How safe is Paypal Friends and Family for the recipient?

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Sold a car on Ebay last night and got a $500 deposit with regular Paypal. Buyer asked if can use Paypal F&F to pay the $9,000 balance. I know not to take regular Paypal because of chargeback risks, even though vehicles are generally excluded. What about Friends and Family payments? My concern is what if the payment is made from a stolen or hacked account? The buyer has a good and long feedback record and seems to be a senior in Florida, but who knows.
 
Don't. Paypal isn't secure in the least when it comes to things like this. Hackers get accounts like this all the time and use them just like this. Even if this guy is legit, it isn't worth the risk.
 
Paypal is secure but many of their users are older and gullible and fall for phishing scams that let them give their information away. Not hacked, but tricked and poof account is hi-jacked.

As far as F/F goes, I believe you have even fewer protections using that than normal. Likely why they want to use it, you've got no recourse. I'd be cautious here for sure.
 
With the "friend" payment option, Paypal takes a bit of a hands-off approach. They don't collect their normal cut and in turn, don't offer (much) protection. I mean, why would you need "protection" between friends ?
 
Seems like there is a market for a payment service that can finish a transaction when the buyer receives the car. Would just need to somehow protect the buyer and seller.
 
With the "friend" payment option, Paypal takes a bit of a hands-off approach. They don't collect their normal cut and in turn, don't offer (much) protection. I mean, why would you need "protection" between friends ?
It's the buyer that needs the protection. Buyers send off money to strangers and get nothing back. I'm the seller here.
 
call the guy and talk to him, Is he old? does he have any good fish stories? can he explain how to properly sharpen a knife? While talking to him does he pause to yell at the kids outside to "Get off my lawn!" :) ...wippersnappers
 
Third parties commit fraud to send money that isn't theirs to sellers. That money will then be clawed back.

Usually they don't care about taking delivery of the car at all. They would then have to convert the car to money, and until they are able to do that it's a big piece of physical evidence for the police to find.

After sending the money they will say they changed their mind and want the seller to refund them via some other channel. Or they send more than the price of the car (it isn't theirs anyway) and ask you to disburse the excess to various parties claiming they are shippers, customs brokers, etc.
 
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Sellers usually ask for this because it saves them the fees, which are not insignificant on a $9K transaction.

There's no buyer protection on the purchase, though.

I've been known to use F&F without asking when buying from a trusted seller. I have had folks I've dealt with in the past send without my asking. I never solicit, and get suspicious when asked.
 
I'd ask for a bank check. And, I'd wait for it to clear prior to releasing vehicle and title.

Paypal, IMO, is for toys/junk/stuff. I myself won't send/receive more than $1000 on paypal.

You have the deposit. Now, ask for and wait for the bank check to show up and clear. Ask for a tracking number for the check that is sent. Priority mail is great for this.

In Florida, most cars have 10-20% dealer markups with pinstripping, paint protection, fabric protection, bogus warranties... Yes, all my new cars were purchased out of state, and I plan a vacation around picking up a car 1000-1400 miles away, especially when saving~ $5000-$10000 on the last few new car purchases. Vacation is more enjoyable than overpaying to local dealers.

Used cars? most around here won't even consider a rustbelt car. Proceed with caution.
 
i believe with F&F , the sender pays the fees instead of the usual receiver. Also , there is no recourse if the seller gets nothing. 9k is a pretty big amount for F&F so i would be kinda leary about it.
 
Yes, its an option unless there is a forced time window. And, I wouldn't put myself in that situation.

You contact the buyer and request the check. And, you deliver the vehicle AFTER it clears.
 
Didn't want to assume.....is he having the car shipped? If so, ask if he has a checking account, and what bank he uses. If it's a bank that has a branch near you, have him send you a check. Go cash the check...literally walk out of the bank with cash. If they won't cash it, obviously you lose his phone number. If all goes well, ship the car.

If he's coming personally to get the car, he should bring cash with him.
 
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