Question 1

How does laybuy work for resellers?

Accepted Answer

Laybuy lets customers pay for items in installments over a set period. The store holds the item until full payment is received. TurnGoods automates laybuy management with payment tracking, automatic reminders, and status transitions from deposit to completion.

Question 2

What deposit do customers need to start a laybuy?

Accepted Answer

TurnGoods supports flexible deposit amounts, typically 20-30% of the total price. The store sets the deposit percentage and payment schedule. Once the deposit is paid, the item is marked as held.

Question 3

How do laybuy payments work in TurnGoods?

Accepted Answer

TurnGoods tracks each installment payment, sends automatic reminders for upcoming and overdue payments, and automatically updates the agreement status. Store staff can log manual payments or customers can pay via integrated payment links.

Question 4

What happens if a customer defaults on a laybuy?

Accepted Answer

The agreement is marked as defaulted. Depending on store policy, the customer may forfeit the deposit and any payments made. The item goes back into inventory for resale. TurnGoods tracks default rates so you can manage risk.

Question 5

Does TurnGoods support partial laybuy payments?

Accepted Answer

Yes. You can set custom payment schedules with any number of installments. Track each payment as it comes in, see the remaining balance, and get notified when a payment is received.

Question 6

Is laybuy available for consignment items?

Accepted Answer

Yes. Laybuy works on both store-owned and consigned items. For consigned items, the payout to the consignor is released once the final payment clears, ensuring the consignor is paid correctly.

Laybuy Manager

New Laybuy Agreement