Time to change the deposit scheme?

[vertigocarbon]

3 minutes ago, Neil said:

it doesn't make it any more ffordable for those on low incomes by costing the same with different payments, might make it more manageable. to afford.

it's true but there's a reason why christmas saving clubs etc. exist. 

The counter argument is that christmas is effectively a necessity whereas a festival is not. Would be pretty galling if you had to dip into a pay-day loan etc. because you had your money tied up in glastonbury and something unforeseen happens

[HyperTechnoHorse]

I reckon they bank on a fair few people not being able to pay the final few so they can hand them back out in private resales/increase hospitality numbers. 

[Rose-Colored Boy]

9 minutes ago, K2SO said:

I can't believe they haven't introduced an installment plan already if I'm honest.

I think it would potentially be a good move to be able to pay it off as and when you like, a bit like a 0% finance plan from the day you pay your deposit to the March deadline date.

Then you open it up to everybody to do their own thing. You could pay it all off in October, pay off a bit a week, split it into 3, wait until the last day.

Yep. No reason Glastonbury can’t do this just like so many other fests. Shouldn’t be asking the world of GFL to implement a pretty standard payment plan option. 

[Rose-Colored Boy]

Tbh I thought this discussion was going to be about when and to what level the deposit is going to be increased but hey ho. 

[The Nal]

Just now, Rose-Colored Boy said:

Yep. No reason Glastonbury can’t do this just like so many other fests. Shouldn’t be asking the world of GFL to implement a pretty standard payment plan option. 

Why not just save the money yourself and pay it all in April?

[Rose-Colored Boy]

Just now, The Nal said:

Why not just save the money yourself and pay it all in April?

Why not give people the choice? So many other businesses do (and ones with a much smaller profit margin than GFL, at that). 

[squirrelarmy]

4 minutes ago, vertigocarbon said:

The counter argument is that christmas is effectively a necessity whereas a festival is not.

For me it’s the opposite. I could quite happily live without Christmas and frequently avoid it. Glastonbury on the other hand is a far more enjoyable occasion. 

[ProperTea]

No wonder the festival feels so middle class if people can't understand why it's easier for some to pay slowly in installments than one lump sum of 285 🤣

Edited July 5, 2022 by ProperTea

[The Nal]

1 minute ago, Rose-Colored Boy said:

Why not give people the choice? So many other businesses do (and ones with a much smaller profit margin than GFL, at that). 

But whats the difference? Theres no discount doing it this way. You still have to pay the same amount.

So instead of paying 50 quid and then 4 x 60 odd quid through the year, save the 60 odd quid x 4 and pay it all in April. 

[incident]

25 minutes ago, kalifire said:

Having to find seventy quid four times over six months can be easier than having to find two hundred and fifty in one go.

Given that the 250 comes at what would be the end of the process - people can set it aside as they and achieve the same net effect. Having it as 250 in one go is actually more flexible as someone can choose the time and amount.

Yes, I realise that some people won't be able resist spending the cash they've set aside - but to be blunt in this day and age there's enough tools in digital banking apps that they can choose to use to mitigate if they want (savings pots, drip feeding, etc) that it's not for the festival to solve.

[gooner1990]

I spread the payment of my Arsenal season ticket over 10 months with a finance company called V12 that Arsenal have a partnership with. 
 

paid £120 upfront then £90 a month over the season find it much easier than paying £900 in one go.

Truck Festival also allow instalment plans as well…makes it a bit more manageable.

 

[Smeble]

pretty much every festival in the UK offers a payment plan, people who don’t like this for Glastonbury are a strange bunch, can’t for the life of me think why some people wanting to spread the cost is so egregious a notion to people on here.  Just a symptom of the sense of  entitlement some people on here have towards the festival.🤷‍♂️🤷‍♂️

[ProperTea]

2 minutes ago, incident said:

Given that the 250 comes at what would be the end of the process - people can set it aside as they and achieve the same net effect. Having it as 250 in one go is actually more flexible as someone can choose the time and amount.

Yes, I realise that some people won't be able resist spending the cash they've set aside - but to be blunt in this day and age there's enough tools in digital banking apps that they can choose to use to mitigate if they want (savings pots, drip feeding, etc) that it's not for the festival to solve.

To be fair that's a good point.

It makes me wonder why banks still offer mortgages? Can't people just put the money aside for a house and then buy it all in one lump sum in cash?

Edited July 5, 2022 by ProperTea

[incident]

12 minutes ago, Deaf Nobby Burton said:

I don’t see how this is a factor. I’m not an accountant but I am self employed, when I earn my income in a reporting period is irrelevant, the tax liability is the same, income is income regardless of when you receive it. It would be somewhat odd if the timing of income in a reporting period had an impact on how much tax you pay.

The general theory is, having the bulk of the cash in the same VAT quarter as the festival (ie the outgoings) helps with reporting or cashflow.

[Rose-Colored Boy]

3 minutes ago, The Nal said:

But whats the difference? Theres no discount doing it this way. You still have to pay the same amount.

So instead of paying 50 quid and then 4 x 60 odd quid through the year, save the 60 odd quid x 4 and pay it all in April. 

It’s a relatively minor change which would make things just a tiny bit easier for people (and potentially mean less people having to give back their ticket in April because they suddenly realised they forgot to manually save money over Christmas etc). Honestly don’t see the issue. 

Edited July 5, 2022 by Rose-Colored Boy

[gfa]

Another point is payment plans are mostly for students / other younger people who can't afford to pay all in one go - but are worried about a potential sell out. Glastonbury sells out straight away every year and because of this they can be picky about how they want people to pay - so therefore there isn't really a benefit. If you don't want to save up for 6 months to get your ticket, its fine - because theres 100,000 other people who will.

edit: no payment plans also helps everyone who has no issue paying the lump sum in one go in a selfish way

Edited July 5, 2022 by gfa

[Smeble]

2 minutes ago, The Nal said:

But whats the difference? Theres no discount doing it this way. You still have to pay the same amount.

So instead of paying 50 quid and then 4 x 60 odd quid through the year, save the 60 odd quid x 4 and pay it all in April. 

The difference is you set up a direct debit and it just comes out of your account, no need to remember to save, no massive lump sum to find in one go, not a hard concept to grasp surely? 

[ProperTea]

Just now, gfa said:

Another point is payment plans are mostly for students / other younger people who can't afford to pay all in one go - but are worried about a potential sell out. Glastonbury sells out straight away every year and because of this they can be picky about how they want people to pay - so therefore there isn't really a benefit. If you don't want to save up for 6 months to get your ticket, its fine - because theres 100,000 other people who will.

That's not really the Glastonbury spirit though, surely? Do we not want as many people as possible to be able to afford to go? 

[gfa]

1 minute ago, Smeble said:

The difference is you set up a direct debit and it just comes out of your account, no need to remember to save, no massive lump sum to find in one go, not a hard concept to grasp surely? 

another thing to consider is that this also means more customer support is needed - i guess it would be through seetickets but still. tons of people have to get their ticket manually restored when they don't have the money in the right account / all kinds of other excuses. its just a pain

[gfa]

1 minute ago, ProperTea said:

That's not really the Glastonbury spirit though, surely? Do we not want as many people as possible to be able to afford to go? 

the message was edited 😉 for certain - but i think in a seflish way a lot of people on here would appreciate there being less people after tickets!

[Smeble]

5 minutes ago, The Nal said:

But whats the difference? Theres no discount doing it this way. You still have to pay the same amount.

So instead of paying 50 quid and then 4 x 60 odd quid through the year, save the 60 odd quid x 4 and pay it all in April. 

Have you heard of a thing called a direct debit? People spread the cost of all sorts of things, why would a festival be any different. 

[Rose-Colored Boy]

1 minute ago, ProperTea said:

That's not really the Glastonbury spirit though, surely? Do we not want as many people as possible to be able to afford to go? 

Quite.

[Deaf Nobby Burton]

2 minutes ago, incident said:

The general theory is, having the bulk of the cash in the same VAT quarter as the festival (ie the outgoings) helps with reporting or cashflow.

They’ll have an accounting period though, like every business which will be 365 days. When they earn income in that period will be irrelevant, their tax and VAT liability will be the same. Otherwise why do the vast majority of businesses, and things like car tax and the tv licence cost more to pay monthly, rather than in one go at the front rather than delaying it and paying it later. There is simply no benefit to a business in receiving income later on in their reporting period compared to at the start or just earlier on.

[brettredmayne]

I wouldn’t be shocked to see the deposit rise to £60 soon 

[Mr. B]

Surely more transactions = more fees, more internet traffic, more support = more cost. With demand continuing to far outstrip supply, I don't see the incentive for the festival to implement a payment scheme.

I do agree that the original deposit could at some point be upped.