I like the post above from Hank....buy used if you can so you won't be out any money should you end up not liking it.
First thing I should mention is that the Sterling Ray 34CA has been discontinued and replaced with the Sterling Ray24. The difference here is the new Ray24 (classic) uses a ceramic pickup whereas the discontinued Ray34CA had Alnico.
Tbh, the Ray4 (SUB series) might be enough to give an idea whether the Ray is something you can use or want. Buy used and if you like it enough, re-sell it then save up for the EBMM Ray. The Sterling Ray24 and Ray34 are indeed a little better if you want something in between.
Another option is to go with another of Leo's creations, a G&L L2000. A Tribute version uses the exact same US made pickups and electronics as the more expensive US version and are extremely versatile basses, more than any Stingray bass imo. I have a US EBMM SUB Ray, have owned a few Sterling SUB basses and also a Ray 34. I have also owned several G&L Tribute basses including the L2000.
This alnico/ceramic difference is not trivial. Gotta vote for alnico.