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In debt because of rifle purchases?

Discussion in 'Rifle Country' started by Timradcliffe345, Oct 2, 2008.

?

Are you in debt due to your firearms hobby?

  1. No and I never will.

    229 vote(s)
    54.1%
  2. Sometimes I use the CC, but I pay it off right away.

    102 vote(s)
    24.1%
  3. I have CC debt.

    59 vote(s)
    13.9%
  4. I have some serious CC debt.

    16 vote(s)
    3.8%
  5. I am in deep $#!^.

    17 vote(s)
    4.0%
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  1. Timradcliffe345

    Timradcliffe345 member

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    God Bless America
    How many of you have debt because of a firearm purchase (rifle purchase since we are in the rifle forum area)?
     
  2. SGW42

    SGW42 Member

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    Houston!
    Never.

    Thanks Dave Ramsey.
     
  3. Wildfire

    Wildfire Member

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    No.

    Hey There;
    Absolutely not , and never was. Have over 40 firearms and never would even consider going in debt for an item like that.
     
  4. MinnMooney

    MinnMooney Member

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    My dad taught me - "If you couldn't afford to pay for it in cash, you just don't need it enough. Save for it and pay for it in cash or don't buy it."
     
  5. igpoobah

    igpoobah Member

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    Ignoring the mortgage, debt is not in my vocabulary.

    Thanks, Dad. I was listening.
     
  6. winchester243

    winchester243 Member

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    No, much easier to sneak new purchases into the safe when you don't leave a paper trail for the Mrs. to find.
     
  7. t george

    t george Member

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    i have bought one gun on credit but it was only cuz i didnt want to leave the store to get cash the cc company had a check in the mail for the amount as soon as the mail man got to my house the next day and all was good!
     
  8. rrflyer

    rrflyer Member

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    The last rifle and pistol I bought were purchased with either a cabelas or bass pro credit card.


    I signed up that day. Got 60 bucks off the pistol, 40 bucks off the rifle and cancelled the cards the next day when the check went in the mail.

    Some say it hurts your credit score to get and then cancel credit cards right away but I've got cash set aside for my next car whenever I need to buy it and dont plan on buying a house for a long long time. Everything else is paid on cash.

    I'm not against playing the game the CC companies are setting up....you just have to be extremely responsible if you wanna tango with those creeps.
     
  9. TAB

    TAB Member

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    I have bought most of my new guns that way, but not if I don't have the money in the bank to pay for it.
     
  10. longdayjake

    longdayjake Member

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    I figured that there was no better use for my student loans.
     
  11. jordan1948

    jordan1948 Member

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    No but I've borrowed money to help pay for one when I didn't have a steady job lol, got it paid off quick though.
     
  12. toivo

    toivo Member

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    I use the credit card for convenience, but always pay it off each month. Once in my life I got a little bit in the hole--between jobs, savings had run out, had three months to wait before my new job would begin. I got into them for about $2000, and when I saw how long that took to pay off and how much interest they ended up getting out of me, I vowed not to do it again. And this was for necessary living expenses, not another rifle: I couldn't justify that kind of purchase in those circumstances.
     
  13. onebigelf

    onebigelf Member

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    Guns are the one thing I don't borrow money for. My wife CAN shoot and does from time to time, but she's not a shooter. It's purely a me hobby and I don't run family debt for that. So I set aside a few bucks out of each paycheck, my per diem for travel at work, I save aluminum cans at the office, I drop my change in a jug... All of that is my gun/ammo money.

    John
     
  14. PTK

    PTK Member

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    Once, and ONLY once, when I saw a PS90 for $950, NIB. I didn't eat for a while. :)
     
  15. powermad

    powermad Member

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    Yep.. I put money in the safe each payday for ammo or whatever.
    Sometimes if life gets in the way it gets depleted. That's life.

    But then again I have 2 rigs that are paid for, 3 credit cards and only one gets used. That one gets used to pay off my monthly tool bills and gets paid off each paycheck.

    I like not owing anyone anything. The only reason I use the card is to build up my credit again.
    My ex crashed me hard.
    Although I kinda wish I had of maxed out every card on 7.62x51 ammo back in the day.
    Oh well. I still have plenty for myself.:D
     
  16. rob_s

    rob_s Member

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    I doubt you'll have many people answering this with anything other than "no".

    Do you really think someone is going to come on here and say "I took out a home equity loan to buy to registered M16s"?
     
  17. tinygnat219

    tinygnat219 Member

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    It depends. I have used it a couple of times for purchases of rifles that I absolutely had to have. It got paid off.

    I have an agreement with my wife where if it's something that's on my "list" of must acquires, like say a Rock-Ola M-1 Carbine, I can use the CC to grab it. Generally if it's under a grand, I can use the CC without too much spousal argument.
     
  18. Polish_Pounder

    Polish_Pounder Member

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    My policy is that if I can't buy it cash, I can't afford it.

    -Polish
     
  19. Timradcliffe345

    Timradcliffe345 member

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    I bet that with the impending democratic presidency quite a few of us are loading up on guns n ammo using CCs.

    If you choose to do so, acquire a 12 month 0% APR CC. DONT FORGET to pay the minimum balance each month and set a budget to pay it off before the 0% rate is gone.

    CCs can be a useful tool, however, in the wrong hands they can be a death traps.
     
  20. twofourthree73

    twofourthree73 Member

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    When the SHTF at TEOTWAWKI it won't matter if you have $10k in credit card debt, just as long as you have tangible resources like guns, ammo and food.

    That said, I would never run credit card or any other debt for a rifle.
     
  21. Smokey Joe

    Smokey Joe Member

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    Wise use of credit...

    A CC gives you flexibility, and you don't have to carry a wad of cash around, and is more easily acceptable most places than a check. That said, it must be paid off EVERY SINGLE MONTH--if so, it doesn't matter what interest rate the card company charges; you never pay it.

    But if the card cannot be paid off each and every month then it's not to use.

    Just as a side thought, and another way to handle money, I've seldom run into opposition at a gun show, when wishing to write a check. ('Course, I keep my checking account current, so my checks never bounce and leave a bad record!)

    As a rule of thumb, my guns' financing is arranged for before purchase, but not always with cash in hand. And once or twice, a gun has called my name from a gun show table, and I hadn't been planning such a purchase, but when a gun (or a dog, or a knife, or a boat) calls your name you don't ignore it.

    Mebbe have to eat a lot of noodles that month, but you don't ignore a calling of your name.
     
  22. gvnwst

    gvnwst Member

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    closest thing to my bieng in debt over a gun is ordering it before i had enough in the gun fund, but i had enough when it arrived.
     
  23. Dr. Tad Hussein Winslow

    Dr. Tad Hussein Winslow member

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    Never used commercial credit for a gun. I have done layaway on numerous occasions, but that's not credit use.

    I have done this a few times....at a gun show...no cash...see something I want...ask buddy to borrow a few hundred...pay him back the next day or on Friday. That's credit technically.
     
  24. NonConformist

    NonConformist member

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    Never, though I will occasionally order a 4 pay plan on SG for ammo via my CC, but its paid off quickley
     
  25. taliv

    taliv Moderator

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    actually, i almost did that, except instead of home equity, i was going to take out a loan from my 401k. turns out, they wouldn't let me. i'd have been a LOT better off
     
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