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| Do You Buy (or Sell) Stuff Using Layaway? | Views: 552 |
| Mar 02, 2010 5:12 am | | Do You Buy (or Sell) Stuff Using Layaway? | # |
Kurt Schweitzer | | I occasionally sell some stuff on layaway. Biggest issue I know about is that inventory is tied up until the layaway is paid in full, and if the customer backs out you have to give them most (but not all) of their money back. This is a real problem for big ticket items and long layaway periods.
What do you do?
Private Reply to Kurt Schweitzer |
| Mar 02, 2010 4:00 pm | | re: Do You Buy (or Sell) Stuff Using Layaway? | # |
greg hetherington | | I sell using lay away but most of my product is small so storage is really not an issue.
I also have an all payments are non refundable because I do sell perishable Candy items at
Maple Man(Greg)Private Reply to greg hetherington |
| Mar 02, 2010 9:08 pm | | re: Do You Buy (or Sell) Stuff Using Layaway? | # |
Reg Charie | | Can't you specify the layaway is not applied to a specific stock item but will be used to purchase the latest (greatest) when complete or nearing completion?
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| Mar 03, 2010 1:36 am | | re: re: Do You Buy (or Sell) Stuff Using Layaway? | # |
Kurt Schweitzer | | You may not have to apply it to a specific item, but you do have to have the item in stock whenever the layaway ends so it can be delivered right away. This still means that that amount of inventory is tied up during the period of the layaway.
Vehicle contracts are a bit different, because they are regulated by the state's motor vehicle department. In my case I have 30 days from the completion of payments to deliver the vehicle, if it is not already in stock. I prefer not to take so long so that the customer stays happy with the purchase.
While there are lots of "bail out" clauses in a vehicle sales contract, things are much better if they aren't used.Private Reply to Kurt Schweitzer |
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