Cash vs Paypal payment

[EdT]

Is a guy from Germany, who is suggesting buying my car using Paypal, likely to be a no-no? Only sold cars with cash previously so not sure what's what here.

[Podie]

The word "PayPal" is always associated with scam in my book.

Cash or no car, IMO.

[V8 GRF]

Podie said:

The word "PayPal" is always associated with scam in my book.

Cash or no car, IMO.

PayPal is a good way of transferring cash safely, however, the only issue is that they take quite a large commission for the service and a PayPal payment can be reversed.

Whilst I happily use PayPal for ebay payments we're not talking thousands so I'm with Podie on this one.

[Onzlouk]

I have sold a cheaper car with Paypal before as the guy actually paid using his Visa card.
The fees on an expensive car would be horrendous, make sure he pays those aswell and i cant see a problem.

[sinizter]

Is there any way a chargeback can be issued with a transaction like this ?

I got stung for a phone a long time ago - Paypal reversed the funds, leaving my PayPal account in a negative state, so ended up losing the money even though it had actually cleared into my bank account.

[Podie]

V8 GRF said:

Podie said:

The word "PayPal" is always associated with scam in my book.

Cash or no car, IMO.

PayPal is a good way of transferring cash safely, however, the only issue is that they take quite a large commission for the service and a PayPal payment can be reversed.

Whilst I happily use PayPal for ebay payments we're not talking thousands so I'm with Podie on this one.

Paypal is a private bank. If the other party put in a chargeback (especially if sent as a gift) then you have absolutely no comeback.

£50 eBay payments are one thing, selling a car is quite another.

[330p4]

Do not do it they can charge back at anytime even if you have transferred the money to your bank account they will pursue you the innocent party with a stream of debt collectors the a------e who scams you gets off scot free. Give him your sort code & account number & get a transfer or good old cash
Ian

[EdT]

Folks.. many thanks