Pick up payment

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Congratulations! You’ve won the lot. So now what?

All purchases should be paid for within two business days, not including the day of sale. Payments can be made at any facility by cashier's check, money order, company check (prior approval necessary) or wire transfer. Subject to approval, you may also pay directly through your checking account with ePay or by cash, credit or debit cards, or available funds. Last but not least, CrashedToys has financing options available to Members who wish to finance their vehicles. At this time, no payments can be made from CrashedToys Mobile. So even if you win a bid on your mobile device, you’ll need to pay from your computer or during a location visit.

Payments of Buyer Fees, Internet Bid Fees, Gate/Loading Fees and other fees, as applicable, will be required as well. An additional fee will be charged for each duplicate salvage certificate or bill of sale requested.

When you make a payment, it will be applied first to unpaid fees (including, but not limited to, Buyer, convenience, storage, loading/gate, late payment, relist and delivery fees), then to payment of any vehicles you purchase. Once all fees are paid in full, you can pick up your purchases.

Storage rates may vary by location and can be found on the Locations pages.

Transportation services through one of CrashedToys's third-party providers may be available for select vehicles in some locations. To find out if your vehicle meets eligibility requirements, visit the vehicle's Lot Details page immediately following the sale. In the Location & Delivery section, verify that your zip/postal code is correct, and then set up delivery by clicking the Order button. If delivery for your vehicle is unavailable, we encourage you to explore alternative transportation options through any third-party provider of your choice.

Sours: https://www.crashedtoys.com/
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Sours: https://www.creditkarma.com/auto/i/buy-here-pay-here
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What is a Pick-Payment or Deferred Down?

By David - July 24, 2012

This term has many names in the used car industry, “Pick-Payment”, “Pick-up Payment”, “Deferred Down Payment”, to name a few. But what does it actually mean and how does it benefit the dealer? In short, a pick-payment is an extension of the amount allotted to the cash down portion on a retail deal. This allows the buyer to reduce the amount financed by indicating a larger payment towards cash down than what was actually paid at signing. The difference is then collected over time in what is referred to as a pick-payment. Most DMS solutions will allow you the ability to schedule payment dates for these pick-payments so that the customer is not stuck with a large balloon payment.

 

While the dealer loses out on the interest that would have been earned on the pickup payment, it gains goodwill with its customers. If your dealership sells its loans to outside lenders they may also offer to purchase the deferred down along with the principal balance. This of course may be purchased for full face value or at a discount along with the note. In this case the lender purchases the deferred down payment and assumes it as an asset on their books. With this transfer it is now the responsibility of the lender, not the dealer, for collecting the deferred down payment. In short, giving your customer the ability to use a pick payment equips your sales force with one more reason to be able to close the deal.

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Sours: https://dealpack.com/blog/what-is-a-pick-payment-or-deferred-down
Decentralized Web cash pick up payment Procedure for agent outlet(NEW). Step-by-Step process.....

Hi.  In addition to previous answer, when a sellers listing says payment at pickup that usually means several things such as -

 

Cash payment when buyer comes & gets the item.

It also usually means there may or may not be NO SHIPPING offered on this item.  You must look in the shipping & payment section at top right of the listing & click the link to see all details.   Clicking this brings up the shipping & payment section and all payment & shipping options will be there.  

It usually means that this is a large bulky item and very hard to pack for safe shipping & if offered shipping, packaging & handling may cost many times MORE than the purchase price of the item.

It means unless you plan to quickly go to the seller & inspect & pay do not bid or buy as you may just make a huge mess for yourself. 

It does not mean that the seller will do long term storage of the item for you while you make an attempt for someone to come pay & pick up the item.

 

 

If the listing also has a statement some to the effect of the possibility of shipping WHICH WILL BE THE BUYERS RESPONSIBILITY this means if buyer insists on having the item shipped that the BUYER must contract someone to come inspect, pay in cash, package safely, load & pick up the item & haul it off.   This means that the seller does not do or help do any of this.  

 

Sours: https://community.ebay.com/t5/Selling-Q-A/What-is-Payment-upon-pick-up-and-How-to-sell-wihout-a-bank/qaq-p/19642151

Up payment pick

General Information

In some cases, a customer may want to put a certain amount of money down, but is not able to pay all of that money up front.  For any type of sale, the pick up note is a deferred down payment.  You can enter an amount that the customer promises to pay by a certain date, or in a series of payments.  This amount is NOT charged interest.

Setting Up Pick Up Notes

A pick up note can be set up when you enter a sale (by clicking on Enter Sales).  There is a space directly below the cash down payment field, and it is labeled Pick Up Note.

 

pu note 2

 

Enter the total amount of the pick up note, and after entering the amount, a window will pop up.

 

pu note

This window will show the total amount, and then will ask you to enter a number of payments.  The payment amount will be computed automatically based on the total and the number of payments.  If the pick up is going to be paid in more than one payment, you need to select weekly, bi-weekly, semi-monthly, or monthly.  You also need to enter the first payment date, which will automatically default depending on which option you picked for the payment schedule, but can be manually changed to be whatever date you want.  When you have completed all of this, click on OK.

 

If this is a buy here pay here or outside financing sale, the first regular payment due date will default to occur After all the pick up note payments have been completed.  If you wish the regular payments to begin before the pick up note payments have been completed, you can manually change the first payment date in the middle column of the Sales Processing Pricing screen.

 

If this is a cash sale, the cash down payment plus the pick up note MUST equal the total cash price.  By default, the cash down payment will equal the total cash price.  If you wish to enter a pick up note, enter that first and then the cash down payment will be adjusted to equal the remaining balance.  If the pick up note plus the cash down payment does NOT equal the total cash price, the only option you have is to adjust one or the other, or adjust the selling price of the vehicle. If the customer is only willing to put $3000 down and $1000 as a pick up note, but the total cash price is $4500, click on the Adjust Pricing button on the right side of the screen, and set the total cash price to be your desired amount (in this case, it would be $4000).

Entering Pick Up Note Payments

Enter a pick up note payment as you would any other payment.  For help entering payments, go to Entering Payments & Other Transactions.  If the pick up note payments are due and paid before the regular payments, then as pick up note payments are entered they will be applied by default to the "Apply To" box in the bottom right of the payments screen, you can manually enter whether you want the payment to apply to the contract (or principal) balance or the pick up balance.

 

You can also use the pick up note if you will be receiving cash down from the customer, and the rest in a check from a lien holder.  If you are just receiving a single check and don't want to deal with hassle of a payments schedule, APR, etc., you can simply set it as a cash sale.  Enter the amount the customer is putting down as the cash down payment.  Enter the amount of the check you expect to receive from the lien holder as the pick up amount, and enter the number of payments as "1".  For the first payment date, select a date you expect to receive the check by.  You will still have to enter the lien holder information on the lien holder tab.  When you receive the check, enter the payment as you normally would, and the program will ask you if this is the last payment you are expecting from the lien holder.  You will click "Yes".

Sours: https://www.frazerhelp.com/help-manual/pickupnote.htm
Tales From Cuckoo Land :: Cosytober :: Cuckoo explores and meets up with Ami

A Deferred Down Payment on Your New Car May Seem Like a Gift—But it May Actually Be Fraud

For many people, the hardest thing about buying a new car is coming up with the money for the down payment. At 15-20 percent of the purchase price, a down payment can be a significant chunk of change—much more than the monthly payments on your loan will be. If you attempt to buy a car without enough money for the down payment, the dealer will likely work with you to get you into the car, but it may not be to your advantage.

How Deferred Down Payment Works

One offer a dealer may make if you don’t have enough money for the entire down payment, title, taxes, and fees is a deferred down payment plan.  Dealers often call this a "pick up" payment.  In Hand Putting Money In a Downpayment Jarthis plan, you pay what you can up front and the dealer works out a payment plan for the rest of the down payment. If, for example, the down payment on the car you want is $3,000, but you only have $1,500 in cash, the dealer could allow you to make payments of $500 each month for the next three months. In some cases, the dealer will offer a “hold check agreement” where you write three checks for $500 each postdated for a date the payment would be due. The dealer then deposits the checks on those future dates. A disreputable dealer will make a deferred down payment plan sound like you are beating the system, but, in fact, he is likely setting you up for financial failure.

How People Get Into Trouble

While a deferred down payment plan may sound like the only way you are going to get into that new or used car, think about this. If your first loan payment of $400 is due a month from the date you buy the car, you will actually owe $900, as you must start making those deferred payments. This will be the case for the next two months as well. Will you be able to make that payment? Many people find they cannot, so they default on the loan payment. If you secured your hold checks with a credit card number, the auto dealer will charge your card for the $500 and now you are in credit card debt as well.

How Deferred Down Payment Is Auto Fraud

Dealers are only permitted to work out a deferred payment plan if the plan is written into the sales contract and is contained on the required one-page loan disclosure. Many dealers who offer a deferred payment plan do not include it in your sales contract and are committing auto fraud. Sometimes, when you seek dealer financing and the price of the car is more than you can get a loan approval for, dealers will record a large down payment so that the amount of the loan is not as high, and then defer the down payment over multiple installments. This is also illegal and will get you into financial hot water within a couple of months.  It also may be a violation of the Truth in Lending Act if interest is charged and not made part of disclosures made on the credit contract you signed.

The Consumer Law Group, P.C.  Advises You to Play it Safe

When a dealer commits auto fraud and you are the victim, the lawyers at The Consumer Law Group, P.C. may be able to help. To avoid needing our help, however, we advise you to never agree to a down payment that you can’t pay at once. Also, you are almost always better off securing financing from your bank or credit union than from the dealership. Browse our website for more helpful car-buying tips.

 

Sours: https://www.theconsumerlawgroup.com/blog/why-you-should-avoid-a-deferred-down-payment-plan.cfm

Now discussing:

Pay and Pick Up

Member Fees

Member Fees are based on the final sale price of a vehicle, the payment method used, the buyer’s past purchasing volume and current business licensing on file. International members are always eligible for rates applied to Business Members, irrespective of the business licenses on file. If you’re logged in to your Copart account, you can view Member Fees here.

To avoid late payment fees, the vehicle sale amount and all applicable fees must be paid within 3 business days of purchase, including the day of sale.

Storage rates may vary by location and can be found on the Locations pages.

Transportation and Shipping

Copart works with third-party tow providers to provide shipping on many vehicles. To see if transportation is available on the vehicle(s) you won, visit Payments Due immediately following the sale.

In the Location & Delivery section of Payments Due, verify that your ZIP/postal code is correct, and then set up delivery by clicking the Order button. If shipping is unavailable for your vehicle, we suggest exploring alternative options through other third-party providers.

Note: Copart does not make deliveries to residential addresses.

Find Out More about International Shipping.

Picking Up Your Vehicle

If you prefer to pick up your vehicles in person, here are six things to remember:

  • Arrange the payment and pickup of your vehicle within three days from the day of sale to avoid incurring storage fees.
  • Schedule pick-up during normal business hours.
  • Have your Member Number and the lot numbers of the vehicles being picked up ready.
  • Loading is first-come, first-served.
  • Flatbed trucks are recommended for safe transportation of your vehicles.
  • All heavy and medium duty lots are self-load only.

After the three-day complimentary storage period, you will be charged a small fee each day the vehicle is stored at the Copart location. These fees can be found on the location page.

To see how Copart locations are addressing your Covid-19 concerns, check our latest updates.

View Copart Locations.

Copart Member Protection Pledge

Copart pledges to provide its buyers the best experience possible. As such, Copart provides a Member Protection Pledge on vehicles that are purchased for less than $49,999.99.

Read the Member Protection Pledge.

Sours: https://www.copart.com/


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