Using a credit card and paypal to buy a bike?

[Deicide]

PSB,
I have a guy from the country coming up to look at a bike i have for sale tomorrow afternoon,
He wants to buy the bike using his credit card via paypal, he tells me the money transfers instantly, and i can take the money from my paypal account and put it into my bank account straight away.

Now as soon as i here paypal im always a bit suss, the reason for paying credit card is to have the 54 days intrest free, and i guess, if he dosen't buy the bike, he hasnt wasted time getting a bank cheque or cash.

Im worried that once the money is in the account, there may be some way/chance it can be taken back out?

Anyone gone through this process shed some light on the situation?
cheers

[Rat750]

I'm fairly certain that once a payment has been made to someones paypal acc then it's final and can't be retrieved.

[HughDMan]

Don't do it.
I'd say he is using paypal via credit card.
Paypal is great for the buyer shit for the seller ie buyer can cancel transaction, it's a headache you don't want.

[=Stevo=]

Paypal was originally setup to protect buyers and allow them full refunds from dodgy sellers... meaning that your money can be refunded or taken/frozen by paypal without warning for a variety of reasons. Now a lot of dodgy folk are taking advantage of how biased paypal is and buying something via paypal, receiving it, then complaining and receiving their money back whilst keeping the item.

I hate paypal. Don't sell something via paypal if you can avoid it.
If he cares that much about saving the 54 days of interest... offer him $100 less on the purchase price to cover it if you really want to sell it.

[shui]

^^wts..

on the flip side though, I have sold my bike once to a guy who paid via paypal and everything turned out fine..it was a direct money transfer though, not via credit card..

-shui

[drew74]

ive gone through exact same thing, give him $12 off and tell him to go get a bank cheque......if its under a few grand, CASH.......if he wants it he will do what ever you want, or just thought what ive done before, get him to direct deposit then when its cleared give him the bike.....

[The Saint]

Cash or bank cheque or GTFO

[SIKPUPY]

Deicide,

Just put an add up on gumtree for your bike and see what happens. Take Cash on pick up or a bank cheque. Nothing else.

I will almost guarantee you will get someone reply within minutes offering xxx amount over the asking price or the asking price with no negotiation and he will get a transport company to pick it up and take it to tasmania or something. They will only pay via paypal. Truck comes, takes bike. while your doing the deal. Money that was in bank is no longer there and your bike is gone. You wont have a clue where your bike went either.

Here is one that I got a few months ago. Take note that it was a nearly 30 y/o $1200.00 bike which needed a bit of love. Reply to add was about 4 minutes after I posted it via a text message from one of those free text message sites offering me $1500.00, I emailed the email address supplied in the add telling them to come and pick it up. This is the repsonse I got. Oh Google the address that I was given.....


"Hi,


I'm Honestly happy to see your reply just now because because i want it . I
believe you've had some buyer's interested in buying Bike from you but i think
the best way to outbid them is by offering an additional sum to your asking
price, I'll like to buy it from you a.s.a.p. for my Uncle. But to start with,I
will like to let you know i will be making the payment via PayPal because it's
very Safe,Quick and Secure for both of us. I won't be available to come
for inspection my self due to my new Job transfer . I have a pick-up agent that
will contact you on where and when the pick-up will take place after have
completed the payment,

I will like you to tell me a little bit more about the present mechanical
condition of the bike on how often do you service it and the history ?

Your quick response is greatly appreciated then i can proceed with this
transaction immediately



25 Electra Place, Mornington

Tansmania. Australia

Regards"

[Dubs]

Seems legit

Dubs

[Deicide]

Yeah, not as dodgy as that^^ they guy is coming to look at the bike, so no freight forewarding companies to deal with, fill in and sign the transfer papers etc.
Still not to convinced on the Paypal idea though, so might have to let him know cash or bank cheque only.

Thanks for the help

[HughDMan]

I would be cash only, it seems this person may be a scammer. Yes I'm very cynical, but I've heard of alot of people being scammed of late. FYI a bank cheque can be stopped.

[goof]

Cash or bank cheque or GTFO

Be aware that bank cheques are not as good as cash as some people say.
Up until the time it has cleared in your account they can still cancel it.
All a bank cheque says is that there was enough money in their account at the time.

[Deicide]

I though a bank cheque was a cheque drawn against the bank, not from a personnal bank account?
That way, unless the bank suddenly defults, the cheque is as good as cash?

[jmoore]

correct me if im wrong, but if you receive money through pay pal you have to pay a certain % fee to get the money transferred into your actual bank account?

On the other side, if you have a copy of the transfer papers with their address, liscence number, signature etc, ie physical proof that they took the bike, I dont see how paypal could refund the money back to them

[P.J]

I hate paypal

[pucara]

Cash or bank cheque or GTFO

+1 to that

[agrid]

I bought and sold a lot of stuff through PayPal with no problems. Nothing major like a bike though. Banks cheques can still be cancelled until they have been cleared so they are not the same as money. I bought a new car by doing direct deposit.

[=Stevo=]

On the other side, if you have a copy of the transfer papers with their address, liscence number, signature etc, ie physical proof that they took the bike, I dont see how paypal could refund the money back to them

Because paypal don't wait for annoying things like 'evidence' or 'facts' when it comes to refunding the money. They are mainly concerned with the fact that someone is unhappy...
... once the money is moved and Paypal has made up its mind it can be a long, painful nightmare to try and get the money returned... going back and forth between the banks, paypal and the police for months on end.

[Cam]

Sounds like you're halfway to being had already. Don't do it...

I'm guessing at this point he'll make a big song and dance about it, but frankly I think you're about to get fucked.

[Veefore]

correct me if im wrong, but if you receive money through pay pal you have to pay a certain % fee to get the money transferred into your actual bank account?

On the other side, if you have a copy of the transfer papers with their address, liscence number, signature etc, ie physical proof that they took the bike, I dont see how paypal could refund the money back to them

I had a buyer from NSW ask to use paypal. The fee to get the money from Paypal to my bank account was a couple of hundred dollars. I told him to withdraw the paypal payment and send me a cheque or EFT transfer.
the EFT transfer was more than his bank would allow so in the end he did two separate transfers over two days and we did the deal.