What if music shops allowed instalments?

[Darren]

Hey just wanna ask, would u guys be able to buy with more ease if music shops allowed payment via instalments like courts? Of course pay abit more lah.

i just think it be good for majority of us who are poor music lovers getting gear that we lurve to have for a long time.

Please no angsty response. Its just a poll to see if they would take up the idea if we all agreed.

 

[BlackMoo]

I personally think its a good idea.

 

[jony]

Yeah It'd be a good idea.. Though, some may not be able to keep up with payments.... And so I heard stres have tried but people just default and run. Stores also do not have legal things going their way.

But If everyone was honest, It'd be a great idea.

 

[Darren]

maybe.....

How about maybe a gurantor to sign with it. And to be able to be eligible, its payment by GIRO and both must produce a pay slip.

 

[rottenramone]

...

maybe the shops shd come up with a legally binding agreement between buyer and retailer.

any SOFTie who's lawyer trained here can give the retailers some tips?

 

[Royhan]

Why not try Hitachi Credit? I think they'll allow to take installments. But 12% interest

 

[ixora05]

that would be really cool...just too bad most people don't trust each other enough any more. maybe if it's a longtime customer who knows the shopowner well...

 

[Darren]

Big ones

I think big organisations like Yamaha should be able to handle the legal issues. I mean if I can pay by month, man I would go crazy man.

 

[3notesAbar]

According to one retailer i spoke to, he said that there is nothing in the legal system which protects retailers. I guess that negates any lure of making more money via installment + interest.

 

[popeye]

G77 accept installment if you are using credit card from certain bank. But when I happily confirm with them, they said, only applicable for $3000 purchase and above :roll:

But then, with any major bank, you can always arrange installment, for certain 'administration' charges (usually about 5% if you take 2 years installment).

 

[Darren]

credit card

You can use the credit card bank to do that??? But thats if all of us earn like more than 30K a year, and do own a credit card.

 

[Pyro]

I think an instalment scheme is a good idea. Just that the shop must take down the person's particulars or something. If the person doesn't pay up, then can go and be loanshark and hang a pig's head at the debtors door.

 

[3notesAbar]

G77 accept installment if you are using credit card from certain bank. But when I happily confirm with them, they said, only applicable for $3000 purchase and above :roll:

But then, with any major bank, you can always arrange installment, for certain 'administration' charges (usually about 5% if you take 2 years installment).

Total purchase or single item?? is there a difference?

 

[BlackMoo]

*enters $#!@ Music Store*

Hi uncle. I'd like a 2mm tortex?

"Sure. Nah, $1 . Cash or Nets?"

Installments please....


Could you imagine?

 

[Pyro]

Nah, I think more for items above a certain amount like $100 or so.

 

[Mobius]

Think it would be difficult as most of them are small retailers, having installments oso means more paper work for them and they oso have to keep track monthly to ensure that people pay, don think they have that manpower.

 

[The-Warlord]

Best idea ever. lots of places in America and UK have 0% interest 12/6 monthly installments, and it works so well.

 

[almondx]

yea and to add on to The-Warlord i think might boost overall sales.. then some of the profit from the sales go to extra manpower for the paperwork 8) ? so in the end both retailers and musicians benefit.. still tho depends on the net balance of cash.. can be a double edged sword.. hmmmm

 

[edo83]

I would rather not have it this way.

Person A purchase let's say a Fender 50th Ann. Strat.......then after few months no money pay. store takes back....either sell as B stock or if possible tries to market as showroom stock again.

Just my speculation.....

 

[Mr_Bear]

Instalment plan is good in buyers point of view but for retailers point of view, lot of work needs to be done on their part ... usually instalment plans cater legally for chaps who have proof of regular income and should be eligible in terms of age....no retailers would want to take risk in giving instalment plans to students unless their parents do it for them..

Yup, Anyway its a good idea to promote young kids to learn music ..