Finance and buying a guitar

[guitarp77]

If you can pay for it, buy it.

I have 3 MM now, but I saved for each one of them...few things beat the feeling of working hard and give yourself a stringed award for your effort...

So, cash is king.
Debt is evil.

That's the basic equation...

 

[ScoobySteve]

Credit is always about thinking ahead and bring EARLY. if you're responsible with your finances, have steady work and enough money saved for emergencies I would encourage it if it's a guitar deal that you must get now. (i.e. special discount, have no guitar, impirtant gig coming up etc.). If GC gives you 12 mOnths at 0% I'd always make sure I can pay it in full by 4-6 months. No more than half of the allotted time period.

PayIng off a guitar in 12 months and saving up for one for 12 months is the same. Except when you get the guitar and how much financial risk you put on yourself. Money is big, play it safe!

 

[budalash]

Some very responsible and mature people on this forum! Gentlemen, I envy you...

 

[spkirby]

"You can have it all if you like, and you can pay for it the rest of your life...." (Kelly Jones)

The sensibilities behind that lyric prevented me getting a new car a few months back... I hate debt, the mortgage is unfortunately unavoidable though and that millstone grinds me down if I think about it too much!

It's better to play something you own than to play something a finance company owns...

 

[Malmucci]

I think I agree with you all, after reading all the answers. I still have some guitars left that I'm going to sell, so hopefully I can get a hold on either the Steve Morse Y2D or the Luke III. I'm still dreaming about a Albert Lee HH too, but where am I gonna get all that money? hehe

 

[straycat113]

Well I tip my hat to you for owning your own house at 26 which you did not pull off by being foolish with your finances. It seems like you have your act together but I can see the GAS tempatation setting in. You have a lot of years ahead of you to acquire a lot of nice guitars and don't go by what you see others have. I am certain most of the guys whose gear you are looking at have 10 years or better on you. I never buy on credit and and only use a credit card when absolutely necessary for anything. Figure out your monthly expenses and then put whatever extra scratch you can afford on the side every month towards a guitar. Believe me the months fly buy and you will be able to add an ax or two a year.If you are that disciplined and figured out you could pay one off in 5 or 6 months I do not see the harm in giving it a go. Just remember life throws a lot of unexpected curveballs our way and I would only advise it if you have some liqued assets in case of an emergency to fall back on.

Ben Peterson gave you some wise and sharp advise that I agree with, also anyone who owns over 20 guitars and up and says they play them all is full of it.I have been there and you basically stick with the 3 or 4 you always play. Sure the others may come out once or twice a year but unless you are Keith Richards or Joe Perry who change guitars practically every song it aint happening. Not that it aint cool to own a nice herd of axes but like Ben stated if you buy quality you don't have to worry about taking a beating when you look to move something. The last 5 guitars I moved two years ago due to whatever circumstances I did not take a loss on one and if the best you do is break even you are doing just fine!

 

[Warg Master]

I have done some dumb things with credit cards in my younger days. Now if I want something i don't buy it unless I can afford to pay cash for it.

This.

 

[djlynch]

Credit isn't always a bad thing. You just need to make sure you are responsible with your finances. If you have kids that need things owning a spendy geetar shouldn't be a priority. Lots of good guitars out there for less than 500.

 

[billpepper82]

sell plasma

Please don't