Members Thurston Posted June 19, 2012 Members Share Posted June 19, 2012 Sweetwater has some good options for making payments over time right now. There are a few manufacturers offering 18 month no interest. Sweetwater also offers 6 month no interest on anything bought with their card. But what is the deal with the monthly payment listed with near the cost of gear in the the Progear catalogue that just came out? For instance the 60s Classic Player Strat is $799.99 or $28/month. That comes out to around 28-29 payments? Link to comment Share on other sites More sharing options...
Members fretless Posted June 19, 2012 Members Share Posted June 19, 2012 if you don't pay though I hear they send Lewp to visit and perhaps stay for a few days . Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 Sweetwater has some good options for making payments over time right now. There are a few manufacturers offering 18 month no interest. Sweetwater also offers 6 month no interest on anything bought with their card. But what is the deal with the monthly payment listed with near the cost of gear in the the Progear catalogue that just came out? For instance the 60s Classic Player Strat is $799.99 or $28/month. That comes out to around 28-29 payments? We have 18 months interest free on TONS of stuff right now... that promo is manufacturer specific though. Default non-promo is 6 months same as cash, and revolving credit terms thereafter. Monthly payments in the catalog are calculated on a 36 month term, as is standard for most credit cards. BUT....YOU DO NOT NOT NOT want to do that. PAY WITHIN THE SAME AS CASH TERM!!!! Our card, like ANY tech card (Best Buy, GC, MF, etc) carries an interest rate around 30% outside the "same as cash" term. It's unavoidable, as lenders know the depreciation rate of technology. TL/DR version: Why didn't you just call me, Dave? :poke: Link to comment Share on other sites More sharing options...
Members Thurston Posted June 19, 2012 Author Members Share Posted June 19, 2012 Cool, that makes sense. Got my eyes on a few things and trying to convince myself not to buy them. Payments makes it so hard! Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 Cool, that makes sense.Got my eyes on a few things and trying to convince myself not to buy them. Payments makes it so hard! GIVE IN. BUY NOW. Link to comment Share on other sites More sharing options...
Members KCTigerChief Posted June 19, 2012 Members Share Posted June 19, 2012 GIVE IN. BUY NOW. PAY LATER Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 PAY LATER OR BE BEATEN MERCILESSLY Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 PAY LATER OR BE BEATEN MERCILESSLY Link to comment Share on other sites More sharing options...
Members Sex Panther Posted June 19, 2012 Members Share Posted June 19, 2012 GIVE IN. BUY NOW. I can't wait till I graduate. I'm gonna bug the hell outta you. Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 I can't wait till I graduate. I'm gonna bug the hell outta you. Link to comment Share on other sites More sharing options...
Members Elemenope Posted June 19, 2012 Members Share Posted June 19, 2012 What's the deal with payment plans like if you buy something for $599 and it says 3 easy payment? How does that work? Do you need to get the credit card for that? Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 What's the deal with payment plans like if you buy something for $599 and it says 3 easy payment? How does that work? Do you need to get the credit card for that? 3EP Works like this: Upon credit approval, we: Ship you the item, and charge you for 1/3 of the total + $10 onetime charge to your credit or debit card.30 days later, charge another 1/3.30 days later, charge final 1/3. 3Ep has a $2k limit. Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted June 19, 2012 Members Share Posted June 19, 2012 3EP Works like this:Upon credit approval, we:Ship you the item, and charge you for 1/3 of the total + $10 onetime charge to your credit or debit card.30 days later, charge another 1/3.30 days later, charge final 1/3. 3Ep has a $2k limit. Why do you guys run credit for 3EP? It's no big deal, but AMS doesn't. (Their limit is 1k though) Link to comment Share on other sites More sharing options...
Members KCTigerChief Posted June 19, 2012 Members Share Posted June 19, 2012 Why do you guys run credit for 3EP? It's no big deal, but AMS doesn't. (Their limit is 1k though) Doesn't that count as a hard inquiry on your credit? Not worth it Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted June 19, 2012 Members Share Posted June 19, 2012 Doesn't that count as a hard inquiry on your credit? Not worth it That's what I am thinking too. Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 That's what I am thinking too. That's correct. Reason? Quite simply, it's an extension of credit. Product goes out before full payment is procured. I'm aware that others do not do credit checks, and that's their risk/prerogative. Wanna know how Guitar Center acquired MF? MF ran an "EZ Payment" scenario like this years ago. Enough people bought things, then cancelled their cards before the remaining payments could be withdrawn, that MF lost MILLIONS. I understand that there are other payment plans out there from other vendors that may or may not be more attractive for different reasons, but we are a company that attributes our success to customer service, more than SUNDAYSUNDAYSUNDAYSPECTACULAR sales-y stuff. Everyone does it different. Link to comment Share on other sites More sharing options...
Members KCTigerChief Posted June 19, 2012 Members Share Posted June 19, 2012 That's correct. Reason? Quite simply, it's an extension of credit. Product goes out before full payment is procured. I'm aware that others do not do credit checks, and that's their risk/prerogative. Wanna know how Guitar Center acquired MF? MF ran an "EZ Payment" scenario like this years ago. Enough people bought things, then cancelled their cards before the remaining payments could be withdrawn, that MF lost MILLIONS. I understand that there are other payment plans out there from other vendors that may or may not be more attractive for different reasons, but we are a company that attributes our success to customer service, more than SUNDAYSUNDAYSUNDAYSPECTACULAR sales-y stuff. Everyone does it different. My only thing is, with a hard inquiry, I'd want there to be a line of credit available. Not a one time purchase, know what I mean? Because then, if you do the 3EP plan again, that's another hard inquiry. I doubt many people think about this though, and that really does affect your credit scores... Link to comment Share on other sites More sharing options...
Members Phrophus Posted June 19, 2012 Members Share Posted June 19, 2012 OR BE BEATEN MERCILESSLY Just so everyone is clear, this was not an HCAF double post. This was Loop stressing that if you don't pay up, he's gonna be breaking some legs to use as stilts. Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 My only thing is, with a hard inquiry, I'd want there to be a line of credit available. Not a one time purchase, know what I mean? Because then, if you do the 3EP plan again, that's another hard inquiry. I doubt many people think about this though, and that really does affect your credit scores... Wrong. Once we have 3EP approval, that 2K credit line for multiple 3EP purchases is valid for 6 months. Regardless, the Sweetwater card is a better option, as there is no fee, the Same as cash term is 3x longer than 3EP (6mos at minimum vs 60 days for 3ep), and the credit line is usually higher. My 2 cents. Link to comment Share on other sites More sharing options...
Members KCTigerChief Posted June 19, 2012 Members Share Posted June 19, 2012 Wrong. Once we have 3EP approval, that 2K credit line for multiple 3EP purchases is valid for 6 months. Regardless, the Sweetwater card is a better option, as there is no fee, the Same as cash term is 3x longer than 3EP (6mos at minimum vs 60 days for 3ep), and the credit line is usually higher. My 2 cents. I gotcha, that first part was left out of the original post The card is definitely a better option. Now...should I buy the buckethead sig Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted June 19, 2012 Members Share Posted June 19, 2012 My only thing is, with a hard inquiry, I'd want there to be a line of credit available. Not a one time purchase, know what I mean? Because then, if you do the 3EP plan again, that's another hard inquiry. I doubt many people think about this though, and that really does affect your credit scores... That's my concern as well. If I am going to have an inquiry on my credit report, it should be like a credit card where I get the inquiry ONCE and then I can keep making purchases as long as I keep the payments current. But having an inquiry for ONE purchase, or every time I make a new purchase? Well that's better be for something like a car or a mortgage or it's just bad credit management. It's not worth it. Link to comment Share on other sites More sharing options...
Members Orbis_Mortis Posted June 19, 2012 Members Share Posted June 19, 2012 I can't wait till I graduate. I'm gonna bug the hell outta you. I can't wait until I graduate so I can bug the hell outta him too. Oh wait, I've already been bugging the hell outta him:lol: Loop, I noticed you guys have EVH D-Tunas now. Damn, I need to graduate. I need a {censored}ing PRS:evil: Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted June 19, 2012 Members Share Posted June 19, 2012 Wrong. Once we have 3EP approval, that 2K credit line for multiple 3EP purchases is valid for 6 months. Regardless, the Sweetwater card is a better option, as there is no fee, the Same as cash term is 3x longer than 3EP (6mos at minimum vs 60 days for 3ep), and the credit line is usually higher. My 2 cents. oh ok, that makes sense. Link to comment Share on other sites More sharing options...
Members LoopQuantum Posted June 19, 2012 Members Share Posted June 19, 2012 That's my concern as well. If I am going to have an inquiry on my credit report, it should be like a credit card where I get the inquiry ONCE and then I can keep making purchases as long as I keep the payments current. But having an inquiry for ONE purchase, or every time I make a new purchase? Well that's better be for something like a car or a mortgage or it's just bad credit management. It's not worth it. See post 19. EDIT... you saw it. Link to comment Share on other sites More sharing options...
Members guitarbilly74 Posted June 19, 2012 Members Share Posted June 19, 2012 See post 19. Already saw it and replied to it. Link to comment Share on other sites More sharing options...
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