Bud's Guns and Layaway?

[Philadelphia Patriot]

Anybody know why Budsgunshop.com doesn't have layaway on (pretty much all of) their firearms any more? It use to be allowed on all new guns that cost $298+.

 

[Faulkner]

So, layaway is a process that seemed to be popular in my younger days. I recall hearing my parents speaking about the term "layaway" around Christmas time but I never understood what it is and what benefit it has to the consumer and the retailer.

 

[arjay]

It was popular before most people had credit cards as a way to buy on the installment plan.The merchant keeps what you've put down if you don't pay it off in the allotted time.

 

[THE PILGRIM]

They probably made a business decision based on their judgment that it was not beneficial to them.

 

[Bish1309]

As a retailer/distributor/wholesaler you buy your goods to sell.

If you pay cash for the items you offer for sale your cash flow or working capital is tied up until you sell the item. If you allow layaway, your money is still tied up until the item is paid off even though you get to keep the inventory.

If you buy with what is called "floor plan" financing, the supplier usually allows a certain amount of time (in some cases up to 90 days) before you either have to pay your supplier for the item or start paying finance charges on what you still owe your supplier.

As an example, a retail establishment buys a handful of pistols from a supplier. He now has items for the retail purchaser to come in, look at, touch and feel and either pay for the item and take it or have the seller stash it while the buyer makes payments, usually for no extra fees. If the item is paid for, the seller can repay the debt to the supplier. But if the item sits on the shelf either unsold or on layaway, the seller doesn't have the money for that item and can't pay back the supplier until that transaction is completed.

My guess is that cost of doing business has risen to where the interest eats up any profits and it's no longer a wise business decision to offer the service to the purchaser.

I hope that makes sense...not to be confused with cents.

 

[Philadelphia Patriot]

I was just curious why they stopped offering it...at least for now.

 

[Cigar]

I look at it this way; if you can't save your money for it then you should not have it.. Discipline is the key here..

 

[Arik]

Possibility the credit agency they worked with either couldn't do that anymore or decided to stop based on whatever reason.

Grabagun still does

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[Arik]

So, layaway is a process that seemed to be popular in my younger days. I recall hearing my parents speaking about the term "layaway" around Christmas time but I never understood what it is and what benefit it has to the consumer and the retailer.

I do it all the time, just not online. All my LGS allow layaway and I take full advantage of it. $100 down and depending on the store 30 days - 90 days same as cash. If you're a regular, depending on the price you can get away with $50 down.

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[Arik]

I was just curious why they stopped offering it...at least for now.

It ended years ago. I remember contemplating a purchase about 10 years ago and then all of a sudden that option was no longer available

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[Philadelphia Patriot]

It ended years ago. I remember contemplating a purchase about 10 years ago and then all of a sudden that option was no longer available

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I used it a few months ago with Buds. It seems they just stopped the past week or so. I'd call them but they're closed.

 

[Muss Muggins]

I was just curious why they stopped offering it...at least for now.

Did you ask Bud's?

 

[dswancutt]

According to some comments on Buds facebook page, they have some problems with the server. Take this for what it's worth. I used it a couple of months ago for my M&P 9L pro.

 

[Philadelphia Patriot]

Did you ask Bud's?

They're closed til tomorrow.

 

[model70hunter]

When I had a young family and was not in the top tier pay scale I worked 2nd jobs or rebuilt old guns to make money for ones I wanted. Someone mentioned discipline, discipline did not have much truck with kids needs, rent, gas etc.

I had built rapport with quite a few guns shops, most of them did lay away. I also repaired guns and we kept a tally of what they owed me.

But sometimes a gun that had your name all over it came in, you just had to have it. Layaway at times was the only option. I'd always get it paid off under 90 days.

 

[Irn-Bru]

I use layaway at Cabelas all the time. I wait for the $20 off coupons and buy $100 gift cards for $85 via eB*y. Yes I'm cheap

 

[Biggfoot44]

In general, layaway has all but disapeared from retail, other than WalMart having it specifically at Christmas season. In the modern times, even low end customers have access to credit cards ( albeit high interest).

Traditionally the advantage to retailers was the customer buying more big ticket item and larger total expendatures than they could scrape up at any one time week to week. Cost to retailers was the tieing up of their money/ credit while the mdse sat there, the space in the store room it took up, and in larger stores the labor expense of the staff at the seperate layaway counter.

In recent decades most larger retailers figured out that they came out ahead with issueing their own credit cards. The customers take their stuff home instead of having to store it, and they turn a good profit from the customers paying interest and fees.

Specifically at gun stores , rarely see longer than 30 days to complete purchase.

 

[Salty RI]

So, layaway is a process that seemed to be popular in my younger days. I recall hearing my parents speaking about the term "layaway" around Christmas time but I never understood what it is and what benefit it has to the consumer and the retailer.

Years ago I worked a part time job in a store called Zayre, it was the first box store in this area, around Christmas and when people were getting the kids ready for school, they would come in and do their shopping and put it on layaway and come in every week and put something down on it, until it was paid for, if you didn't have the cash it was a good way to shop, I bought many guns on layaway.

 

[Salty RI]

When I had a young family and was not in the top tier pay scale I worked 2nd jobs or rebuilt old guns to make money for ones I wanted. Someone mentioned discipline, discipline did not have much truck with kids needs, rent, gas etc.

I had built rapport with quite a few guns shops, most of them did lay away. I also repaired guns and we kept a tally of what they owed me.

But sometimes a gun that had your name all over it came in, you just had to have it. Layaway at times was the only option. I'd always get it paid off under 90 days.

Before credit cards many stores had what they called 90 days cash, if you paid it off in 90 days you didn't pay any interest.

 

[David LaPell]

I got my Ruger American .17 HMR last month through Buds and I used layaway on it. None of the local shops could get the distributor exclusive they had with the shorter threaded barrel with no sights and the green stock so I got it from them and since I didn't have the money right on hand, put it on layaway. I've done it twice with them, with the Ruger and my Beretta Nano this past January. On the plus side, it keeps me from wanting to spend any more money I don't really have.