Anyone been asked to to payment plan on ebay?

shu4040

Someone pm ed me on an item and asked to do a 6 month payment plan? First time for me. Is this a scam? Seems like a headache but as a seller he has recently sold a decent prices bbce box so not sure what to make of it

baz518

I wouldn't do it, I would tell him to buy it with PayPal Credit... they offer 6 months, no interest (plus extra 1% in eBay bucks) on items over a certain amount.

brendanb438

Through eBay this would be a hell of a headache.

Through say these boards or another collector forum I have done "timed payments" many times for fellow members. They would split it up over 2,3 or 6 payments whether 1 a month or every 2 weeks. To protect yourself you should have them do it via PP gift if you ever go this route that way when it is paid in full and you go to ship the item you are not stuck with the problem of 1 tracking # all of a sudden for multiple payments over a few months.

If you can somehow move communication off eBay with the person this is how I would handle it. Not saying you should or shouldn't try to move it off eBay but you do not want to try and do a payment plan through eBay.

MantlesMantra

IMO a collector shouldn't need a payment plan for a collectible if it's within their budget.

CollectorAtWork

I've done this before but just do this off eBay. For example send six different invoices via PayPal marked 1/6, 2/6..., 6/6 and put in the terms that the item will only be shipped after all six invoices are paid. Or better yet that you will only accept check or money order for the payment plan. I'd only do this for inventory that you don't expect to sell at that price in the next six months, otherwise this is too much of a pain. Maybe you can negotiate it down to a 2-3 month payment plan. Also if he changes his mind after a couple payments you'll have to refund him so you can't spend that money too soon either.

charrigan

Key points have been hit already:

-- it doesn't work *through eBay*, you have to do it outside that venue

and

-- only ship when paid in full

MantlesMantra

<< <i>Key points have been hit already:

-- it doesn't work *through eBay*, you have to do it outside that venue

and

-- only ship when paid in full >>



Definitely only ship when paid in full, and keep it listed until it is. If someone else buys it outright then refund the other buyer what they paid.

bishop

Seems like I see a lot of BINs these days that offer a payment plan as part of the offer. I have never accepted one but some sellers seem to use it as an inducement on larger priced items.

shu4040

Thanks for advice. Do I require say 10% if he defaults?

SultanOfSwat

<< <i>Thanks for advice. Do I require say 10% if he defaults? >>



I would make sure the deal would involve a security blanket so I would come out with something if the buyer goes back on his word. If the buyer is serious and you explain the situation to him up front, I don't see why he would have a problem with that.

vintagefun

I wouldn't do it unless it was lay-away and you ship at completion of payment.

But even that's a headache.

OAKESY25

I have done it with a couple buyers with no problems.
Actually the last one paid around $400 of $500 as agreed. Then disappeared?? Never returned emails.
Maybe passed away?? I don't know.
I retain possession of the cards until paid in full and require min $100 non refundable deposit.
I set up installment payment dates as agreed upon.

dennis07

Personally I wouldn't do it!

thenavarro

I sell stuff on payment plans all the time. Many times to people on this board. Easy way to sell stuff, and as long as you don't have cash flow issues as the seller, works fine. We usually agree to 25% non-refundable payment up front and then I'll work with them on payment plans. Has led to many repeat buyers.

Just protect yourself by keeping the item until paid in full, and be smart about what payment method you accept, so you don't get the royal screw job by Paypal. I personally wouldn't do it for an ebay sale though, and would make them contact me off ebay instead. You can easily get them your contact info, even through ebay messages, by taking a pic of the item and putting your business card in the pic as well with your email and/or phone number.

Mike

SultanOfSwat

<< <i>I sell stuff on payment plans all the time. Many times to people on this board. Easy way to sell stuff, and as long as you don't have cash flow issues as the seller, works fine. We usually agree to 25% non-refundable payment up front and then I'll work with them on payment plans. Has led to many repeat buyers.

Just protect yourself by keeping the item until paid in full, and be smart about what payment method you accept, so you don't get the royal screw job by Paypal. I personally wouldn't do it for an ebay sale though, and would make them contact me off ebay instead. You can easily get them your contact info, even through ebay messages, by taking a pic of the item and putting your business card in the pic as well with your email and/or phone number.

Mike >>



Good advice.