Anyone have experience with financing gear?
Part of me thinks, "terrible idea, just pay all at once."
But at the same time when I bought my MacBook, I used a Best Buy credit card because that was essentially the only way I could afford it. Paid it off pretty quickly and easily with no problems.
Thoughts? Has this been glossed over before?
And how does it really effect your credit?
I've done the Paypal credit route and had good luck. Once or twice the end of the no interest period has snuck up on me but so far hasn't gotten me yet. I'm pretty sure until it actually hits that point the Paypal credit doesn't show up on your credit report, at least I haven't seen any sign of it on mine.
I recently got a pretty big (for me) Sweetwater credit card... As tempting as it is to go wild with it, I just can't justify using credit for a major gear purchase if I know I will be able to either save up for it/sell something off to fund it. Also just about EVERYTHING I buy is used, sometimes b-stock. So my plan is to use this card to buy things like cables, strings... small stuff that I always end up needing, and just always pay it right off to build my credit more.
Down the line if I ever have more financial stability and want to start a "real" studio or something like that, I might use credit... but for now.. no no.
If you can pay it off quickly without accruing interest, do it. Your credit will build based on the cards you use and how you use them. Keep in mind there's an "overall" debt that loan providers will look into when you're trying to get approved for a house or car or something, though. So pay it off.
Also, PSA for those of you trying to build credit and are daring - Your credit will actually go up if you carry about $2000 worth of credit debt for a few months at a time. But I don't recommend that unless you're in a spot where you can pay the balance immediately if you foresee a pinch coming.
Affirm has been good to me, and it's helped me pick up pedals I would've missed out on otherwise (Supermoon Chrome, acid-etched Chase Bliss pedals, etc.). The best part about Affirm is that you can pay off entire months in advance.
If you purchase an item today, 4/2, then your first payment won't be due until about 5/2. That gives you a month to make your first payment. If you're repaying the loan in $18 monthly installments, you can actually go ahead and pay 6/2, 7/2, et cetera, whenever you want. You could also make a payment over $18, and all the extra funds would go to your last payment (5/2/17). I wish more of my accounts worked like Affirm does.
It should bear noting that some dealers (like ProAudioStar) actually offer 0% Affirm financing if you can qualify, and those Affirm loans shouldn't show up on your monthly credit report. I've used Synchrony as well (Amazon, Sweetwater, Musician's Friend). If you're going to use credit to fund purchases, try to make purchases during sale weekends and during extended offer periods (36, 48-months). This will reduce your monthly payments and make debts more manageable.
I've been using Paypal credit for years. No issues other than minor hiccups. It's very easy and great if you can make the payment or get 6 months no interest, which is almost on anything.
The only catch is that you have to be super careful like with any CC. I've had that fucking thing racked up to over 2k a few times and started freaking trying to figure out how to pay shit off. Sooooooooooooooooooo...just be careful is my advice.
"I do not have the ability to think rationally 90% of the time and I also change my mind at the drop of a hat".
I'm just wondering how many TGP guys use credits to pay their fulfilled PT-Grande with the 3 big box Strymons, their DMC midi controllers, Cornish pedals and original Klons...
My answer to the question is that I never used credits to purchase gear. That maybe explains the fact that I only have 1 pedalboard, no spares and only 2 electric guitars. I really love what I have and feel lucky to be able to get it, but I mainly sell something off to buy a new pedal or wait for birthday/Xmas.
Fuzzonaut about the RM-1N:
"Amp in a box"?
No, there's no amp in there - tone fairies and feedback goblins live inside this box.
I'm currently paying off my paypal credit balance. It never got over $800, but I bought a few too many things under the 6 Months No Interest No Payments after telling myself "oh, I'll rearrange my finances by then and it'll all work out." LOL I told myself a lot of things. Ended up selling off much of the shit I bought, which is a deep bummer. I'm shit with credit anyway and have some pretty big balances on my actual credit cards.
HOWEVER, I really liked the Sweetwater deal that was going on in March - zero interest for 36 months! I thought about buying an amp like that - conceivably around $30 a month for a mid-priced amp like a drri, but I talked myself out of it, just because they didn't have any amps I actually really WANTED as part of the sale. Ordered a couple pedlols though, which I plan on paying off WAY before the 36 months have passed, but as it stands it's like $10 a month.
This is a very impressive collection of Roto Toms. That's 21 Roto Toms in all. That is only $33.00 a Roto Tom.
I've done it all. Store credit system, Affirm and PayPal credit.
Use to do the American Music Supply 3, 6 or whatever equal payments no interest and it would automatically get deducted from my bank account.
Did Affirm once because the place didn't accept PayPal Credit and didn't find out until after I purchased so I was in a pinch. Have good credit and still had like and 18% APR and thought that was bullshit. Ended up paying it off in 10 days so I didn't have to pay a lot of interest.
PayPal Credit is the best. 6 months no interest is the tits. I wish it was on all transactions though. When I buy something off an ILF bro it doesn't count towards the special offer unless it's Christmas time (for some reason in December all transactions are covered) or you ask them to invoice you then it's covered (but you can gift payment that way).
untilshewokeme wrote:When I buy something off an ILF bro it doesn't count towards the special offer unless it's Christmas time (for some reason in December all transactions are covered) or you ask them to invoice you then it's covered (but you can gift payment that way).
It used to work for any transaction but they changed it which sucks.
When is Science gonna start financing, that's what I'm interested in
untilshewokeme wrote:When I buy something off an ILF bro it doesn't count towards the special offer unless it's Christmas time (for some reason in December all transactions are covered) or you ask them to invoice you then it's covered (but you can gift payment that way).
It used to work for any transaction but they changed it which sucks.
When is Science gonna start financing, that's what I'm interested in
They do if you use PayPal Credit. You gotta cover the fee but that's how I did my Mother at the time.
untilshewokeme wrote:When I buy something off an ILF bro it doesn't count towards the special offer unless it's Christmas time (for some reason in December all transactions are covered) or you ask them to invoice you then it's covered (but you can gift payment that way).
It used to work for any transaction but they changed it which sucks.
When is Science gonna start financing, that's what I'm interested in
They do if you use PayPal Credit. You gotta cover the fee but that's how I did my Mother at the time.
untilshewokeme wrote:When I buy something off an ILF bro it doesn't count towards the special offer unless it's Christmas time (for some reason in December all transactions are covered) or you ask them to invoice you then it's covered (but you can gift payment that way).
It used to work for any transaction but they changed it which sucks.
When is Science gonna start financing, that's what I'm interested in
They do if you use PayPal Credit. You gotta cover the fee but that's how I did my Mother at the time.
Oh.
Oh shit.
I don't think I'm eligible being in Auslandia, though.
WWPD?
fcknoise wrote:You are all fucking tryhard effort posting nerds
Invisible Man wrote:
I'm probably the most humble person I know. I feel good about smelling my own butthole.
Jesus Was a Robot wrote:Did you just assume Billy Corgan's dildo preference??
I do the AMS or ZZounds 3/4/6/8/12 payment stuff. One big allowed purchase at a time (I can swing a couple hundred tops a month in gear slush fund without incident).
Done my Casino, Gibson no-F hole 339, and my incoming LP Studio on the big plans.
They don't appear to affect it one way or another - their check is to see if you *exist* and if you haven't screwed them before, #yolo.
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My pedalboard costs approximately 191 Metal Zones.
