eBay

cybersupply29 · ‎08-08-2023

I'm seeking advice on selling our SUV through eBay Motors. Recently, I hosted an auction for my wife's SUV, but the winning bidder mysteriously disappeared. In response, I extended a second chance offer to several other bidders, and one of them agreed to buy it (BUY IT NOW). The buyer promptly sent a $500 deposit via eBay after purchasing, but then requested to wire the remaining balance to my bank account. Following that, he wants me to overnight the title to him, after which he will organize shipping. This raises a significant concern: if you were buying a car, wouldn't you want to see it in person first? He asserts that he can't leave his work to travel from Colorado to Florida to inspect the vehicle. I'm confused and uncertain about this bank wire process, and I don't want to share my account information; I've come across numerous opinions, but what are the real risks or recourses in this situation?

skate_man1000 · ‎08-08-2023

I am getting red flag vibes all over.

fab_finds4u · ‎08-09-2023

Yes, that is fine. VPP says the financial institutions sending and receiving the payment must be in the U.S. Western Union is not safe. A BANK wire transfer is safe for the seller. Once it's sent it can't be recalled. The information for the wire transfer is the same numbers on a check. An alternative is paying through escrow.com.

Do not send the title until you receive the payment.

soh.maryl · ‎08-09-2023

Sorry, am also getting red flag vibes here. Wouldn't anyone feel the same way about a buyer who does not plan to inspect the vehicle, sends a deposit and also plans to "organize shipping". ? What's his plan if it turns out this car is a piece of junk and doesn't run? Does he know the MBG doesn't apply to motor vehicles on eBay. Having a car transported across the country is not cheap.

And, guess I'm dumb about banks also, but wouldn't he have to have your actual bank account info to have money deposited in your account?

fab_finds4u · ‎08-09-2023

eBay has a Vehicle Protection Policy. To be covered the buyer needs to pay with a check, bank check (cashier check) or a bank wire transfer. They are doing exactly as the policy states. There's no danger to the seller if it's a bank wire. That type of payment cannot be taken back.

The numbers on a check you write have your account number on it so giving it to the buyer is no less safe than when you pay anywhere with a check.

cybersupply29 · ‎08-09-2023

Thank you for the comments. I may just open a separate account just for transfers and document everything along the way. Also, shipping across country is expensive, I will be conducting a pre-shipment inspection from a third party to prevent any shanigans.

soh.maryl · ‎08-09-2023

Yes, shipping across the country IS expensive, which I believe I mentioned in my first reply.

YOU will be conducting (and paying for) a pre-shipment inspection?

What "shenanigans" do you expect to prevent?

Now that someone else explained about the wire transfer, am now more comfortable about that.

But still a little worried about the general gist of this transaction.

soh.maryl · ‎08-09-2023

Thank you for that explanation. So this whole scenario doesn't make you just a little bit anxious?

cybersupply29 · ‎08-09-2023

I try to imagine worse case scenarios and plan accordingly, for example:

-buyer tries to stop/reverse wire after receiving title.

Bank wire is a one way trip. Having a separate account number prevents any future fraudulent withdrawals, remove money as soon as the wire hits -> then send title.

-buyer claims didn’t receive vehicle.

3rd party carrier responsible (buyer paid ) so tracking will be provided and condition will be documented before leaving .

-buyer claims vehicle was not as described

Condition was disclosed to the best of ability. Buyer responsible, didn’t want to pre inspect vehicle before purchase. All sales are final?

Did I leave anything out?

fab_finds4u · ‎08-09-2023

Order an inspection before paying. VPP covers you if you pay and don't receive the vehicle. They don't pay for title issues. Just make sure the vehicle is listed on eBay and you won it on eBay you didn't find it on a non eBay site.

cybersupply29 · ‎08-09-2023

Quick update - went to the bank today to open another account only with the purpose of wire transfers. The teller did tell me that routing numbers were different for wire transfers, which I didn’t know before. So, we will see how all this turns out, and will update accordingly!

albertabrightalberta · ‎08-09-2023

This makes me nervous too.

When the buyer sends you whatever "receipt," go to your account either online or call the bank to verify that the funds are there. (My concern is that you may get a fake "receipt" similar to the type of Paypal fake receipts.)

If your bank verifies that the money is actually there in your account, check with them to ask whether it can be charged back (or whatever term they use for wire transfers).

albertabrightalberta
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