Making "Extra" Pay in 4 Payments - What happens next?

N1ceMarm0t
Contributor
Contributor

I want to make a large purchase using PayPal Pay in 4.  I'd like to pay more upfront since I have the cash on hand.

 

Here's a scenario:  I make a $1,000 purchase using Pay in 4.  Naturally, my payments would be 4 payments of $250/ea.  Let's say I want to make an "extra" payment of $250 on day two of my plan, which means technically the remaining balance is $500.  What happens next?

 

A - Remaining balance of $500 is paid out in three equal payments.  Payment 2 @ $166.67, Payment 3 @ $166.67, Payment 4 @ $166.66

B - Remaining balance of $500 is paid out as originally as scheduled, ending early (no scheduled 4th payment required since total balance is paid off).  Payment 2 @ $250, Payment 3 @ $250.

 

I tried reading through the terms, but the answer is not clear.  Anyone experienced this who can shed some light?

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1 REPLY 1

PayPal_Craig
Moderator
Moderator

Hi @N1ceMarm0t

 

Welcome to the Community! 

 

With PayPal Pay in 4, you make always make extra or unscheduled payments. 

 

Just log into your PayPal account, choose the PayPal Pay in 4 plan you want to pay off, and click Make a Payment. Then, you can make an unscheduled payment of Next Payment Due or Full Balance.

 

Hopefully, this answers your question.

 

PayPal_Craig

 

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