Payment plans?

From everything I have seen/experienced, the standard for most bigger breeders seems to be 25% down, the balance to be paid within 30 days. For snakes over $500, some do 45 days. Over $1,000, and a particularly nice breeder might do 60 days.

Bottom line is how serious does the buyer seem ? They can put down the required down payment easily, and ask for a month or two to break the remainder down is good. They hem and haw about the down payment and then say it will take a couple of months or so to pay the rest, I'd pass.

Gale

I accept 25% down (non-refundable) and the balance over 60 days. When someone makes a payment on a snake, I send them an email outlining the deposit is non-refundable and when (the exact date and time) that final payment is due. If you do payment plans, make sure that they are clear and in writing.

I do 25% down non refundable and 60 days unless the buyer convinces me of longer, which has happened :rolleye2:

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Originally Posted by h00blah

How do you go about this? Several people made me offers on my pastel het clown girl, but most of them want to do a payment plan. I'm going to ask for a non-refundable down payment, but then how many months should I hold her?

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That's what I do

30 Days (Minimum purchase of $200.00*)
60 Days (Minimum purchase of $400.00*)
90 Days (Minimum purchase of $800.00*)

And I require a 20% non refundable deposit.

This isn't a slam against the seller, money is money, but I've never understood a payment plan for a, I don't know, $500.00 snake. If your that broke that you can't come up with $500.00, you probably shouldn't be buying a snake......

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Originally Posted by Trochu

This isn't a slam against the seller, money is money, but I've never understood a payment plan for a, I don't know, $500.00 snake. If your that broke that you can't come up with $500.00, you probably shouldn't be buying a snake......

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Alot of people don't have $500 or $1000 just laying around to buy a new snake with. If they are in the process of saving for a snake and then they fall in love with one they see it gives them the opportunity to put a deposit on the animal and continue to pay for it so someone else doesn't buy it. Or if they know they will have some additional income coming in the near future(tax returns).

As a seller it makes perfect sense to offer payment plans as long as the terms are understood by both sides and the buyer doesn't want some crazy long term plan.

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Originally Posted by Trochu

This isn't a slam against the seller, money is money, but I've never understood a payment plan for a, I don't know, $500.00 snake. If your that broke that you can't come up with $500.00, you probably shouldn't be buying a snake......

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Ha ha, I've accepted payment plans for as little as $130 for a snake. If someone is going to put a 25% nonrefundable deposit, then there is little chance they are going to not pay the rest for such a small purchase. It creates good will and gives you 60 days to develop a relationship with a buyer (I email when I feed or there are other developments). I'm sure that those folks who use the plan, will remember that I worked with them and will return if they are in the market again.

People may be broke, but it doesn't mean they are poor forever. I'd rather have a good return customer than quibble over the payment plan. In fact, there have been some situations where I refunded the deposit because of extraordinary events.

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Originally Posted by C&H Exotic Morphs

Alot of people don't have $500 or $1000 just laying around to buy a new snake with. If they are in the process of saving for a snake and then they fall in love with one they see it gives them the opportunity to put a deposit on the animal and continue to pay for it so someone else doesn't buy it. Or if they know they will have some additional income coming in the near future(tax returns).

As a seller it makes perfect sense to offer payment plans as long as the terms are understood by both sides and the buyer doesn't want some crazy long term plan.

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Oh I understand the concept of a payment plan, I just don't understand why people are buying snakes if they have to scrimp and save to come up with $500.00. Seems to me they likely have better uses they could put their money towards. Maybe I listen to too many financial talk shows, then again, maybe the average US household debt is approaching $100k.

25% down and 30 days

sorry trying to figure out how to reply to this.

I'll go with my personal view. I would rather stretch any payment for a snake over a couple of weeks for a few reasons.
1.) When trying to maintain my lack of debt, it's important to establish a good buffer of income incase of emergency expenses, and savings just because I have the option to drop a good percentage of my paycheck on a snake does not mean I want to, and honestly if that person(s) is maintaining their life well, there's no reason that a snake isn't a good investment of their money.
(basically I doubt snakes are causing the 100$K debt per house).
2.) If you're new to the scene, like I am it allows you to establish a good relationship with your seller, something that I believe to be priceless regardless of what you're buying (for instance I was able to call the guy I bought my car from and ask him some questions after he had no obligation to help me and he was nice enough to answer because we had established a buyer/seller relationship)

sorry, that might be a little long winded.

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Originally Posted by Trochu

Oh I understand the concept of a payment plan, I just don't understand why people are buying snakes if they have to scrimp and save to come up with $500.00. Seems to me they likely have better uses they could put their money towards. Maybe I listen to too many financial talk shows, then again, maybe the average US household debt is approaching $100k.

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