Would you go into debt for it?

MakiSupaStar · #1 06-01-2009, 04:41 PM

Ok. There is a 1973 Fender Jazz bass for sale. In very good condition. Tobacco sunburst with mother of pearl inlays. She looks good. The guy wants 3100 bucks for it. To me this is my dream bass. So much of the music I love was played on this bass from this year. This is the only time I've ever seen this bass for sale in my years of perusing adds and craigslist. I'm really tempted to go into debt for it. Would you? If not this bass, would you go into debt for your dream bass? What to do what to do what to do.....

popinfresh · #2 06-01-2009, 04:44 PM

Do it, just live cheap for a while and cut back on other things.

Not like the opportunity is going to knock soon again.

username n/a · #3 06-01-2009, 04:45 PM

I wouldn't but it seems to mean a lot to you so maybe you should?

CrispyDelicious · #4 06-01-2009, 04:46 PM

I guess if you want it, go ahead, though I have never understood the allure of old/used things, especially when they somehow become more expensive.

UncleFluffy · #5 06-01-2009, 04:46 PM

How many months-to-repay of debt? Even for something that really is a "dream bass" (for me, it'd be a 69 P) I'd not go past 12 months worth of debt, preferably 6.

If you can pay it off in under a year, I'd say go for it - it's not going to depreciate, so if stuff goes crazy you can sell it.

warwick.hoy · #6 06-01-2009, 04:46 PM

You are obviously a Family Man fan

If you can afford it; by all means. I don't need to tell you any of this...but weigh in on your job security, consider your other debts, your credit situation.

I went into debt to get my current bass; that at that time was my dream bass, and an amp I no longer have. This was almost 10 years ago and I was 20 yo. I own it now, so after the initial buyers remorse...difficulty holding a job and getting the loan paid off...I have no regrets...my credit OTOH.

EDIT: I'm still satisfied with my bass and it is my only one. It certainly wasn't an investment in the collectors sense...but it has made me a bit of money over the years. That Jazz OTOH may retain it's value...if not gain value (I'm not a collector so I wouldn't know for sure). Could be worth it short term to go into debt.

EDITx2: [Preemptive defensive posture]...My credit is no worse for the wear...honestly...my wife aren't into the whole debt thing, and ours is very slight...aside from some medical bills and the garnishment issue (some of you are aware of that...and I won't get into it.. this is Maki's thread). We pay cash for everything and aren't aspiring homeowners.

CrispyDelicious · #7 06-01-2009, 04:51 PM

Quote:

Originally Posted by warwick.hoy

You are obviously a Family Man fan

If you can afford it; by all means. I don't need to tell you any of this...but weigh in on your job security, consider your other debts, your credit situation.

I went into debt to get my current bass that at the time was my dream bass and an amp I no longer have. This was almost 10 years ago and I was 20. I own it now, so after the initial buyers remorse...difficulty holding a job and getting the loan paid off...I have no regrets...my credit OTOH.

This is the position I am in now... 26 years old, living alone, in university, also trying to pay for $7200 of new bass and amp.

Not good planning on my part.

And yet I still check the pedal classifieds daily.

Jared Lash · #8 06-01-2009, 04:57 PM

If I had a chance to play it first? Yes.

And if not, no.

The right vintage Fender is a magical thing. I was never a Fender guy, I dig modern basses and active electronics and they always seemed outdated and overpriced to me. Then I played a fantastic 68 P-bass and I immediately "got it". Same with an early 70's Jazz. Just played like butter, and had that familiar, fantastic tone.

But the other side of the coin is that I've played some vintage Fenders that were mediocre or even absolute dogs. IME it's been about a 50/50 proposition each time I've tried one. Going into debt for your dream bass is one thing. Going into debt for an expensive illusion is something else entirely.

If you've played it and love it, I say sell whatever gear you can, make it your primary bass and be a happy dude. And as warwick.hoy points out, as long as you take care of it and it's a real player of a bass you should be able to get all your money back (if not more) should you ever need to flip it.

UncleFluffy · #9 06-01-2009, 04:58 PM

One important point about going into debt to buy something: *never* use debt to buy a depreciating asset.

A new bass/amp is a depreciating asset, so if things turn sticky you can't sell it to pay off the loan.

A vintage bass/amp is - on average - going to increase in value over time. Even if it stays the same, you can sell it to pay off the loan and you still got to play it rent-free for a while.

(This applies to everything, not just music gear, by the way).

machine gewehr · #10 06-01-2009, 05:03 PM

Quote:

Originally Posted by CrispyDelicious

This is the position I am in now... 26 years old, living alone, in university, also trying to pay for $7200 of new bass and amp.

Not good planning on my part.

And yet I still check the pedal classifieds daily.

You're 16 and still in university. Man am I relieved now...

Joe Gress · #11 06-01-2009, 05:05 PM

Quote:

Originally Posted by machine gewehr

You're 16 and still in university. Man am I relieved now...

26

machine gewehr · #12 06-01-2009, 05:07 PM

Quote:

Originally Posted by joeinsprings

26

Yes,2 am + a beer + a confused mind leads to mistakes.

bassteban · #13 06-01-2009, 05:08 PM

If I were you, yes. Think I'll go post in your two cents thread now, for balance.

Joe Gress · #14 06-01-2009, 05:09 PM

Quote:

Originally Posted by machine gewehr

Yes,2 am + a beer + a confused mind leads to mistakes.

Joe Gress · #15 06-01-2009, 05:11 PM

Oh, and 155,000 two cents worth.

ksandvik · #16 06-01-2009, 05:14 PM

I must say no. Spend more time working on the technique. Most modern bass guitars are quite good nowadays. As for that road-worn look... Oh well.

Chunk-O-Funk · #17 06-01-2009, 05:15 PM

I can't believe I actually bought one for under $500.00 in the mid eighties. If I had any idea what they would be worth today I would have restored it instead of modifying it.

To answer your question.
My dream bass and absolutely had to have it? Couldn't sleep a night thinking about it?

Yep! Only as long as I could easily cover the payments if something went wrong, though. I wouldn't actually spend the money if I didn't have it.

CrispyDelicious · #18 06-01-2009, 05:18 PM

Quote:

Originally Posted by machine gewehr

Yes,2 am + a beer + a confused mind leads to mistakes.

YEAH

MakiSupaStar · #19 06-01-2009, 05:19 PM

Quote:

Originally Posted by TheBigO

If I had a chance to play it first? Yes.

And if not, no.

The right vintage Fender is a magical thing. I was never a Fender guy, I dig modern basses and active electronics and they always seemed outdated and overpriced to me. Then I played a fantastic 68 P-bass and I immediately "got it". Same with an early 70's Jazz. Just played like butter, and had that familiar, fantastic tone.

But the other side of the coin is that I've played some vintage Fenders that were mediocre or even absolute dogs. IME it's been about a 50/50 proposition each time I've tried one. Going into debt for your dream bass is one thing. Going into debt for an expensive illusion is something else entirely.

If you've played it and love it, I say sell whatever gear you can, make it your primary bass and be a happy dude. And as warwick.hoy points out, as long as you take care of it and it's a real player of a bass you should be able to get all your money back (if not more) should you ever need to flip it.

This is exactly where I sit. I've never been a big Fender fan. I also prefer more modern basses (my main bass is a Warwick Corvette $$), but I have always loved that one sound. 1973 Jazz bass. I just left message with the guy. So we'll see. I've dropped money on other stuff no problem, but for some reason I'm all giddy and nervous about this.

MakiSupaStar · #20 06-01-2009, 05:21 PM

Quote:

Originally Posted by UncleFluffy

One important point about going into debt to buy something: *never* use debt to buy a depreciating asset.

A new bass/amp is a depreciating asset, so if things turn sticky you can't sell it to pay off the loan.

A vintage bass/amp is - on average - going to increase in value over time. Even if it stays the same, you can sell it to pay off the loan and you still got to play it rent-free for a while.

(This applies to everything, not just music gear, by the way).

This is the justification I will use to explain it to my wife.