1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

Financing for gun purchase

Discussion in 'Shooting Related Threads' started by sabretooth, Oct 8, 2012.

Thread Status:
Not open for further replies.
  1. sabretooth

    sabretooth Member

    Joined:
    Nov 21, 2011
    Messages:
    41
    Does anyone know of a financial institution that would finacne a gun purchase?
     
  2. Hitapair

    Hitapair Active Member

    Joined:
    Jan 29, 1998
    Messages:
    2,357
    Hal Dupont finances the K guns that he sells. (Actually its his daughter now that has the business according to recent adds) Jaqua's also does. If you have established a credit relationship w/ a bank, I don't know why they wouldn't loan the $$. The bank may want add'l security or other security.
     
  3. jbmi

    jbmi Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    1,488
    Set up a line of credit with your bank or credit union, pretty easy to get about 20K on a signature.
    Use it as needed, no questions asked about what it's for.
     
  4. K-GUNS

    K-GUNS Member

    Joined:
    Jan 29, 1998
    Messages:
    629
    Location:
    Pottsville Pa
    Allems guncraft would arrange it for new gun purchases. K-guns, P - guns and such.
     
  5. shot410ga

    shot410ga Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    7,974
    If you can't afford to buy the gun outright maybe you should reevaluate your shooting and life priorities. Trap Shooting is not cheap. The gun does not make the shooter.
     
  6. oldgahchamp

    oldgahchamp Active Member

    Joined:
    Jan 29, 1998
    Messages:
    1,263
    as jbmi said, it's ptetty easy if you have a decent credit rating to get an equity loan on your home and use it as you please. Larry
     
  7. 1oldtimer

    1oldtimer TS Member

    Joined:
    May 16, 2010
    Messages:
    2,003
    Sportsman's Den in Shelby,OH will finance a gun for you.
    Clyde
     
  8. 635 G

    635 G Well-Known Member

    Joined:
    Jun 30, 2008
    Messages:
    6,588
    I was taught interest makes smart people rich & not so smart people poor. No need to finance toys. IMHO,

    Phil Berkowitz
     
  9. slayer

    slayer Well-Known Member

    Joined:
    Nov 16, 2006
    Messages:
    3,018
    Location:
    beautiful northern michigan
    Have to go with Phil and 410 on this one. A shotgun is a toy, pure and simple. One shouldn't finance toys, just buy what you can afford without borrowing. You might need to save that borrowing power for a necessity. JMVHO Bill
     
  10. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,802
    Location:
    Green Bay Wisconsin
    My Dad hated interest. He told me house, car, and maybe major appliances (because of need) were the only things to put on time payments.

    Nerdwallet.com:

    "Credit card debt is the third largest source of household indebtedness, averaging $15,587 per indebted household as of June 2012. Only the $13.5 trillion mortgage debt market, and the ~$1 trillion student loan debt market are larger.

    Indebted American households have a substantial amount of credit card debt: of the estimated 46.7% of households that carry a balance, the average debt is a whopping $15,325 as of July 2012. Though this is a decline from June 2012, it’s sharply higher than the lows of early 2011."

    They must not have had a Dad.

    HM
     
  11. spitter

    spitter Well-Known Member TS Supporters

    Joined:
    Jan 29, 1998
    Messages:
    4,402
    Location:
    Prairie State
    There is absolutely nothing wrong with financing a major purchase and paying some interest... it's all part of the business transaction, but you have to have your eyes open going in...

    If you're the person who is fickle and will buy and sell a gun after a few months of frustration - financing is not for you... Want that Perazzi, Krieghoff, Kolar, Guerini of a lifetime and want to buy it over a 24-36 months... great way to enjoy a shotgun, while paying for it...

    With available equity lines under 3-4% interest (possibly tax-deductible), I would not be shelling out $5-10K in cash... rather have the reserve liquidity and use of someone else's dough.

    Jay
     
    arcadyus thanked this.
  12. MDMike

    MDMike Well-Known Member

    Joined:
    Nov 30, 2011
    Messages:
    1,238
    I realize guns are toys and maybe shouldn't be financed. That being said, if someone wants to finance a firearm purchase, that's their business. Now, a good friend of mine is a class lll dealer (machine gun) and with only a finate number of guns available to the public and more demand as time goes on, it is not uncommon for a purchace to be financed. I used to shoot with two guys. One was quite wealthy and the other was of average means. Both were on the "back fence" or 27 yd. line. And both wanted that "magic" (and quite expensive) Kregoff. And both financed their purchase, one with his credit card and the other with his home equity line. One because he didn't want to use his cash and one because he didn't have the cash. And both, to my knowledge, are still enjoying their shotguns. Life's short, and if you want to enjoy something (sports car, SUV, shotgun and the like) and if you can do so without injury to yourself and family while still meeting your obligation, go for it. It's no time to say to yourself "I should have done ------" when you're under the lights in the emergency room looking up at the guy with those shock paddles. And I've never seen a Brink's armored car in a funeral procession, so you ain't taking it with you.
     
    Garyd thanked this.
  13. Stl Flyn

    Stl Flyn Banned User Banned

    Joined:
    Apr 6, 2010
    Messages:
    9,131
    Money movement makes the world go around. Though I have not financed anything but my house since 1997. That being said, the reasoning is because that interest, even though it may be deductible, still costs you money. You are only getting back a small portion of those costs. Depending on your tax rate. Fact is the economy relies on the "have to have it now" society. 1997 is not only the last time I bought a new vehicle, but the only new vehicle I have ever purchased. Vehicles are the worst investment you will ever make in your lifetime. Why add to the bad investment of thousands of dollars lost, with interest, along with depreciation. Guns on the other hand, will not depreciate much, unless condition is altered. Personally, I would save until I could afford. Or, at least save half, then buy, if your looking at a $10,000 gun. If it is a $3000 gun your after, you will be amazed at how much you can save, and how quickly if you really focus on where your money is going every month. It really comes down to living within your means, so that you have cash to buy when you want to.

    I know it has been said that if you have money, you should borrow money. The problem is lately, that investing the money you have, and borrowing the money and paying interest thing, has not worked out to well.
     
  14. hoosier

    hoosier TS Member

    Joined:
    Jan 29, 1998
    Messages:
    1,257
    Might think about getting a second job, then save that money to buy your gun.
     
  15. Hammer1

    Hammer1 Active Member

    Joined:
    Sep 26, 2010
    Messages:
    1,601
    .

    The difference between paying 18% interest and earning 18% interest is 36% interest.

    .
     
  16. Perazzi_MX8

    Perazzi_MX8 Well-Known Member

    Joined:
    Sep 10, 2012
    Messages:
    1,825
    Location:
    Colorado
    I don't see the big deal in financing a Trap Gun. It's no different than anything else in life that we buy and pay off as we go. If a person buys a boat, ATV, Motorcycle or car we think nothing of it. Not to mention a student loan for an education or an airline ticket to visit a sick friend or family member. If it's easier for someone to pay it off over time then go for it. Most people pay for dinner out with plastic and in a few hours they are hungry again. It's a better investment than sitting in a bar or going to the Casino in my opinion.

    Duane
     
  17. darr

    darr Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,113
    Wow cut the guy some slack.He didn't ask for a life lesson he asked who would finance a gun.
    I would think a home equity loan would be one way to finance.Most of the higher end dealers offer financing.However if you finance through the dealer you are probably not going to get their best price.


    Darr
     
  18. skeet_man

    skeet_man Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    10,813
    Location:
    Rochester, NY
    "The difference between paying 18% interest and earning 18% interest is 36% interest."

    What can you invest in that will earn you 18% interest? My bank is currently paying .5% (one half of one percent) interest on a 10 year CD. If you let them hold on to $100k+ for 5 years, you get a whopping 1.095%

    And if you're going to finance a gun, you're not going to pay 18% interest on it unless you put it all on a credit card, or have spectacularly horrible credit.
     
  19. Hammer1

    Hammer1 Active Member

    Joined:
    Sep 26, 2010
    Messages:
    1,601
    .

    If someone is paying 18% interest...

    Then someone else is earning 18% interest.

    If you don't like 18%, insert your own number.

    Personally, I like 18%... except when I can get more.


    .
     
  20. MDMike

    MDMike Well-Known Member

    Joined:
    Nov 30, 2011
    Messages:
    1,238
    .5% interest and the cost of living is increasing 4-6% a year...... Great way to get ahead....
     
Thread Status:
Not open for further replies.
Search tags for this page
financing a shotgun
,

financing for gun purchases

,
financing for trap gun
,
financing trap gun
,
gun purchase financing
,

hal dupont finances

,
perazzi financing
,
perazzi shotgun financing