Financing Firearm Purchases

[walters900]

One thing I've noticed is that several forum members do not like using PayPal to complete transactions. It's understandable due to their 2he Amendment stance. So what if there was another way to finance a firearm purchase? What if you could get a 12-36 month loan, secured by the firearm itself, at a lower interest rate than with your credit card? Basically it would like getting a car loan, but for a gun instead of a car? Let me know if you would ever use such a service if were available and why or why not?

 

[FEENIX]

No, because 12-36 months is enough time to save, otherwise, I don't buy them.

 

[walters900]

No, because 12-36 months is enough time to save, otherwise, I don't buy them.

Ok, thanks for the feedback.

 

[nmbarta]

people will finance anything they can, I'm sure if this service was available, people would use it.
But to really make it work, you need to finance it for 20 years like a new boat.
Zero down and 100 bucks a month for the rest of your life and you can have a brand new 10,000.00 ELR rig.
Then you just target target 18-22 year olds that are too stupid to know what they're signing up for. Plus you can charge more for the gun to begin with, because the financing will sell it.
One problem...... if you have to repo it, you know he's got a gun!!!

 

[Alaska2006]

Kind of like boats and planes, if you cant afford to outright purchase you likely can't afford to run it.

 

[middleofnowhere]

I personally would not specifically finance a rifle purchase other than using a credit card.

 

[Coach W]

Midway needs a credit card like the big stores have. You know I'm going to purchase from their might as will get a cash back option.

 

[Snyper708]

What if you could get a 12-36 month loan, secured by the firearm itself

If people can't afford to pay cash for a firearm they shouldn't be buying it.

 

[Buckreed]

No. I would look at your value proposition and who it attracts then consider the amount of interest you will make at a interest rate less than a credit card in 12-36 mo. Then consider the risk of non payment and the cost of collections. If you are borrowing money to finance others guns your margin is nothing and I wouldn't risk my money on others like that.

 

[huntaxhunta]

What an interesting survey. You might on to something here, this will work on form 4 purchases.

 

[ShtrRdy]

Mile High Shooting Accessories offers financing.

 

[Gunpoor]

Some gunshops used to do lay-away plans on guns, but I don't know if they still do. Personally I don't see anything wrong with buying this way, although I have never done it.

 

[Telford29]

Debt is dumb,Cash is king...................as Dave says!

 

[Lefty7mmstw]

I never pay cash for anything... I just bought a g17 in January... I had some gift cards and ended up paying $150 for the pistol and 100 rounds of cheap ammo to plink with... Put it on the cc, then paid it along with my day to day purchases at the end of the month... I never carry or hold enough cash to buy much over a decent dinner; I put my money to work paying down debt...
I prolly wouldn't finance something like a new rifle for more than a few months if I did decide on financing. That's the principal reason my 7rum isn't wearing a new barrel; I don't need the barrel enough to justify the expense at present so I'll save the action for future use.