verboten

I just purchased a 911 through ebay and the seller wants a $2500 deposit. If the deal fall through is my money protected? What is the best Paypal payment method ie. credit card or direct tranfer? Thanks

dcdude

It's obviously easier to get your money back from a credit card than from your checking account, although PayPal really pushes the cash/checking route (they prolly make more that way.)

PayPal does have a dispute process, so you could get your money back, but that's not much protection, IMO.

My biggest issue here is that $2,500 is too much unsecured earnest money. What are the seller's risks to justify such a high amount? The ebay listing fee is only $50, right? I think $300 is more than appropriate to "hold" the car until you show up with the balance.

MarkD

Others may know more but my thinking when dealing with purchases on a smaller scale has been to use PayPal and pay via a CC.
This way I might have 2 paths to fight a problem.

That said, I haven't heard of anyone getting much support via PayPal.
A CC company might be helpful but they will rely upon the type of purchase so you might want to check with them before doing it to see if they would protect you in this situation. Get names and numbers when you do...

ilko

I only use CC through PayPal. I found out the hard way that PayPal disputes can be lengthy and you don't always get everything back. So now if a seller screws me up I start the resolution process with PayPal and then call my CC company and have them give me a conditional credit on the purchase. The CC company then takes the money from PayPal and that motivates PayPal to expedite the process, because now it's no longer my money they're fighting for, it's THEIR money!

PayPal is an excellent way to send and receive money but let's not forget that they're in it for profit. And they only make the profit if the transaction goes through. It's not in their best interest to refund your money. Just my ¢2.

Air Kuul TT

I agree... $2500 is too much for a deposit.

I found and bought my 993TT via eBay. I sent a $300 deposit to the seller with an agreement that if the PPI, leakdown, etc. didn't check out to my satisfaction or if the car was not as the seller presented that I'd ge my money back. MY PO went a step further buy offering to pay half of my RT plane ticket if the car didn't check out.

Good Luck

TRINITONY

+1 too much..I bought an SUV on ebay and never sent a deposit. What I did was send was a fax copy of the bank check.

Terry Adams

30 years ago my boss told me to never argue with someone who had my money in their pocket. I see $300 as "our" money and $2500 is "my" money.

Garth S

Sellers normally specify the terms up front: if a deposit amount was defined (and indicated refundable or not) in the language of the auction, then any potential buyer entering a bid has agreed to those terms and has entered a contract.
A buyer is also free to renegotiate any conditions with a seller prior to the end of the auction .... but whatever terms exist at the end define the contract.

So, what did the auction terms specify?

BTW - a deposit can usually be paid via an escrow account, which enhances your security.

95FL993CAB

I agree, if it was in the listing, and you "bought" it, you are stuck. If it was not, it is negotiable. I purchased my E55 on ebay and there was no deposit. I did a "buy it now" and then did an inspection.
Talk to the seller and figure it out.
Good luck
Ron

Air Kuul TT

Yes, I agree, whatever was stated in y our auction term is what you are stuck with... My auction terms asked for $300 deposit and the rest of the terms were negotiated seperately with the PO.

verboten

$1000 deposit required, and you'll love this the owner is an attorney and a surgeon.

I need someone in LV, Nevada to do a PPI. It's $400 to fly out of Chicago.

Chuck W.

This is a big investment. I say spend the money and go to Vegas Look at the car, get a PPI done and if ir checks out, buy it. You may spend a little now but you'll save yourself a lot of grief later. Good luck....