Using paypal to pay for vehicle..

[MX450]

If I use paypal to send money to an individual to pay for part of a vehicle, and use my credit card, will that be considered a "cash equivalent" transaction and result in the "cash advance" APR??

I have heard if you send the money for "goods" it will be a regular credit card transaction..

[06typeS]

I think no matter what option you choose in paypal it still processed as a standard credit transaction.


Just be careful sending a lot of cash over paypal

[CJM]

Yea you can pay partial with paypal and the rest with a card.

I honestly wouldnt do it, I rather see the car up close and check it out before doing anything.

[MX450]

its a local deal, want to pay some cash and about 3k with a credit car to an individual. zero interest for a year vs high interest personal loan

[quad2xtreme]

Originally posted by MX450
its a local deal, want to pay some cash and about 3k with a credit car to an individual. zero interest for a year vs high interest personal loan

If the credit card is not a Paypal Visa card then either you or the seller will pay a 2.9% fee to Paypal for the transaction.

Go to paypal site and look up the charge structure. It is only free if pulled from your bank or a Paypal credit card.

I have no idea how your credit card company will view the transaction. I pay my credit card off in full twice per month so I don't pay attention to interest rates or cash advance fees, etc.

[MX450]

i am aware of paypal fees, i am just trying to see if anyone has done this before.

basically a "cash advance" or "cash equvalent" transaction with result in high interest rates on my card, but a "purchase" has zero interest for 1 year.

i guess ill just call capital one, but then again some goon might answer the phone and just tell me sure whatever so ill go away