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Do you buy guns on credit?

Discussion in 'General Gun Discussions' started by Richard.Howe, Apr 8, 2005.


Do you buy guns on credit?

  1. No -- OK, maybe once -- but I never buy guns on credit.

    76 vote(s)
  2. Yes -- maybe once every two years -- for the right deal.

    28 vote(s)
  3. Yes -- as often as I pay with with cash -- but I keep the balance below 3% of my annual income.

    16 vote(s)
  4. Yes -- credit is my primary purchase method, and I always carry a nontrivial balance.

    19 vote(s)
  1. Richard.Howe

    Richard.Howe Well-Known Member

    I'm a huge anti-debt freak...I got no car payment, no credit card payments, no second mortgage, my primary mortgage is paid well below 80% in three years of ownership...you get the gist.

    I would rather not own something than have it and owe money on it.

    BUT...I have found a few guns I really want bad -- a RRA NM A2, a Cooper Montana Varminter in 6.5-284, and a 12 ga. Beretta Silver Pigeon III -- that I don't have the cash to buy. I thought about putting them on the card for about 30 seconds.

    I'm going to pass on them due to my own inclinations, but it got me thinking: How many of us put guns on plastic, and to what extent?

    *For clarification, layaway is not credit in my book.

    Have a great weekend,
    Last edited: Apr 8, 2005
  2. SteveS

    SteveS Well-Known Member

    I can accept some debt, such as for a home, car, or student loan. Otherwise, I have a CC because I don't like carrying around a lot of cash and I like to order things from a catalog and website and don't want to have to bother sending a chack or a MO. My wife and I tend to pay off the cards every month or so. I would get a gun on credit if it were an excellent deal and I could pay it off in a reasonable amount of time (1-2 months).
  3. fredcwdoc

    fredcwdoc Well-Known Member

    I have, I do, and I will again but I pay my card off every month. It's just faster and I only deal with a couple of sellers.
  4. kfranz

    kfranz Well-Known Member

    I always put them on plastic, but I don't carry a balance. I did carry a bit for a little while just prior to the 2000 election, when I found a couple of decent deals on things that could have been difficult to get had the election gone the other way. After things went for the better, gun control wise, I decided the debt wasn't worth it and got back to the way things ought to be.
  5. lee n. field

    lee n. field Well-Known Member

    No. I might do layaway someday, but haven't felt the need yet. I stash cash away towards what toys and accessories I want. It's about "that time" again. :)

    I did go into debt to a buddy of mine once on a "grab it right now" private sale deal.
    Last edited: Apr 8, 2005
  6. Drizzt

    Drizzt Well-Known Member

    A local store has a deal 2x a year, where you can buy guns and pay them off over 12 months, no interest. I usually take them up on it, so that I don't have any huge outlays of cash at once.
  7. pbhome71

    pbhome71 Well-Known Member

    I save up my money and I only buy when I have enough. This is a "hobby" category, its priority is lower than other expense.

    For me, it is not worth it to pay high interest for them.

  8. M2 Carbine

    M2 Carbine Well-Known Member

    No, I pay cash for everything, cars, guns, house, etc.

    I keep a credit card to buy guns and ammo on line but then it's paid off at once.

    I learned a long time ago that a working man can't afford to throw money down the toilet for credit charges.

    Now, no interest deals like Drizzt's I would consider the same as cash.
  9. dolanp

    dolanp Well-Known Member

    Only thing I use my credit cards for is the cash back and building a credit history.
  10. flyerI

    flyerI Member

    I use a CC, especially on line or catalog, but only when I can write a check when the bill comes. Paying interest for anything other than a home or a vehicle is nuts to me. I may have to add college to that list when my kid starts in 4 years. I will finance a rental prpoerty as long as the rent makes all principle, interest, tax, and insurance payments and leaves a little cash in my pocket.
  11. jefnvk

    jefnvk Well-Known Member

    Only every once in a while, and it is usually paid off that month.

    I got myself into some trouble (not much, but it did take me about three months to pay off) when I got my first card. Now, everything I can manage gets paid off with the Check card or cash.
  12. Old Fud

    Old Fud Well-Known Member

    Web-buys, yes, but face-to-face, NEVER!!!!

    I would not do that to my dealer.

    He's a good man, working on close margins.
    He pays something like 4% of the amount to the credit card company for the privilege of accepting your card (and the guarantee he will be paid.)
    On guns and bulk-purchase Ammo, that is a significant amount of money.
    If I insist on sticking a credit card into the deal, One of us is going to have to eat it.

    Seeing as CA has the 10-day waiting period anyway, I will pay him by check, he gets his money cleared before I come to pick up the piece, there are no added processing/insurance charges, and we're both happy.

    I once asked a bank person why they charged so much interest on credit cards. (at that time, as now, you could get bank loans for 6 or 7% per eyar while credit cards were charging 1.5% per month -- gulp)
    Her answer was "that rate is set by LAW, sir".
    Found out later that she was right. It is set by USERY LAWS -- it was the maximum they could charge before they committed the felony of loan-sharking.
    I've paid off my card monthly ever since that day.

  13. Hobie

    Hobie Well-Known Member

    I've only done so once. Honest. That was because the deal was too darn good to pass up. However, I now pay only cash (or use the card knowing it will be paid off in full). Actually, I use the card for most purchases now and pay off at the end of the month.
  14. secluded

    secluded Well-Known Member

    I have one specific credit card that I use for some of my gun/accessory purchases. I have a "deal" with myself that I will pay off what ever purchase I make, no matter big or small, before I will use the card again. Most of the time I can pay it off the same billing cycle but on occassion I've had to stretch it out for a few months. I never dip into the checking or saving account to buy stuff related to my hobby.
  15. Gunsnrovers

    Gunsnrovers Well-Known Member

    We use credit cards for all purchases, but we never purchase more then we can pay off at months end.

    The "points" from American Express purchases have in the past, and will in the future, give us free vacations. That's a good thing. :) I also like using plastic as it allows better visibility on what you're buying and spending money on. If the bills seem high, I can sit down with the wife, look at what's going on, and adjust accordingly.

    Our only dept is our house and we owe very little on it.
  16. Richard.Howe

    Richard.Howe Well-Known Member

    I notice you're from Los Angeles?!?!?! :eek:

    Congrats on being able to make that statement in one of the most expensive housing markets on planet Earth.

    My hat is off, sir!
  17. GILROY

    GILROY Well-Known Member

    Most that do are not going to confess. Best not to take debt on anything that does not appreciate in value. Yes I have charged a must have before (really a must want badly) , but know better now. Bought my last car (new ford expedition) cash. Felt good. With 2 girls headed to college, it won't be as easy next time.
  18. Jay Kominek

    Jay Kominek Well-Known Member

    If I'm buying from an establishment that takes visa, I give them visa. If not, I'm happy to write them a check or whatever else. The card then gets paid off in full at the end of every month. I've only been late maybe twice since I got my first credit card. Once they changed the due date on me and I hadn't read the bill carefully enough, and the other time I put a stamp on the envelope but forgot to mail it. Oops.
    So, yeah, four of five guns were bought on plastic. Fifth was from a private individual, so he got an envelope full of $50's. :)
  19. Gunsnrovers

    Gunsnrovers Well-Known Member

    Richard, we bought in 1997 when the market was highly depreciated. It's a small 1000 square foot house in West LA, but for our little family of 3 it works.

    There is no way we could ever afford to buy at the current prices. Our mortage is 1/2 of comparable rent. I really feel for recent college grads, etc trying to buy in. Starter homes in our area start at $500k. :(

    Teaching my wife to save has been the biggest challenge. :)
  20. Tinkerer

    Tinkerer Well-Known Member

    Absolutely! I'm an impulsive buyer; so much so that I have my credit card memorized so I can buy online. If I really, really want a new gun, and don't have the cash, I'll charge it. :D

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