Payment plan???

  1. I am selling an LV cerises speedy with a BIN or best offer. I received a question from a potential buyer if I would accept $XXX.XX for the bag and would I accept a payment plan of 60 days. Has anyone ever done this before? The only way I would even consider it is if we worked it like a lay away where she didn't get the bag until I was paid in full.

    I wound up emailing her back and telling her that we didn't do payment plans, but that she may want to consider applying for credit with PayPal because they were offering deferred payment. I think I did the right thing, but I was just curious if anyone else has been asked to do this, or done it.


    Vicki :smile:
  2. I never have, but I did end up holding an item for almost 30 days (even though they never asked before winning the auction) for someone once. I usually wouldn't wait so long without filing an NPB report but everytime I contacted the guy and he kept begging for more time. It was a gift for his girlfriend, which I thought was sweet, especially since he obviously couldn't afford it, so I waited. He did pay eventually and was so grateful for my patience I was glad I gave him extra time (even though it was driving me crazy).
    However, there is no way I'd send anything until I'd been paid in full.
  3. I did this with an eBay seller a year or so ago for an LV black MC Speedy. She had me sign a contract and pay in installments. I may still have the contract; PM me if you'd like me to dig it up.
  4. Never done that. I think you did the right thing telling her to try Paypal. You're not a bank or a retail store.
  5. I have done this before as buyer and twice as seller without a problem. Do not ship until all payments are received.
  6. Thanks, Lori. I'll PM you if she contacts me again. I'm not sure if she's trying the PayPal thing or not. I haven't heard back from her. Her feedback is 300+ and something like 99.7% positive, so she definitely looks like a good buyer.
  7. I am a seller on eBay and I have accepted payment plans from buyers as my items usually are priced on the higher end.
    I do not send out items until I am fully paid. I have the buyer put down 1/3 of the price or minimum of $100 so I know they are serious. Also a time limit which is set my the seller or you work it out with the buyer.
    This always worked at in the end especially if you are going to get your price for the bag! :tup:
  8. I haven't heard anything back from that potential buyer. The listing is up for 10 days and still has a while to go, but maybe I will contact her if I don't get any decent offers. So far she actually had the highest offer. The rest have been kind of low. Thanks for your input! :smile:
  9. I have accepted payments over 30 days from a buyer before. We agreed that the amount of $50 was non-refundable incase of default or changing of the mind. Of course they get nothing until paid in full. Worked out great and she has since purchased 3 items from me - all the same way.
  10. Thanks everyone for your advice. I wound up selling the bag to someone else for the same price that the buyer who inquired about the payment plan offered, only they paid in full immediately. I will definitely keep it in mind for the future, as it seems to have worked out well for most of you.

    Thanks again!

    Vicki :smile:
  11. I have done payment plans but it just complicates things for you. I try to keep it to 50% now and 50% in 30 days. I'm cutting way back on this though because like I said - you have to set the bag aside, end the listing, and what if they don't want to make the final payment? They can file a complaint to paypal and get the original payment back and a seller would be left with nothing to show for their work.
  12. Me too. Personally, I don't think that there's anything wrong with being nice. I know I'm not a bank or a retail store, but if they have good feedback, they're communicative with you, and there are clearly defined limits of when and how, I see no problem in it.
    It's nice to know that your much-wanted item has gone to a house that really really wants it too.....(it's only been for purses, in any case).....
  13. I'm going to keep it in mind as an option for the future. I wound up selling the bag to another buyer who paid in full immediately. I would have offered the option to the original person who asked about it, but it sold very quickly after she had originally inquired.
  14. I think the $50 fee is reasonable, I'd probably do the same. At least that is going to cover your costs if they back out.
  15. I think you did the right thing. IMO if you cannot afford to pay cash, put it on a credit card or don't bid.