PayPal Risks

Vinci

Vinci

Residential Surveyor
T6 Guru
Can anyone please explain how to safely sell a van, ie not an insignificant amount of money involved, when a potential purchaser insists on paying by PayPal.
How do you avoid being scammed.
I understand a common one is to “pay” so it’s in your account, then purchaser claims unauthorised transaction and PP remove funds from your account to reimburse, leaving you van and moneyless!
Many thanks in advance for your words of wisdom and experience.
 
Personally i would not accept it
If they have money to fund a PP transaction then they should have funds to pay you directly, i think if it is sent as a friends and family payment then it is exempt from refund/reversal but if the buyer claims fraudulent payment etc who knows !!

I think bank transfer is the norm for this type of transaction now ?
 
You just hear to many stories of people finding loopholes or workarounds to things like eBay & PP and sellers loosing out, i would never be a 100% satisfied it was 100% safe
 
Simply thank him for his interest but stick to your guns on a bank transfer at least. Or, if you’re really bored, read the small print of these other payment mechanisms, particularly regarding disputes and dispute resolution, and you’ll wonder why you’d ever use them given all the consumer/financial protection rights one has to give up!

If you hear an inner alarm bell, listen to it!
 
Having lost money (not a significant amount ~£100) and PayPal being as much use as the proverbial chocolate teapot I'm always wary with any PP payments.....
 
If they are serious about buying your van then they shouldn’t have a problem paying for it under your terms.
The way the market is at the moment you shouldn’t have any problems selling it to someone else if they won’t.
 
Bank transfer or cash only, never, never, never Paypal. Selling something like your van is not for Paypal.
 
Vinci said:
Can anyone please explain how to safely sell a van, ie not an insignificant amount of money involved, when a potential purchaser insists on paying by PayPal.
How do you avoid being scammed.
I understand a common one is to “pay” so it’s in your account, then purchaser claims unauthorised transaction and PP remove funds from your account to reimburse, leaving you van and moneyless!
Many thanks in advance for your words of wisdom and experience.
Click to expand...
I think it's fair to say that on this subject, T6 Forum members are fairly well agreed!!!
 
Mrs sells bits and bobs on ebay and they along with PayPal always side with the buyer. As everyone else avoid PP.
 
Definitely not for purchase of a van, the only reason I could think they would need to use it is if it was being funded from their credit card.
Paypal normally sides with the buyer in any dispute, potentially leaving you with no money and no van. Definitely bank transfer
 
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I thought ebay and paypal had parted ways as my last few purchases had to go through a debit card. But saying that, I used it today and paid by PayPal?
 
Sackmycook said:
I thought ebay and paypal had parted ways as my last few purchases had to go through a debit card. But saying that, I used it today and paid by PayPal?
Click to expand...
I thibk its not fully come in yet. I know you wont be paid through PP so avoiding their fees.
 
There is also the latest thing with PayPal where they hold the funds for about 14-21 days after the transaction and won’t release it to you until a deadline has passed where the purchaser can claim their money back.
Another vote for steering clear of PayPal for payment of something as expensive as a vehicle. Far too risky.
 
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