hey all, i need info about Paypal. here is my problem i have a guy that wants to buy my car but he only can pay by Paypal can i get screwed ??? i heard that some people did and have lossed there car and the money. is this true and what should i do????? thanks. 33, REV 3;20
yeah theyre not 100% safe , the way i see it if a genuine buyer wants your car he will work with you so you can both be happy and safe why would anyone only be able to use paypal
Heres how i've done it in the past, set up a bank account for this 1 transaction only. Have him wire the $$ into your account, let it sit for 10-15 days then transfer the money to your normal account. THEN let them take the car. Paypal will take a chunk of your $$
They can go backwards on PAYPAL. I just had a dispute over an item that was lost and paypal froze the funds. Tell him you want a wire transfer to your bank.Once it hits your account,it can't go back out. I do a lot of brokerage for people and this his typicallly how we do it.
Better still have him bring cash when he comes to pick it up. Pay pal will take about 2% of your money, even if it is a scam.
NO NO NO NO NO NO NO NO. I'll explain. Guy sends you the money via Paypal. He comes and picks the car up and then goes home and files an INR (item not recieved) thorugh Paypal and Paypal comes after you. You MUST be able to prove delivery through online proof to be protected. If you can't, which you can't, he wins. Not to mention, the fee's. NO NO NO NO NO!
even if you emtpy the account and close it they will just leave you in the red if they decide paypal can be good for buying small stuff , but it can turn ugly when things aint going your way
What it sounds like what they are trying to do is put the purchase on a credit card. If they have it linked to their bank account they can have the funds transfered in 2-3 business days. Then they can cash it out as well. I do it all the time. I have used PayPal for deposits on cars but never for full transactions.
Guys, I'm not sure the whole 'have him wire money into your account' thing works either. Yes, that's a lot better for the seller, and I know that's who we're trying to help here. But as a legitimate buyer, if he was on this site and said "hey, I want to buy this car but the buyer will only sell if I wire money directly into his account or send Western Union", I'd be here saying 'scam alert!!!'. So stockcar33, if the buyer is willing to wire money into your account, or send a check and have it held 'till it clears, or whatever, then that's great and, as a legitmate seller, I'd say go for it. But as a good buyer, I personally would walk away from a deal where I couldn't at the very least send a check. Now the PayPal thing, you'd need to go to their site to check out the details (which I recommend you do) but I think that they only take fees if the buyer pays by credit card. Otherwise, there may be some transfer fees (I'm not sure) but they shouldn't be any more than the $35 bucks it costs to wire either. Basically, my understanding is that PayPal is like using an escrow account. It's a way that both the buyer and the seller can be protected in the event that either party feels as though they've been wronged. As such, it is a compromise in that the buyer can complain to PayPal that you didn't live up to your end of the deal, but also that the seller can send you their money (though PayPal) and you know it's there without waiting for a check to clear. Anyway, good luck man!
My last 2 cents on this one. I just bought a '55 Fairlane in April. I ended up purchasing it from a dealer in Missouri. Even though I tried, in the end it just wasn't feasible for me to make the trip from Syracuse, NY to the middle of nowhere, MO. So the whole 'bring a check so both the buyer and seller are happy' option went out the window. Is that the best way to do these sorts of things? Hell yes! But no always feasible. Now, before I found the new love of my life Fairlane, I had pretty much decided that if I was buying from a private party, the only way I was going to do it was A) through PayPal or B) a check and a handshake. Why? Because PayPayl is a form of protection that you loose when you simply can't have a face to face. I have to wonder....with a car I bet there is a way for a seller to prove delivery without the whole electronic/on-line form of proof of delivery. I think that's only necessary for items that can be FedEx'd or USPS or something. Wvenfield is right about that, but again, PayPal also has actual offices with people, and I believe that if a person on a car transaction tries to lie and say they never took delivery, then there is recourse. It's not a cut and dry as 'buyer says so, therefore they get their money back'. Again, I'm just not sure, but I'd at least check into it. If you've had telephone conversations with this guy and he seems standup so far, then giving a call direclty to PayPal customer service to find out specifics shouldn't put you back too much time.
Palpal owes me $200 from a loser broad in Cal who sold me a Hallock style windshield' and a page of too bad too sad stories. If you notice there is no phone number or help line anywhere. I found the resolution center to be a catch 22 style joke. Paypal works fine when all is well, it is bullshit when a problem comes up. A postal MO always works for me.
Don't use Paypal in my opinion they are a bunch of crooks. The uses a credit card to paypal who then pays you. Then he stops paymeny on his credit card company, so then Paypal takes their money back. He has the car and his money. Have him send you certified funds and wait for it to clear the bank. Certified funds are not guaranteed either.
screw that..PP it's BS.. i smell a bad deal or an outright scam. Pictures of dead presidents on wrinkly old green paper..thats a good sale in my book , but than im old school when it comes to this kinda shit., and i dont like paper trails, credit card pay pal and wire transfers can come back to bite you..or create a tax situation in some cases my view on this is..there are fucking banks on just about every street corner..have him go write his check to them , and bring you the cashola..end of story and problem.. And its a hell of a way to call out a scamers bluff. I had a gal come all the way from Texas to Michigan to buy something from me..guess what she did..she went to the bank on Monday (in Michigan less than 1/2 mile from my house) and when i got home from work she counted out CASH!
Of course there is a recourse. You can file charges and chase them around the country and hope that the authorities take the charges serious enough. Those you get on the phone are minimum wage flunky's that don't know crap.
hey all, thanks to all the info i am selling the car for cash to a new guy. the other guy did not want to do it my way so the saying go,s my way or the highway THANKS TO ALL JOHN 3;16
Well, in the 2 seconds it took for me to go to paypal.com and look around their site, I'd say even if you accept payment via paypal, don't accept if they're using a credit card on their side, as opposed to initiating a wire transfer on their side. Cause if they use a credit card they don't even have to try to file a dispute via PayPal, they can just call their credit card and the card company can file a chargeback and, blah blah blah what's been mentioned above. I'm not a shareholder of eBay (parent of PayPal), so it's not like I'm in love with that company. But, well I'm sorry, but I was just in the buyers boat recently, and I'm just saying that as a buyer you have a lot of anxiety as well about these types of purchases. How far away is this guy? Any chance of a face to face? Also, maybe another HAMB'r would know, but don't trucking comanies handle COD transactions? I know that we've required some customers at my company on occasion to pay via COD (real big investment castings we're talking about), and that UPS can handle that type of transaction. I mean, if a face to face meeting isn't possible, the car must be getting to him somehow, right? I'm not sure if UPS has car delivery, but I'm positive FedEx does. And if UPS can handle COD, maybel FedEx can?? Just some other thoughts.
Paypal blows, had trouble with them years ago I was able to beat them at there own game , now I canot sell on ebay(as you all know there are the same company....duh! this guy dont have the dough ray me ... is he from mn. by any chance we have a guy up here ( stock sucks) is his ebay name, that is always pushin those scams and this guy is good at it , it allows him to be a big shot on some one elses dime
I've never had any problem with paypal myself, But I think you should just call them and see what they think. JC
PayPal is one of the biggest scam artists on the web...Did alot of selling on EBay a few years ago, had a couple of people rip me off with the help of PayPal. So I got wise and started taking all the money out of my PayPal linked account every time it would clear and put in an account in another bank, the last time someone tried to screw me with PayPal's help PayPal was the one who got screwed. If anyone pays you with a credit card via PayPal all they have to do is wait till they get the stuff they bought and call the credit card company and tell them it didnt show up or it was damaged ect, ect. When the transaction goes into dispute or whatever PayPal sides with the credit card company every time no matter what the situation.
I just sold something on ebay, and used paypal to receive payment, and they put a hold on me receiving my funds. (a new policy) They said they can withhold funds for up to 21 days. It took several days after the buyer receive the item, to get my money, plus a few more days for them to transfer it into my bank account. I've bought project cars and used paypal to do it. This sounds like it could be a scam, but not for sure. It's impossible to tell without the possibility of getting burned, and because of that I would pass, like you did. Cash in person is always best if in doubt.
there is absolutly nothing safe about a paypal transaction from a sellers standpoint. nothing. nada . zip
Bump. I was going to ask on that recent parts buying thread but it got closed on Walmart rant. Anyway I'm going to buy a part from someone via paypal (non ebay) and he says use the 'family' option to avoid fees. I'm not savvy, does this eliminate any recourse for me should things turn out badly (lost package, damaged item, never received...). If I pay the extra 3% myself would it be cheap insurance?
The Jalopy Journal
