Deposit on Car via PayPal

[KillerHERTZ]

Got a buyer for my CLK who wishes to pay a deposit via PayPal, anything wrong with doing this instead of Bank Transfer?

I can see its safer for the buyer, but myself? eg: funds can be retracted at a later stage.

Cheers!

 

[TonyC75]

As a seller don't you incur charges when using paypal??

TC

 

[KillerHERTZ]

It just be a transfer for the deposit, not the full amount.

 

[mymini007]

Get him to send it as a gift or, you will be liable for charges as stated, but he may not be happy with that situation as i think he has no come back if you back out or vanish

 

[The _Don]

You could take a small deposit via paypal if they insist, then get them to pay the full amount via cash/transfer upon collection, then refund the PayPal deposit before they leave that would be a much safer option.

Personally I would avoid paypal.

 

[NOMONEYBUTAMERC]

Never had a problem with either buying or selling via paypal, but would suggest you take a minimal (say £50 deposit?) with balance of cash on collection.worst case scenario you stand to lose max £50 + paypal fee which will be minimal.you can always ask the buyer for i.d. when you fill in the log book on completion of sale.

 

[KillerHERTZ]

Cheers guys!

 

[Spinal]

If they are legitimate, they have no comeback by using paypal (car sales are not included in buyer protection)

If they are fraudulent, the funds can bounce at a later date...

Seems like a lose-lose to me... I would go with the don's suggestion, and process the refund in front of they buyer and ask them for cash...
M.

 

[Borys]

Friend of mine sold car through eBay, getting paid fully via paypal....car collected, money gone the same day
Be careful

 

[blue gnome123]

Yep paypal and cars just screams something dodgy. I'd ask for bank transfer or that funny paper stuff with the queens picture on it.

 

[Howard]

PayPal might be useful if he doesn't have the actual cash to buy the car.

PayPal can be linked to people's credit cards , so it's a useful way using your card in a transaction where the seller might not have the facility to accept them ( do you take cards Karl ? )

 

[blue gnome123]

As pointed out before - paypal can be reversed even after a sale and there is specifically no protection for car transactions. If they are serious/genuine buyers then they will find another way to purchase.

 

[KillerHERTZ]

Cheers,

This was only for a small deposit - not the actual payment.

 

[Dieselman]

I would take a small deposit, but would still prefer a BACS payment.

 

[guyvert1]

In past I've asked for their ebay id as most have one if paypal. The more info you have on them the better you can judge.

 

[bing]

Scammers usually suggest paypal, so be careful !

 

[MWCLS]

When I sold my last car, I took a £500.00 deposit via paypal and the balance was paid in cash, although i sold the car through a car forum and we were both established members so I guess the trust was there!

Normally I wouldn't use paypal for larger amts, but £50 is hardly make or break!

 

[V12]

I would insist on BACS myself.

 

[WG M-B]

I do not use PayPal for anything. Nothing pally about it when things go ****!!!!!

 

[HB]

Karl . PayPal does not cover any mishaps when selling cars. Get a bank transfer.