Layaway

[emerald40]

This was brought up by another poster asking if a seller could offer layaway.  I believe most told him no, it was not possible to do so.

But I have seen it offered in the fine diamond jewelry categories, and here is one example of how a seller is choosing to handle it.

Layaway Plan

Choose which plan you wish to use from the three below:

1. I just want to delay my payment". Delayed payment (buy it now but take up to two weeks to pay)

2. One Month Plan (payments divided into 2 parts and invoices sent every two weeks.)

3. Two Month Plan (payments divided into 4 parts and invoices sent every two weeks.)

We will send you invoices directly to your paypal account. No interest is ever charged and you may pay off as early as you like.

Please note that once you've placed an item on lay-a-way, it is not refundable.

[tunicaslot]

em - the concept is great - but it won't fly here. As I said sellers are already upset with the "micromanaging" and there would obviously have to be ground rules and policies to abide to - not only that - it would alienate buyers if they lost money here if they didn't finish paying. 

I don't know how things are now - but when I did layaways - you pd weekly - got your order out by xx date and if there was something you already found elsewhere - could turn around and just return it.

Here a seller is mailing the items and then buyer hopefully claiming - just don't like it and mailing the item back on their $$.

[emerald40]

---

@tunicaslot wrote:

em - the concept is great - but it won't fly here. As I said sellers are already upset with the "micromanaging" and there would obviously have to be ground rules and policies to abide to - not only that - it would alienate buyers if they lost money here if they didn't finish paying. 

I don't know how things are now - but when I did layaways - you pd weekly - got your order out by xx date and if there was something you already found elsewhere - could turn around and just return it.

Here a seller is mailing the items and then buyer hopefully claiming - just don't like it and mailing the item back on their $$.

---

It is already flying here.  I believe someone did a search checking description box and 4,000 sellers are using it.

I bought an item that way before ebay credit was offered.

[missjen831]

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

I agree. Also, something I don't understand--please no one throw stones at me for this but--why can't people just save their money? Why make payments to the retailer when you can just save the money and shop when you have the cash in hand? We were not rich growing up. My parents lived paycheck to paycheck. The only way we were able to afford a christmas was because my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for. I understand that some things "may not be available" but this is material objects.....save your money and your kids get what they get.

[missjen831]

---

@emerald40 wrote:

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

As I said it is another tool in a sellers bag to move merchandise. 

And the seller keeps the money you paid on it already for his troubles. 

And I remember my mom and grandma having Christmas clubs for our Hanukkah gifts.

---

If the sellers take paypal I doubt the they will get the keep the money they received......paypal no longer requires the purchase to be paid for in a single transaction.

[emerald40]

---

@missjen831 wrote:

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

I agree. Also, something I don't understand--please no one throw stones at me for this but--why can't people just save their money? Why make payments to the retailer when you can just save the money and shop when you have the cash in hand? We were not rich growing up. My parents lived paycheck to paycheck. The only way we were able to afford a christmas was because my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for. I understand that some things "may not be available" but this is material objects.....save your money and your kids get what they get.

---

The way your parents did it was one way.  So did mine.

But I believe you have to have a relationship with a bank to open it.

Many poor people do not, they have to use a check cashing store to cash their paycheck.

So for them, layaway is the way to go.

Others may live in unsafe neighborhoods or with questionable family members so keeping money at home might not be a good idea.

[partial*eclipse]

---

@missjen831 wrote:

---

 ... my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for.....

"Christmas club" accounts are in effect enforced savings accounts that  pay little or no interest (and which often have a severe penalty for early withdrawal of funds, for emergencies), whereas with  layaway the buyer is essentially borrowing money (i.e., the total purchase price)  at no interest.

The best strategy financially would be to put the Christmas money weekly into an interest-bearing account, then put the gifts on layaway and pay it off as slowly as possible, withdrawing funds weekly only as needed.

[missjen831]

---

@emerald40 wrote:

---

@missjen831 wrote:

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

I agree. Also, something I don't understand--please no one throw stones at me for this but--why can't people just save their money? Why make payments to the retailer when you can just save the money and shop when you have the cash in hand? We were not rich growing up. My parents lived paycheck to paycheck. The only way we were able to afford a christmas was because my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for. I understand that some things "may not be available" but this is material objects.....save your money and your kids get what they get.

---

The way your parents did it was one way.  So did mine.

But I believe you have to have a relationship with a bank to open it.

Many poor people do not, they have to use a check cashing store to cash their paycheck.

So for them, layaway is the way to go.

Others may live in unsafe neighborhoods or with questionable family members so keeping money at home might not be a good idea.

---

But layaway isn't the only way to go. You don't need a relationship with a bank to save money. 

[emerald40]

---

@missjen831 wrote:

---

@emerald40 wrote:

---

@missjen831 wrote:

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

I agree. Also, something I don't understand--please no one throw stones at me for this but--why can't people just save their money? Why make payments to the retailer when you can just save the money and shop when you have the cash in hand? We were not rich growing up. My parents lived paycheck to paycheck. The only way we were able to afford a christmas was because my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for. I understand that some things "may not be available" but this is material objects.....save your money and your kids get what they get.

---

The way your parents did it was one way.  So did mine.

But I believe you have to have a relationship with a bank to open it.

Many poor people do not, they have to use a check cashing store to cash their paycheck.

So for them, layaway is the way to go.

Others may live in unsafe neighborhoods or with questionable family members so keeping money at home might not be a good idea.

---

But layaway isn't the only way to go. You don't need a relationship with a bank to save money. 

---

I am trying to be careful in my wording.  You have people who cannot produce ID, might not drive or may be illegal.  So opening up a  bank account is not an option.

[papermoneyforme]

---

@emerald40 wrote:

My husband'd first job in the late 70s was working at Household Finance.

He would tell me how sleazy their practice was.

---

Now Now, I worked for HFC starting as an acct rep and worked my way up to manager.

They were only as sleazy as the borrower. We had many great borrowers that came back constantly.

I also worked for Avco and same situation.

Also got the best training in the industry. Banks loved to hire finance company staff because of their training.

There are good and bad employees in every industry just as there are good and bad consumers in every industry.

It all depends on people's priciples and mind set.

[papermoneyforme]

---

@emerald40 wrote:

---

@omgitlightsup wrote:

It sounds absolutely horrifying to me.

It would extend the process of selling an item by some arbitrary amount of time.. months maybe?

And so 2-6 weeks more of your item being locked out of the market by eBay.. maybe your buyer will pay, maybe they won't. Maybe they'll come up with some way to get all their money back, even the deposit, just like buyers can back out of nearly any purchase and get the seller to pay shipping for a "free rental" today.

And it adds 2-6 more weeks of stressing out over what is already giving some sellers night sweats.. especially with valuables. 

If you want to buy jewelry online and pay for it later, get a credit card for pete's sake. There's an eBay one even, I bet it gives you cashback for shopping here or something.

I mean maybe I'm just in the Halloween spirit here but that just sounds awful to me. The internet is for future shopping. Pay instantly, get it instantly. You click on it and it's yours. Layaway is a mechanism for dusty old B&M shops. It doesn't even mean anything on the web. An item on "layaway" could just be holding a lower priority slot in their JIT inventory system, like a soft inventory. eBay needs layaway like the iPhone needs a coin slot.

---

Sellers do it with multiples, I am sure they are not tying up one of a kind items.

And if he makes some payments and does not finish, they are non refundable and you still have the item.

And get a credit card - easier said than done if you do not have a good enough credit history.

I work a Christmas job.  I cannot tell you how many parents are so greatful that they can put a little money down each week, and then collect the toys they put away.  So many could not afford to do it otherwise.

---

If you are going into the Layaway business, you had better have a license and written contract in case of a dispute. It will be worse than an Ebay dispute.

Do you really think Ebay will allow emails between buyer and seller in regards to a Layaway. No easier way to get kicked off.

[castlemagicmemories]

---

@emerald40 wrote:

It might be the only approved way, but it is limited to those who qualify.

Not everyone can get a standard credit card, but you can start with a debit card, and then if all goes well maybe a credit card with a very low limit.

If paypal credit advances you the money and you immediately get the item, you could just disappear leaving them with the outstanding debt.  

But with layaway, it is easy for a buyer to qualify.  He makes payments and when it is paid off (not before) he gets his item.  And if he does not, the seller keeps the item and all payments made thus far.

And I agree with the other poster, Trinton never said if it was allowed or not.

---

---

@emerald40 wrote:

It might be the only approved way, but it is limited to those who qualify.

Not everyone can get a standard credit card, but you can start with a debit card, and then if all goes well maybe a credit card with a very low limit.

If paypal credit advances you the money and you immediately get the item, you could just disappear leaving them with the outstanding debt.  

But with layaway, it is easy for a buyer to qualify.  He makes payments and when it is paid off (not before) he gets his item.  And if he does not, the seller keeps the item and all payments made thus far.

And I agree with the other poster, Trinton never said if it was allowed or not.

---

That's true, not in so many words, but he did recommend PP Credit if anyone was looking for a layaway type situation.

@Anonymous

Surely hate to bother you again but there is some confusion as to whether or not Ebay does allow layaway.  While your post recommended PP Credit, it did not specify one way or the other as to whether Ebay allows layaway by sellers.

Could you address this?  Thank you!!

[castlemagicmemories]

There is also the high probability that the buyer will become disenchanted with the purchase and stop paying on it, and ask to get his money back.

[missjen831]

---

@emerald40 wrote:

---

@missjen831 wrote:

---

@emerald40 wrote:

---

@missjen831 wrote:

---

@tunicaslot wrote:

Right now - the only stores I see as having online layaway are Sears, Toys R Us and Kmart. When the kids were little - I used layaway at Hills all the time - but we're talking about an online venue with millions of individual sellers and each would want to have their own layaway policies. It's hard enough informing people about Ebay policies - let alone all the hassle individual layaway policies would cause.

You might have buyers deciding not to take an item because they found it cheaper on Black Friday at their Walmart B&M - whereby the seller has pulled that item out of the inventory as it's supposedly sold.

Not a good idea in my opinion - if you want layaway - go to a B&M - better yet start a Xmas Club and then you'll be able to pay cash when you start shopping.

---

I agree. Also, something I don't understand--please no one throw stones at me for this but--why can't people just save their money? Why make payments to the retailer when you can just save the money and shop when you have the cash in hand? We were not rich growing up. My parents lived paycheck to paycheck. The only way we were able to afford a christmas was because my mom had $25 deducted from each pay check & put into a special account at the credit union all year long, it was called the "christmas club" or something like that. And then in December she cashed it out & thats how our christmas was paid for. I understand that some things "may not be available" but this is material objects.....save your money and your kids get what they get.

---

The way your parents did it was one way.  So did mine.

But I believe you have to have a relationship with a bank to open it.

Many poor people do not, they have to use a check cashing store to cash their paycheck.

So for them, layaway is the way to go.

Others may live in unsafe neighborhoods or with questionable family members so keeping money at home might not be a good idea.

---

But layaway isn't the only way to go. You don't need a relationship with a bank to save money. 

---

I am trying to be careful in my wording.  You have people who cannot produce ID, might not drive or may be illegal.  So opening up a  bank account is not an option.

---

Um...what does have to do with what I said? You don't need anything but a cookie jar to put money in said cookie jar. Or a mason jar. Or a pub mix container. That is what I was talking about--an old fashioned savings account. if you have money to pay a major retailer every few weeks then you have money to set aside in the cookie jar. Or are you implying that those that fit the description you gave are too irresponsible to save money?

[castlemagicmemories]

Do they still have Christmas Clubs?

I thought they did away with them in the 80's.  Seriously.

[emerald40]

---

@castlemagicmemories wrote:

There is also the high probability that the buyer will become disenchanted with the purchase and stop paying on it, and ask to get his money back.

---

Stated right in the layways I have seen, all payments made are not refundable.

I actually bought my last diamond ring here that way on layaway in a store, person did not make all the payments, so he relisted it here with offers.  and because he already received money for it I was able to get it at a good deal.