Paypal

[Lafanter]

So I m selling my car for sure now. I posted an ad yesterday and one guy has responded saying he wants to pay through Paypal. Now I have never used paypal but I do have an account with them for last 3 years.

My question is, are there any risks involved. like why does this person wants to pay with Paypal and he has not even even seen the car etc.

“I will like to make an offer of $**** for your car, pls let me know if you accept my offer, payment for the car will be through paypal and the pick up will be arranged.”

[Xenophanez]

Re: Paypay

There are some paypal scams out there, I would recommend meeting this buyer in person. Personally I wouldn't accept any sizeable payment thru paypal for the reason that some other person could be scammed in process. Think about it, it is possible that he might advertised something else and he may ask interested party to make a payment to YOUR paypal account. The scammed party would make the payment, he would arrange car pick up from you, and this 3rd person won't recieve a thing in return.

So be carefull.

PS: you want me to change thread title to PAYPAL?

[sheyn]

PS: you want me to change thread title to PAYPAL?

Aap zehmat kyoon kerthay hain CM jee , Hum hai na ...:@:

[Lucid_Chaotic]

So I m selling my car for sure now. I posted an ad yesterday and one guy has responded saying he wants to pay through Paypal. Now I have never used paypal but I do have an account with them for last 3 years.

My question is, are there any risks involved. like why does this person wants to pay with Paypal and he has not even even seen the car etc.

"I will like to make an offer of $**** for your car, pls let me know if you accept my offer, payment for the car will be through paypal and the pick up will be arranged."

For starters, in a genuine situation, Paypal gives the buyer peace of mind that if the merchandise being promised by the seller does not meet the specifications that were laid out in the original posting, then the buyer has a recourse in this case. So, if this buyer is genuinely interested, then they might consider Paypal to be the safer option to purchase online.

For you as the seller, there are also some assurances provided by Paypal. You should check whether the buyer's account has been verified by Paypal and whether there have been problems in the past with commercial transactions with that account.

So all in all, Paypal tends to be a good bet for online commercial transactions if used effectively... "effectively" being the keyword!

Like Xeno said... be very very wary of scams and frauds. Usually, it's sell-side scams that are more prevalent, but I've also heard of scams from "potential" buyers of merchandise. Xeno's given one good example... another one which I've read about involves the buyer using an e-check to make a payment through Paypal but the check takes 7 business days to get cleared, while Paypal shows the payment being "processed" earlier than that. So some sellers had handed off the merchandise only to realize that the actual funds were not really in their accounts... and in most cases, Paypal was unwilling to cover the funds.

In the case of cars, many sellers erroneously assume that such frauds and scams might be covered by their insurance companies but they're NOT... because an instance of fraud of funds is often considered culpable negligence. So don't fall into that trap.

This is not to say that you shouldn't engage in transactions through Paypal... but make sure you take the necessary precautions. 1: Ask for a verified paypal account linked to the buyer's identity ; 2: make it very clear that you are only going to release the car once the funds appear in your account... not just based on payment processed status on Paypal ; 3: you should still follow normal due diligence practices that you would follow if you were selling the car person-to-person - e.g. making a purchase agreement.

Good luck with everything.

[Lafanter]

@Xenophanez

There are some paypal scams out there, I would recommend meeting this buyer in person. Personally I wouldn’t accept any sizeable payment thru paypal for the reason that some other person could be scammed in process. Think about it, it is possible that he might advertised something else and he may ask interested party to make a payment to YOUR paypal account. The scammed party would make the payment, he would arrange car pick up from you, and this 3rd person won’t recieve a thing in return.

So be carefull.

PS:** you want me to change thread title to PAYPAL?**

hmmm, what difference would it make lol

any ways thanks for the advice

@Lucid_Chaotic

For starters, in a genuine situation, Paypal gives the buyer peace of mind that if the merchandise being promised by the seller does not meet the specifications that were laid out in the original posting, then the buyer has a recourse in this case. So, if this buyer is genuinely interested, then they might consider Paypal to be the safer option to purchase online.

For you as the seller, there are also some assurances provided by Paypal. You should check whether the buyer’s account has been verified by Paypal and whether there have been problems in the past with commercial transactions with that account.

So all in all, Paypal tends to be a good bet for online commercial transactions if used effectively… “effectively” being the keyword!

Like Xeno said… be very very wary of scams and frauds. Usually, it’s sell-side scams that are more prevalent, but I’ve also heard of scams from “potential” buyers of merchandise. Xeno’s given one good example… another one which I’ve read about involves the buyer using an e-check to make a payment through Paypal but the check takes 7 business days to get cleared, while Paypal shows the payment being “processed” earlier than that. So some sellers had handed off the merchandise only to realize that the actual funds were not really in their accounts… and in most cases, Paypal was unwilling to cover the funds.

In the case of cars, many sellers erroneously assume that such frauds and scams might be covered by their insurance companies but they’re NOT… because an instance of fraud of funds is often considered culpable negligence. So don’t fall into that trap.

This is not to say that you shouldn’t engage in transactions through Paypal… but make sure you take the necessary precautions. 1: Ask for a verified paypal account linked to the buyer’s identity ; 2: make it very clear that you are only going to release the car once the funds appear in your account… not just based on payment processed status on Paypal ; 3: you should still follow normal due diligence practices that you would follow if you were selling the car person-to-person - e.g. making a purchase agreement.

Good luck with everything.

thanks for your time.

and as i predicted in my head lol he replies

“Thanks for accepting my offer,i am buying the car for dad and i am at sea at the moment as i am a marine engineer and i really want the car to be a surprise for dad so i wont let him know anything abt the car until it gets delivered to him , i am sure he will be more than happy with the car.I insisted on paypal because i dont have access to my bank account online as i dont have internet banking, but i can pay from my paypal account, as i have my bank a/c attached to it, i will need you to give me your paypal email address so i can make the payments asap for the car and pls if you dont have paypal account yet, it is very easy to set up, go to www.paypal.com.au and get it set up , after you have set it up i will only need the e-mail address you use for registration with paypal so as to put the money through.I have a pick up agent that will come and pick the car up after i have made the payments.”

[Lafanter]

and this is what email tracker say…

[Lucid_Chaotic]

@Lafanter

and this is what email tracker say…

There you go… huge RED FLAG!! Nigeria… haha… yeah right! I’m going to sell you my car.

[P_G]

Re: Paypal

mera sawal yeh hay

app bay-car kion hona chatay hain konfused

[Xenophanez]

@Lafanter

and this is what email tracker say…

lols Lagos Nigeria. well now you should be extra careful. For me it’s a guaranteed scam.

[Lafanter]

^lol, man I was so happy to have a buyer.

[Lafanter]

mera sawal yeh hay

app bay-car kion hona chatay hain konfused

I need money real quick. My asking price is just 60% of the market value at which the car is insured, only to sell it quickly.

lets see, fingers crossed :)

[Mirch]

I need money real quick. My asking price is just 60% of the market value at which the car is insured, only to sell it quickly.

lets see, fingers crossed :)

In US you can go to many places who buy used cars and pay you cash. They do not have those kind of places in AU ?

Those people pay reasonable money not 40 percent off of the market value.

[Lafanter]

@Mirch

In US you can go to many places who buy used cars and pay you cash. They do not have those kind of places in AU ?

Those people pay reasonable money not 40 percent off of the market value.

that is a very idea, and i didnt even think of that

thankoo

[Mirch]

@Lafanter

that is a very idea, and i didnt even think of that

thankoo

You are welcome.
Sadday naal rahoo gay tay aish karo gay .

[Deeba1234]

Re: Paypal

Paypal is generally safe but there are many scams out there and also for v.large amounts they may well get suspicious and freeze ur account esp if u don't use it on a regular basis. This has happened to many many people. If I were the seller I would only take the deposit by Paypal then ask for the rest by bankers draft, cheque, something like that that u pay directly into ur bank account.

Also, the fact that he wants to pay the whole lot upfront without even seeing the car would make me suspicious and cos ur talking about a large amount of money u need to be extra careful.

[Lafanter]

lol, went to the dealer and he offered me very less, disappointing!