Have you ever sold a gun on a forum taking payment plans?

[gmerkt]

Not for me as a seller.

BUT: If you want to do it, KEEP THE GUN UNTIL FULL PAYMENT IS IN HAND. Otherwise, forget it.

If the buyer flakes before full payment is tendered, do what you think is fair. BUT: He owes you for wasting your time and temporarily taking your merchandise off the market.

Write it all down.

 

[ZA_Survivalist]

Not for me as a seller.

BUT: If you want to do it, KEEP THE GUN UNTIL FULL PAYMENT IS IN HAND. Otherwise, forget it.

If the buyer flakes before full payment is tendered, do what you think is fair. BUT: He owes you for wasting your time and temporarily taking your merchandise off the market.

Write it all down.

Agreed,
I'd NEVER relinquish the item until the full payment is received (nor would I request that) But I'm thinking the OP is talking more about payment plans rather than just forking over the item and hoping the buyer pays the rest. I'm not sure any of us would be willing to trade off an item without full payment in the hopes a would-be buyer honors their end. I'd find that idea too ludicrous to even entertain.

 

[arakboss]

I have bought numerous firearms with a BNPL plan provided by the seller. I am currently one payment in on recent purchase. The remainder is due by end of March. I have not been on the sell side of this type of arrangement.

 

[red442joe]

Yes.
100% down,
Zero per month,
Zero monthly payments.

Joe

 

[Zingger]

I have sold this way just once, but that was a couple thousand dollar rifle. Agreement and terms of payment, what was going to be happening if a payment was missed or the gent no longer was interested.

He paid it off a month early, it was a good experience- but I do feel it had more to do with the quality of the gentleman than anything else. He was of the generation that a man's word meant something and expected the same.

I'd say go with your gut on each deal.
Zingger

 

[Spitpatch]

Yes.
100% down,
Zero per month,
Zero monthly payments.

Joe

And the flakes, faced with those generous terms would have "no interest".

As a technical issue, when making financial agreements that include a deposit, most courts recognize that the term "Deposit" is by definition refundable, and usually require an itemization of factors that justify any retention of a "Deposit". A "Holding Fee" (contingent upon actions of the buyer with a specified time line) may not require such itemization to retain it, should things go south. Use care when discussing such arrangements.

Having said that, I'd never accept payments (or a personal check) from a stranger and relinquish a gun prior to full payment.

 

[Andy54Hawken]

Back when you could do a face to face firearm transaction legally without any hassles...
I would take a payment plan for a firearm that I had for sale.
I even made payments on more than few guns that way.

Nowadays and over the forum....?
Maybe...it would depend on who the buyer was.
Andy

 

[trekkerpaul]

I have bought numerous firearms with a BNPL plan provided by the seller. I am currently one payment in on recent purchase. The remainder is due by end of March. I have not been on the sell side of this type of arrangement.

You should try being on the seller side of a payment plan. Requires some patience.

Sure as long as I give them a piece of the gun with each payment.

Wait until they have paid, several weeks or months later. Take the gun apart, giving them only parts on the same schedule they made the payments. So if it took them 3 months to pay, it will take them 6 months total to have a completed piece. And they have to put it back together themselves.

 

[arakboss]

You should try being on the seller side of a payment plan. Requires some patience.

Wait until they have paid, several weeks or months later. Take the gun apart, giving them only parts on the same schedule they made the payments. So if it took them 3 months to pay, it will take them 6 months total to have a completed piece. And they have to put it back together themselves.

I imagine it does take patience.

 

[trekkerpaul]

I imagine it does take patience.

You have no idea. Seriously......sell a personal item on payments to a random stranger. No interest, only a hand shake. See how it goes.

 

[arakboss]

You have no idea. Seriously......sell a personal item on payments to a random stranger. No interest, only a hand shake. See how it goes.

It has went well for the seller I am dealing with. The current deal is the 4th BNPL transaction I have done with him.

 

[Jay Walk]

If you have to make payments, you can't afford to purchase it.

If you have to take payments, just keep the gun until all money is received.

 

[ilikegunspdx]

Looking for to hear from folks who have sold a gun on a forum and taken payments for the gun. For example, $300 gun, taking three $100 payments over a period of, say, six weeks.

Especially interested if hearing from folks who have done that and run into complications. Did they miss a payment? What did you do? If it was long-distance deal where shipping/an FFL was involved, how'd you handle it?

No way Jose. I've restored and sold cars since before driving age and never once did I take a payment and never once did I buy a car without a title. Never a problem and I've sold over 500 cars that way over many years.

Have everything you need in hand to do the deal. I have however taken small down payments (like $50) to hold a car for someone who was genuine and was to get $ from bank later the same day.

If it's someone on NWFA with a good reputation I wouldn't even need a down payment. I would hold it for them for a set period of time no problem. So the above is speaking of new or unknown members.

 

[TTSX]

If you have to make payments on a $300 item, you have bigger problems in life than buying another firearm. Fix your life first.

 

[solv3nt]

If you have to make payments on a $300 item, you have bigger problems in life than buying another firearm. Fix your life first.

What you talking Willis? Guns are a necessity!

 

[arakboss]

If you have to make payments, you can't afford to purchase it.

If you have to take payments, just keep the gun until all money is received.

Send that memo to the federal government

 

[Knobgoblin]

Send that memo to the federal government

 

[BillyJean]

I have sold this way just once, but that was a couple thousand dollar rifle. Agreement and terms of payment, what was going to be happening if a payment was missed or the gent no longer was interested.

He paid it off a month early, it was a good experience- but I do feel it had more to do with the quality of the gentleman than anything else. He was of the generation that a man's word meant something and expected the same.

I'd say go with your gut on each deal.
Zingger

If you have to make payments, you can't afford to purchase it.

If you have to take payments, just keep the gun until all money is received.

If you have to make payments on a $300 item, you have bigger problems in life than buying another firearm. Fix your life first.

As I mentioned, $300 is just an example. Plenty of folks do this for guns that cost a bit more, and it's not necessairly because they can't afford it. Not everyone has five figures sitting in one account for guns ready to go at a moment's notice. You may have to move some things around and by then the gun is gone.

Maybe it's a little too old-school for some folks' tastes, or they're not comfortable for other reasons, but I appreciate all the responses just the same.

 

[Spitpatch]

Caution toward a sale can also be shown (after the fact) to have been unnecessary.

I was a table-holder at a Kalispell show some years back and had a number of high-end optics on the table for sale.

Late on the last day of the show, a guy came by in a worn quilted flannel and Aussie oilskin hat, late 60's. Spoke politely with a deep Southern accent, looked over what I had, picked out 5 scopes saying, "I'll take these." Shocked and happy at the same time, I talked a bit more about the scopes, and he pulled out a checkbook.

I had to turn him down respectfully, and explained my reasons for caution, he pleaded a bit, then politely said he understood. We talked a bit further, and I mentioned I was staying south of town about 20 miles and his eyes lit up. He said his house was in the same area, and could I drop by with the scopes after the show? He'd have cash.

No sweat! (This was big money for me.)

Given directions, I climb a road up the 2nd tallest mountain between Kalispell and Polson (the tallest is a ski resort). Arriving at a huge cobblestone turnaround centered by a twelve-foot bronze sculpture of a Golden Eagle doing a full wingover, a full-size Hummer and a Town Car. The house was no less impressive, my partner and I were invited in, and flat-screen TV's blared from every room.

"Watchin' the Alabama game!" as he turned down the volume. Gave us the dime-tour of his place, including the next little mountain over (where he had a 1000-yard gong set up to shoot at from the house).

In his office, we made the deal, and I learned he was a retired Federal Judge from Alabama.

We corresponded by email for a couple years. A friendship that began with mistrust on my part.

 

[CountryGent]

Have you ever sold a gun on a forum taking payment plans?

No and there is no chance I would enter into such an agreement, if for no other reason there are way too many flakes these days.