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Amazon to let customers pay in installments

Discussion in 'eBay and Amazon Users' started by Maevla, Jan 3, 2016.

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    Maevla

    Maevla Administrator Staff Member

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    Amazon is to let customers pay for goods on its website in installments, as the online retailer steps up its attack on the UK high street.

    The US giant, led by founder Jeff Bezos, will offer loans of up to four years for orders totalling more than £400, subject to a credit check.

    http://bit.ly/1IKESaQ

    4 Years to pay £400 seems a bit excessive to me - another way to get yourself into debt and see no benefit really quickly - what do you think?
     
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    Toastking

    Toastking Trainee Lab Tech

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    Yeah it definitely seems like just another way for people to get into debt that they cannot afford to repay as it simply creeps up on them. This could end up being a PR disaster for them if they either go stingy on giving the loans out OR go the other way and give out too many to people who cannot afford them and so become part of the problem.
     
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    Paul Norman

    Paul Norman Businessman

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    I would be interested to know who is bearing the risk in these loans. Is it Amazon, or the retailers? Because many of the 'benefits' of using Amazon are pushed onto the small online businesses who sell through Amazon, many of whom do not properly understand the cost/benefit equation of so doing.

    I do not sell on Amazon. The Mathematics just does not work for me.
     
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    Silverisametal

    Silverisametal Lab Tech Premium Member

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    I've never seen the point in financing purchases unless it's something like a car, or even a house!

    I've known people who have bought sofas and TV's by paying in installments of something daft like £20 per month for a number of years and end up paying off £1k for a TV that only retails @ £500, reason being that they can't afford the thing in the first place, but they just HAD to upgrade from the 42" to the 50".

    I need a new TV, simply because we don't have one in the bedroom, but I'll wait until I physically have that spare cash sat in the bank.
     
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    Maevla

    Maevla Administrator Staff Member

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    That's a good point Paul and I think I read somewhere last year about Amazon giving seller loans as well. It would be high risk for them but I suppose they are covered somewhere along the line and the smaller businesses will lose out.
     
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    Jems Smith

    Jems Smith SEO Executive

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    Yes, Example there is mobile on sale you can pay through EMI also.
     
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    Boult93

    Boult93 Freshman

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    That's good initiative. Hope others will follow Amazon.
     

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