ebay motors auction – payment process help? how does it work? loan? wire transfer?
hangi1106 asked:
Hello,
I’m about to purchase a car on ebay(dealer).
The seller is a dealer + has good reputation/feedback on selling cars.
I have talked to the seller, seen carfax report and autocheck report and now feeling more safe/comfortable to buy this vehicle..
I got the loan approval from my lending company..
Can anyone explain to me how payment & receiving process work on ebay motors?
I think I heard that ebay holds the money until I receive the car, and then hand the money to the seller. Is this correct?
Do I mail the loan check to the seller?
Do I cash the loan check at a bank and wire transfer to the seller’s account? or to ebay?
Any help/comment would be appreciated..
Thank you =)