PayPal guru's....help needed soon!
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Hotshot
Joined: Jun 2003
Posts: 12,357
Likes: 4,391
From: SW VA
PayPal guru's....help needed soon!
I am in the process of selling my ATV, and am asking $6k OBO for it. One fellow interested said he'd give me $5700, but only through PayPal.
How easy is it to get scammed through PP? The guy only has 12 posts on the site I'm selling it on, and his "PP only" request (especially for that ammount of money) got some questions going through my mind.
Once the money is in the bank, should I cash-out? I know PP has protection up to $2500 or so, and can get your money back. Say once he gets the bike, he files a fraud thing...can PP take that money back out of my account?
I've never used PP to accept money...so this is all new to me
I kinda need the advice soon...
Thanks in advance!
How easy is it to get scammed through PP? The guy only has 12 posts on the site I'm selling it on, and his "PP only" request (especially for that ammount of money) got some questions going through my mind.
Once the money is in the bank, should I cash-out? I know PP has protection up to $2500 or so, and can get your money back. Say once he gets the bike, he files a fraud thing...can PP take that money back out of my account?
I've never used PP to accept money...so this is all new to me
I kinda need the advice soon...
Thanks in advance!
decadent and depraved
Joined: Jan 2005
Posts: 6,703
Likes: 6
From: Right Behind You
I think Paypal will charge you a certain %...So you wouldn't be getting the whole 5700...
I just looked at my paypal account, and the last time someone payed me through paypal they payed me $250, and paypal charged me 7.55...
Tim
I just looked at my paypal account, and the last time someone payed me through paypal they payed me $250, and paypal charged me 7.55...
Tim
Posting Guru
Joined: Oct 2005
Posts: 1,409
Likes: 1
Tell him to send you a bank check by certified mail. (1) he knows you got it by the receipt that gets returned to him, (2) you know the check is good, and (3) no room to stop payment, nor get charged a % fee like with PayPal.
Former Vendor
Joined: Apr 2008
Posts: 28
Likes: 0
From: Worldwide
Don't do it unless you are shipping it to him. PayPal requires proof of delivery if he says he never recieved the item you have a good chance of losing your money and your ATV. Never accept PayPal for a local pick up.
Posting Guru
Joined: Jun 2007
Posts: 1,724
Likes: 1
From: Butler, IN
Smart advice! Cash talks, BS walks!
Fleet Mechanic
Joined: Apr 2001
Posts: 1,264
Likes: 0
I would pass. A friend of mine, about five years ago, was doing the ebay/Paypal thing. Interestingly enough, selling ATVs, jet skis and parts. He had a guy from a couple towns over tell him that he would buy something, but only if he could use paypal. The guy came and got whatever it was, I think an engine. I don't remember exactly how it all transpired, but the guy ended up getting the payment reversed. He claimed he never received whatever it was that he bought. My friend had no way to show this guy actually took delivery. It was not shipped, so there was no way to prove it.
To me it is too risky on something worth that much.
Edit: I posted this before reading the whole thread and TascaFordParts response. That is basically what happened to my friend.
To me it is too risky on something worth that much.
Edit: I posted this before reading the whole thread and TascaFordParts response. That is basically what happened to my friend.
Thread Starter
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Hotshot
Joined: Jun 2003
Posts: 12,357
Likes: 4,391
From: SW VA
It turns out he wants to use PP so he can use his Credit Card instead of getting a cash advance and being charged a fee. I asked him why he couldn't get a loan from the bank, as the interest rate would probably be lower than a CC.
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Hotshot
Joined: Jan 2002
Posts: 17,988
Likes: 207
From: La La Land
If he lives close enough, you tell him to come pick it up. Bring cash. Nothing else.
If he wants it, he'll do it.
Otherwise, PASS.
Pop
If he wants it, he'll do it.
Otherwise, PASS.
Pop
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Whatever...
Hotshot
Joined: Jan 2002
Posts: 17,988
Likes: 207
From: La La Land
You may be very, very fortunate to have had him back out.
Considering the amount of fraud in today's world, and the fact that he didn't really have the cash (he was going to put it on his credit card), you may have been stung by this one.
A cash buyer will come along. In the meantime, polish it up "real purrrty" so that the next guy (that can afford it) will really WANT it!
And be willing to bring green...
Pop
Considering the amount of fraud in today's world, and the fact that he didn't really have the cash (he was going to put it on his credit card), you may have been stung by this one.
A cash buyer will come along. In the meantime, polish it up "real purrrty" so that the next guy (that can afford it) will really WANT it!
And be willing to bring green...
Pop
Former Vendor
Joined: Apr 2008
Posts: 28
Likes: 0
From: Worldwide
When you pay with PayPal you can go in at any point and file a claim with them (done from within your account). Once a customer files a claim the recipient has a chance to provide proof of delivery (ie tracking number, delivery confirmation etc...) to resolve the claim. If the sender can not prove that they sent the item to you PayPal pulls the funds and gives you a refund. It kind of sucks if you do not read the fine print and then someone scams you.
i ain't rite
Joined: Mar 2005
Posts: 65,601
Likes: 5,629
From: Marlboro Mental Hospital.
for any large item, or an item costing more than $250, i specify either cash, or USPS money order only when picked up.
a certified bank check is too easy to counterfeit.
look at all the scams where people get a certified bank check, cash it, and send some of the money back , only to find out 2-3 months later the "certified check" was counterfeit.
a certified bank check is too easy to counterfeit.
look at all the scams where people get a certified bank check, cash it, and send some of the money back , only to find out 2-3 months later the "certified check" was counterfeit.
Post Fiend
Joined: Jun 2002
Posts: 13,873
Likes: 3
From: Atlanta GA
Good thing he backed out, I think a scam was in the works. Who knows, he may have read this board.
Local sales should be cash only, no checks, no money orders, etc. The only time I have accepted anything other then cash, was having a Walmart money transfer sent to me where I had cash in my hand before I signed the title to the transport person picking it up.
Local sales should be cash only, no checks, no money orders, etc. The only time I have accepted anything other then cash, was having a Walmart money transfer sent to me where I had cash in my hand before I signed the title to the transport person picking it up.
Thread Starter
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Hotshot
Joined: Jun 2003
Posts: 12,357
Likes: 4,391
From: SW VA
Yes, but who carries around nearly $6,000 in cash? I wouldn't feel comfortable with it even for just a couple hours to make a deal.
But either way, I will definately make sure the funds are in my account (and will stay there) before I hand over the goods. PP is now off my list for deals over $100.
But either way, I will definately make sure the funds are in my account (and will stay there) before I hand over the goods. PP is now off my list for deals over $100.