PayPal for your LT? - BMW Luxury Touring Community
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post #1 of 10 Old Aug 7th, 2019, 7:44 am Thread Starter
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PayPal for your LT?

Would you accept PayPal for your LT?

Issues?

Beninfits?

David Major
Charleston, SC
-2003 LT
-2007 GS Adventure. White
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post #2 of 10 Old Aug 7th, 2019, 8:11 am
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Re: PayPal for your LT?

PayPal has been around long enough to know it's not a scam. Once the money is in your PayPal account I can't think of a way for them to get the money returned to them after the fact. But if you are really concerned about that, then tell them you will accept it but you want 3 days for the money to be transferred into your checking account (if you have linked your checking account to your paypal account). That way the money is all the way in your account before the bike is gone. For me, I am comfortable with PayPal to accept a payment and immediately consider the trade done.
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post #3 of 10 Old Aug 7th, 2019, 1:17 pm
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Re: PayPal for your LT?

I would be very cautious. Despite PP being an well-known clearinghouse for internet commerce, there have been scams perpetrated over PP. It may have to do with how the funds are held for a period of time to protect the buyer that goods/services are received. All the 'buyer' has to do is dispute receipt of goods/services and the funds are withheld from the seller. I suggest a general internet search. See what bubbles up.
I could just be a suspicious old man and be way off base.
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-2000 K1200LT
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post #4 of 10 Old Aug 7th, 2019, 11:19 pm
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Re: PayPal for your LT?

NO, it is a scam.

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I change your tires $50, you buy them on the web.
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post #5 of 10 Old Aug 7th, 2019, 11:21 pm
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Re: PayPal for your LT?

I would not want to pay paypal fees on that much money.
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post #6 of 10 Old Aug 8th, 2019, 5:28 am
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Re: PayPal for your LT?

Cash is King, but problematic on a long distance sale...what about American Express Travelerís Checks? Authenticity can be verified and funds transfer pretty fast.
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post #7 of 10 Old Aug 8th, 2019, 7:45 am
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Re: PayPal for your LT?

No way, if they cant bring cash they can look for another bike.
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post #8 of 10 Old Aug 8th, 2019, 8:07 am
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Quote:
Originally Posted by wichitagreg View Post
I would not want to pay paypal fees on that much money.
The buyer can pay the fees, just require they do so. I'm just saying PayPal is the standard for paying for things on eBay and lots of retailers accept payment through them as well. In fact when I pay my county taxes I am paying through PayPal and I pay the fees there as well. They have a page discussing ways people use PP to scam others.

https://www.paypal.com/us/webapps/mp...y/common-scams
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post #9 of 10 Old Aug 8th, 2019, 12:29 pm
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Re: PayPal for your LT?

Quote:
Originally Posted by SHIfTHEAD View Post
The buyer can pay the fees, just require they do so. I'm just saying PayPal is the standard for paying for things on eBay and lots of retailers accept payment through them as well. In fact when I pay my county taxes I am paying through PayPal and I pay the fees there as well. They have a page discussing ways people use PP to scam others.

https://www.paypal.com/us/webapps/mp...y/common-scams
In Canada we have Interac email money transfer. You log into your bank and send the email money transfer with a pre-arranged security word to the person you need to send the money to. They receive an email and have to login to either their own Bank or the Interac site where they can complete the transaction with the security word. Once the transaction is accepted you will get notified it was completed, and there is NO way to get the money back. Depending on your bank there may be a $1.50 fee or it may be free. But it only works between Canadian banks at this time.

I am surprised that there isn't something like that in the US, paypal takes way to much in fees.

Either way be careful that you get real money before you release the bike to somebody.

Current Bike:
2006 BMW K1200LT purchased June 2014, and loving this thing so far!
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post #10 of 10 Old Aug 8th, 2019, 5:24 pm
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Re: PayPal for your LT?

Quote:
Originally Posted by SHIfTHEAD View Post
The buyer can pay the fees, just require they do so. I'm just saying PayPal is the standard for paying for things on eBay and lots of retailers accept payment through them as well. In fact when I pay my county taxes I am paying through PayPal and I pay the fees there as well. They have a page discussing ways people use PP to scam others.

https://www.paypal.com/us/webapps/mp...y/common-scams
Having the buyer pay the PayPal fee even if you don't call it that violates PayPal user agreements.

4.5 No Surcharges. You agree that you will not impose a surcharge or any other fee for accepting PayPal as a payment method. You may charge a handling fee in connection with the sale of goods or services, as long as the handling fee does not operate as a surcharge and is not higher than the handling fee you charge for non-PayPal transactions.

I don't accept PayPal for anything over $500 that I sell, and try to not use PayPal to pay for anything over $500. I can usually work out a discount if I contact the seller, and give one if I'm the seller.

In any event a vehicle transaction must be face to face with title and money in hand.
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