Tomorrow I'm going to be listing a vehicle for my great aunt and uncle on eBay Motors. It'* a 1998 F-150 with low mileage and in good condition. I anticipate it to sell at about $5,500 (at least that'* what the reserve will be).

I've never sold anything big like this on eBay. I've sold junky cars, but for cash only. What forms of payment are best for a big sale like this? I won't accept personal checks, obviously. PayPal is an option, but the fees would be killer. So, what'* left? Cashier'* check or cash? I'd hate to get burned on this...but I want to be an accomodating seller to the potential buyer'* financial situation.

Thoughts?

I would say money order or cash. A non-refundable deposit of $500 via paypal or money order within 3 days is a good idea also. That way you cover your fees should they flake out later. You could also see about a bank transfer, but that'* more tricky. I'd say cash or moneyorder for the balance on pickup.

Good point about the deposit, Geoff. That completely slipped my mind. $500 is not too unreasonable for a deposit.

I also thought about holding the title until the cashier'* check clears. But, that will probably make the buyer angry. I know it would make me angry.

Be careful with Cashiers Checks, we get fake checks with internet sales at work pretty frequently. You would be very surprised they were fake if you saw them.

My bank frowns on even accepting them because of the fraud with them.

Maybe I'll phrase it that I'll only "accept a certified check from a bank or cash for the final payment".

Good thoughts...thanks, guys!

Counterfeit chasier'* checks are are common scam. I've gotten e-mail after e-mail with those scam offers.

I agree with what everyone else said. I charged a $500 immediate deposit as well as a certified check of the balance WITHIN 7 days.

I wouldn't give them the title until the money cleared either! You shouldn't have to.