Financing a Bass possible?

[Libersolis]

Right now I am in need of an upgrade, a good solid carved bass is what I am looking for.. Does anyone here know of any places in which financing is possible? For someone on my budget it is a bit more feasible than dropping 3-6k for one

[Bruce Jackson]

Are you a union member? Sometimes you can qualify for financing for an instrument with the union's credit union. The AFM site would have more info on it.

[TroyK]

Originally Posted by Libersolis

Right now I am in need of an upgrade, a good solid carved bass is what I am looking for.. Does anyone here know of any places in which financing is possible? For someone on my budget it is a bit more feasible than dropping 3-6k for one

Your profile isn't filled out, so I can't tell where you live, but here's a thought. At some music stores they rent basses. At Hammond Ashley in Seattle for example, they rent basses and your rental applies to the purchase of any bass, not just the one you rented. Check for programs in your area with companies like Brook Mays.

It's not quite renting, but it does let you spread your payment out over time. Another idea would be to open a credit card just for that purchase with a low intro rate. Buy it, pay the card off on your schedule and then cancel it. If you really want to take some time paying it off, you probably want to transfer the balance to another low intro rate every 6 moths, remembering to cancel them each time you close them out. Otherwise the credit card interest will kill you. It can be managed, though.

Good luck.

[Ed Fuqua]

Generally, ANY financial institution will loan you money for anything, based on your credit profile and what collateral you have. If you own your own home, car, etc. , no problem. If you have great credit and a good income to debt ratio, no problem.
MOST will NOT loan you money based on the instrument itself as collateral. A few exceptions are credit unions that are connecting with performing arts groups (for example the credit union here in NYC that is affilaited with both the Stage Actors Union and the AF of M.).

[christ andronis]

If you have a good credit history and claim your music income as a seperate business, try a business equity loan. I got one from a bank and float all my music expenditures through it. At the end of the year I can write off interest and take deductions on all the stuff I buy PLUS it's all accounted for. Be careful not to take advantage and start spending money on non-musical items.

[toman]

I don't know if there's anything similar where you are, but I'm a member of my local teachers credit union (not that you have to be a teacher to join...) and they're very easy and reasonable about relatively small loans, say, up to 20-25k if you have good credit or a co-signer. Interest rates are not super great, but their not killer either. For example I recently bought a classic car on a two year personal loan with them, and paid a little over ten percent interest. Plus it's always a good option if you find yourself wanting a specific bass but don't have the cash without selling your current one; just get the loan, buy the new bass, then when you sell the old one pay off the loan. It would hardly cost you anything.