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I wanted to find out if I can send money to somebody using my Paypal credit line so I can pay of the money over time. I am buying a used car from a private seller and wanted to use $1000 from my Paypal credit line. Does anybody know if I can do this?
Important to note that:
Yes you can, BUT....
A) you MUST send a goods and services payment for this purchase (even if it is to a private seller) with PayPal Credit or you will get a cash advance % rate, not the deferred interest offer (this happened to someone recently and PayPal will NOT switch the payment type from a personal payment to a goods and services payment). You'd have to go through the hassle of getting the seller to issue a refund and redo the payment over which may affect the availability of PayPal Credit as a funding source during checkout on the redo.
B) Vehicles are sold as is and is NOT covered under PayPal purchase or seller protection. To resolve issues, go to small claims court.
C) To make sure you send a goods and services payment, ask seller to send a PayPal invoice, or create a Pay Now or Buy Now button or email link, seller can also send a PayPal.me link, or you can use the Send option or Send & Request tab from within your PayPal account but please make sure to select goods and services payment type and then see if PayPal Credit is available with the deferred interest offer when selecting funding source.
Also beware that on occasion, if PayPal Credit is used, PayPal may rescind the approval and end up charging the amount on a linked funding source so make sure you have enough on those to avoid any over the credit limit or bank overdraft fees. And lastly, PayPal reserves the right to restrict the use of the credit line depending on the circumstances of your transaction, if PPC is not offered during checkout, it is recommended a linked funding source is selected to complete purchase or just cancel the checkout and not continue with the transaction.