selling vehicle and accepting paypal

[Lvsdisney]

ETA: We are following DISer advice and not accepting paypal. Thanks!


DH is selling is motorcycle and the person interested wants to pay via PayPal. it's $10k so we're a little apprehensive. I tried to find info online about accepting payment and seller protection, but I'm coming up short.

anyone receive a large sum of money via PayPal before?

 

[PerfessorZ]

I would be very apprehensive about accepting Paypal for such a large purchase. Smells like a scam. If the buyer can come up with $10k in his or her Paypal account, he or she can get a cashier's check for the same amount.

 

[Lvsdisney]

I would be very apprehensive about accepting Paypal for such a large purchase. Smells like a scam. If the buyer can come up with $10k in his or her Paypal account, he or she can get a cashier's check for the same amount.

I was thinking the same thing unless the buyer wanted to use a CC for some reason...

 

[Twilghtsprkle]

No way. Sounds like a scam.

There's no seller protection for it, plain & simple.

Cashier' check only. Even then, I'd be nervous that it was a fake.

 

[Patches Lee]

Any paypal protection doesn't extend to vehicles. Given buyers can go back 60 days and claim a fraudulent charge I'd deny Paypal.

 

[bigbabyblues]

Not happening. I would ask for a cashier's check, meet the person at the bank and deposit it right there while the person was still there (of course, I live in a tiny town where almost everyone uses the same local bank).

 

[Lvsdisney]

Thanks all! We're not going to do that. I figured it wasn't the best plan, but knew the DISers would know best!

 

[tvguy]

Complete the deal at your bank. Cashiers check or cash only.

 

[happily single]

This EXCT thing happened to a friends dad. He was selling his motorcycle. The “buyer” sent him the money “plus shipping”via PayPal. Then they changed their minds and asked the dad to return the money via western union. Which he did! He is out thousands of dollars. And now his son is closely watching his bank account

 

[MillauFr]

I would only accept Bitcoin.

 

[gottalovepluto]

Thanks all! We're not going to do that. I figured it wasn't the best plan, but knew the DISers would know best!

Kudos to you for asking first!!

 

[Klayfish]

This EXCT thing happened to a friends dad. He was selling his motorcycle. The “buyer” sent him the money “plus shipping”via PayPal. Then they changed their minds and asked the dad to return the money via western union. Which he did! He is out thousands of dollars. And now his son is closely watching his bank account

That's a very old scam that's been around a while. I've bought and sold several cars using Paypal, you just need to be able to sniff out a scam. If you're not comfortable with doing it, then definitely walk away.