posted on June 16, 2004 11:58:28 AM new
I got in the regular mailbox today, a verrrrrry interesting piece of mail from ebay/paypal .... buyers can be offered deferred interest financing for 3, 6 or 12 months on total purchases over $199, and when a buyer uses the Paypal Buyer Credit, the sellers get paid in full by paypal immediately AND "assume no risk of buyer default on payments" ... hmmmph!!!
posted on June 16, 2004 12:16:13 PM new
I received an email today that states anyone purchasing & pays with P/P is covered up to $500.00 at no additiona fee. What does this cover? Does this include breakage, lost in transit etc?
posted on June 16, 2004 12:19:08 PM new
How far are we into the Two-Buck Chuck Sanmar? Quadruple post!
**********************************
Sig files are too much trouble! http://stores.ebay.com/Moody-Mommys-Marvelous-Postcards
posted on June 16, 2004 01:52:23 PM new
And....feeBay & PayThrall allow US THE SELLERS to PAY for this!!
How much does it cost to list an item with promotional financing?
The cost to sell an item with promotional financing is a percentage of the item's final total purchase amount:
No interest if paid in 3 months and no payments for 3 months for purchases over $199.00 USD: 0.50% of total purchase amount
No interest if paid in 6 months for purchases over $199.00 USD: 1.75% of total purchase amount
No interest if paid in 12 months for purchases over $199.00 USD: 3.75% of total purchase amount
12 fixed monthly payments at 12.9% APR for purchases over $999.00 USD: 0.60% of total purchase amount
24 fixed monthly payments at 12.9% APR for purchases over $1,999.00 USD: 1.50% of total purchase amount
If the item does not sell, or if the buyer pays for the item using something other than PayPal Buyer Credit, then there is no charge for the promotional financing offer. Please note that promotional MEG can BIOHA!
posted on June 16, 2004 03:30:25 PM new
but tomwii, tomwii, tomwii!... listen ... this is a 'good thing' (not trying to sound like martha stewart) for your big ticket items, where you need to list a fantastic find at a bigger bucks opening price ... cripe, you can work the couple percent paypal will snip off, into your opening bid pricing, and the shoppers that perhaps drool at your listing, will see, 'wow, i can get that for only $79 a month, instead of trying to come up with $987.65' (or more) ... and you get your money up front, and their "payments" dealing is dealt with completely off your hands ... no muss no fuss ... no chargebacks either! ... you get good money, and sayonara (sp?) goodbye, end of story .... this IS a good thing! (for your big ticket items!)
posted on June 16, 2004 03:59:23 PM new
estatesalesstuff is right. In the business world this known as factoring & is done all of the time by furniture stores, appliance shops, Circuit City, Best Buys etc. I bought my sweetie a $400.00 Digital Camera for Christmas, 6 payments with no interest.
posted on June 16, 2004 04:52:49 PM new
I don't pretend to know what 'factoring' is (I hate numbers) ... I just think this is really neat ...
I *do* wonder, being a Vendio user for our auctions, if Vendio can have that 'option' turned on OUR listing pages soon, and if not, I wonder if we will be able to add it in through editing at our ebay listing, right after launching it.
posted on June 16, 2004 05:29:57 PM new
hi estatesalestuff:
...here is one prerequisite:
"Qualified sellers can offer deferred interest financing for 3, 6 or 12 months on items that sell over $199."
further,
"Sellers who are qualified to offer Paypal Buyer Protection on eBay are qualified to offer promotional financing with PayPal Buyer Credit. At this time only buyers residing in the U.S. with a PayPal account can apply and be approved for PayPal Buyer Credit."
posted on June 16, 2004 07:03:55 PM new
I haven't read the fineprint of this one yet(and probably never will), but my thought is that while this appears to be a good thing for sellers of high priced items, I have a feeling that if certain problems arise, it's not Paypal or GE credit that will take the loss. They'll cover their a.. Like Paypal seller protection, if problems arise, in the end, it's the seller who gets it...... in the end.
posted on June 16, 2004 10:01:49 PM new
Factoring is when a merchant sells an item on a long term payment plan & sells the paper to a third party who pays the original seller a discounted price of the product.
