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Question about receiving payments

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TheHR
New Community Member
Posted on

I have never received payments before and have someone who want to purchase a vehicle I have for sale.  What are, if any the risks of receiving money this way?

4 REPLIES 4

Question about receiving payments

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Oregon11
Advisor

@TheHR

 

PayPal seller protection doesn't cover vehicle sales. If the buyer files an unauthorized transaction claim you'll have no recourse (You'll be out the money received and the vehicle).

 

PayPal payments for vehicles should be limited to only a small deposit to hold the vehicle for the buyer until they show up with cash, not for the entire purchase price.

 

Here is a PayPal link on what standards need to be met for you as a seller to have seller protection.

 

https://www.paypal.com/us/webapps/mpp/security/seller-protection

Question about receiving payments

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TheHR
New Community Member

Thank you

Question about receiving payments

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Oregon11
Advisor

@TheHR

 

You're very welcome.

Question about receiving payments

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TSG975
New Community Member
I am having an Estate Sale and have a personal account. Can I offer PayPal as an option of payment without being charged a fee. Wouldn’t the payer also have to have a PayPal account? This to me would mean the payment would be safe because the payer would have been vetted by PayPal. Thanks

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