PayPal for bike payment?

Discussion in 'General' started by fastedyamaha, May 12, 2019.

  1. fastedyamaha

    fastedyamaha Well-Known Member

    Anyone have any experience accepting PayPal for payment for a bike? Buyer lives out of state and bike would be shipped after payment has been received. Wondering if this is the best, safest way to accept payment or if there’s something better? TIA!
     
  2. RRP

    RRP Kinda Superbikey

    Unless it's someone I know personally...cash.

    Arrange the meet up, you bring bike/spares they bring the cash.
     
    _indy likes this.
  3. brex

    brex Well-Known Member

    Wire transfer.
     
  4. Cash or wire transfer. Anything else has too many risks.
     
  5. lopitt85

    lopitt85 Well-Known Member

    Postal money order is very secure. Allow bike to ship after money order is cashed. I have payed for my items using PayPal, but never sold anything with it.
     
  6. michaelrc51

    michaelrc51 Well-Known Member

    I’ve done it. If I’m the seller, I just make it clear that the bike isn’t leaving my hands until the money clears in my account.
    You gotta watch though, PayPal can put a hold on that amount of funds if the buyer puts in a claim. This is why I have 1 account for PayPal stuff, if I was receiving a large sum I would move it out of that account as soon as it clears. That way if they try to play any games there’s no money in that account anyway.

    I’d also make up a bill of sale before you take payment.


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  7. HPPT

    HPPT !!!

    What's the incentive for the buyer do to a wire transfer, though? He has zero protection.
     
  8. RRP

    RRP Kinda Superbikey

    This scenario is why I wouldn't use PayPal.
     
  9. SuddenBraking

    SuddenBraking Well-Known Member

    I’ve been on both sides of this transaction when buying/selling out of state. I’m fine using PayPal either way.
     
    michaelrc51 likes this.
  10. michaelrc51

    michaelrc51 Well-Known Member

    When I’m the buyer, I like to use PayPal instead of wire transfer cause there is some form of protection.
    However I bought my current RSV4 by paying with a wire transfer. It’s a big leap of faith that it’ll work out. But do your homework, research them online and call their bank to make sure they’re legit. I’d also ask for a DL pic, verify their address on the title and all. With this RSV4, he overnighted the title and Bill of Sale as soon as I paid. Then the carrier picked it up a few weeks later.


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    BigBird likes this.
  11. michaelrc51

    michaelrc51 Well-Known Member

    Yeah, but you gotta realize atleast it leaves both parties with some protection. A wire transfer has 0 protection.


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  12. Newyork

    Newyork Dip Mode

    I sold my Trailblazer SS on eBay $18k the guy sent me $1000 via PayPal for down payment. I waited for it to clear in my bank account then we arranged for his local credit union to send me a bank check directly. Once that check cleared i sent him the truck. He arranged shipping.


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  13. Newyork

    Newyork Dip Mode

    Duplicate
     
  14. ClemsonsR6

    ClemsonsR6 Well-Known Member

    Paypal works just fine as long as you're smart about it.

    Item stays with me while funds clear transfer to my bank account. Once the funds are in your acct, clear the bike for shipping. Take a video of the bike starting and running at the time of pickup and detailed photos of the condition.
     
    badmoon692008 and TurboBlew like this.
  15. Spitz

    Spitz Well-Known Member


    Id just find another buyer if they cant make the drive. How far out are they?
     
  16. ducnut

    ducnut Well-Known Member

    Overnight a bank check is how I’ve done it. Once the bike owner receives the check, they overnight the bike’s paperwork to the buyer. That allows the buyer to get all the title, registration, and insurance stuff done on their end, so the bike is protected.
     
  17. TurboBlew

    TurboBlew Registers Abusers

    um sure... IF it gets to where you mailed it. And the $1,000 limit is kind of inconvenient. At that point Id take a personal check...lol
    Paypal takes ALL of the inconvenience out. The problem arrises when folks try to short change their safeguards by using the Friends & Family option.
     
  18. fastedyamaha

    fastedyamaha Well-Known Member

    I’m in Ohio and he’s in North Carolina. Cheaper to ship it then drive up and back with a night in a hotel. I’d prefer cash in hand but looking for options.
     
  19. Potts N Pans

    Potts N Pans Well-Known Member

    I wouldn't do it with Pay pal. I have seen too many screwed over.

    Good luck
     
    busa99 likes this.
  20. fastedyamaha

    fastedyamaha Well-Known Member

    How? That’s what I need to know. I’ve never paid more than $500 with PayPal so I’m nervous about this.
     

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