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Pay Pal and Selling a Car
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 2012-12-17 9:54 AM |
Veteran  928    Columbus, Ohio |  Subject: Pay Pal and Selling a CarI am selling a car and a perspective buyer who wants to pay via Pay Pal for which I do have an account. He/She is asking for my email address associated with the account so they can pay me. Once paid they will have a courrier pick up the car. I called Pay Pal to ask some questions and they said that once the funds are in my account it is safe to transfer the car to the new owner as there is no way to get the money back once it is in there. I am just a little skeptical. Should I be? What could go wrong with htis transaction once the $$ is in my account? |
| 2012-12-17 10:07 AM in reply to: #4537814 |
Champion 10668 Tacoma, Washington | Subject: RE: Pay Pal and Selling a Car I've heard far too many horror stories of scams around Paypal... I'd wonder why the heck the buyer wants to use it. Obviously they don't have the cash, so, what, are they just going to protest the charge to their credit card? Doesn't smell right to me. I'd pass. |
| 2012-12-17 10:14 AM in reply to: #4537814 |
Master 2504 Southwest Iowa | Subject: RE: Pay Pal and Selling a Car I would pass on the PayPal payment. If they have a large PayPal account, they can move that money to a bank account and get a certified check or cash if they want it that bad, or send you a check that you give to your bank and hold until it has cleared the account and your bank agrees.
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| 2012-12-17 10:24 AM in reply to: #4537814 |
| over a barrier | Subject: RE: Pay Pal and Selling a Car Very careful... There are some horror stories on slowtwitch about ebay & paypal scams. Guy delivers money via paypal and then disputes the charge, get refunded the money and doesn't return bike. The original guy get bounced around paypal (they will always side with the customer sending money it seems) and ebay and can't get the bike back. The only good news, I would think the police would get involved if its a car. Don't they need to be present to sign the title? The fact they do not want to be present at the sale is very very fishy to me. Edited by running2far 2012-12-17 10:25 AM |
| 2012-12-17 10:29 AM in reply to: #4537814 |
Master 1439 Calgary, AB Silver member | Subject: RE: Pay Pal and Selling a Car Yep I wouldn't do it. Also, if he's paypal'ing he's probably using credit card which is shady on a car purchase. When I was selling some expensive stuff, I got the money, moved it to my linked bank account, then transferred it to another bank. THEN I shipped the product. If there had been a scam, I would have had the money, but I still wonder what sort of "lean" or judgement paypal could have done. The linked account was almost empty - but would it have gone to collections? Point is, cars are always cash or bank draft. Deposit by paypal fine, but I want the money in my mitts before the keys leave. |
| 2012-12-17 10:32 AM in reply to: #4537814 |
Veteran 928 Columbus, Ohio | Subject: RE: Pay Pal and Selling a Car Thanks for the input. The buyer is out of state, that is why he/she wouldn't be present. I thought the same thing about immediately transfering the money out of my Pay Pal account and into my bank account. |
| 2012-12-17 11:07 AM in reply to: #4537894 |
| over a barrier | Subject: RE: Pay Pal and Selling a Car jacasa - 2012-12-17 10:32 AM Thanks for the input. The buyer is out of state, that is why he/she wouldn't be present. I thought the same thing about immediately transfering the money out of my Pay Pal account and into my bank account. That just sounds fishy. Anytime I post something on craigslist I get people that are out of state or the country...its just a scam. Offer to drive them the car and see what happens. Say something like you have relatives in the area... Edited by running2far 2012-12-17 11:07 AM |
| 2012-12-17 11:18 AM in reply to: #4537814 |
Master 2538 Albuquerque | Subject: RE: Pay Pal and Selling a Car Yeah, no chance I would do that deal. |
| 2012-12-17 11:24 AM in reply to: #4537814 |
| Subject: RE: Pay Pal and Selling a Car jacasa - 2012-12-17 7:54 AM I am selling a car and a perspective buyer who wants to pay via Pay Pal for which I do have an account. He/She is asking for my email address associated with the account so they can pay me. Once paid they will have a courrier pick up the car. I called Pay Pal to ask some questions and they said that once the funds are in my account it is safe to transfer the car to the new owner as there is no way to get the money back once it is in there. I am just a little skeptical. Should I be? What could go wrong with htis transaction once the $$ is in my account? It's a scam 99% sure. |
| 2012-12-17 11:48 AM in reply to: #4537814 |
Master 1883 San Antone, Texas | Subject: RE: Pay Pal and Selling a Car I wouldn't do it. I hear all too often that Ebay/Paypal always side with the buyer in a dispute, even when there is nothing wrong with the item or the buyer destroyed the item then filed a claim. Also, wouldn't you lose 2.9% or so by going through Paypal? If you are still considering going this route, I would at least charge them the additional fee. I sold a car on Ebay a few years ago, but the guy I sold it to came and looked at it and paid me with a certified check. That's the only way I would do it again. |
| 2012-12-17 3:45 PM in reply to: #4537894 |
Master 1439 Calgary, AB Silver member | Subject: RE: Pay Pal and Selling a Car jacasa - 2012-12-17 9:32 AM Thanks for the input. The buyer is out of state, that is why he/she wouldn't be present. I thought the same thing about immediately transfering the money out of my Pay Pal account and into my bank account. If the bank account is linked to paypal, paypal CAN REACH IN to your bank account and take out what THEY want. You must move it another step. Never ever ever link it to your main/primary account. Also, the one time I bought out of province I got on a plane and went to see it. Can't think of too many people that buy cars sight unseen. Edited by Khyron 2012-12-17 3:46 PM |
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