What is Layaway?
Layaway is a payment plan allowing a buyer to purchase an item and make payments to the seller for the item over a predetermined period of time. The seller will ship the product when payments are complete.
Selling with Layaway
How Do I Offer Layaway?
In order to offer layaway on your item you must use GunBroker Checkout with either GunBroker Pay and/or Credit Cards with an enabled Payment Gateway. The ability to accept payment via Immediate Checkout is mandatory in order to process the deposit. You must also define a Layaway Policy and add Layaway as a Payment Plan to your desired listings.
How do I define my Layaway Policy?
- You can set up your Layaway Policy in the Listing Tools section of the Toolbox. Go to My GunBroker > Toolbox > Listing Tools > Layaway Policy.
- Once you are on the Add Layaway Policy page you will define your Initial Deposit Percentage and your Layaway Policy.
The Initial Deposit Percentage must be entered as a whole number. This is the percentage of the order total the buyer will pay upon checkout to purchase the item and place the order in an “On Layaway” status.
The Layaway Policy is where you detail all the terms and conditions for a buyer to purchase on layaway. This could include how many payments the buyer will have to make after the deposit has been paid and how much each payment will be. It should also include what happens if the buyer does not meet those conditions.
You can only have one policy. It will apply to all the listings you designate as offering layaway. If you offer different payment terms at different price points, be sure to define all of those within the policy. Any update to the policy will update the policy on all your live items. Once a deposit has been paid and the policy accepted, that specific layaway policy will be associated with the order.
How do I remove my Layaway Policy?
A layaway policy cannot be removed if any live items are offering layaway or there is an order that is unpaid and the associated item offers layaway. To clear your layaway policy you must remove layaway from all live items.
How do I list with Layaway?
The requirements for a listing to offer Layaway are that the listing must accept immediate payment through the GunBroker checkout process and a Layaway Policy has been set up.
To set up immediate payment you must have a payment gateway enabled and the listing accept credit cards. You can also set up a GunBroker Pay account and accept GunBroker Pay.
Once you have your immediate payment method and layaway policy set up for your account you will be able to offer Layaway when you create a listing.
When creating a listing you will see Layaway Available under Payment Plans section.
List an Item – Payment Plans
OR – on Classic Listing:
Can I set Layaway Available as a Listing Default?
You can offer Layaway as a default setting on the Item Listings Defaults page. If your account and the other selected defaults meet the criteria for offering Layaway, you will be able to select Layaway Available as a default.
Item Listing Defaults
How does Layaway integrate with Sold Orders?
For an order to be “On Layaway” status the buyer will have to check a box that confirms they accept the layaway policy and make the initial deposit. The initial deposit must be made through GunBroker’s Immediate Checkout process. Once the initial payment is successful the order will be marked as “On Layaway”.
Sold Orders Grid – Layaway Item
You can view your orders that are “On Layaway” status until the order is marked payment received.
Once you have received all payments for the Layaway order you can mark the order paid and ship the product to the buyer or FFL if the FFL is required.
What happens after the buyer checks out?
After the buyer has paid the deposit it is the buyer’s and seller’s responsibility to set up payment arrangements for the rest of the balance. You should reach out to the buyer with details on how to make payment directly to you.
Subsequent payments after the deposit will be made outside of GunBroker’s checkout process.
What happens if the buyer does not make all the payments?
The buyer is obligated to pay according to your Layaway Policy. It is important that you detail how you will handle this situation in your policy. Cancellation or Restocking fees, amounts forfeited, amounts refundable, etc. should all be detailed in your policy.
You should work with the buyer according to your defined policy to resolve this matter.
NOTE: Credit Requests are not allowed for items sold via the GunBroker Layaway Program. Once the deposit is received the transaction related to GunBroker is successfully completed.