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Free money is over boys and girls...
Abuelo
Posts: 1,759 ✭✭✭✭✭
For the longest (as far as I can remember), PayPal use to offer this 0% interest on 12-24 months purchases on eBay. Well, no more. I got an email this morning offering an incredible "Get 2.99% APR for 12 or 24 Easy Payments on eBay". So that is it. No more free money... First, they messed up the eBay bucks, now no more interest free purchases. Such is life.
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Maybe they see inflation on the horizon and wanted to position their portfolio in anticipation of that.
I can't say I disagree with that prediction given the prices of most hard assets increasing significantly over the last 1-1.5 years.
I also think their business must be picking up so they don't feel the need to offer incentives at this point. From what I am hearing, ebay business has improved.
@Abuelo I think it was PayPal offering the promotional pricing, not ebay. But the ebay bucks thing was ebay's. So different companies.
@pruebas you are correct, as they are not (anymore) under the same ownership. But this is in association as this offer is only for eBay purchases, and both companies have been working in close association since the divorce. I guess no more.
... and now with eBay managed payments, eBay pay you directly, rather than through PayPal.
I have to disagree here. I have used the 0% financing on private transactions in the past. I think one of the incentives for paypal to do this is if you are late on 1 payment you pay a very high rate of interest on the entire transaction. Doesn't take many of these to make it a profitable venture!