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Old 10-05-2010, 11:17 AM   #21
BulldawgMusclecars
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Default Re: Is it safe to receive paypal payment for a truck for sale?

For something like a vehicle, I would accept some "earnest money" from Paypal, but the transcation costs are too high to run a lot of money through there. The last vehicle I sold, I got a $500 deposit through PayPal and the rest was done by wire transfer. Once I received the transfer, the buyer sent a transport to pick it up. You can't reverse a wire transfer, so its by far the safest way to go. Much safer than anything, really, since there is no possiblility of counterfeit bills, MOs, or cashier checks.
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Old 10-05-2010, 11:23 AM   #22
Von Rigg Fink
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Default Re: Is it safe to receive paypal payment for a truck for sale?

its an Oxy Moron..Pay pal....not yer "pal"..

I had a merchant acct. with these theifs..i cant wait until they screw up and get investigated by the feds..
or everyone in this world that uses them brightens up and sends them packing
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Last edited by Von Rigg Fink; 10-05-2010 at 01:35 PM.
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Old 10-05-2010, 11:28 AM   #23
Truckedup
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Default Re: Is it safe to receive paypal payment for a truck for sale?

Quote:
Paypal charges 3% and bank transfers can take a while..I think if they send it as a gift there is no charge.
Yes,send it as "personal" with Paypal and there are no charges to either party.I have done if for a vehicle and recently here on the Hamb when buying an part from a guy.This won't work if it's an Ebay item.And yes,Paypal backed by a credit card is subject to the same rules as a credit card.
Money wire transfer? That costs money to the sender,takes half a day but is safe for the guy getting the money
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Old 10-05-2010, 11:44 AM   #24
FritzJr
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Default Re: Is it safe to receive paypal payment for a truck for sale?

I have done many transactions through PayPal with good results on small amounts. I will never again use them for large amounts. I once did a transaction for over $10K that turned into a real problem. Since this transaction was larger than normal, PayPal decided it was unusual and locked up the money. It took a couple of weeks before they would release it back to me. In the meantime, I had to cover the transaction with another $10K through a wire transfer.
I was not a happy camper.
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Old 10-05-2010, 11:57 AM   #25
TMunster
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Default Re: Is it safe to receive paypal payment for a truck for sale?

i have used paypal many times..but only when recieving/sending money. anything of higher value i would suggest bank trans. also
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Old 10-05-2010, 12:42 PM   #26
brad chevy
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Default Re: Is it safe to receive paypal payment for a truck for sale?

Have him go to his bank and transfer funds to your bank and let your bank know whats going on,PayPal has a policy of the buyer is always right,don"t lose your vehicle and your money to ,PayPal,E-bay and Western Union are all just hotspots for scammers and crooks. There is a fake E-bay and Fake PayPal site on the internet so how secure is that.U.S Postal money order,cash,or bank transfer is the only way to go and keep your vehicle until you have cash in hand ,not in a bank account.
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Old 10-05-2010, 12:55 PM   #27
isettajohn
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Default Re: Is it safe to receive paypal payment for a truck for sale?

I wouldn't ever accept Paypal for a vehicle and it sends a red flag to me. You can always dispute that something isn't as advertised when you get it, and with Paypal they usually decide on the buyers behalf. Don't ever do it with something you can't afford to lose. This is the time of year ALL the scammers come out of the woodwork for free holiday money. I just went thru this with a good friend of mine this week. Someone in Canada responded to his ad wanting to buy his vehicle with Paypal. He doesn't have a Paypal account and wasn't interested in starting one for this sale. I told my friend to get a direct bank transfer only and if the guy was legit he should accept those terms. The guy insisted Paypal only. Scammer!!! Anyone accepting full payment with Paypal is a fool!
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Old 10-05-2010, 01:05 PM   #28
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Default Re: Is it safe to receive paypal payment for a truck for sale?

We use PayPal as the credit card transaction handler in our business. PayPal, like credit card companies have policies that allow disputes to be handled. For a merchant, like us, it is a valuable process for fairness on both sides, albeit it can be painful and sometimes not to our liking. However, I would never use PayPal when selling a car.

A small deposit, using PayPal is understandable to seal the deal but take the bulk in a wire transfer or cash. If paid by a check, allow one week to clear before releasing the vehicle or paperwork. A lot of bad scam artist play the "official bank check" game.

IMHO
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Old 10-05-2010, 01:10 PM   #29
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Default Re: Is it safe to receive paypal payment for a truck for sale?

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Originally Posted by Royalshifter View Post
Three business days and the money is yours....just wait until it clears. I have been using Paypal for years and no problem. I don't understand why some have such a challenge and no offense to anyone particular.$.02

I agree with Royalshifter. I have been using them for over 10 years and several hundred transactions and NEVER had a problem! Just don't give him anything until till the money clears your bank. As far as the 3% goes, just tack it onto the sale. Those horror stories people talk about usally leave out some important facts, such as the item was mis-represented in the first place! That is my opinion and you know what they say about opinions....
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Old 10-05-2010, 01:13 PM   #30
55 dude
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Default Re: Is it safe to receive paypal payment for a truck for sale?

why would you accept payments for your vehicle from a stranger or worse from somebody that has "hollow word" possibly? your setting yourself up for possible huge headaches. i won't let one ever leave again on any type of credit as i seem to bring the flakes out of the woodwork. have the buyer borrow the money from somebody they know and then your done. huge red flags!
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Old 10-05-2010, 01:21 PM   #31
Hotrod7
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Default Re: Is it safe to receive paypal payment for a truck for sale?

Paypal....bunch of CROOKS and unsafe to use. I've been burned plenty of times, never on a car though.
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Old 10-05-2010, 01:46 PM   #32
Leevon
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Default Re: Is it safe to receive paypal payment for a truck for sale?

Get a wire transfer or cashiers check. Don't use paypal as a "gift" you lose your protection so what is the point? I always have the check clear then deliver. One time I got a cashiers check but delivered before it cleared that was only after calling the guy's loan officer and confirming it was legit, held onto the title until it cleared too.

If the buyer is trustworthy they will trust you as well. If they have a bill of sale and copy of the title they shouldn't have a problem going through the bank and waiting a bit.
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Old 10-05-2010, 01:51 PM   #33
49ratfink
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Default Re: Is it safe to receive paypal payment for a truck for sale?

when using paypal you have to go in understanding you may well lose both your item and your money.

other than that minor flaw it is perfectly safe.

never accept payscam for more than you are willing to lose.
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Old 10-12-2010, 10:25 PM   #34
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Default Re: Is it safe to receive paypal payment for a truck for sale?

paypal ir GREAT for buyer, SUCKS for seller...
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Old 10-12-2010, 10:37 PM   #35
plodge55aqua
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Default Re: Is it safe to receive paypal payment for a truck for sale?

I would say yes to a Deposit... No to a Full payment..Reason,,,, There is a part in pp that says ( I did not Endorse this payment) . . To many flaws in PPs deal... also the amount you would lose is alot just in fees..Besides,,, PP can retract a payment at any time... theres No Time frame.... a Bank transfer is the way to go... dont give to pp what they Did Not work for..
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