MissingSomethin
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Buy a used guitar.
It's all about balance and personal choices if you're fortunate enough to have them.Quite literally every time I see a thread like this I just laugh at the people who live their entire lives via an equity sheet. As long as you can afford what you are having to pay, and you get that value of enjoyment out of what you are buying, then who gives a crap as to who is earning the money????
Ask them if they will deduct the carrying cost, interest, that is built into the 12 "interest free" payments if you pay in full up front.Some of the main music stores in Canada offer periodical financing deals at 0% over a 12 month term. Wondering if this is something to take advantage of or stay away from?
I’ve financed before, and I just hate having debt and owing money. However 0% only charges me for the cost of the guitar + tax. If I’m saving for a guitar anyways, why not be able to have the guitar earlier and pay it off in smaller increments? The only difference is that I’m paying tax and the full price of a new instrument. Typically I’d buy used with cash on reverb or kijiji because then I can negotiate the price a bit, but then I run the risk that comes with buying a used instrument (I’ve been had before).
What do you think?
Slight correction: GE spun off what became Synchrony when divesting of the Capital arm. Leadership came directly from GE and stock options between the two were plentiful for the higher-ups. That arm is still the same company it was when it was part of GE.I used to work for a retailer that had their own 0% card. Same bank that handles GC/MF, Sweetwater, and a whole bunch of other retailers.
The retailer pays the points up front. 6 months might cost GC 10% of the total. 48 months might cost them 30%. Thats why the promo periods change throughout the year, Synchrony (the bank) is offering the promo terms to the retailer in the form of lower fees on the term. Combine that with manufacturer/distributor promos and you get 48 months no interest at a price that makes sense for the dealer. Synchrony is absolutely not banking on the customer failing to pay. Before the 2008 recession, (GE Capital at the time) had been way too loose with who they gave credit to. It damn near ruined them when no one had the money to pay back their toys. Thats why Synchrony is handling those accounts now and has much higher requirements and offers lower limits than GE did.
Thanks! New boss same as the old boss, then?Slight correction: GE spun off what became Synchrony when divesting of the Capital arm. Leadership came directly from GE and stock options between the two were plentiful for the higher-ups.
Agreed. I remember saving up for a year for a good amp while using some POS to get me by. My band started gigging when we were pretty young- it would have been dope to be cranking a Marshall stack at that age instead of whatever it was I was using. To top it off I literally just saved up the money the week of a big show and had my little brother hop on a bus to go downtown to go buy it and my first go at the new amp was onstage.I really regret not financing a guitar and amp at Long & Mcquade when I was younger. Instead I made do with crap gear.
I see nothing wrong with buying a guitar making payments. I just finished a year with AMS paying for my Fender 68 Vibrolux Reissue Amplifier with no interest. I am now buying a Epiphone Dove acoustic from Sweetwater with no interest for 8 months. Back in the 90's I bought a lot of musical gear from Musicians Friend with no interest. They will not do that now without a credit check first. I am really glad I made the decision to buy the amplifier because it is paid off and I own it. Only a few more payments on my Dove and it is mine. If you are really interested in buying a guitar with payments I would recommend American Musical Supply. Pay for a year and you own it. After a while you make payments every month without thinking about it and it's paid. AMS is absolutely hassle free, no pressure. Make the transaction on their website or call them. I did not care much for doing business with Sweetwater. You are assigned a salesperson who is suppose to follow through with your order. Mine bugged the crap out of me. He said the case I wanted for the Dove would fit the case and it did not fit. I had to send it back. Whatever you do I wish you the best of luck.Some of the main music stores in Canada offer periodical financing deals at 0% over a 12 month term. Wondering if this is something to take advantage of or stay away from?
I’ve financed before, and I just hate having debt and owing money. However 0% only charges me for the cost of the guitar + tax. If I’m saving for a guitar anyways, why not be able to have the guitar earlier and pay it off in smaller increments? The only difference is that I’m paying tax and the full price of a new instrument. Typically I’d buy used with cash on reverb or kijiji because then I can negotiate the price a bit, but then I run the risk that comes with buying a used instrument (I’ve been had before).
What do you think?