Selling a Car to USA buyer
Discussion
k all until it's too late
Here are the fees charged by PayPal which you must pay on the sum received from abroad. Your buyer must pay over and above the agreed sale price -- so as to cover the cost of these fees.
The buyer may be a decent bloke, but he's also a man of some means (seeing that he owns a business). Therefore, he is easily able to provide you with payment in cash. Or payment via a standard bank transfer.
For the preceding reason, I cannot recommend a PayPal transfer. As others have noted, a PayPal transfer can quickly be reversed in favour of the buyer. This is nothing personal. Your buyer must understand that your terms are not a reflection upon him. They are simply the price of surety which you require from any transaction.
Remember: If this US buyer walks away, you will be visited by other buyers. The US buyer is not your last resort. There is no benefit to you taking on additional risk to accommodate a buyer who brings lots of question marks.
The buyer must purchase on your terms -- or not at all.
The buyer may be a decent bloke, but he's also a man of some means (seeing that he owns a business). Therefore, he is easily able to provide you with payment in cash. Or payment via a standard bank transfer.
For the preceding reason, I cannot recommend a PayPal transfer. As others have noted, a PayPal transfer can quickly be reversed in favour of the buyer. This is nothing personal. Your buyer must understand that your terms are not a reflection upon him. They are simply the price of surety which you require from any transaction.
Remember: If this US buyer walks away, you will be visited by other buyers. The US buyer is not your last resort. There is no benefit to you taking on additional risk to accommodate a buyer who brings lots of question marks.
The buyer must purchase on your terms -- or not at all.
Thanks to all for the replies. The potential buyer looks to be as good as you could hope to find: a gentle google comes up well. I am not too worried about a "not as described" chargeback - Paypal's terms are clear enough on that for vehicles - and I think that fraudulent account use is also unlikely, given the fairly relaxed timescales in this case.
My biggest concern is therefore Paypal's strangely impenetrable process for increasing account receiving and withdrawing limits: I'm getting nowhere with it at the moment. I gather others feel the same, and I don't fancy spending the next few years either buying 2p headphones off ebay to get through the balance, or fighting Paypal.
It's difficult to compare costs of transferring the funds - though the buyer would pay, regardless. As well as the headline percentage, there's the question of what exchange rate is on offer to the buyer. I believe some international transfer companies - Transferwise, Currency Direct, HiFX, Travelex, and others - offer decent rates and are FCA authorised. Anyone used one of them? Especially to receive money? I'd be quite happy with SWIFT.
The Landy itself is not a worry: it's within a few months of being old enough to be imported to the USA, and, as unsprung says, there'll always be another buyer.
Thanks for the advice: I'll make sure I don't accept an extra £2000 to pay the shipper via Western Union. As for who sets the terms: many years ago I was involved in some tense negotiations over a big technology licensing contract, when the man from across the pond threw down his draft contract saying "Buyer sets the terms, seller sets the price - but you lot want to set both". And we did, too.
My biggest concern is therefore Paypal's strangely impenetrable process for increasing account receiving and withdrawing limits: I'm getting nowhere with it at the moment. I gather others feel the same, and I don't fancy spending the next few years either buying 2p headphones off ebay to get through the balance, or fighting Paypal.
It's difficult to compare costs of transferring the funds - though the buyer would pay, regardless. As well as the headline percentage, there's the question of what exchange rate is on offer to the buyer. I believe some international transfer companies - Transferwise, Currency Direct, HiFX, Travelex, and others - offer decent rates and are FCA authorised. Anyone used one of them? Especially to receive money? I'd be quite happy with SWIFT.
The Landy itself is not a worry: it's within a few months of being old enough to be imported to the USA, and, as unsprung says, there'll always be another buyer.
Thanks for the advice: I'll make sure I don't accept an extra £2000 to pay the shipper via Western Union. As for who sets the terms: many years ago I was involved in some tense negotiations over a big technology licensing contract, when the man from across the pond threw down his draft contract saying "Buyer sets the terms, seller sets the price - but you lot want to set both". And we did, too.
a chap on the Mustang forum is doing this at the moment may be worth trying to contact him
http://www.mocgb.net/forums/showthread.php?71119-S...
http://www.mocgb.net/forums/showthread.php?71119-S...
I am not sure what you think a PayPal chargeback is, but it means the money is returned to the buyer whether you want it to be or not ....
They will NOT listen to anything you say, simply return the payment and move on, irrespective of their T&C's.
Had it happen to me .... Over something different.
They will NOT listen to anything you say, simply return the payment and move on, irrespective of their T&C's.
Had it happen to me .... Over something different.
Overseas buyer wants to use PayPal to pay for one of the most stolen cars in the country. Wake up man.
If he asks PayPal for the money back, he will get it. There is no subjective element to the PayPal chargeback process. He will ask for it, they will send it.
You will have no car and no money.
If he asks PayPal for the money back, he will get it. There is no subjective element to the PayPal chargeback process. He will ask for it, they will send it.
You will have no car and no money.
V8RX7 said:
Google "Paypal Chargeback"
Or better still post up your site, I'll buy some things and do a chargeback and you can post up how that works out.
The same charge back that can be done on a credit or debit card and yet the world revolves round payment by plastic these days without imploding due to fraudulent transactions.Or better still post up your site, I'll buy some things and do a chargeback and you can post up how that works out.
I had an unexpected £60k drop into my account one day. Showed as cleared, looked like a bank transfer. Contacted the fraud department and left the money alone. A few days later the money disappeared.
It was an over the counter payment via a stolen cheque but too all intents and purposes looked liked a transfer on my statement.
But hey, bank transfers are solid gold bullet proof guaranteed safe transactions, eh
As it happens I'd not touch a PayPal payment in this instance either. Bank transfer or cash only. However I would still have been phoning PayPal out of interest. Not now that it's clear that you're not covered for vehicle sales mind.
What's the limit on a personal fund transfer, a gift?Gassing Station | General Gassing | Top of Page | What's New | My Stuff