Buy Here, Borrow Here " Turns Auction Sellers Into Lenders
Auction sellers can now offer financing of their items to increase sales.
(PRWEB) September 25, 2005 -- Retailers realized that they could make as much lending money on the refrigerator as they could in selling the refrigerator. Online action sellers now have that same profit channel through Duck9 http://www.duck9.com
Theres a gap in eBay financing that ranges from $100 to $10,000," says Duck9.com founder Larry Chiang. Currently, other options all involve a third party such as Capital One or HSBC and they only apply to car loans. Now with Duck9.com, sellers can simply load up terms and make it easy to borrow with one click financing", Chiang pointed out.
Duck9 is a new platform enabling easy seller financing. eBay has a gap where sellers can not sell using traditional payment acceptance.
Buyers have more protection through Duck9 compared to a cash transaction- under Duck9's agreement and in compliance with FCRA (Fair Credit Reporting Act).
Sellers get a duck9 Buy Here Borrow Here "logo and specify down payment percentage, APR and term length. Also on the site is an easy to understand disclosure box".
Duck9 ratings.
Both the buyers and the seller will have Duck9 ratings. These will be transparent to the public. These ratings are similar to eBay ratings.
Duck9 fees for Auction Sellers.
No fee guarantee. The Duck9 website proclaims, We get paid, when you do."
Hmmm, given the frenzy this news may cause, I have an idea: selling my golf clubs that are collecting dust in the garage.
So please send a $50 check. Youre good for the $20 a month for the next six months right?!
About Duck9.com: as the originator of peer to peer lending, Duck9 gives consumers the option to borrow from other consumers. Banking is bureaucratic. Duck9 bypasses red-tape. Seller financing by Duck9 was the first to introduce 1-click financing" and Buy Here, Borrow Here" within online auctions, Internet merchants and general e-cash transactions. Duck9 provides billing, collection and customer service.
Larry Chiang
650-283-8008
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