I am selling my old Corolla. Someone has offered to buy it and have it shipped.
They said that they would PayPal me a deposit and then PayPal the rest the day the shipper comes to get it.
As long as I have the money in my PayPal account before the car leaves my property do I still have risk of them coming back to PayPal to try to get the money back?
yep, as long as its in your Paypal account or the bank account linked to PayPal they can come back after it. I have an account just for PayPal and as soon as the money transfers from PP to that account I move it out to a non linked account.
I'd go with a wire transfer instead, much more secure.
Nope all the nopes. Cash or nothing. I ask for nudies to prove they're a real person. That gets rid of them quick.
I've sold three or four cars over eBay Motors in the past ~15 years and did PayPal for a couple of them, amazingly it worked out fine, I'm much less trustful of PayPal now than I used to be.
These days I think putting down a deposit via PayPal is considered "standard" due to the immediacy but a cashier's check or wire transfer is how the deal should be closed.
Cash is impractical when you get into the five figure regions and recent civil asset forfeiture trends make me nervous to carry a whole lot of it around anyway.
I would do it only as friends and family payments with those terms (cannot ask for refund), once those milestones are hit.
My take - and I haven't sold a vehicle on the 'Bay for a while - is that I'm OK taking a non-refundable deposit via PayPal, but the balance has to be either cash or wire transfer.
In reply to pointofdeparture :
Cashiers checks are trivial to forge. Unless you're getting it at the bank I would not accept one.
In reply to Somebeach (Forum Supporter) :
If your buyer balks at a wire transfer you will then know that he is scammy. There may be a fee associated for him to transfer. Maybe even ass high as $25. If that becomes a sticking point, offer to take that fee amount off the sale price. It's a little to pay to be sure you "really" get paid.
Somebeach (Forum Supporter) said:They said that they would PayPal me a deposit and then PayPal the rest the day the shipper comes to get it.
If your buyer plans to send you extra dollars so that you can pay the truck driver...surely a scam.
He sends you $2000 for car and $1,000 for shipping via Paypal. Then there will be some sort of mix up with shipping and "buyer" will reverse the sale with Paypal and recover $3000 of your real dollars that he paid with via a stolen credit card.
Somebeach (Forum Supporter) said:They said that they would PayPal me a deposit and then PayPal the rest the day the shipper comes to get it.
Also scammy...Why cant he pay for the whole car now and then you take the car off the market now? Why do you have to wait for your money based on some arbitrary date that a truck will show up? Off the market equals paid in full.
dculberson said:In reply to pointofdeparture :
Cashiers checks are trivial to forge. Unless you're getting it at the bank I would not accept one.
This, with sprinkles on top.
You'll need to log in to post.
