Part of the roll out of the new updated DomainNameSales.com platform we told you about last night is that it now includes the option for buyers to pay for the domain over time with a down payment of the buyers choice.
As a buyer you can always elect to pay cash but you can now select to pay for the domain over as many months as you want, up to 60 months, and adjust the amount of the down payment as well. You can see the new process from the following screen shots I took of Domain Name Sales:
This is for the domain name FreeMaps.com using a $90,000 cash purchase price
Here you see I picked a 10% down payment (the lowest) and the maximum number of months (60) and the monthly payment came out to $1,802 with $9K down.
Buyers can adjust the down payment and the amount of months
Here I picked the same 10% down payment but cut the payments to just 24 months and you see the payment is now $3,813 a month
Here I selected a bigger down payment of 25% which comes to $22,500 and payments of 24 months and the monthly payment drops to $3,178
Here I picked the same 25% down payment but over 36 months and the payment went down to $2,242
Finally here is a 25% down payment with a maximum number of 60 months and the payment is down to $1,502
All of this can be done by the buyer and is adjustable on the fly so they can play with the down payment and number of months.
For the particulars, this is legally a lease, not a purchase through financing, so there is no stated interest. There is certainly an additional cost to purchase a name without paying the full amount upfront in cash, but of course this should be the case.
The buyer gets no equity in the domain name until the final payment is made.
Its all very interesting and Domain Name Sales is going to allow this to be used for domain owned by other clients shortly.