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Should I get a loan?
- Thread starter Quap
- Start date
dhomer
Commercial User
- Apr 9, 2009
- 675
- 13
- Disclosures
- Owner, Gigmaster Soundworks, Auth. greenboy designs builder, MI
I'm in agreement w/most of ya.. Financing anything but your home ain't a good idea.. in fact I'm waiting to close on a home of which the financing arrangements are almost too good to be true.. Back to the point.. Having said what I said, I did pull out the plastic to buy my current axe (USA Peavey Millenium + fiver).. However at the time I was gigging 50 weekends out of the year, and the income helped pay for it.. Without that music-related income stream, I wouldn't have done it. I also believe in my "11th commandment"... Thou shalt not have a car payment.. under ANY circumstance.. You don't spend hundreds of dollars a month in vehicle repairs.. pocket the difference w/a carefully selected "beater"..
& for all, no matter your view on debt, some black & white:
The economy is such now that there is no job security, no matter your profession. Companies are still firing, and still not hiring, with few exceptions.
Live-music gigs are fewer and farther between than ever, and pay for those gigs is stagnant, or going in reverse.
Basses, even the good ones fairly priced, take FAR longer to sell than even 6 months ago - unless they are unusually rare or desirable, etc.
The economy is such now that there is no job security, no matter your profession. Companies are still firing, and still not hiring, with few exceptions.
Live-music gigs are fewer and farther between than ever, and pay for those gigs is stagnant, or going in reverse.
Basses, even the good ones fairly priced, take FAR longer to sell than even 6 months ago - unless they are unusually rare or desirable, etc.
I'm actually with you on the car payment... paid cash for most of mine and bought them used because the depriciation you experience on a typical new car could cover several Sterling purchases.
I say it depends what you're using it for.
Are you in a paid band that is making more than a few hundred every week? If yes....then go for it. It is your hammer and you need it to feed yourself. It will be paid off soon enough.
If it is for your hobby/garage band/etc......you better not take out a loan for it.
Are you in a paid band that is making more than a few hundred every week? If yes....then go for it. It is your hammer and you need it to feed yourself. It will be paid off soon enough.
If it is for your hobby/garage band/etc......you better not take out a loan for it.
It really depends on where you are and what you're doing, doesn't it? In fact I just got a raise on one of my higher paying frequent agency gigs. And many basses still sell fast if the price is low enough. Just saying... it's not as black & white as many seem to think.
- Dec 21, 2007
- 15,230
- 45,085
- Disclosures
- Lark in the Morning Instructional Videos; Audix Microphones
If your bonus is due in 2 mos, and you're in love with THAT BASS, put down a deposit and they will hold it for you. At least, most stores will.
I agree. It does depend, and among the other intangibles are how much extra $$ the OP has access to, whether his own or family members.
Just saying, HECK of a lot of uncertainty out there, and one's financial situation can change in the blink of an eye (except for those who have no debt at all and loads of funds waiting to be tapped).
Yes, it is a good deal.
I know this is some great advice being offered but it's not what the OP is asking for.
My $0.02. I will never use a store credit card for any purchase ever. My credit is almost 800. Please take a minute to think about the negatives of financing a bass before making your decision.
/end thread
I know this is some great advice being offered but it's not what the OP is asking for.
My $0.02. I will never use a store credit card for any purchase ever. My credit is almost 800. Please take a minute to think about the negatives of financing a bass before making your decision.
/end thread
No - wait until you have the money.
Since you actually asked TB, I'm going to assume that $1019 is a lot of money to you, and worth starting a post over. Whether it is a 'lot' is relative - it also depends on your overall debt load, your other expenses, etc.
There is no way to guarantee your bonus, unless you have a contract which clearly states that you will receive it in 2 months.
Whether it is a super great deal or not - wait on it. You'll find the same deal, if not better again. You might have to hunt for it, but you'll find it again.
I'm in the same boat - I want an Omega watch, and certainly have enough credit to go pick one up on the way home today. However, I would be assuming a significant amount of debt, which isn't in my best interest while trying to save for a house. My little cash envelope in my desk at home - it grows steadily, though, and I will have it soon enough.
ian
Since you actually asked TB, I'm going to assume that $1019 is a lot of money to you, and worth starting a post over. Whether it is a 'lot' is relative - it also depends on your overall debt load, your other expenses, etc.
There is no way to guarantee your bonus, unless you have a contract which clearly states that you will receive it in 2 months.
Whether it is a super great deal or not - wait on it. You'll find the same deal, if not better again. You might have to hunt for it, but you'll find it again.
I'm in the same boat - I want an Omega watch, and certainly have enough credit to go pick one up on the way home today. However, I would be assuming a significant amount of debt, which isn't in my best interest while trying to save for a house. My little cash envelope in my desk at home - it grows steadily, though, and I will have it soon enough.
ian
Unless you are buying an instrument that you know will appreciate in value, it doesn't make sense to take out a loan. Assuming these guys don't have a 90 days same as cash policy, you might could talk them into some kind of layaway plan, you pay them a couple of hundred to hold until you receive your bonus.
Save your money up. I'm willing to bet you can find one of these on eBay for less money after your bonus comes in.
Save your money up. I'm willing to bet you can find one of these on eBay for less money after your bonus comes in.
It is more than I have right now.
Every employee all 30,000 plus of us get our version of profit sharing every year, it is tracked and reported on a monthly basis and has steadily increased over the past 24 months. Our industry is one that does better when people shop for a good deal.
That being said, I do really want a bass like this one. And 700+ off of MSRP seems like an amazing deal.
I guess I'll see what the boss says tonight when I get home.
