Just bought a car (secret) off of eBay. What is the safest way to pay for it?

[absolutegtr]

Just bought a car off of eBay for $9k (what I bought is a secret for now until I get it and fix her up)

I have bought quite a few cars off of eBay before. But this is the first time I will be paying for it without even seeing it in person. The seller has many feedback and a positive rating and I have talked to him back and forth.

What is the safest way to pay? Obviously not wire transfer.... Does mailing a certified bank check offer me any protection?

Any advice for a smooth transaction would be great. Thanks

[bkgreene39]

Usually its that piece of shit paypal company.

[Schitzo]

I don't know what is the safest way to make the payment without being there in person but with a certified bank check you might as well be giving the seller cash. Only difference is that there is paper trail with the check.

Maybe you could find a member who is local to the car and is willing take receipt of the car on your behalf. Paypal and credit card are other options.

[Jarhed]

Just bought a car off of eBay for $9k (what I bought is a secret for now until I get it and fix her up)

I have bought quite a few cars off of eBay before. But this is the first time I will be paying for it without even seeing it in person. The seller has many feedback and a positive rating and I have talked to him back and forth.

What is the safest way to pay? Obviously not wire transfer.... Does mailing a certified bank check offer me any protection?

Any advice for a smooth transaction would be great. Thanks

Take a cashiers check to him/her. That's the way I bought both of my cars on Ebay. One while I was in CA, the car was in Miami FL. Got a cashiers check and flew to FL. Inspected the car, then handed over the check. Second one was in Phx AZ. I would like to think that most sellers on Ebay of cars would understand that. I had no issue with either seller.

The first one in Miami just wanted to see that I had a flight scheduled, which I would have had to give them anyway, since they picked me up at the airport. The second one I called and told him that I would not Paypal him that money and would prefer to bring him a cashiers check. He was cool with that, and again... sent him my flight information just to make him sleep easy knowing I would be there.

[absolutegtr]

With work and all I simply cannot close my business and take a look! I wish I could! I would love to drive my new ride home.

I think a bank check may be the way to go....

PayPal and Cred cards will charge WAY too much :(

[champaign777]

so you pay $9k based on pictures ?
Hope you do a PPI as a minimum ;)

[absolutegtr]

so you pay $9k based on pictures ?
Hope you do a PPI as a minimum ;)

LOL! Yea lets just say I am taking a leap of faith. The seller sent me videos. And guess what? The car is from NJ at that! Haha! But he "assures" me it wasnt affected by Sandy ;)

At the end of the day, I believe I got a good deal on the car and whatever needs to be fixed or is broken I will fix :D

I'm a gambler :p

PPI's are overrated :evil2


*** oh and I ended up paying via Echeck via PayPal. So hopefully some protection :/

[champaign777]

wow and from NJ a ??
all i can say you are crazy Russian roulette gambler hehe
I wish you good luck dude, post a pictures

[mcdtus]

cashiers checks are very easily created and forged with today's computers and printers. In my business, I have been presented with as many as six phony six digit "cashiers checks". They are anything but safe. Only safe way to accept payment by cashiers check is to go to the bank with purchaser and be with him or her at the counter as the cashiers check is bought and handed over to you by the bank employee. Sellers safest bet is wire transfer if one doesn't do Paypal (like me). I have been lucky having paid for four eBay vehicles (none were six digit prices for sure) without.having seen them and then having them transported to.me. Pictures and the part of the commercially available title reports that provide mileage checks thru government or dealer sources are very helpful as well as knowing something about motor vehicles. Without the latter, I wouldn't do it!

[kevinmaloe]

I wish I could! I would love to drive my new ride home. http://www.aele.info/11a.jpg

[topaz540i]

Where in nj?

[manticore33]

Ask the seller how he/she wants you to pay. I only accept cash because of the aforementioned problems with cashier's checks.

If/when you sell and wish to collect funds, you should be able to call the bank to verify funds, have the person buy the cashier's check in front of you, or do a wire transfer. Going to the bank is not a bad idea since you often need notary work anyways.

Also, when receiving funds, watch out for float. Many banks will make funds available to you before collecting it from the issuer. So, just because the money is in your account it does not mean it won't still bounce. This is especially true for banks that our not and do not do clear checks electronically. This is why on high check values some banks will put a Reg CC or extended hold on the deposit to ensure that everything clears before you access the funds.

[derekmw]

It doesn't happen to be a silver '00 M5 from Morris Plains is it? ;)

Regardless, for payment, I have gotten a loan (even if I plan to buy cash) so that the bank handles a lot of the payment/title/registration items. Since they will initially own the car, they make sure that everything is in order...of course that might be too late at this point...

[cnn]

Cashier check is safe, provided that the seller calls the bank (that issued the cashier check) on the day of car delivery and the bank is to verify on the phone that the check is valid.

I do this all the time (calling the bank to verify) and it is the proper way to do it.

Cash is a scary business, who wants to carry $9K in the pocket?

[NikosX]

Good luck

[bigjoe87865]

dang... you paid paypal fees for 9k? that is like $260 I think

I sold some bikes to out of state people that hired a shipping company. They wire transferred me the money and took a chance with me.

[bullard123]

dang... you paid paypal fees for 9k? that is like $260 I think

I sold some bikes to out of state people that hired a shipping company. They wire transferred me the money and took a chance with me.
^^^I think the buyer pays the Paypal fees. When I bought my 530i off ebay I made the initial deposit with my credit card. I then wired the rest of the money to them later from my checking account. This will show on your bank statement. Mine showed the amount and who they wired the money to as well. You can always ask them to make a handwritten or hand typed receipt for your records. The company I dealt with mailed me a whole packet with all of the papers that I had to sign and send back to them by priority mail. My copies were in the packet and they later mailed me my temp plates after all the paperwork was good. Hope this helps

[ViolinARC]

Ever heard of an "Escrow Account"? Basically the funds are held in an account under the seller's name but the funds cannot be accessed until the buyer has received and inspected the item. You may want to consider that next time around.

Can't wait to see what you bought...

[m5hoot]

Too late for a PPI and you are pretty well stuck with this car. Try to get him to take a decent deposit via paypal (at LEAST $500) and insist on cash upon pick-up and you better plan to make that trip SOON. He has every right to expect total payment within like 2-3 days. At least if he accepts the down payment, you can drive it before turning over rest of cash and then if it doesn't drive well your Ebay feedback is pretty well shot forever, but you have only $500 at risk. I can't imagine any E39 worth $9000 unless is an m5 or in spectacular condition. Nothing wrong with buying cars on Ebay, but with no PPI you have zero leverage.

[dumblucky]

im sure it will work out for you, as long as you get the shipper to pick it up asap.

me on the otherhand i would only buy from ebay if i was going to physically pick up

the car, just my 2cents, mayby i watch too much tv but rip offs happen every day in the car sales business, you just never know what seller is thinking,

[m5hoot]

I bought an M5 and a 540 off Ebay. Both deals were everything I hoped for, but please tell me you will buy an airplane ticket and at least drive it first?

[Justin517]

Escrow is the way to go for large purchases like this.

[bullard123]

Everything should be all good. That is what the seller feedback is for. Chances are if they tried to screw Him ,they would have already done it to someone else first and it would be reflected in their feedback. Normally the person who is selling the car(dealer) should have the PPi done already and should be honest upfront about what is wrong with the car. I purchased my car without a PPi done and my car was in very good shape. The only thing it ended up needing was a pasenger side control arm. If things get too crazy you can always open up a item not as described dispute through ebay and most sellers know this and the don't want to put their reputation on the line trying to screw someone over. And $9,000 for a well maintained low mileage E39 is a great price. M5's will go from the $12,500-$19,500 mark easily. Pristine E39 M5's will go even higher than that

[ViolinARC]

Everything should be all good. That is what the seller feedback is for. Chances are if they tried to screw Him ,they would have already done it to someone else first and it would be reflected in their feedback. Normally the person who is selling the car(dealer) should have the PPi done already and should be honest upfront about what is wrong with the car. I purchased my car without a PPi done and my car was in very good shape. The only thing it ended up needing was a pasenger side control arm. If things get too crazy you can always open up a item not as described dispute through ebay and most sellers know this and the don't want to put their reputation on the line trying to screw someone over. And $9,000 for a well maintained low mileage E39 is a great price. M5's will go from the $12,500-$19,500 mark easily. Pristine E39 M5's will go even higher than that

With automotive, I've been scammed by seller's with positive feedback because they would withhold the buyer's feedback and then threaten with negative, even though I paid almost instantly. This was before eBay changed the feedback rules though so I haven't had recent experience due to the fact I've been burned a few times in the Automotive section.

It should be fine as my Bro (JamesDC4) bought his 540 off eBay and was/is happy with his purchase. AFAIK, he didn't have any problems with the transaction. For future reference, an Escrow account takes all the worry out of the equation...

[dumblucky]

With automotive, I've been scammed by seller's with positive feedback because they would withhold the buyer's feedback and then threaten with negative, even though I paid almost instantly. This was before eBay changed the feedback rules though so I haven't had recent experience due to the fact I've been burned a few times in the Automotive section.
worry out ...

Funny I thought it worked the other way. As a buyer you can pay but then if you are mislead you can smak their rating on the buy,, Thusly I say the buyer if paid in full can manipulate a deal, does that make sense?

Say I bought a 2200 dollar BMW I pay in full Have the car picked up, now say I'm not quite thrilled with the car, say the sellers stated car runs and drives fine and it doesn't , I bring that to the attention of the seller. And tell him that the car needs 500$ to "run and drive fine". If he really cares about his 100% eBay rating he will cough it up. :devillook

[01Lexi]

has anyone suggested doing it through an escrow company with a contract.... therefore upon completion of title the escrow company releases funds. A $150 escrow fee would be well worth it don't you think?

just a dum girl with a great idea

lexi-

has anyone suggested doing the transaction through an escrow account with a contract? When the contract is completed, escrow releases funds... everyone is happy.... a small price to pay for pieces of mind.....
;)

jus' a dum girl with an ideer

lexi-