Be disciplined, save your money and pay cash. Borrowing money is how we got where we are today. I am sure your intentions are good but in a volatile market like this anything can happen. Better to be safe than sorry these days.
I understand where you are coming from bird buster. It is just that i am in college and would really like ot be getting into the game more seriously, but dont have the money just yet. I would love to pay cash, i know that the housing market is where it is today because of the financing and mortgages, but i was just wondering, since i WILL pay this gun off. I was just wondering who had financing. I might be in the market for a new or sued browning xt unsingle combo, i might need financing. Thats all. Thanks guys for the input.
If you look at financing,,,,look for the lowest interest,,,0%,,,,have enough in savings if your job goes bad,,,,you can pay it off and not hurt your credit,,,here's the kicker,,,,make sure the price financed is the same or _real_ close to the cash price....Best of luck to you
tuscarora 99 - I strongly support you, or anyone else, getting into ATA shooting more seriously. But, your education must be your first priority. Going into debt should be low on your priority. Getting a new gun is not the same thing as getting into shooting more seriously. Shooting more targets and working with your present gun is the path to becoming a serious ATA shooter. You will learn soon enough that a new gun probably will not increase your scores just as getting a new computer will not improve the papers you write for classes.
I apologize for talking to you like your Father and advising you on matters that are none of my business. But, I continue.
If you want to become financially independent, do not pay interest on a loan unless absolutely necessary or it is profitable. My last debt was a bank loan for $400,000 at 6.25% for 10 years. I bought property with this money that gave me a 9% return. Paid the loan off in 7 years and made a small profit each year and now I have a group of five town homes, debt free that cost me nothing. It is OK to make a profit from someone else's money. If you ever have a credit card balance that is not paid in full at the beginning of each month, you have a debt to income problem that must be solved. If you ever get into debt, have a clear plan that will make you debt free and stick to that plan.
You'r not alone going to school, tuition,books lab fees even parking is expensive. Dont some of the schools have shooting teams? I remember being at Downers Grove years ago and U/I, IU, Purdue,SIU etc were there shooting and I remember seeing at least one gun that said "property of the University of Illinois" on it. Maybe your school has a team and you don't even know it. That wouldnt surprise me, with todays attitude towards guns especially on Campus they might be quiet about it.
To all, Shotgun Specialties offers ZERO% interest on 90 day, 6 mos and 12 mos programs, 11.9% on 24 and 36 month programs. This is good on any products we have in stock or orders, Kolar, Ljutic, Perazzi, Krieghoff and Silver Seitz ect., new or used. Over 20% of our customers in '08 took advantage of our services. Something to think about, Doug @ SGS
The only things you should finance are the things you truly need. Financing a home to live in makes sense and can be a good investment. Financing a car so you can get to work in makes sense, financing an education so you can get a good job makes sense. Financing a gun or anything for entertainment is the opposite of these kinds of investments, don't do it. Save your bucks until you can own your toys free and clear. Debt is your enemy.
I'm on Pat's side too. Think, guys, a credit card gives you one free month. From then on it's what you owe for this month PLUS what you didn't pay last month. And that goes on forever. You can't possibly think the credit card folks have them for your convenience, eh? They're making a fortune off your use without paying the balance in full.....breakemall....Bob Dodd
Thanks for all the responses guys. I think im gonna work till i have the money. Luckily i dont have t pay for my college my parents are kind enough to help me along the way, but i have to keep up my end of the deal with grades. I have about a thousand dollars right now saved up towards the gun. I plan on putting away 1/2 of my paycheck every month towards the gun. Hopefully i can buy it and learn to shoot it well before the next shooting season.
Credit is not necessarily an enemy and I finance a lot, but I try to use someone else's, money (0%-5% APR) anytime I can. Paying installments can make a lot of sense to take advantage of business situations, personal satisfaction and/or development, when the item purchased has a predictable, useful life such as home, car, durable personal property such as but not limited to appliances, durable toys, carpeting etc...)
Credit should never extend beyond the useful life of the asset purchased, but paying as you go on a favorable basis for immediate use of an asset can actually allow one to exact value/get your money out of said asset, while you're paying it off.
Its never black and white, examine the gray and try to make the best financial decision you can...
tuscarora 99- You are a student. You have saved $1,000. You plan to add 1/2 of your pay check to your savings toward the gun.
This indicates to me that you are well on your way to becoming financially successful. Keep thinking the way you now think and when you retire, you will not be able to spend all of your money before you die.