Cash on collection help please

[bazcollins191]

Hi,

I'm new to selling on Ebay and set up a vehicle sale and the only option for payment I could select was 'cash on collection'. The item has been sold via ebay this moring and on my 'order details' page it's showing awaiting payment and the actions I can take are confirm collection. I've read that the seller will be sent a code of which I add to the confirm collection when they come back to pick the vehicle up.

The part I'm confused about is do I ask the buyer to send the money on a bank transfer when they are collecting or is it done automatically through ebay. Note - the buyer offered to send me a deposit but again unsure how ebay payments work.

[tressygirl]

No,  do not accept any deposit.

The collection code applies to other items which are collected , not for vehicles.

Once the vehicle is purchased,  the buyer comes inspects,  if the vehicle and paperwork are all to their liking they pay you cash or a bank transfer there and then.  Only with the payment received , do they drive away the vehicle.

@bazcollins191 

[bazcollins191]

Hi

Noted on deposit.

Collection code does apply to vehicles - see below screen grab from the buyer. 

The buyer has inspected & has bought on ebay which is now awaiting payment on my portal and ebay have chased this so presumably this goes through ebay rather than cash/bank transfer?

[bazcollins191]

Or when they are physically here about to leave with the vehicle do they make the transfer?

[bazcollins191]

Noted on deposit.

Collection code does apply to vehicles - see below screen grab from buyer.

Presume when they come back to collect, they transfer - select payment made, select get collection code and once I recieve the £ I put the code into the account and give them keys.

[papso22]

Collection codes do not apply to vehicles correctly listed in the right category because they are only generated when a buyer pays through checkout and you can't pay for a vehicle through eBay checkout.

It's cash or bank transfer on collection. 

There is no ebay protection for sellers or buyers with vehicle sales. 

[red_magpie · Accepted solution]

eBay does not get involved in payment for vehicles.

There is no buyer or seller protection. How you arrange payment in a way which is safe parties is up to you. Payment in cash on inspection and HPI check etc. is the obvious answer, but £20k is a lot of cash to carry around!

In the early days of eBay escrow services sprung up to hold a buyer's payment securely until they had received their item, but so many were fraudulent that you never hear about it today.

Bank transfer is generally safe, but how "instant" can it be? You're not going to let the car go until you've been paid, and your buyer is unlikely to want to pay without driving their vehicle away. Maybe with mobiles these days you can make a safe, "while you wait" bank transfer, but this is not something of which I have any experience.

I have no idea how this can be resolved in practice. Maybe other responders here will be able to advise. Or ask your bank.

[plpmr]

there's nothing to show the screengrab is from eBay and where are you getting "once I recieve the £ I" from? 

[bazcollins191]

https://www.ebay.co.uk/itm/256872855814  - Pretty sure I've listed as a vehicle.

[fargvs]

As advised --- only safe payment method is when you have a definite buyer with Cash in hand or Bank Transfer is safely deposited/confirmed in Bank statement before handing over Vehicle keys/documents on buyer collection.