Wildguzzi.com
General Category => General Discussion => Topic started by: BSABEN on June 20, 2018, 08:01:20 PM
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I have listed a motorcycle on Facebook and have an interested buyer. I am in Michigan and the buyer is in New Mexico. He is stating that he will paypal the money if i send an invoice.
Does this seem like a legitimate way to proceed. If the money appears in my account is there still the possibility of retraction? I would not send the bike without having the money in my account.
I'm just trying to figure if i should proceed or sell for less local
Any experience is appreciated
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I think there are cases where Paypal can reverse a payment, I don't know under what circumstances but even after you withdraw the money they can still charge you and your left owing it.. do a lot of research before proceeding.
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I have sold and bought motorcycles from / to USA ~ Canada. I would suggest asking for a bank wire transfer and have your bank confirm receipt of deposit. It’s a cheap way to be assured of payment. I once accepts PayPal deposit but I have been told it can be faked
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There is a scam that goes on here in Australia were the buyer pretends to work on a gas rig and can't come and see the bike but will send a truck to pick it up. They want to pay with paypal also. I have been approached several times in the last 12 months. Sometimes about 10 minutes after the for sale ad has been placed. It must work for them on occasion cuse they keep on trying. :copcar:
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Have you had a phone conversation with the person? That is a quick way to determine if it is a scam in the works or a legit buyer ... the scam guys never contact you again when you suggest a phone call.
How is he going to get the bike? Is he using a shipper to get it? Many professional shippers can work out an escrow account ... that should make a buyer feel better as well as give you some comfort/protection.
I would not do paypal.
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If you determine it's not a scam (which it sounds like it might be), take only a non-refundable deposit of $500 via Paypal, to avoid their fees, then the balance via a bank wire transfer or certified bank check. Make it clear that the bike will not move one inch until all funds are received and clear your bank!
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An escrow service is an alternative. I've bought and sold high ticket items long distance that way. In my transactions the buyer sends the money to escrow. Escrow verifies funds and holds the money until the buyer is satisfied with the item, and then releases the money to the seller.
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I recently used this service when I sold my Aprilia to a buyer in Minnesota, sight unseen:
http://www.shippingmasters.com/services/
Was pretty easy and everyone felt better about the sale.
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If you do PayPay do it as a friends and family transaction and not a regular or business transaction. As soon as the money hits you account transfer it to your bank account and you safe. PayPal cannot retract F&F transactions.
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Cash.
Every bike I have sold long distance was picked up by a service that brought the cash to me when they picked up the bike. In one instance the cash was fedex-ed to me.
Scammers would have a very hard time getting the cash back from me. In fact, no scammer will make a straight cash deal.
Cash.
Hunter
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If you determine it's not a scam (which it sounds like it might be), take only a non-refundable deposit of $500 via Paypal, to avoid their fees, then the balance via a bank wire transfer or certified bank check. Make it clear that the bike will not move one inch until all funds are received and clear your bank!
This
:1: :1:
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An escrow service is an alternative. I've bought and sold high ticket items long distance that way. In my transactions the buyer sends the money to escrow. Escrow verifies funds and holds the money until the buyer is satisfied with the item, and then releases the money to the seller.
I bought my V7 from across the country using an escrow service, but in truth, it worked out only because both of us were honest.
I've heard of corrupt escrow services too.
A fly and ride might be an interesting option. I thought about it, and kind of wish I did it, just for the adventure.
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Fly and ride would be interesting indeed. Its a 1972 Triumph. If this guy is willing to fly to Michigan and ride it to New Mexico i would consider him certifiably insane and thus the contrat to sell probably would be binding :thumb: