Buying used on TB and making payments?

[Dave W]

I've done that before. My terms were the buyer send me the payments as a gift. This way there was no way for them to back out. Then we agreed on a date that the transaction would be complete...or I'd be free to sell it without refunding any money.

The buyer had to completely trust me that I'd actually follow through on all of it. My feedback helped.

I'm pretty sure that it goes against the PP user agreement but it worked well.

 

[Madhouse27]

I'll gladly pay you Tuesday...for a hamburger today - J. Wellington Wimpy

 

[inthebassclef]

I have done payment plans before. I always give a time frame from the initial payment with the clause that if not paid for in full by said date then the item is relisted and the deposit is nonrefundable. Then simply place it within the terms and conditions on the paypal transaction and all parties are covered. Have never had a problem or needed to relist. The buyer was always motivated because they did not want to loose their money. Probably done that with about 5 transactions so far.

 

[shawshank72]

Never hurts to ask!

This, but if your new and/or not name recognized I doubt you will get a favorable answer.

 

[MDBass]

Lots of people are either not reading, or simply misunderstanding, the OP.

The seller is still getting paid in full before shipping the cabinet, he'd just be accepting a 50% deposit to hold it for a period of time that they'd agree upon.

There's no risk from the seller's perspective, especially since the deposit should be nonrefundable if the balance isn't paid in the time agreed upon.

 

[guy n. cognito]

Lots of people are either not reading, or simply misunderstanding, the OP.

The seller is still getting paid in full before shipping the cabinet, he'd just be accepting a 50% deposit to hold it for a period of time that they'd agree upon.

There's no risk from the seller's perspective, especially since the deposit should be nonrefundable if the balance isn't paid in the time agreed upon.

Actually, most of us perfectly understand the situation, and and fully refuted the "no risk to seller" fallacy.

 

[maverick49]

Hey TB -
Transaction is done, so we can probably let this one go. OP came through like a champ.

 

[MDBass]

Hey TB -
Transaction is done, so we can probably let this one go. OP came through like a champ.

 

[MDBass]

So I will chime in here since the seller in question is me. This thread is interesting as it is very relevant to what the classifieds are about and the trust we may/may not have for other TBers (even 0 feedback ones).

The OP has been great communicating and I am sure we'll work something out.

So my personal policy in trading is this (this may change if I feel like it though )
1. If we have traded before, I am flexible in price and holding an item for a short period of time. Perhaps even with an earnest/good faith deposit that frankly I don't mind refunding.
2. If you are a new TBer with zero feedback, I treat the transaction just like I would through EBay or Reverb. I am happy to transact with newbies - where else will they start getting feedback?
3. I treat all transactions just like how I want to be treated - fairly, quickly, good communication. If I screw up, I take care of it pronto.

In reference to which category I fall into (and I know no offense was intended), I am none of them. I am a player first and a bass hobbyist second. I guess maybe a flipper but not in it at all for financial profit. I just love trying out new stuff (and even buying/selling the same thing several times) and the others on TB that trade a lot know that most of the time you break even or lose a little. This is the luxury of being old, having a nice steady income, and having a wife that supports the addiction as long as it doesn't get out of hand. I thank my lucky stars every day for this situation.

Cheers!

Clearly I, and a few others, should have waded in a bit farther before throwing in my two cents

 

[Double E]

I wouldn't do it with someone with zero feedback. As far as a non refundable deposit, the buyer can get that back by opening a PayPal claim for not receiving their item. Would I hold for a week for the right buyer? Sure. Would I setup payment plans for the next three months? No.

I don't believe PayPal's buyer or seller protection policies cover purchases made with partial/multiple payments. So technically a buyer who welched on an agreement shouldn't be allowed to force a refund of their deposit.

You might as well just use the Friends & Family payment if you are going to trust each other to agree to making multiple payments and dispense with the fees.

 

[Plutonium244]

I guessed its settled then... 4 pages on something that could have been resolved one way or the other by the OP taking 60 seconds composing a PM and asking. Seller will, or seller won't. It really doesn't get any easier or simpler than that, in life.

I guess it's really not the destination but the journey people enjoy here- take the long and winding road rather than the cut-across.

 

[Double E]

Hey TB -
Transaction is done, so we can probably let this one go. OP came through like a champ.

Why would you say that? This is still a viable topic for discussion in general.

Congratulations on the sale and to the OP for scoring more gear!

 

[Feral Feline]

I'm in the market for a particular new (used) cab, which I've found the best deal on right here on TB. The hangup is that i was initially looking to shop a store that would let me make a few payments w/0% interest.

I'm guessing it doesn't happen often, but is it inadvisable or in bad form to see if the seller would accept some sort of deposit to hold it, and another future payment (or 2, max) before shipping it to me?

The seller in particular has a 100% feedback rating on over 200 transactions, so I'm not too concerned on getting the shaft ... but I'd also like to know how to best word a simple agreement in this case to protect us both?

Easy-peasy

Link your Credit Card to PayPal;
vendor gets full amount immediately;
and you're instantly an indentured servant of the credit-card company.

 

[catcauphonic]

OP here, i just signed up for PayPal's 'Bill me later' as some of you had suggested, and others cautioned against. I live pretty simple without a lot of toys, & i don't have any other debt on credit, just some low monthly bills ... so i feel good about doing this one.

I appreciate everybody's input. I particularly liked @pcake 's idea of linking your eBay feedback to be a good idea for anybody in a similar situation (as i have a shiny purple star there for 100% positive 500+ transacts as both buyer and seller ) Gotta start somewhere ... since hundreds of 'likes' for posts in the Cat Thread 2016 may not be enough

Anyway, the cab is the one i previously linked and will be perfect under my Genz Benz Shuttle 6.2 for maximum window shaking or mellow practice when the housemates are home > SOLD - Genz Benz NeoX 212T w/Brand New Drivers. I doubt i was gonna find this specific one for such a good price, and i appreciate how cool & patient the seller is.

I was a little surprised at how many of you said 'no way' instantly. I tend to trust based on instinct, and it's served me well. I might think differently if i was scammed before, tho. Anyway ... thanks y'all!

 

[catcauphonic]

Easy-peasy

Link your Credit Card to PayPal;
vendor gets full amount immediately;
and you're instantly an indentured servant of the credit-card company.

Even better is using their 'bill me later' ... it's interest free for 6 months!

 

[Gorn]

Even the best intentions and a gentleman's agreement between two people each with perfect positive feedback doesn't guarantee full payment.

 

[Jay Mastro]

I actually did this for my first TB purchase, a 98 fretless Stingray piezo, the guy was cool with it, everybody is different, like people said, never hurts to ask!

 

[Feral Feline]

Even better is using their 'bill me later' ... it's interest free for 6 months!

Yeah, I'd forgot they were offering that and saw the posts about it after I posted.

I know it goes without saying but I'm just sayin': Pay off your new purchase ASAP and remain debt free thereafter!

Enjoy your cab!

 

[Spidey2112]

You betcha! It's kinda nice knowing when the checks come in, that once you pay your living expense and tax bills for the month and finish shopping for groceries, that everything else left over in the checking account is yours to do whatever you want with.

I'm just sorry we didn't stop using credit for unnecessary things sooner. Getting out from under would have been a whole lot easier if we didn't.

Several of my business clients are loaded. As in multi-millionaire (and one billionaire) loaded. And talking to them (plus some of the "Old Money" that lives in my town) I learned something about how rich folk operate. And it basically comes down to just a few 'rules':

1. Pay cash for everything. Do not borrow money or use credit lines unless it's absolutely unavoidable. And if you do, pay it off as quickly as you can. Even if it means skipping a meal or two. Interest expenses will kill you.
   
   
2. Buy quality goods that will last - and take good care of them. Replacing things is not just stupid, it's also expensive and unnecessary.
   
   
3. Never pay full retail for anything. Shop wisely and don't ever hesitate to dicker or ask for discounts. Most times you can get a price break just by asking.
   
   
4. Relationships are everything in business. If somebody gave you a good deal or excellent service, use them for everything after that and and start building up a relationship and some goodwill. Don't be a fool who is looking to save every last dollar on every purchase. You'll get better deals if you're a regular customer, and even better ones if you become friends. And if you ever need a special favor, a friend is far more likely to grant you one than somebody who you deal with on a "strictly business" basis. So look at the full relationship and not just the price tag when buying things.

There were several others. But the above are the most germane to this thread so I'll let it go with those.

I just wish somebody taught me these things when I was starting out. It would have saved me a huge amount of money and grief learning them mostly on my own later on in life.

That=Success... Our financial philosophy is shared... now, I just gotta get into the wife's bank account...

 

[Jeff K]

I've never done it as a buyer; but I've done it several times as a seller. Mostly on local sales, but I've done it twice (I think) here on TB. On all occasions, I've talked to the potential buyer (via phone if it's a TB sale) before deciding. But I've never had a problem.

If I was in a, "I need cash, and I need it NOW!" situation, of course I wouldn't do it. But if immediate cash/payment is not imperative, then I'll consider it. The buyer actually has to put more trust in ME than I do in him/her. (Feedback here on TB can go a long way in fostering that trust.) If they feel that comfort level and trust in me, I tend to help people out if at all possible.

But I'm a retired criminal investigator, so if I get a bad vibe from somebody, it's a different story. Besides, I can track you down if you screw me over...