I'd say cash only with you giving him a bill of sale. Does this guy have any racing history you can check on?

Other option is to claim it as a personal payment, no fee if paid from his bank account. There will also be no item tied to the transaction, so it would be virtually impossible for him to dispute it. Yeah, it's shorting Paypal their 2.9% mordida, but don't feel terrible about it.

Ive bought with wire transfers a number of times. I seem to remember a somewhat messy transaction regarding a vehicle which the buyer saw in person. Wouldn't want that kind of thing taking place with Paypal involved.

Without reading any of the comments, here is my take:

There is no way I would accept payment for a car through Paypal and would have some serious questions as to why the buyer would want to pay for a vehicle in that manner.

https://www.paypal-community.com/t5/Access-and-security/Advice-about-selling-a-car-recieving-payment-via-paypal/td-p/273176?profile.language=en-gb

I prefer PP for the big ticket items. My LOC is with GE Capitol Com. and my arrangement gives me 60 days before any interest kicks in. Most of the time I can flip the item before assessed any interest.

My buyer is going to wire the money into my account.

Cool!

Thanks guys!

Tom

Got the money now. He'll be here soon to load it up.

End of an era... Glad it's going smoothly.

Did this guy buy sight unseen? I'd be concerned about giving an unknown party my bank acct #.

He bought it the way one does who buys a car away from home. He looked it over well, I took off body panels and such, he read my postings about my recent racing with it and we listened to it run. He is a known entity at apexspeed the open wheel forum. Apparently wiring money is a pretty safe way to send money, I am told.

You do that every time you write a check.

Congrats on the sale. Now time to go spend the money!

I don't know what to do....usually I have the money spent before I get it!

I had only bad experiences with PP, such as holding funds if you didn't have any transactions for 6mo. or longer. Fees, if you are on the receiving end, even though they charge the other party too. Withdrawal limits. Working with IRS and submitting your financial situation unlawfully. The list could go on!
But most importantly, you can lose both, the money and the item. PP is not a bank and their terms and conditions are not in your favor if some dishonest person (mostly outside your country of residence) is pulling back the transfer for some reason or used a heisted account. PP doesn't give a hoot if justified or not!
Plus, something bothersome, to me, they earn the interest for your money if they opt to keep your money frozen for up to 21 days, or more.

This has been an informative thread, thanks guys!