1200 paid in instalments

Brie

Just because she looks and sounds like a nice little old lady doesn't mean she's not a scammer.  Or because she lives in a posh area that she doesn't have money.  Or maybe she has money but has an issuing with shopping.

I think you should just say "sorry but I need the cash sooner rather than later".  If that changes her mind and she finds she can afford the lot then great.  Or if it's half now and half in January, great but you hand over the item when you get the second payment.  

She might manage to get a JL loan or credit card or whatever.  But what if she stops paying her loan?  Will JL come after her and you for the macbook?  Is there a reason your daughter needs it now rather than waiting to save up for it??

cymruchris

If you can afford to lose the money (and you said you can't) then it would be a FIRM no from me in terms of providing her with credit.

I've experienced (when much younger and naïve) a sob story, an instalment plan and then silence after payment 1, never did get the balance repaid. That was for £400 outstanding back in the 90's. 

If she decides not to pay you - you're going to have a nigh on impossible job of ever getting the money back.

You mention it's a 'machine' - what if it stops working after two months? She might say - oh it's knackered - I'm not paying another penny towards it. 

I can see where you're coming from in terms of the Macbook - in that she would be paying it to Apple rather than you - but I'd be wary of the approach. 

I'd rather just buy her a box of chocolates or a bunch of flowers for Christmas and sell it to someone else - even for less money, and then buy your own Macbook. 

Silvertabby

Who's idea was the Mac book scheme?  If hers, (perhaps because you mentioned that you wanted the money to buy your daughter a laptop?) then that is a huge red flag.  Huge.

Even if it was yours, then if this lady is eligible for JL credit then there is no reason why she can't get a personal loan, pay you, and that would be the end of it.

coconutcurls

Result - My daughter's grandparents came to visit and they wanted the item so they took it and my daughter's will get money for the MacBook

caprikid1

out of interest what was the item ?

Pollycat

coconutcurls said:

Result - My daughter's grandparents came to visit and they wanted the item so they took it and my daughter's will get money for the MacBook

Seems to have worked out ok for you.

Will the lady be really disappointed not to have the item?

L9XSS

What a story Jackanory......

Exodi

Ditzy_Mitzy said:

If not, there's nothing to stop you setting up a plan to pay in instalments (without interest, presumably) and writing a proper contract for the buyer to sign.  That gives you proper protection in the event of non-payment and will give you a cast iron case if it becomes necessary to sue the buyer.  Would you be prepared to do that?  You will have to if you can't afford to lose the money and the old woman fails to cough up.  

I wouldn't necessarily say cast iron,. We sell goods to distributors on credit terms (effectively loans) and our 'Terms & Conditions of Sale' are six pages long. I appreciate that the OP probably doesn't need terms as far reaching as this, but it's certainly not as simple as one might first think.

Many of these DIY agreements fall at the first hurdle by having no stipulations around late or non-payment.

tightauldgit

Exodi said:

Ditzy_Mitzy said:

If not, there's nothing to stop you setting up a plan to pay in instalments (without interest, presumably) and writing a proper contract for the buyer to sign.  That gives you proper protection in the event of non-payment and will give you a cast iron case if it becomes necessary to sue the buyer.  Would you be prepared to do that?  You will have to if you can't afford to lose the money and the old woman fails to cough up.  

I wouldn't necessarily say cast iron,. We sell goods to distributors on credit terms (effectively loans) and our 'Terms & Conditions of Sale' are six pages long. I appreciate that the OP probably doesn't need terms as far reaching as this, but it's certainly not as simple as one might first think.

Many of these DIY agreements fall at the first hurdle by having no stipulations around late or non-payment.

Not only that but you can't get blood from a stone. If the buyer doesn't have the money to pay you then you can get all the court orders in the world - which is why generally commercial lenders don't hand out money willy nilly to little old ladies with sob stories.

gwynlas

Take the macbook out of the equation she might not qualify for credit and what happens were she to die before it is paid off? Then th dalesperson will be trying to set things up for her, the registering of the warranty and third party access to support. If you wish to let her have your item paying £100 for 12 months that is a risk you take and hopefully it all goes smoothly. Personally I would be suspicious of  stranger coming to look at  product that they could not afford to buy outright.