Is paypal secure? - PeachParts Mercedes-Benz Forum

t walgamuth · #1 12-26-2007, 10:17 AM

I am getting ready to sell a car to a guy who is planning to pay at least part of the money by paypal. Is there any way for him to get the money back after it is in my account? (like stopping payment on a check?)

Tom W

powerpig · #2 12-26-2007, 10:25 AM

He can contest it just like a credit card but it would hard for him. Move the money to your bank account ASAP. Just make sure you show proof of delivery to the confirmed address in his paypal account and you will be fine. Make a copy of the bill of sale and title transfer with his signature. I've bought and sold several cars using paypal and have never had a problem.

eagle-co94 · #3 12-26-2007, 10:28 AM

As far as I know they can't pull the money out of your personal checking account without your direct authorization. However, I've been told that that exact thing has happened. I'd read the paypal user agreement and see if it says something about it.

Due to several crooks on ebay, I withdraw my money as soon as it hits my paypal account. I've had several people pay for things and file claims on them to get money back because they change their mind.

If the money is in your paypal account and the person files a claim, your account will be frozen in that amount and you can't do any other business with paypal until that's resolved, or you've had enough money deposited to bring your account back to zero. I had that happen a few years ago and it caused me to go into savings to pay rent.

I imagine the purchaser is going to pay for part of the car on credit, which is why they want to pay part with paypal. It's a tough call because if you don't have that option you will likely not have the sale.

t walgamuth · #4 12-26-2007, 10:34 AM

Actually I am planning to meet him halfway and deliver the car there. I am asking for $150 non refundable to meet him. If the car is not as I have described it he is free to back out of the purchase, but I get to keep the $150for my trouble.

I met a guy a couple of years ago in Chicago and he used bogus complaints to back out of the deal and I was out the fuel and the day's time.

He did buy a different car from me later but he took the bus down here and drove it back. He did not ask me to meet him a second time.....and I would not have.

Tom W

strelnik · #5 12-26-2007, 10:45 AM

I have cancelled my Paypal account after identity theft in another item, a bank account where the stupid telephone teller sent checks and other personal info to the thief's house in another state, as well as my Paypal info.

It took a year to get things fixed and I still get problems with my credit.

Now I pay everything on Ebay with a USPS money order sent by registered mail. In a couple cases, where people refused to accept that, I had friends who agreed to do it pay by Paypal. I have twice used the USPS postal inspectors to get merchants to admit they cashed my MO and had to send the goods. I'm batting 100% this way.

I have friends at DoJ and they tell me bank and computer crime is easy in the US because the safeguards which European banks use are considered too costly by American banks, so they are quite willing to risk your credit rating and put the burden of proof on you to get things fixed.

In other words, you pay more and you get screwed. I'd rather have my flexibility limited and know that no one can take my cash.

powerpig · #6 12-26-2007, 11:04 AM

Interesting fact: The #1 source for identity thieves is NOT computer related. They usually get your info from your trash. A $29 shredder is one of the best investments you can make.

aklim · #7 12-26-2007, 11:07 AM

Quote:

Originally Posted by t walgamuth

Actually I am planning to meet him halfway and deliver the car there. I am asking for $150 non refundable to meet him. If the car is not as I have described it he is free to back out of the purchase, but I get to keep the $150for my trouble.

I met a guy a couple of years ago in Chicago and he used bogus complaints to back out of the deal and I was out the fuel and the day's time.

He did buy a different car from me later but he took the bus down here and drove it back. He did not ask me to meet him a second time.....and I would not have.

Tom W

I wouldn't have that issue. I have transfered more money than that.

eagle-co94 · #8 12-26-2007, 12:43 PM

That sounds like a good plan, especially if you have it in writing. I had a guy ship a fiberglass hood to me that I bought on ebay. The day before it arrived I finally got the tracking number and he admitted to breaking the corner off when packing it. I told him I was no longer interested in the hood. When it arrived I refused the package but only after inspecting it.

My mistake with paypal was that I told them in the claim "item not as described." To this paypal will send an automated response that they don't guarantee what they ship...only that they ship something and automatically close the dispute. You only get one chance to dispute it and then it's over. I did a charge-back through my CC company and never had another problem.

Good luck on the sale. It sounds like you'll be fine. I do recommend immediately withdrawing the $$. If your extra concerned, get a paypal card (like a debit card for your paypal account) and make a few purchases with it (like gas and such). You earn rebates on purchases run as credit, but DON'T use it as an ATM card. The fees are insane.

I second the recommendation for a shredder. MAKE SURE it will cross-cut. Otherwise it's worthless. Any 5 year old kid and tape together strip cut paper.

TheDon · #9 12-26-2007, 12:52 PM

I shred then burn...

t walgamuth · #10 12-26-2007, 01:22 PM

Sounds like a plan. I am impressed with all the input on this thread!

Thanks, everybody.

Tom W

dn 1985 300D · #11 12-26-2007, 04:09 PM

Always look at the e address. The s is important.
https is secure
http is not

Ara T. · #12 12-26-2007, 06:12 PM

I got a phishing email once from a paypal imposter. it said it needed my acount and password in order to do some security updates or something, and that if i didn't respond in a week my account would be suspended

Chris Bell · #13 12-26-2007, 06:58 PM

Quote:

Originally Posted by t walgamuth

I am getting ready to sell a car to a guy who is planning to pay at least part of the money by paypal. Is there any way for him to get the money back after it is in my account? (like stopping payment on a check?)

Tom W

Is anything on the internet truly secure?

vwbuge · #14 12-26-2007, 11:16 PM

Quote:

Originally Posted by Ara T.

I got a phishing email once from a paypal imposter. it said it needed my acount and password in order to do some security updates or something, and that if i didn't respond in a week my account would be suspended

I get that all the time, at least once a month.

I never accept a large amount of money through paypal because you have to pay a fee. In your case you would have to accept an acceptable amount because of your time involved. Make sure he is "verified" user. I think it takes like 2-3 days to process the money (electronically verified it is in your account). As per the previous posts, transfer the money as soon as it is in your paypal account. When you have verified that the money is in your bank account, THEN proceed with your arrangement.

GOOD LUCK, let us know how it works out.

t walgamuth · #15 12-27-2007, 12:01 AM

Thanks to everybody for your helpful comments.

I will try to follow as many as is practical in my situation.

Tom W