vehicle sale. large $ amount - Concerned about payment & possible fraud.

cf46sr
Contributor
Contributor

Hi 
I'm selling  a motor vehicle (~$20,000) and the purchaser  wants to pay by paypal. They are willing to pay extra to offset the PayPal commissions. They've stated they will only pick up the vehicle once the funds have cleared through to my account from paypal.

Is there anything I should be concerned about?
It's a large amount so I'm a bit apprehensive.

Also, how long do the funds take to transfer from PayPal into my bank account (Canada)

Thank you  in advance

 

    

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1 REPLY 1

sharpiemarker
Esteemed Advisor
Esteemed Advisor

@cf46sr

 

PayPal seller protection does not cover vehicle sales or items that are picked up.

https://www.paypal.com/ca/webapps/mpp/ua/useragreement-full?locale.x=en_CA#seller-protection 

 

Applicable buyer protection policies is based on location of buyer applies (select country buyer is from):

https://www.paypal.com/webapps/mpp/ua/legalhub-full


Kudos & Solved are greatly appreciated. 🙂
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