An idea for ebay to consider

[peternt2001]

Over my time on ebay, i have purchased a few high priced buy it now items, from sellers. I have contacted them before the end of the selling period and have asked if they are prepared to enter into a layby situation for a high priced item. The sellers has been happy to accomodate such a request, in all cases it is normally only over 4 weeks for items over $1000. I have been happy with getting high priced items and not having to outlay all the cash at once, and i think the sellers have been happy to have sold their product with not too much fuss.

I just wonder if this might be a feature for ebay to consider offering sellers and buyers for items over a certain price, that are also buy it now. With the economic times like they are, more and more people are not parting with large amounts of money at once for what can seem like indulgence products, and are starting to become reluctant to put it on a credit card.

I just thought this could be a feature that may help sellers sell more, and give buyers more opportunity to buy more using cash instead of credit.

[janeababe]

Well.... I think its a fantastic idea! 😛

The upside is being able to make (eg) 4 x easy payments over a 30day period.
The downside would be added paypal fees.

Overall, I think its a feasable idea, and with some secure lay-by terms in place, it could become a real option.

Ebay will soon have to do something, the *other* selling websites are starting to pick up in a big way and this could be just one, relatively easy to introduce, way of bringing back the crowd 🙂

Well done for the idea 🙂

[patchoo78]

Some people can't budget. They could possibly spend the money on something else if they weren't locked into a loss if they renege. Laybys budget for them.

Yep, that's me.. I would be too tempted to dip into the money for something else...

Also there may be something that I want that is only in stores for a short time, and if I save the money it might not be there by the time I get the money together

[wickedfezplayer]

A few of the big companies are starting to do laybuys online. I have a christmas laybuy with Big W now. It's really cool they send you a reminder a few days before to tell you that the payment will  be deducted from your bank on such a day plus give you a rundown of your payments.

I did it with big W last year as well and I had no problems.

If PayPal could do it like that via eBay I would use laybuy and offer it in my stores.

[***super_nova***]

When we had a B&M shop every week we had to sort out "out of date Lay-by" items.  Now with CCs lay-by is passe; just because some people still use it, does not mean it is good practice.  As far as I am concerned, if people cannot pay for it now, they cannot afford it, and it is very likely they will not pay it off.  I do not want their item sitting here gathering dust for 4 weeks, only to be told they do not want it/cannot afford it anymore.  It would not give me pleasure to keep their deposit, as obviously they would be people who do not have much.

[***super_nova***]

I did it with big W last year as well and I had no problems.

If PayPal could do it like that via eBay I would use laybuy and offer it in my stores.

That would mean whole new administration, and how would they then deal with items not received or not as described?  They would have to extend the claim period.    It would be a nightmare.

[tastiger1]

The US Ebay site runs a BUY-IT -NOW, PAY-LATER scheme where it seems Paypal US has linked with a American Bank to offer buyers a deal for items purchased on Ebay over $400 can be paid for in 6months without interest - it goes on up to 18 months with 20% interest charges. Only catch is you have to live in America. Perhaps Paypal Australia could get some money-hungry Aussie Bank to link up with them to offer the same deal - Paypal should have no trouble finding one to fit that criteria, although the 6 months no interest deal would be troubling.

[peternt2001]

It is a start, but i still dont like spending money i dont have on impulse purchases, thats why i mentioned the lay by possibility in the first place. If i wanted to i could be like the majority of the population and put stuff on credit card, but i like the feel of layby, feels like you are working towards something and being rewarded at the end.

The whole buy it now and pay for it later, i think could lead to a huge trap for a lot of people, who decide they want to go on a spending spree on ebay, or who can no control their spending impulses and need something as soon as they see it. Sort of like the whole harvey norman thing 40 or 50 or 60 months interest free, and then when the person doesnt pay it off on time they get hit with back charges and astronomical interest rates.

The lay by was just an idea, i am sure it wouldnt suit a lot of buyers and would suit others.