Vehicle Selling - PayPal?

Siji · Post by **Siji** » August 17, 2005, 3:36 pm

I'm going to be selling my current motorcycle online via eBay and/or CycleTrader and the one thing I'm trying to get more information on is how safe or unsafe it would be to accept PayPal as a payment. The cost will be in the $8k range so it's not something I really want to have to worry about someone disputing a credit card charge on.

Has anyone done a large price sale allowing PP as a payment method, and if so, what precautions can you take to insure not having to worry about the payment?

Thanks in advance

Tenuvil · Post by **Tenuvil** » August 17, 2005, 4:16 pm

PayPal takes a cut of credit card payments. I think it's 3% but may be on a sliding scale based on dollar amount.

Make your terms as ironclad as possible, especially stating the bike is being sold "as is". If you give these chumps a little room to maneuver they'll try to fuck you. Oh if anyone tries the "I'm gonna send you a cashiers check for 5000 more made out to a 3d party and signed over to me, can you wire back the difference?" or varioations thereof, report them to eBay and law enforcement.

The best thing is to sell it face to face and get a wad of cash as payment.

Voronwë · Post by **Voronwë** » August 17, 2005, 4:30 pm

yeah , i think autotrader is a better way to go. i'm not comfortable doing business with dollar amounts that high, not doing it face to face, cash in hand, etc.

Aabidano · Post by **Aabidano** » August 17, 2005, 8:36 pm

PayPal is not a regulated financial service, if you get ripped off you're pretty much screwed. They've had troubles before, revoked payment after delivery, etc.. Anything over $400-ish I wouldn't use them myself, even if they didn't take a cut.

Cash, cashier's or bank check, I'm pretty sure you can call the institution up and verify the check. If not, don't turn over the vehicle until the check clears. Contrary to popular belief, cashiers checks can bounce. It takes the physical delivery time plus a day or two for them to actually clear.

Just sold a boat recently, took 9 days for the check from Bank America to clear. I asked the credit union about it, I was told anything but cash can bounce, MacDill FCU puts a hold on everything.

Phugg_Innay · Post by **Phugg_Innay** » August 17, 2005, 11:17 pm

My mother just got scammed selling a puppy. She wanted $1800 and this "gal" sent her 3 $1000 cashier checks ..... that were bogus. Well she deposited them then the lady either emailed or called her and asked her to wire $1k back via western union. So she did , meanwhile the FAKE cashiers checks were bouncing bigger than T.O's attitude.

Side note , she sold the puppy yesterday in cash $1800 in $50's.

Siji · Post by **Siji** » August 18, 2005, 2:12 am

So pretty much money order or cash.. =/ Was hoping to be able to use PayPal to lure in people with available credit on cards.

Aabidano · Post by **Aabidano** » August 18, 2005, 8:56 am

Siji wrote:So pretty much money order or cash.. =/ Was hoping to be able to use PayPal to lure in people with available credit on cards.

You can, but you're making a gamble.

US Postal money order preferably...

If it's not a local person, have them use the US Postal Service for delivery as well. That way any funny business becomes postal fraud. The US Postal Inspectors are about the only law enforcement group with interstate authority that gives two shits about fraud under $10k.

Good luck getting the FBI or anyone else interested. No one else has authority, most of the rip offs I've heard of have been interstate.

Siji · Post by **Siji** » August 18, 2005, 11:04 am

It'll be a local sale anyway, as I'm not willing to go through the crap of finding out how to ship a vehicle. Unless they come to you and pack it up and send it away.