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Cure for GAS: RECESSION!!!

#61
:cool:

Times are tight, for sure.
I've always used gig money to get new gear.
Never Credit.

This is a great time to buy.(If you have a little extra money)
So much great used stuff, coming out now)
And New, items, can be haggled down in price.

The are big deals to be had?
That's what I tell my wife:D
 
#62
KUNGfuSHERIFF said:
Wise move. Part of my job has to do with following the ups and downs of Wall Street. Right next to my monitor is an inch-thick stack of really bad news, and that's just the stuff that's entered the public domain. Behind closed doors, ALL the alarms are going off. This slide is going to seperate the ants from the grasshoppers.
Click to expand...


+1. Just before the recent slide I stated my opinion on TB that it was going to get worse. I was then frantically chastised by a TBer who said I had no right to post such things, since I'm not an expert in the field. The thread was closed, then my amateur prediction was sadly vindicated.
 
#64
I have to say again that although I have decided not to get that P5 at GC, I see nothing wrong with their year same as cash offers provided the borrower is responsible and not over extended. I have made purchases this way. It is the same as saving except you start out with what you want, and you can get punished if you mess up.

That's why a borrower must be responsible and not over extended.:)
 
#67
lomo said:
+1. Just before the recent slide I stated my opinion on TB that it was going to get worse. I was then frantically chastised by a TBer who said I had no right to post such things, since I'm not an expert in the field. The thread was closed, then my amateur prediction was sadly vindicated.
Click to expand...

I believe I remember that thread...considering that the line between economics and politics is razor-thin at the moment, that entire discussion was doomed from the get. For the record, I am speaking purely as a humanist, not as a partisan.:ninja:
 
#69
Yikes, days - no, make that weeks/months like this, I'm glad I don't have any credit cards - just a debit card, which I use instead of writing checks, and am da**ed careful not to overdraw on the account. Regular bills, car and house payments, yes, but no credit cards. It helps that the local M&D music store lets customers they know put even expensive instruments on layaway - $50 down, and as long as it takes to pay it off; if you got $50 this week to pay on it, and then nothing for a month, it doesn't matter to Mr. J. Of course, he also doesn't buy any new merchandise until he has the money in the bank to pay it off, so he doesn't have to worry about paying down business credit / loans either... I think I'm glad I didn't get a GC credit card last year, all things considered, or I'd probably have run it up for new head and cabs and what not... As is, I go in and look at the new G-K Goldline 500 amp and have to thwack my GAS pains / temptation real hard to keep it under control!
 
#70
Dr. Cheese, Given your situation I would do it. I completely understand and do not fault you for not doing it. In fact I suspect, the deals will get sweeter.

regarding the Current markets, let me first disclose that I am 38 years old.
I've spent more on fuel and energy cost in the last 2 years than I've lost on my 401k!
unless you are 7 or less years away from retirement, Who cares?

If you are I feel for you, now how much will you let that series one go for?

The market will corect it self.
 
#71
Part of my daily routine of late, has been to scour the on-line boards locally for "deals".
Technically, I have no need for another bass... but I can say that in the last two to three weeks, the number of items hitting the boards has jumped substantially! And, to make it even more difficult, the items being posted are things you just don't normally see coming up for sale!
At this point, folks are still trying to get what they perceive as "top dollar" for their goods, but I suspect that as this "crisis" continues, those who have a little nest egg of disposable income, will be able to find some items that they simply won't be able to say no to!
I had an interesting conversation with my real estate broker the other day. I asked her what affect this financial crisis is having on her business, this was her response;
"the sellers think it's still last year and the buyers think it's next year". That's a pretty telling statement about what folks are going through right now...
Anyway, as I said, folks with some disposable income, will most definitely benefit from others pain... not the best scenario, but I do believe it to be reality.
fishheadjoe
 
#73
Off the top of my head I can think of only three reasons to use credit, especially these days:

1. It's something that you absolutely must have for survival or livelihood and paying cash is not possible due to the amount involved (house, car...)

2. It's an investment, and with it you will earn enough more than you would without it to pay for it along with the interest.

3. You're buying on-line and must use CC (but pay that balance off immediately)..

The "same as cash" deals are OK, I guess, but be very careful. Those deals usually have a clause where if you miss the end date by even a tiny amount of time, interest for that whole time, plus finance charges, late fees, etc. all kick in at once. Some outfits will try very hard to find a way to delay the posting of your payment until after the end date just to try to hang you with that crap.

So, if you go for a deal like that, don't wait until anywhere near the end time to pay it off, and if you pay by mail, send your check registered mail so they have to sign for it and there's a time stamp on the exchange proving that they got it and when. I once got caught in a situation like this with a flooring company, and it took me nearly two years to get clear of it.
 
#74
ggunn said:
The "same as cash" deals are OK, I guess, but be very careful. Those deals usually have a clause where if you miss the end date by even a tiny amount of time, interest for that whole time, plus finance charges, late fees, etc. all kick in at once. Some outfits will try very hard to find a way to delay the posting of your payment until after the end date just to try to hang you with that crap.
Click to expand...

yup... one of the best ways to beat a "Same as Cash" deal is the way I do it:
1) buy stuff
2) take total / (Time Period - 1)
3) Add 10% and round to nearest $5

If I spend $300 on 6-month "Same as Cash" deal, I'd pay it off over 5 months at about 65 a month, except for the last month, it would only be $40.

I also know folks who buy major gear on credit card ONLY. I'm not talking effects or strings. I'm talking amps, cabs and guitars (or other gear). They do it in a very controlled manner. It's a single card with a relatively low maxiumum (on purpose), and they pay as much as they can each month until $0.00. One of my friends who does this does this about once every couple of years, and ends up paying it off in about 3-4 months. I think he keeps the card locked up in a safe when he's not using it ;-)
 
#75
If you buy gear on a regular basis, it means you will never be fully happy. With the economy the way it is, make what you have a part of you. All these things add up. next thing you know you may be the one facing hard times and selling what you got at a much lower price. Stay out of debt.
 
#76
bassman314 said:
yup... one of the best ways to beat a "Same as Cash" deal is the way I do it:
1) buy stuff
2) take total / (Time Period - 1)
3) Add 10% and round to nearest $5

If I spend $300 on 6-month "Same as Cash" deal, I'd pay it off over 5 months at about 65 a month, except for the last month, it would only be $40.

I also know folks who buy major gear on credit card ONLY. I'm not talking effects or strings. I'm talking amps, cabs and guitars (or other gear). They do it in a very controlled manner. It's a single card with a relatively low maxiumum (on purpose), and they pay as much as they can each month until $0.00. One of my friends who does this does this about once every couple of years, and ends up paying it off in about 3-4 months. I think he keeps the card locked up in a safe when he's not using it ;-)
Click to expand...

doesn't make much more sense to work for the positive-balance side than the credit side.

In other words...why not just save up as much as you can for 6 months and then make the purchase as required.

The ONLY thing I try to finance is my house...I had to finance a car two years ago (I had no choice)...but that was the first car loan I've had since 1991.
 

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