Paypal

Discussion in 'OT (OFF Topic) Forums' started by Stuart O, Nov 4, 2008.

  1. Stuart O

    Stuart O Hardcore MB Enthusiast

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    HI,

    anyone used PAYPAL when selling a car ? I have an interested party interested in wifes car from Wales ( I am in N Scotland ) he wants to pay using this method - approx 4K , is it safe for these amounts ?

    Cheers

    Stuart
     
  2. fatherpierre

    fatherpierre Hardcore MB Enthusiast

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    You'll get HAMMERED for fees.

    I wouldn't accept it for that sort of amount. Had experience of the charge-back and paypal's zero help on the matter.
     
  3. CRS

    CRS Active Member

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    I haven't used paypal selling a car but it'll cost a lot in fees to get the money out I imagine
     
  4. LoTu5

    LoTu5 Active Member

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    I've been hearing about charge-back a lot recently, seems to be a common scam. I'd be looking for a cash deal with maybe a very small deposit via paypal.
     
  5. Mudster

    Mudster Hardcore MB Enthusiast

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    Don't use paypal, take a deposit maybe, but not the full amount.

    It's likely He want's to use this to pay by credit card.
     
  6. Gareth

    Gareth Hardcore MB Enthusiast

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    agreed, DO NOT accept payment for a car using paypal.
     
  7. fatherpierre

    fatherpierre Hardcore MB Enthusiast

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    Paypal cover you if there is proof of postage for items (usually).

    You aren't posting the car and would struggle to prove you sold it to him. Paypal is the world's largest facilitator of fraud and they have an appalling record for cutomer service and helping out defrauded people.
     
  8. franey

    franey Hardcore MB Enthusiast

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    an alternative would be to use 'nochex' where for a smaller fee the buyer can pay you by credit or debit card. Once the money has transferred it cannot be taken from you like a paypal chargeback. I believe you can set it up for one off transactions. Google 'nochex'
     
  9. fatherpierre

    fatherpierre Hardcore MB Enthusiast

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    Or direct bank transfer.

    I'd really stay well away from paypal simply due to the fraud potential and the fees you get hit with. They will charge you about £140 in fees.
     
  10. ms500

    ms500 Banned

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    Yes, the fees really stack up for large amounts. I sold a laptop on eBay for about £500 and paypal took about £20 of it in fees.
     
  11. Silestanix

    Silestanix Hardcore MB Enthusiast

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    You'll get murdered for fee's mate...I've sold 3 vehicles on ebay, used Paypal on the first one...NEVER again...!
     
  12. Silestanix

    Silestanix Hardcore MB Enthusiast

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    Oh...and yes, I agree with you mate. I paid for something using paypal (£16)...and a day later, my bank account was empty...!

    I went to the bank, and I'd been a victim of I.D Fraud. Paypal's European H.Q is in Essen, in Germany. Guess where the withdrawal's were on my statement? A bank in Essen...! :mad:
     
  13. SilverSaloon

    SilverSaloon MB Club Veteran

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    ANSWER IS A BIG NO

    DID I SAY IT LOUD ENOUGH!!?? NO!!!!!!!


    Problem is with paypal is that you'll be hit by a huge charge to recieve the payment, and also because its not "postable" - he could collect the car from you and then put a dispute/claim in to say you never posted it.

    Paypal automatically hold the money and then automatically refund him if you cannot proove it.

    PAYMENT UPON COLLECTION ONLY.

    If he says no, then tell him to get lost. Its no hardship to do a bank transfer to your account if he doesnt want to handle £4000 in notes....

    DONT GET INVOLVED WITH PAYPAL for anything where you cannot proove delivery by recorded delivery docket.

    Forget Nochex also as previously mentioned above - they are worse to deal with than paypal and less secure.

    CASH, BANKERS DRAFT or BANK TRANSFER only
     
  14. fatherpierre

    fatherpierre Hardcore MB Enthusiast

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    So, you've got the message - NO PAYPAL :D

    I've had personal and professional dealings with them - all of them bad. I've known people get stung for sums far higher than you are potentially risking and the help they have received has been awful. Paypal tend to treat the person that is being conned as the criminal.

    All they care about is their cut of the money - nothing else.
     
  15. SilverSaloon

    SilverSaloon MB Club Veteran

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    i agree.

    I accidently withdraw £250 into the wrong bank account number (typed in one digit wrong). I checked with the bank and the account number didnt exist, however paypal just kept on asking for the bank statements from the account i wanted to withdraw into (ie the correct number) - i never got anywhere after several months and gave up in the end. The account doesnt exist so PayPal MUST still have the money!

    It was £250 but the hassle and time it was taking to get ANYWHERE with them wasnt worth it!!

    I now only accept paypal for ebay auctions for low amounts and i withdraw it once the balance gets to over £50. I never keep any more than that in as also a few years ago i had almost £1k in it and they "froze" the account and it took me almost 5 months to get it re-activated again. That was fozen because *I* paid for an auction (couple of pound) that turned out to be a dodgy account so they froze mine pending investigation!!! :crazy:
     
  16. crockers

    crockers MB Club Veteran

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    If Cash - be wary of forged notes and you will have to prove to your bank where you got such a wedge from when paying in....May be best if he accompanies you to your bank and you pay it in with him present.

    Bankers Draft / Building SOciety CHeque - again be wary these can be stolen / forgeries. Best bet is to only accept them during the day and phone the paying society to see if the number is genuine. When I sold a car I went with the guy to his Building Society and he got a cheque there for me.

    Bank Transfer - this is what I would want..used to be 3 days hit your account - but I do believe internet banking is now instant. Better for him to arrange a telegraphic transfer over the phone with his bank (£25) and you to then check online or by phone to your bank that the monies are received.

    When it comes to money from someone you don't know ....assume the worst and be pleasantly surprised..

    Good luck
     
  17. fatherpierre

    fatherpierre Hardcore MB Enthusiast

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  18. bigyin1

    bigyin1 Hardcore MB Enthusiast

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    paypal = no.
     
  19. Smiley

    Smiley Hardcore MB Enthusiast

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    Send a recorded delivery letter to ebay - they own paypal 100%. Dont use the on line Q+A system - send the letter recorded delivery state the facts and ask for a refund to your paypal account. Keep copy of letter of course. If no refund then you can take it further. If you can get a written statement from the bank that the account does not exist so much the better. Dont let them get away with your 250 quid; that would almost cover the other wheel bearing (I have just replaced one and am wondering how long the other will last!) :D
     
  20. Spinal

    Spinal Hardcore MB Enthusiast

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    Another NO for paypal...

    What I've done when selling/buying cash is asked the seller buyer to follow this proceedure:
    - meet me at the registered address for the vehicle (that way we are both safe)
    - drive to your bank (in the vehicle you are selling, count this as a test drive if the buyer has insurance)
    - make sure you have alerted the bank beforeha, most banks are quite happy to have you sit down at a table with an account manager or random teller. They will check the cash to ensure it's authentic and deposit it straight into the seller's account. At the same time (at the table) you can fill out the details on the V5 and ask buyer, seller and bank-guy (witness) to sign a receipt or proof-of-sale type thing (a V5 is not a proof of ownership)

    The only vehicles I've bought/sold in another way have been sub-£500 vehicles... and all for cash... (which I checked on a little UV thing)

    M.
     
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