Buyer wants a payment play--Pros and Cons??

christylou

O.G.
Dec 28, 2007
2,374
0
Sunny Arizona
I have something listed on ebay that is over $1,000 and I received an inquiry from a potential buyer. She indicated that should would pay my full asking price if I was okay with her making payments, with the final payment being made by April 30th. Obviously I wouldn't send the item out until the last payment had been made.

So, please help me recognize the full pros and cons of this option. Thanks in advance!!
 

jenaywins

O.G.
Dec 27, 2009
19,971
5,038
Idk, you are not a bank or a lender of any sort, so I would say no thanks. If she doesn't have the money to spend on your item, then she doesn't obviously need it. There are all sorts of things that could go wrong; I would just skip the hassle altogether. JMHO.
 

tonij2000

Luvs Leather
O.G.
Mar 21, 2007
15,936
232
ShowMeState
If your buyer paid in installments, she would lose her buyer protection from what I understand. If I couldn't move an item, I'd consider a payment plan for sure. It beats listing and relisting and hoping the item eventually sells imo.
 

mmmsc

O.G.
Feb 1, 2007
9,368
30
USA
Don't do it. Do a search here about all the nightmares that ensued after this was done. You as the seller are better protected than the buyer, but still, it's just not a good idea.
 

thithi

::pretty:tough::
O.G.
^ do you have a specific link?

I just had a buyer ask me for an item that was on bonanzle... wasn't sure how to answer as well. She seems to have good feedback and it makes me wonder if she's a tpfer...

anyway, I responded that I prefer 1 payment, but if she really wants to pursue, then first payment must be by USPS Money order. I would only take multiple Paypal payments if she was a reputable pfer I know on the board.
 
Mar 10, 2006
4,334
440
52
Valley of the Sun
If your buyer paid in installments, she would lose her buyer protection from what I understand. If I couldn't move an item, I'd consider a payment plan for sure. It beats listing and relisting and hoping the item eventually sells imo.
i did this two years ago and it worked out very well i was selling an hermes bag, it was $9000, she paid my asking $ but needed two months to pay. i wanted to sell it to her, she has great feedback but was from china living/studying in the US (in my former college town so i knew she was legit from the things we knew in common and her english was impeccable, we traded phone numbers so we could disuss the terms in person BEFORE i ended the auction to accept her payment plan offer). i made her send me an email saying she agreed to the terms, a non refundable deposit of 30% then two more payments of 30% and 40% by a specified date, that every payment was a progress payment and non-refundable and that i'd ship when it was paid in full and only to her pay pal confirmed address in china. i got everything in writing and we proceeded, she paid by pay pal for both our benefit and it worked like a charm. i'd do it again for the right buyer with stellar feedback who has bought similar items before!
 

hposnm

Member
Sep 10, 2008
168
0
W.A., Australia
Here's what I would do:

U could, I suppose, ask for a small non-refundable deposit first -- $50. (Paypal can transact this as a personal request for funds.) Then if she's saved the money by 30 April, you will put it up again at a BIN and she can make a 1-time payment then, less the deposit.

Since you're even considering this, I assume you don't need the cash urgently. And IMO, it's just a month away. You don't have that much to lose yea?

Overall, I'd say the risk is all hers to take. If she's agreeable to this -- especially the non-refundable initial deposit, she must be a reasonably genuine buyer.