Accepting PayPal question

[mr48chev]

People have run into that issue in the past when the buyer decided to back out on the deal for some reason.

It might be more prudent on your part to ask for a reasonable deposit via paypal with the rest due via bank transfer or other means that will have to clear your bank before release of the vehicle and title.

Trust is a two way street and you have to remember that the buyer may be wondering if and no doubt his friends have put the thought in his mind that there is the possibility that you have misrepresented the vehicle in your add and wants some avenue of recourse if that is the case.
We read on here and other forums every week of cases where someone in the group has purchased a vehicle that was represented as being better than it was or hidden issues weren't disclosed. I'm not saying that is the case and I hope that it isn't but there are many individuals who make a living or side living by buying and flipping vehicles after spiffing them up just enough to make them interesting to a prospective buyer on the net. There are a couple of build threads on here right now where the project vehicle was in no where near the condition that the seller said it was when the current owner purchased it.

If the truck is exactly as you represented it and maybe actually a bit better and you disclosed any issues that it has and feel that you have been honest in your add and pricing and are pretty well positive that the buyer will be more than happy with the purchase I don't see an issue with taking Paypal except that it may be hard to draw a large sum of cash out at one time. If it isn't maybe you had better ask for cash greenies on the barrel head and cross your fingers that he doesn't start a "look at the hidden issue's with this truck that that guy sold me" thread.

Sorry about being so long winded on this but it seems to be an on going issue both ways.

[Rudoo]

Thanks everyone. The truck does have some issues, but I have told them this. I told them the reason I was selling was because I don't have the tools or place to do these repairs. From what I have read and some people who saw the truck, the issues really aren't a big deal to someone who has the garage and tools. If I give him my bank rounting #, there is no way he can do anything with my account, is there? He is offshore, so I don't know if it will be a problem for him to wire money. Can he do that from there?

[mr48chev]

Originally Posted by Rudoo

Thanks everyone. If I give him my bank rounting #, there is no way he can do anything with my account, is there? He is offshore, so I don't know if it will be a problem for him to wire money. Can he do that from there?

Go in and talk to your banker and ask how the bank wants it handled. He (she in my case) should be able to tell you the best and safest way to do it and what info to give out and what info not to give out.

My go to bank person has always helped make things work right and that is probably the best advice I can give.

[Rudoo]

Thanks!

[Bardahl]

They will have no way to get to your bank account if you give them the routing # this is just to get$$to your bank and your bank will deposit it into your account, I just went through this with my bank and asked lots of questions, we were going to open a separate account to do the car transactions and after sitting down with the account manager at our bank she assured us that no way can they get into an account or take money out of an account w/routing # information given out to someone. so we used an existing account. and also do not accept money orders either unless they are US Postal service, if the $$ are in a bank check make sure the funds clear and are secure in your account before releasing anything including title or paperwork this usually takes 5-7 business days, I just call my bank and see exactly when it is clear (not when it is deposited but when it is in fact cleared)

[Rudoo]

Thanks Bardahl