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A (high-interest) loan to buy gear, anyone done this?


Loobs

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I've heard of it coming out to something more like 3k rather than 2k. The interest is absolutely ridiculous and you can seriously hinder yourself from future gear purchases because you are stuck underneath on that you're still paying off.

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I've done the 6 months same as cash deal a few times....but I aways made sure to pay it off before the interest kicks in.

 

Every single time I've done it.....I have to scrape the money together at the last minute....in a panic. Which is even less fun because the honeymoon period has worn off long ago.

 

Needless to say, I do not do this anymore.

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You do this...and let us all know how it works out.
:thu:

 

lulz

 

A newspaper here in the US did a story on those loan places. They found that you get better interest rates by borrowing from the mob. :facepalm:

 

No offense....but anyone who doesn't have gear, doesn't belong in a band. It's harsh, but that's my mentality. I've been in too many bands with dudes who didn't have guitars/amps/whatever and it was a burden on the band. After awhile it becomes a real pain in the ass having to turn down gigs because someone can't find an amp to play through. Find a friend to loan an amp, or if you're playing shows with another band, ask to use their stuff at a gig.

 

:idea: Or...you can always get a POD and go direct :thu:

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lulz


A newspaper here in the US did a story on those loan places. They found that you get better interest rates by borrowing from the mob.
:facepalm:

No offense....but anyone who doesn't have gear, doesn't belong in a band. It's harsh, but that's my mentality. I've been in too many bands with dudes who didn't have guitars/amps/whatever and it was a burden on the band. After awhile it becomes a real pain in the ass having to turn down gigs because someone can't find an amp to play through. Find a friend to loan an amp, or if you're playing shows with another band, ask to use their stuff at a gig.


:idea:
Or...you can always get a POD and go direct
:thu:

 

I do have access to a amp(s) but I do want one of my own, I am greedy.

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Are you looking at getting stuff from a shop, or second hand?

If its from a shop theres a big push from a goverment to get people buying stuff, and I know of at least a few shops with a scheme doing interest free credit (well, the goverment cover the interest) up to about 2k.

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