What is the best way to be paid for a car from a buyer in Sweden??? Should I pay for the fees if he pays by Pay PAL?
A quick deposit thru PayPal, 1000 bucks so you know he is the real deal. That will cost you 40. The rest thru a wire transfer.
Yep, have them put Deposit in the info on the Paypal thing so it's noted as a deposit and not full payment. If you have a good banker I'd ask your banker what is the best way to get money transferred from the bank were the buyer is to your bank without having to send your account number to the other person. Good bankers on both ends can handle things discretely and make it work without hassles for either of you.
I paid for my Buick via wire transfer as a total amount, but a deposit via paypal sounds reasonable. The seller in Seattle gave me the details where to send the money to. I went to my bank , they sent the money and after a few days the seller gave me the ok . Once the money is in your account there´s no way for someone to recall the transfer. Then I called my shipper who got in touch with him about when the car could be picked up...It´s really easy.
Do not worry about giving out your account number, the bank routing number, etc etc -- you do that every time you write a check. But I would love to know how the buyer can tell his bank where to send the money without knowing the seller's account number -- just for giggles.
The way money is wired is by agreement between all banks worldwide. Strangely the rest of the world uses a new wire system called IBAN (intnl bank I assume). We here in America still use the old SWIFT system. Your buyer will ask for your IBAN number. Your bank will not have one. You have to do two things: Check with your bank to get their SWIFT number and if they do not have one you need to open an account with a bank that does have one. Then inform the buyer of your Bank's name, address and SWIFT number. It's all very easy I do it all the time. If you need more help you are welcome to PM me.
Open an account just for this transfer. After he pays, take all out. That way nobody has that account number. A recently divorced friend just had his ex come back for a few things. One was the new bank info ! He didn't know that untill he found out she paid her $350 cell phone bill with it! Cell phone company just accepted those numbers to pay by phone.
4% on the receiving end, nothing on the senders end. I believe that the deposit thru PayPal is the best. As soon as you agree to do the deal, they press send and in a blink of on eye its in your account. I also think that the "protection for the buyer" who uses PayPal and can dispute payments is offered only through ebay purchases. Could be wrong on that though.
4 % can add up,,I sold my sedan overseas and it cost me less that 30 bucks using my back account. HRP
Bank wire is the safest, I sold one car to Canada and one to Japan. Just make sure you get US dollars...
I sold my 30, 500 pay pal, the wire transfer....easy as pie...took 3 days plus, PAY PAL refunds money WAY TO EASY....I have been screwed by them.....not my bank...
Wire transfer only. PayPal (like a credit card) adds charges you and allows the buyer to contest - holding your money.
I agree Bank Transfer for the bulk of the money is best, but a deposit on paypal is fine, as the buyer can opt to pay the charges, which are only small and the seller pays none. Fact.
I've only bought two cars from the USA and in both cases paid by direct transfer from the bank. The second seller was well versed in the process and didn't hesitate, the first wasn't sure, but after a visit to his bank he was able to supply all the numbers I needed. Both deals went well. Mart.
I've bought two from the states, the first time the guy ran a garage so he took a deposit by credit card over the phone, the second I did on PayPal and I paid the fees. Both balances were then paid by bank wire transfer. And I know you guys can get nervous giving out your account details but believe me, it can be pretty nerve-racking on the other side... sending a bucket load of dollars to a strangers bank account in the hope that they will then send you the car that they say they own!
I would not take Paypal for payment for a car...period. Whats to stop somebody in a foreign country (even this country) from disputing the payment with Paypal....or fraudulently disputing it with his credit card? I believe a payment can be disputed for 45 days or longer....how far can the car be away from you in that time span? Imagine the frustration of the car being in transit or worse yet in another country with the payment being disputed? Wire transfer is the only way to go. I have never had a problem...but its best to be cautious..
I have bougth several cars over the last years in the U.S. and i can agree to most of the things said in this thread. If the seller wants any kind of deposit to see that you are serious, Paypal is the easiset and fastest way to do that (even though they do take their share out of the amount and give the paying side quite a bad exchange rate - therefore only recommended for a very limited amount). The main amount is most easily paid via wire transfer. It is safe, relatively fast (between 5 - 8 business days from Europe) and the exchnge rate is quite close to the official rate and better than Paypal or Credit Card exchnage rates. In order to make a fast and safe transfer the buyer (or his bank) need the address of the recievers bank, the address of the receiver/seller, the account number and the IBAN or SWIFT code (often called Router by U.S. banks). Regadring the charges to be paid for the transaction the sender of the money can choose between split costs (normally chosen) where the sender pays the dues on his end and the receiver on his or the sender can cover all dues (in theory it could also be chosen to charge all dues to the receiver...). An other alternative would be a Cashiers Cheque to be sent from the buyers bank to the sellers bank. I have done this twice in the past because the seller wanted it that way but i can not see any advantages over the wire transfer. It takes longer and the dues are higher and i do not think that there is any increased security for the seller. In general i have noticed that many of potential sellers, especially in the U.S. are inclined to automatically assume a fraud attempt as soon as a potential buyer from overseas contacts them. I do not know if there are really that many frauds or criminals out there or if these reactions are just due to media/internet scare stories. I think the vast majority of people in the old car hobby (especially on this forum, interested in HAMB friendly cars) are pretty decent and the seller does not run any considerable risks if the payment procedures are followed as described above. In my opinion the higher risk is pottnially on the side of the buyer. Normally he sends a considerable amount of money to a person more or less unknown to him in a foreign country for a car he knows only from photos/descriptions and will receive only several weeks after he paid for it. Nevertheless i never had a serious problem with the sellers or the cars i bought and any initial mixed feelings were in most cases cleared after some email or telephone communication prior to completing the deal. If the gut feeling remains doubtful after some detailed communication and questions/answers it might be the best thing to refrain form doing business together, no matter if you are seller or buyer (but that is valid for all car purchases - long distance worldwide or around the corner at home)... Helge
Somewhat surprised to see so many people recommending PayPal. Charges aside be warned that there is a new problem going around right now which can result in you being out of car AND money. The buyer pays you but in some instance does it from a differnet email address than the one they have been corresponding from. You ship the item, typically overseas. The item arrives and a week or so later the 'buyer' contacts PayPal to ask what the charge is as they didn't authorize it. PayPal automatically reverses the payment. The buyer vanishes. I was selling something of value and almost got trapped into this setup. The buyer switching to a different PayPal email address had my warning attena twitching so I called eBay and they let me in on what was going on. From that point on, I will use PayPal ONLY for an initial deposit. I would use a wire transfer or, as someone has already suggested, escrow.com. For the 1% cost you can't beat it. They don't release payment/car until both parties have confirm all is OK. The fact that both parties have to register with them goes some way to being able to prevent selling to a ghost that vanishes too. Oh, and OT but for domestic transactions I no longer accept certified checks either, too easily forged. The problem there being it can take MANY weeks before the bank realizes and reverses the transaction, meanwhile your car is nowhere to be found. Best of luck...
Hi Oldwood. I import a number of cars into Australia each year. Bank to bank wire transfer is the only way i pay for cars, it is a very safe way of making payments. When i make payments to the seller i always add his bank fee which is usually $30.00 to the payment so he is not out of pocket. When the buyer has transfered the payment get him to email you a copy of the transfer so you know it's underway. Once your bank has recieved the funds and have confirmed that they are in your account then let the buyer know it's ok to go.
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