I'm a bit of a noobie on receiving money through paypal. I'm selling one of my cars through paypal and wanted to know if there is anything I should look out for. The person is sending me $3,800 through paypal and I'm thinking I have to pay like a 3% transaction fee to get the money transfer to my bank account? Also, is there any dangers I should look out for?

Thanks all!

 

yes 3%, I hate PAYPAL!

 

Sending such a large amount with paypal can screw you (any amount can screw you, but large amounts HURT). Lets say i was the one buying your car and put $5k in your account. You sign your title to me, i drive home and then file a complaint with paypal. No matter what, paypal WILL put a hold on your account and take that money back even if you've already deposited it. IFFF they give you your money back, it will take a VERY long time and it's possible they wont. How do i know? It happend to me twice. Once just last week. Different situation, but still sucks. Buyer hadn't used paypal in over a year, then sends me $1k. Paypal thinks it's fishy and places a hold on my money AFTER i already mailed out my 06 HID's. I didn't realize they did this till after my headlights were in the buyers hands. I still use it because it's so quick, but man.. I wish there was a better way.