rent to own books?

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Tim Engwer | Forum Activity | Posted: Sun, Nov 6 2011 10:54 AM

Maybe this is impossibe or crazy but the thought occured to me that Logos could make more money by offereing their material as rent to own.  For people who don't have a lot of money they could rent a book(s) to use in L4 on a weekly basis and if they continue with the payments eventually own the book or loose the money they put into them if they can't continue payments.

L4 would have to be set up to allow for accountability.  For instance, a person who rents a book would have to allow L4 to connect to the internet at least once a week to check to see that their payments have been sent and account is up to date.  L4 could be set up to automatically block the rented book if payment is not made whether or not a person is connected to the internet.

Benefits:

1) Logos would probably make even more money on their book since people who can't afford to take a chance on a credit card payment plan (fearing they could loose their job etc.) could rent to own the books and have no fear of missing payments and messing up their credit history.  If they continue to make payments they own the book.  If they miss a payment then they just loose the use of the book until they make their next payment. 

2) This gives people the opportunity to try out a book to see if they like it.

3) A person might not buy an expensive book through the credit card payment plan due to financial uncertainty but most people would gladly try out a book through the rental program since their is no risk financially and if they like the book they would continue to send payments until it is theirs.

What do you think???

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Lynden Williams | Forum Activity | Replied: Sun, Nov 6 2011 11:06 AM

Under the current system, (payment plan) if you do not pay your monthly obligation, they can still block your access to the book, once you are online. Sounds like the best way to put your ideas into effect, would be to make the payment plan longer.

I along with several others, have asked for a rental plan, where we rent a book for a small fee for a period of time. Another idea would be for Logos to allow you to have access to varying amounts of books, for a set fee.

A student pursuing graduate work online, and not having access to a good library, might be willing to pay $70.00 a month for unlimited access to the entire Logos database. Others might be willing to pay $20.00 for a limited access to Logos database. This could come in different configurations such as hours per month, or volumes per month.

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Tim Engwer | Forum Activity | Replied: Sun, Nov 6 2011 12:25 PM

Lynden Williams:

Under the current system, (payment plan) if you do not pay your monthly obligation, they can still block your access to the book, once you are online. Sounds like the best way to put your ideas into effect, would be to make the payment plan longer.

I along with several others, have asked for a rental plan, where we rent a book for a small fee for a period of time. Another idea would be for Logos to allow you to have access to varying amounts of books, for a set fee.

A student pursuing graduate work online, and not having access to a good library, might be willing to pay $70.00 a month for unlimited access to the entire Logos database. Others might be willing to pay $20.00 for a limited access to Logos database. This could come in different configurations such as hours per month, or volumes per month.

And I thought my idea was unique!  When I think this through it seems Logos could make a lot more money with the ideas we have suggested.  There are a certain number of people who would be willing to commit themselves to a payment plan of hundreds of dollars.  But there are others, perhaps many, who either don't have credit or do not feel financially secure enough to make a credit committment of hundreds of dollars.  These are those who will only spend small amounts of money for a one time purchase once in a while.  It is that group of people (NOT WILLING to commit to a credit plan) PLUS  the previous group (WILLING to commit to a credit plan) who would be buying books from Logos.  Logically speaking, this means more people buying books from Logos and therefore more money to support the product not just for one time purchases but by regular payments coming from a larger cross section of people.  How can they not see how this could benefit them?  Have they stated a reason for not wanting to use a system like this?  I'm just trying to understand where they are coming from.

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Lynden Williams | Forum Activity | Replied: Sun, Nov 6 2011 12:39 PM

To put it into effect, they would need to get the publishers on board, put the back end support in terms of software to facilitate it, and configure the software to work with it also.

We know gift cards are in the works hopefully before Christmas, but Logos will not commit themselves to a definite timeline. Bob Pritchett has said on more than one occasion, that they have some things in the works that they are keeping close to their belt. Lets wait and see what happens.

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Dave Hooton | Forum Activity | Replied: Sun, Nov 6 2011 1:02 PM

Lynden Williams:
Bob Pritchett has said on more than one occasion, that they have some things in the works that they are keeping close to their belt.

Biblia.com could provide better functionality and least risk for this type of transaction ...

Dave
===

Windows & Android

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Lynden Williams | Forum Activity | Replied: Sun, Nov 6 2011 1:06 PM

Good idea Dave, as long as it has most of the features of the software itself. The ability to copy to clippings, drag to favourites etc.. Come to think of it, I would not mind Biblia.com to mimick the software itself. Would be ideal for Tablet computers.

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Matthew C Jones | Forum Activity | Replied: Sun, Nov 6 2011 1:17 PM

A couple years ago I suggested a subscription plan to access Logos resources rather than outright purchases. Many people prefer ownership over subscriptions.

If a rental program were instituted Logos could include an accessibility expiration with the downloaded resource so internet connecting would not be required.

Personally I would not participate in a rental program at this point. And if rental were the option, a lot of revenue would dry up.

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Tim Engwer | Forum Activity | Replied: Sun, Nov 6 2011 2:27 PM

Super Tramp:

A couple years ago I suggested a subscription plan to access Logos resources rather than outright purchases. Many people prefer ownership over subscriptions.

If a rental program were instituted Logos could include an accessibility expiration with the downloaded resource so internet connecting would not be required.

Personally I would not participate in a rental program at this point. And if rental were the option, a lot of revenue would dry up.

I am not suggesting just a rental program but having it in addition to the other options for those who can't afford spending a lot of money in one shot or are not financially secure enough to make a credit card payment committment.  I myself have excellent credit right now but am struggling with a decision to upgrade to the next level for $380.  For me this is a lot of money.  I know that there is always the possibility with the way things are these days (though things are fine now jobwise) that I could be layed off and stuck with a credit card bill I can't finsih paying until I find another job and this means late payments added and my credit rating going down as a result of failure to pay.  For me a rental option with no penalties (except for the loss of the use of the upgrade) and no possibility of my credit being hurt would solve the risk problem and I would gladly put down a payment over the next few months to pay for it in full.  I have the feeling there are probably others out there who are in the same boat.

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Matthew C Jones | Forum Activity | Replied: Sun, Nov 6 2011 3:12 PM

Tim Engwer:
I am not suggesting just a rental program but having it in addition to the other options for those who can't afford spending a lot of money in one shot or are not financially secure enough to make a credit card payment committment. 

Thank you for clarifying that for me. Sometimes I am a little slow or inattentive to details.

Logos has a huge customer base so I am sure there are cases where a customer does have unforeseen difficulties. I do not know how they handle those problems but I have caused Customer Service or Bookkeeping extra work unintentionally.

I placed a Pre-Pub or Community Pricing order with a credit card that reached expiration before the resource actually shipped. (I know, Logos does ask us in the shipping notice to confirm our cards for correct billing. Embarrassed) Some titles may languish for up to 3 years before shipping! Customer Service was kind and helpful to allow me to purchase the resource using updated payment info. There is also a way to globally update all pending charges with a new default card.

Another time I changed my default card to a new bank but was unaware payment plan charge info must be updated by a human being at Logos. Changing our default charge card in our account profile does not change a payment plan's info. (They really do earn that $5 service fee. Smile)

Getting back to your precise subject matter; Your idea does not sound bad to me. If Logos wants more security for their position they could implement your ideas. Maybe they are not worried enough to make the effort. Technologically Logos has the ability to remove licenses from accounts if a user refuses payment or quietly drops off the face of the earth. Another possible benefit I see in a rent-to-own program would be for seminary students that need books during their enrollment but not after graduation.

If everybody were as conscientious about keeping their payment commitments I doubt Logos would have any problems with hardship cases. But with 750,000 users, there have to be a few that default. I don't want to know how Logos handles those cases....

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Alan Charles Gielczyk | Forum Activity | Replied: Sun, Nov 6 2011 5:48 PM

Neither of these is going to happen for one simple reason. Both options would significantly reduce Logos' income. Having access to the entire database for a monthly fee would bring their sales income to an immediate halt. I don't have the numbers but my guess is they make more than $70. I may be an exception here but over the entire time I have owned Logos and purchased books I am averaging $194/month.

 

I don't see a very big "rent-to-own" audience either. The interest-free payment plan is probably the best Logos will do in that field.

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Lynden Williams | Forum Activity | Replied: Sun, Nov 6 2011 5:59 PM

Alan Charles Gielczyk:
I may be an exception here but over the entire time I have owned Logos and purchased books I am averaging $194/month.

Alan, please remember to leave your Logos library to me in your will. Big Smile

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mab | Forum Activity | Replied: Sun, Nov 6 2011 6:28 PM

The opportunity to sample books has been around for years: it's called the library and it's better than renting--it's free. Now maybe the selection of books at the average public library isn't so deep, but I bet there's enough on the shelves in a seminary. I'm pretty impressed by the selection available in two local public libraries where I live. 

If you willingly invested in a Logos library, the best thing to do is to ask others here on the forum about something you are contemplating. If necessary use the payment plan.

May you experience the Lord's pleasure in your studies and never take lightly His willingness to help you grow deeper in your walk as you see the greatness of His love for you.

The mind of man is the mill of God, not to grind chaff, but wheat. Thomas Manton | Study hard, for the well is deep, and our brains are shallow. Richard Baxter

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Alan Charles Gielczyk | Forum Activity | Replied: Sun, Nov 6 2011 6:38 PM

Lynden Williams:

Alan Charles Gielczyk:
I may be an exception here but over the entire time I have owned Logos and purchased books I am averaging $194/month.

Alan, please remember to leave your Logos library to me in your will. Big Smile

And I am sure there are many with larger libraries than mine. But that does bring an interesting idea to mind. A new thread where everyone can reveal their $ per month they have spent. I am too lazy to start it but I will post if someone else does it.

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Matthew C Jones | Forum Activity | Replied: Sun, Nov 6 2011 7:17 PM

Alan Charles Gielczyk:
Neither of these is going to happen for one simple reason. Both options would significantly reduce Logos' income. Having access to the entire database for a monthly fee would bring their sales income to an immediate halt.
Alan Charles Gielczyk:
I don't see a very big "rent-to-own" audience either.

I agree. That is probably why my initial suggestion two years ago went nowhere.

Alan Charles Gielczyk:
The interest-free payment plan is probably the best Logos will do in that field.

Logos could offer 18 month & 24 month payment plans for mega-purchases. Big Smile (Is there no end to this obsessive compulsion?)

Alan Charles Gielczyk:
But that does bring an interesting idea to mind. A new thread where everyone can reveal their $ per month they have spent.

Are you crazy, Alan?? My wife reads these threads sometimes. Indifferent

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Randall Lind | Forum Activity | Replied: Wed, Nov 9 2011 4:08 PM

I just brought Scholar's edition I will have low payment of $49.62 a month for next 11 months may be cheaper if I can make double payments. However I would love a 18-24 month plan for Portfolio edition.

I can see myself working up to Platinum but I still see Portfolio being too high to pay off in 12 months. I think that edition should be ablle to extend up to 24 months.

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Matthew C Jones | Forum Activity | Replied: Wed, Nov 9 2011 4:31 PM

Randall Lind:
I just brought Scholar's edition I will have low payment of $49.62 a month for next 11 months may be cheaper if I can make double payments. However I would love a 18-24 month plan for Portfolio edition.

I can see myself working up to Platinum but I still see Portfolio being too high to pay off in 12 months. I think that edition should be ablle to extend up to 24 months.

Yes I believe many would make the upgrade if it were more affordable and an extended payment plan would put it in the reach of many.

I just posted a UserVoice suggestion for

Long Term Payment Plans 18 - 24 

Add your vote. Logos just might do it. Stick out tongue

 

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Jack Caviness | Forum Activity | Replied: Thu, Nov 10 2011 4:15 AM

Super Tramp:

Alan Charles Gielczyk:
But that does bring an interesting idea to mind. A new thread where everyone can reveal their $ per month they have spent.

Are you crazy, Alan?? My wife reads these threads sometimes. Indifferent

I thought Nina posted that she would approve anything to keep her hubby happy Geeked Or did you post that from her account? Hmm

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