Got an offer on my ATV

Got an offer on my ATV last night. The gentleman wants to pay via Paypal. I’ve used Paypal for lots of transactions in the past, but we are talking small ticket items, less than $500.00.

This transaction will be for over $3k. Is there anything I should be concerned about, other than the fee to receive the money? The guy is from St. Cloud.

In my head, he should send me the money/I request the money prior to him showing up. I confirm I receive it. He shows up, we both sign a BOS(bill of sale). He takes the ATV. It shouldn’t be anymore complicated than this, should it??

He has to pick it up right ? CA$H in hand and its your’s. PayPal is for buying protection on items sight unseen, he can “see” it before he “hands” you the CA$H, heck he can drive it right ? Simple and clean

Why pay a fee when he has to pick it up…What G said ^^

What G said.

St. Cloud????????? You guys are practically neighbors. Tell him to get off his go to the bank for the cash, drive to your house, test drive and buy the darn thing.

Want to be careful with PayPal even thou it says the funds are there. Don`t turn over any thing until you get a confirmation EMail it can take up to 4 days to confirm the actual funds are there. Normally the first EMail you get says funds are sent DOES NOT MEAN THEY ARE ACTUALLY THERE

You are wise to be suspicious, but it is possible it is his easiest way to “finance” the transaction on his credit card.

Good luck

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He has to pick it up right ? CA$H in hand and its your’s. PayPal is for buying protection on items sight unseen, he can “see” it before he “hands” you the CA$H, heck he can drive it right ? Simple and clean

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As much as I hate saying this, I agree with big G.

The one thing that comes to mind is, the buyer might not have the cash available and wants to pay by credit card that is why he wants to use PayPal.

Ron

I would wait for someone with cash if it were me. I believe he can also withdraw his payment if it has not cleared the bank via paypal. Cash or bank check for me.

I guess I never though of the pay by credit card for an atv

To me, Paypal is as good as cash. I understand I have to confirm the funds are actually there of course. I suspect the buyer is using a credit card which makes Paypal a perfect vehicle for him. Sure, cash is king, but I’m struggling to find a down side.

I figure if he gets here and he doesn’t like the bike, I can refund his money on the spot.

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I guess I never though of the pay by credit card for an atv

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Some people like to. I have bought a number of sleds using Paypal and my CC. Take advantage of my rewards instead of just paying cash and not taking advantage of rewards.

You’re right. The only downside is he ends up with the ATV & the cash.

Just don’t let him have the ATV until you are 100% positive that the funds are good.

Good luck.

I have bought and sold many thinks with Pay-pal.

I had one person dispute a credit card bill that they had used to pay by Pay-pal.

I had proof of shipment and delivery of the item.

Scanned it and e-mail it to Pay-pal.

Ultimately it ended in my favor but it delayed me receiving my money by 90 days.

Just be warned that you are not out of the woods until you have the money in hand.

As long as you see the money in your account before handing over the quad it sounds good to me. It todays electronic age it pays to be flexible.

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Just don’t let him have the ATV until you are 100% positive that the funds are good!

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This is what I would do. There may be an incentive of no interest for a certain period that he is using in his favor. Just make sure you see the $ in your account or even transfer it to your bank account before it leaves your possession!

If using Paypal, make the buyer pay the fee, or have him select that the transaction is for personal use and have him put the ATV in the message. Like previously stated, make sure you transfer the money to you bank account before handing him the quad.

He is probably going to use his CC to pay through paypal. Problem is, if he does not like the ATV or wants to try and scam you he can click 2 buttons and have your money put on hold through paypal for 90 days while they investigate the claim. You will have to provide proof he took the ATV and everything or paypal will take the money and give it back to him. If you have a legal BOS you will get your money, but not after 90 days or so.

Seems like a whole bunch of loops to jump through when you could just wait for a guy with cash. If he really wants the ATV and doesnt have cash there are a few ways he can get cash off his CC through paypal. He can send money to a friend and have them give cash for instance. If he wants the ATV he can get you cash, if he wont then pass.

If he wants it on CC for points/rewards it can’t be THAT much he’s getting, say for example it were a cabelas card, on 3500, he’d getting $35 bucks in points. Tell him you’ll split the difference (a whopping$17.50) if he bring cash on pickup to avoid the hassle.

If he’s using CC because he doesn’t have 3500 to pay outright for, lets face it, a toy, well tell him you can’t in good conscience be part of him making a(nother) poor monetary decision.

yeah, what others have said. He’s 40 miles away. If u have to question it, it’s not worth doing.

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Problem is, if he does not like the ATV or wants to try and scam you he can click 2 buttons and have your money put on hold through paypal for 90 days while they investigate the claim. You will have to provide proof he took the ATV and everything or paypal will take the money and give it back to him. If you have a legal BOS you will get your money, but not after 90 days or so.

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THIS!

You may get lucky on this but you are a fool if you do it this way!

Good Luck!

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If he’s using CC because he doesn’t have 3500 to pay outright for, lets face it, a toy, well tell him you can’t in good conscience be part of him making a(nother) poor monetary decision.

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Thanks for sayin’ it PooMunk. I don’t have enough fingers and toes to count the number of times I’ve had to tell someone that very same message.

When I bought my 1st 3-Wheeler in 1985, I didn’t have 2 nickels to rub together… I was 17 years old & in High School. I took out a loan and chipped away and paid it off, while working my way through Basic Training…. how quick people are to judge others

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If he’s using CC because he doesn’t have 3500 to pay outright for, lets face it, a toy, well tell him you can’t in good conscience be part of him making a(nother) poor monetary decision.

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Thanks for sayin’ it PooMunk. I don’t have enough fingers and toes to count the number of times I’ve had to tell someone that very same message.

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I agree with both of you that it’s a bad decision to buy something like this on a credit card. However who am I to tell someone else how to run their financial life?

As long as the payment comes through successfully it’s the buyer’s problem with their life, not mine. That said on the original question I would push the buyer to explain why they want to use Paypal. At only 40 miles I would have to be really motivated not to take cash only.

Thanks for all the comments. You’ve all been very helpful and given me a lot to think about. I’ve exchanged many emails with this person today and have an in-depth understanding of why he wants to use Paypal. It is to use a CC. I’ve yet to decide if I’m going to accept the offer. I’ll discuss with my wife tonight, she’s got the best money barometer I’ve ever seen.

OK, I’d be happy to clarify a little for ya G and Pat

if anyone wants to finance a toy anywhere else, I AIN’T GONNA SAY BOO about it

if they wanna finance it with me, I definitely have a few questions to ask before I say yes (or no)

One important point to consider: Paypal is NOT like cash.

If you read the 45,000 word user agreement that you accepted when you joined Paypal…

The bottom line is that any money that was placed IN your account can be pulled OUT of your account by Paypal for a variety of reasons without your consent. Paypal can also pull the money out of your linked bank account or credit card, again without your consent and for almost any reason.

The most common scam is for a shady buyer to go to Paypal and claim that they paid, but goods were never delivered. Paypal will instantly yank the funds back out of the seller’s account before an investigation even begins.

So now the crooked buyer has possesion of both the goods AND the money. You can see where this can lead to a very bad situation potentially.

It could be legit, but I’d be very, very careful. Is there no chance of a cash money sale? Why can’t the buyer go to his bank and get a loan rather than putting it on a credit card?

Grouse

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OK, I’d be happy to clarify a little for ya G and Pat

if anyone wants to finance a toy anywhere else, I AIN’T GONNA SAY BOO about it

if they wanna finance it with me, I definitely have a few questions to ask before I say yes (or no)

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Agreed!

Something my grandma taught me long ago was this:

1: if you’re buying a car and can’t pay it off in 3 years, you cant afford it.

2: if you are going to buy a more expensive house, make the payments on that house for one year before you buy it. That way you not only show if you can afford it or not but you also built up your savings account in the process.

3: ANY LUXURY ITEMS I.e. atvs, boats, motorcycles, etc. Pay cash. If you want one of them and can’t pay cash. Buy a cheaper one and see how you like it. Save your money until you can buy what you want without loans.

4: just because somebody has more toys doesn’t mean they have more money. Usually the bank is the one that has their money.

As to the OP I would wait for CASH in hand.

If you were on the site posting about buying an ATV with a credit card because you didn’t have the cash, I would say bad idea.

But to the OP wanting to sell an ATV, all I would concern myself with is getting paid. So if you are comfortable with Paypals terms and such, go for it.

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One important point to consider: Paypal is NOT like cash.

If you read the 45,000 word user agreement that you accepted when you joined Paypal…

The bottom line is that any money that was placed IN your account can be pulled OUT of your account by Paypal for a variety of reasons without your consent…..

Grouse

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+1 heck

Pay pal protects the buyer and almost always sides with the buyer in disputes. He has 45 days to claim “item not as described” and he can get a full refund.

You may be able to receive the money as a gift and circumvent the buyer protection but I am not familiar enough with the system to comment on that.

If it was me I WOULD NOT DO IT