Setting Up a Payment Plan as a Subscription Product
Question:
I am offering an expensive product that is available to be purchased in one lump sum payment, or in multiple small payments. I would like to set it up as a single product with multiple subscription options for the payments (i.e., 12 monthly payments, 4 quarterly payments, or 2 semi-annual payments). How do I set up the financial part so the payments are correct, and that the customers don't get charged for the lump sum at their chosen interval?
Response:
Your best option would be to use the "Discount to" option when setting up the subscription options. Calculate what the payments would be for each interval, and enter that as the "discount to" value. That value will be charged at the defined intervals. Be sure to enter a term for the subscription as well, so the payments don't go on indefinitely.
