Using PayPal to buy a car?
 

Has anyone ever sold their car through paypal? Is it legit? I have someone asking for my PayPal info. Should I reply? Thank you in advance.

Only to take a deposit. Seems like fees, scams and the ability to file a complaint would be major PIA.

MattR

I sold a boat through paypal/ebay. $18,000 or so. It was about 6 years ago. Buyer was in Canada and paid the fees. The fees are less when they are large dollar items.

I won't sell anything high dollar through pay pal because historically their protections have gone one way, in favor of the buyer. It's really easy to file a claim that the thing was not as advertised and the seller gets hosed. At least with a credit cars claim it's investigated fairly. Pay pal just gives the buyer their money back, right out of your bank account if it is linked.

Pay pal and EBay no longer have that tight relationship.

Thank you gents. This potential buyer was telling me he was out if the country in the Army. Does that sound fishy?

Paid for my car through paypal to a pelican member for mine. I sent money as a friend rather than the normal way.. probably a risk that way, but felt comfortable with the guy after talking on the phone. It wasn't requested on his end just hate the fees on pp even if it's on the sellers end :) My guess is no issue with it when they are sending the money to you.

This "I'm in the military and out of the country" is one of the common ploys that online crooks use . . . and as other people have mentioned, the thief pays via Paypal, then opens a dispute soon after in hopes of getting both the goods, and a refund for the goods.

Definitely a SCAM, do NOT give him any info. They won't even attempt to take possession of car, your account will be cleaned and identity stolen. Just Google it.
ONLY except cash in person or bank wire transfer, no other form of payment.

I purchased a waterpumper remotely on Ebay recently using PayPal -- had a mechanic pickup the car -- no issues -- seller happy & buyer happy

They have tried using this scam a few times on me with various motorcycles/cars. What they do is try to acquire your basic Paypal information (nothing compromising, usually a name and email), then create a fake transfer of funds made to look like it came "official from Paypal" via email. They will then claim they sent more funds in excess of the price for whatever made up reason (shipping deposit, accident, found a flaw). After, they ask you to refund the excess or they will call the authorities.

I usually let a scammer run it's course so I can understand the process and relay it to others.

SCAM don't do it

These cars aren't hard to sell. They are fetching outstanding numbers and not hanging around long when priced even close to right. Why bother with the potential pitfall of Paypal?

Good timing. Like Matt said, a buyer can easily do a charge back or dispute the transaction and they side with the buyer. Do not accept PayPal for a car. Too many scammers now.

I had a buyer demand to use Paypal after winning the auction for a car I was selling on Ebay. Auction ended this week. It was clear in the auction that the payments I accepted were wire transfer or cash in person.

They seemed legitimate emailing me all week with relevant questions. Ebay member since 2014 with +81 positive feedback.

The moment the auction ended they claimed their paypal account was locked for a few days and couldn't send the deposit yet. They also started demanding to send the entire payment via PayPal. Their emails ranged from nice to aggressive to insulting. Saying I am suspicious for NOT accepting Paypal.

Long story short I cancelled the transaction and they denied the cancellation on eBay. ebay refunded the final value fees and I move on.

The only thing I would accept is a bank wire transfer.

more info is needed. in my case the buyer came out picked up the car in person but as another member advised, i'd as well ask for bank transfer only or a if its like a BOFA or wellsfargo i'd have them bring a check cash it at the bank and get a cashiers check only if they allow you to cash and transfer it on the spot.

I sold my GT3 and the buyer paid through Paypal. The whole lump upfront.

I shipped it a week later with a car carrier he set up.

I got two texts from two different people. One said he was army out of country. One said he was some IT Leader that couldn't leave at the time. Hmmmmm.

Hiya Folks,

I purchased a very rare RUF utilising PayPal. It was advertised on this good forum and I was based in the Middle East - Pelican and the Seller were really good about it and it was a painless transaction. I made a point of contacting the seller in person and negotiating a deal that we were both agreeable to. The process was simple, honest and efficient, except that I probably got stung on exchange rates - made up for by now with the increase in value of the vehicle. I then had my wife ready to board a plane with power of attorneys to enable transfer of title without issue. This was not necessary in the end as our shipper (Schumachers in Long Beach) handled the transfers and export process with ease.

Since then, the seller has become a very valuable resource and put me onto some very rare finds since.

On the other hand, I attempted to purchase a set of Fuchs Wheels to have a period correct set for the RUF (yes before there were Speedlines, they all wore Fuchs). The seller politely declined to sell the wheels to me as he feared a scam. No worries as we sourced a similar set in Europe for a similar price.

There are genuine international buyers out there. In my case, I make a point of contacting the seller in person and introduce myself so that he is aware that he is dealing with a person. The buyer, if genuine, will make every attempt to verify identification and will attempt to meet requirements to enable an efficient transaction. Proper buyers do not get into protracted transactions with the seller.

Test your buyer and get him to invest the $10 or $20 to conduct a 10 minute telephone call to discuss the vehicle in question. If you do not get a response, then you should rather look for another buyer.

The age old proverb applies - if it is too good to be true, then it most likely is...

Cheers