Folks Of Interest PAYPAL SCAM, one different question, not discussed.

ok, I am in BC Canada. a guy, [not at sea] wants to buy my truck, $15,000. he is supposedly in Ontario, Canada..he wants me to send him an invoice through paypal, and he will pay me that way...now there is no way he is getting my truck till all transactions are done....how can he get my truck and his money back.???

 

Cash is king, or whatever you Canadians have up there.

 

get a down payment thru paypal, then cash or wire transfer to your bank, ONLY

 

What chopt31 suggested would be best for you. Get a deposit from him via Paypal and then get the rest of the payment sent to your bank.
I would suggest talking to your banker on how to set it up so it is safe for everyone involved. We can throw ideas around all day long but your banker should know how to make it work safely.

 

I agree with above recommendations. A nominal deposit via Papal is okay, $500 max, balance either cash in hand or wire transferred to your bank.

I sold two vehicles in 2014 long distance, by wire transfer, no problems. One was to Europe. I sold a third car within 500 miles, cash on delivery. You really don't need a deposit if wire transfer of full amount is going to be immediate, only if some time will lapse before wire trasfer is to be made, in my opinion.

In general, I think PayPal is safe, I have used it quite often as both buyer and seller, usually for less than $500. I do think it favors buyers claims if a dispute occurs, though I have never been involved in a dispute so far. Any amount transferred via PayPal is subject to fees, and rightly so in my opinion. But that is another reason to limit amounts transferred and with an agreement about who pays those fees,

Ray

 

the bank can help for sure. Likely will set up a new acct for the transfer which you can kill after the transaction. Do not give out your real working acct number to this buyer.
Just had a deal like this from Germany come across the desk. He was buying a 28k $ car. We set up a separate acct for the transfer. He then says he will send 14k transfer. Wanted us to give him a bill of sale for 14k to avoid the duties and taxes over there and the shipper that he uses will pay us with a bank draft on arrival! We said to have his shipper pay us with the cash they could get from his bank draft to them and we never heard from him ever again! This transaction started in Sept and went on for almost two months with his representative taking a ton of pics on two occasions. You just don't know these days!

 

Wire transfer is the safest way. HRP

 

I've sent and received PayPal invoices before - but not for $15,000.00. You should go to the PayPal site and see for yourself, how (and why) its done. It could be that he wants a form of receipt for the 15 grand.

 

When I was doing ebay stuff using paypal, I would have a separate account just for that. In the event some one tries to scam you by using a bad check (which the bank would take from your pile) simply don't "keep" money in that account. Pain in the neck right. Or don't do business with them. Like the others said, your banker should know how to make it work. If the buyer balks at the bankers requirements..........you know the answer.

 

Paypal absolutely favors the buyer in any dispute, no matter what documentation or pictures.

 

I had a buyer like that once.....he wanted to buy a car (about 6k) via paypal so he could put it on his credit card.....I told him he would have to pay the fees...he opted out after he researched what they would be...

When I sold my willys the guy wired me the money on a Tuesday and the transporter was at my house Thursday...very simple, smooth and safe transaction.

 

I am in Ontario Canada. If I was buying your truck I would fly out and pay you in person. I agree he may just be looking for some sort of receipt. Who know? He could be borrowing the money.
But for 15 grand I would want to come see the truck for sure.


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Open a savings acct and keep the minimum usually $200.00. This will be your acct to use anytime you sell and do a wire transfer through. Remove all the money except the minimum to keep the acct open. Thats what I've done.

 

Or he can pay you in moose. I have found that the more creative the buyer or seller wants to be concerning payment, the less likely the deal is to go down. There's a butt for every seat, and I would keep things VERY simple, or tell the guy to take a hike and wait for another, legitimate buyer. Buying a car, regardless of how far away it is, is pretty simple. The ones who want to complicate the process are usually not to be trusted. As has been said, cash is king.

 

Sent a car to california. He sent me a 500 deposit thru paypal. The rest was wire transfer. Nice part my bank account was never sent to him. My credit union uses a larger bank for wire transfers and then the request was made to them for transfer to my account. Was all done in a day . Slick and safe. Not sure how your bank works . Go talk to a loan officer at your bank.

 

Hi. Unless I am mistaken pay pal will not transfer that much money. I seem to recallthat $5,000 is their limit. Log on to pay pal and ask them.

On a vehicle cash is king. With cash they pay after inspecting it when they come to get it. At that time if they are not satisfied they walk away clean & you still have the car. If they pay & take posession of the car it is a done deal & the car is theirs & money yours.

Scams using pay pal usually involve seller sending money request & buyer sends a fake email supposidly from pay pal showing payment when there is not a payment at pay pal, come get the car rather quickly & are gone. Or other version is they pay with a stolen credit card & it is a month before that charge bounces to pay pal.

From memory for both ebay & pay pal the buyer protetion on vehicles REQUIRES the buyer or an agent inspect the car prior to payment AND the vehicle cannot be more than 10 years old. This means on older cars and on cars not inspected prior to payment their buyer protetion is voided & what you have to be certain on is if the pay pal notification is real or fake and if the credit card used is a good one or not. You are much safer with only acepting $100 bills in cash at time of inspetion and aceptance of the car. This way problems thatarise after they take the car are not your problems.

Good luck, Jim

 

This Man Knows!

 

Have to agree, with any transaction much over $500 a wire transfer is preferable. Not aware of any PayPal scams once you are paid, but as mentioned disputes usually favor the buyer and you'd best look into the fees, especially if he pays with a credit card.

 

Scammer....

 

Wire transfer if you are not comfortable dealing with those sketchy characters from ontario. Myself for distant vehicle purchases I have always sent paypal deposit then completed payment in person. This way in the event I am not happy with the vehicle I am only out the deposit which has never happened. No seller ever balked at my method.

 

DO NOT ever give a fake reciept for less than buyer paid--It will land YOU in big trouble--you will get to meet the guys with crew cuts and sun glasses and badge on the belt--It is STUPID to do this--If you think that is what it will take to close the deal and get you all that $$$ then you have the WRONG buyer--He gets in zero trouble--you get in large trouble. WHY?? For some overseas tax dodger? Keep on trolling--you will find a buyer if you have the right price on the unit--if you are too high then you will not--simple. Why break the law to sell a car?
I sell overseas all the time--Paypal OK for deposits--send Paypal bill that states NO REFUNDS--NON REFUNDABLE DEPOSIT and get the rest bank wire transfer only.
Some notes:
The amount of time it takes to credit your account depends on what country funds are coming from--Germany, Norway and friendly places next day or two--Russia, middle east etc can take a week or more--
Norway, Switzerland, Germany, England, are all easy breezy--South America--forget it! USA HATES Brazil etc and it may take two weeks to get your $$$
I sent an engine to AZ on Paypal--he said engine was not correct color as advertised and they gave him his $$ back--my engine was still in AZ--I had to pay out the ying yang to get it back--I despise Paypal but--it does work for deposits to tie up a deal
Be advised you will be charged fees just to recieve $$ via wire--not big but pesky-and the Tax guys get a notice before you do --so just be honest, get your accountant in on the deal before you sell that $50K car and you can minimize your hit the correct way---fixing that later will cost you--no way around it so do it right / take the bite/ sleep at night--what I say.
Also --many overseas buyers need vin number--this is legit--in Norway they have to run that number and make sure they can drive it when it gets there, etc If it is a shortbed 69 Chevy truck and it is vin'ed as a long bed thus it has been chopped , they CAN'T register or drive it so --don't worry --how in the world can they "take" you car with a vin?? You have to know the game in order to be an international player--usually overseas buyers are good guys--they love cars and they pay out the A$%^& to have and love American cars.

 

The easiest way for him to get your truck and his money back is by saying he never received the truck. Paypal will automatically give him the money back. The burden of proof will be on you. Have documentation that he took possession of the truck. Take a picture of him with the truck, use a shipping company that has documentation and get a shipping receipt. Avoid all this with a cash deal.

 

With both parties in Canada, funds can be transferred from his bank directly to your bank account within 30 minutes. He never sees any of your bank information. You can see the money in you bank account.

Check with your bank regarding using "Electronic Funds Transfer".

This is a safe method as far as the transfer of money goes, backed by the banks in Canada. Only works in Canada. Cost is only a couple of dollars, cheaper than money order and a stamp.

Doesn't help with transfer of ownership or verifying the vehicle is as advertised.

Used this to receive payment for some parts a guy in Quebec needed. Had my money in less than 1/2 hour and parts were in the mail the same day. I liked the quick transfer, he liked the quick shipping as he had a customer that was in a rush.

Canuck

 

Paypal wont accept a picture or even a receipt of takeover,,,,, ask me how I know.

 

thanks all. it does smell fishy and I will be calling paypal in the morn...

 

and PayPal will take a chunk of that 15k.
PayPal deposit and bank wire transfer and a 4 week waiting period after transfer.

 

SCAM! I just went through with a friend of mine who sold his car on ebay and the buyer wanted to pay through PayPal ($40K). He called me and I checked into the whole process. If you goggle this scam (PayPal Scams) you can choose any of several scenarios being used. All this buyer wanted was his bank account numbers and the PayPal screen was a fake. PayPal is O.K. if you are sure about your buyer which is hard to verify through PayPal. If you have a PayPal account don't keep any sizable amounts of money in it. Keep it separate from your business account. I don't sell any amount over $500 on PayPal. Wire transfer through your personalized banker is the only safe way. No one gets your numbers that way.

 

I find it amazing that people still think paypal is some how safe for a seller. it is not even close. never take paypal for more than you are willing to lose to scammers and thieves.

 

Even if this all worked, you would give Paypal about $560.00 for their trouble. And, Paypal will ALWAYS side with the buyer in any dispute and they WILL take the money back until it's settled to the satisfaction of the buyer.

 

Learned that the hard way years ago.