2 Sweet Posted February 9, 2009 Report Share Posted February 9, 2009 I just talked to a guy from West Virginia on the phone, he agreed to buy my truck, and he says he wants to paypal me the money today and then meet up halfway (Parkersburg area) when we have a chance and he'll take the truck. Should I have any concerns about selling it thru paypal? I'm kinda paranoid about shit like this and I don't wanna get fucked over Quote Link to comment Share on other sites More sharing options...
CRed05 Posted February 9, 2009 Report Share Posted February 9, 2009 There will be a paypal fee...as long as he will cover it, i think you should be ok. Just make sure it all goes through ofcourse. Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted February 9, 2009 Author Report Share Posted February 9, 2009 How much of a fee, and if he sends the money will it go through instantly? Quote Link to comment Share on other sites More sharing options...
Brrcats Posted February 9, 2009 Report Share Posted February 9, 2009 I think the fee is like 2-3%, it should go through decently quick. I think its kind of weird that this guy would buy your car without actually ever seeing it. Quote Link to comment Share on other sites More sharing options...
CRed05 Posted February 9, 2009 Report Share Posted February 9, 2009 I forget how much, but I know its a percentage. Like 2 or 5% i think, sure someone else on here will know. It wont go through instantly, it will transfer from his bank account into your paypal acount, then you can transfer it into your bank account. As soon as you see the money in your account you should be golden. Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted February 9, 2009 Author Report Share Posted February 9, 2009 The guy has seen like 50 pictures, he seems legit. He just wants to do paypal because he can put it on his credit card that way Quote Link to comment Share on other sites More sharing options...
gillbot Posted February 9, 2009 Report Share Posted February 9, 2009 Get a notarized slip that he must sign for proof of delivery. Paypal's protection does NOT cover items picked up or not shipped via normal carrier. Quote Link to comment Share on other sites More sharing options...
Jizzle Juice Posted February 9, 2009 Report Share Posted February 9, 2009 Makes sense. Once u get on your paypal its yours you just have to transfer it to your bank account Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted February 9, 2009 Author Report Share Posted February 9, 2009 Get a notarized slip that he must sign for proof of delivery. Paypal's protection does NOT cover items picked up or not shipped via normal carrier. How would I go about doing this? Just type something up and have him sign it when I drop off the truck? Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted February 9, 2009 Report Share Posted February 9, 2009 Get a notarized slip that he must sign for proof of delivery. Paypal's protection does NOT cover items picked up or not shipped via normal carrier. If u can get it notorized at a bmv out there an get a copy of his drivers license. As well, you can never bee to careful. Better to be safe then sorry , Also makebhim pay the fees as it'll be a shit ton Quote Link to comment Share on other sites More sharing options...
Main3s Posted February 9, 2009 Report Share Posted February 9, 2009 from Paypals website on fees.... Monthly sales Price per transaction $0.00 USD - $3,000.00 USD 2.9% + $0.30 USD $3,000.01 USD - $10,000.00 USD 2.5% + $0.30 USD $10,000.01 USD - $100,000.00 USD 2.2% + $0.30 USD > $100,000.00 USD 1.9% + $0.30 USD Just do the math. if you're not good with %, here http://www.math.com/everyone/calculators/calc_source/percent.htm Just add the fees to the total. Also, I would agree with the signing of the truck upon pick up. And once the funds are in your paypal, transfer them to your bank account. I wouldn’t feel safe until they are out of paypal and in your own account. Hope everything goes well for your, G/L ! Quote Link to comment Share on other sites More sharing options...
FormulaMatt Posted February 9, 2009 Report Share Posted February 9, 2009 Be VERY careful with this. I am still dealing with a jack ass in Texas that got a aluminum spool gun for my snap on welder for free when he was done. He paid with his credit card, I got the money and sent it to my account. About a month later his credit card company issued a charge back. He said he never used his card and his cc company believed him. Paypal didn't care, they then charged me. I refused to pay so they closed my account and sent me to collections, which at that point I went ahead and tool care of it. All of this still happened even though I used paypal, had proof of delivery and even have several emails where he said it was a mistake. Paypal did not care at all. Be very careful and try other means if possible...I would suggest if anything just a small deposit through paypal and the rest in cash. The only recourse I have at this point is to go to Texas for small claims court. Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted February 9, 2009 Author Report Share Posted February 9, 2009 Be VERY careful with this. I am still dealing with a jack ass in Texas that got a aluminum spool gun for my snap on welder for free when he was done. He paid with his credit card, I got the money and sent it to my account. About a month later his credit card company issued a charge back. He said he never used his card and his cc company believed him. Paypal didn't care, they then charged me. I refused to pay so they closed my account and sent me to collections, which at that point I went ahead and tool care of it. All of this still happened even though I used paypal, had proof of delivery and even have several emails where he said it was a mistake. Paypal did not care at all. Be very careful and try other means if possible...I would suggest if anything just a small deposit through paypal and the rest in cash. The only recourse I have at this point is to go to Texas for small claims court. This is EXACTLY what I'm afraid of. Thanks for the info, and good luck man, that blows Quote Link to comment Share on other sites More sharing options...
Aaron Posted February 9, 2009 Report Share Posted February 9, 2009 I would advise against paypal. Unless you form an ebay auction, you ARE NOT protected. The buyer can say that he never authorized the charge. Quote Link to comment Share on other sites More sharing options...
Aaron Posted February 9, 2009 Report Share Posted February 9, 2009 There will be a paypal fee...as long as he will cover it, i think you should be ok. Just make sure it all goes through ofcourse. Not true. He can deny the charge. It happens all the time. Makes sense. Once u get on your paypal its yours you just have to transfer it to your bank account Paypal is NOT a secure money transfer site. There are restrictions. Ebay does offer seller protection though. I would set up an ebay auction if he needs to pay through paypal. And make him pay all fees. Quote Link to comment Share on other sites More sharing options...
FormulaMatt Posted February 9, 2009 Report Share Posted February 9, 2009 This is EXACTLY what I'm afraid of. Thanks for the info, and good luck man, that blows No problem. Just be very careful. Some day I will make it down there. I will get my money one way or another. :bangbang: I would advise against paypal. Unless you form an ebay auction, you ARE NOT protected. The buyer can say that he never authorized the charge. Exactly. Quote Link to comment Share on other sites More sharing options...
CRed05 Posted February 9, 2009 Report Share Posted February 9, 2009 Damn, I never realized how much paypal sucks Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted February 9, 2009 Author Report Share Posted February 9, 2009 So I should create an ebay ad with the price we agreed on as the buy it now and tell him to pay me through there? Thanks for the info everyone Quote Link to comment Share on other sites More sharing options...
87GT Posted February 9, 2009 Report Share Posted February 9, 2009 DON'T USE PAYPAL TO SELL A CAR. Only take a cashier's check from a known bank. That is my opinion. You can get fucked over hardcore with paypal. It is ok for small purchases and selling stuff from ebay but that is it. I've been screwed out of 20 and 30 dollars here and there on stuff I made purchases on my credit card. They never sent me the item. I didn't get my cash back from paypal. I had to cancel the transaction from my credit card company (very easy to do) to get my money. Quote Link to comment Share on other sites More sharing options...
FormulaMatt Posted February 9, 2009 Report Share Posted February 9, 2009 So I should create an ebay ad with the price we agreed on as the buy it now and tell him to pay me through there? Thanks for the info everyone Seriously, I would tell him to bring cash. MAYBE take a deposit through paypal, other than that do it all in person with cash in hand. If he wants to do paypal to put it on his credit card, tell him to send it to a friend of his and have that friend give him the cash. If hes not willing to do that, something is probably up. He may even have honest intentions right now, but say a few weeks down the road something breaks on the truck, even in perfect condition stuff breaks, and he feels like you screwed him...he might start looking at ways to get his money back. If he succeeds, you are really screwed b/c you are out your truck and the money. Quote Link to comment Share on other sites More sharing options...
John Bruh Posted February 9, 2009 Report Share Posted February 9, 2009 CASH, have him put it in your hand!!! meet at a bank so they can verify the bills are legit and swap the keys and title! Quote Link to comment Share on other sites More sharing options...
NOS50 Posted February 9, 2009 Report Share Posted February 9, 2009 CASH, have him put it in your hand!!! meet at a bank so they can verify the bills are legit and swap the keys and title! That's how I like to sell big dollar items.I did sell some differentials from a 4runner to a guy in Washington the State for $500.00 plus freight.We used Paypal but I made some money on freight to make up the charge.He was fine with letting the charges go through and of course he signed for the packages when I shipped them UPS.That was about the limit,money wise,on what I would do in a transaction like that.Everything else in cash in hand.I had a guy ask me if he could make payments one time and I said yes 1 payment of the total amount.He didn't think it was funny but he got the point. Quote Link to comment Share on other sites More sharing options...
hot_wire Posted February 9, 2009 Report Share Posted February 9, 2009 I'd ask for an initial paypal deposit, followed by cash//certified check transaction Quote Link to comment Share on other sites More sharing options...
Sparky Posted February 9, 2009 Report Share Posted February 9, 2009 Seems like a big risk. Cashiers check or go home. Quote Link to comment Share on other sites More sharing options...
yellowsnake Posted February 10, 2009 Report Share Posted February 10, 2009 DONT USE PAYPAL!!!!!! i used them to buy a car and it was a pain in the ass. the guy can get the money from his cc. tell him its cash or money order. and remember that if you dont have the money in ur accounts to cover the ammount the cashiers check is for it will take 3 days to clear... Quote Link to comment Share on other sites More sharing options...
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