt have to pay to place a bid but i wouldnt be surprised if you do


Transaction Fee is added on top of the winning bid and only paid once per unit. We do not charge you every time you place a bid.
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Re: Payments

Postby Grizwalds » Wed May 11, 2011 1:16 pm

thecrow32 wrote:I have read the initial post as well as the FAQ. My bank will not wire funds for a loan. My only option is a check issued by them that has to be signed by myself and the "dealer". Are there allowances for this type of payment?


In my opinion, that would be pretty scary to do it that way. Banks do not care if you are under some sort of deadline. More than likely, they would want an inspection, verification of VIN etc., If they delay just a day or two, you could be subject to the "Apes" 5% per day fee. Could be even worse if you are buying a high dollar RV. Just my 2 cents. Auctions are pretty much cash only. You had better be able to fork over the money as soon as you win the bid. If you are counting on a bank to fund quickly, you might be very disappointed and out quite a bit of money. Banks just don't care.
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