Guns On Credit?

[TripleDigitRide]

I understand, being a financial question, it may be too personal for many to answer and/or comment on, but because a friend of mine has gone nuts, I had to bring it up.

Do you buy guns on credit?

I've always lived a debt free lifestyle, so EVERYTHING I have is mine. I pay cash/debit for EVERYTHING. When I decide to purchase a home, this will have to change, of course, but until then, no one can take my personal possessions, because I missed a payment or two.

I love guns just as much as the next person. I wish I had half as many guns as many gun owners seem to have. There is always a gun I "just can't live without". On the other hand, I've able to control myself enough not to go into debt over my love for guns. My friend, not so much. Without going into great detail, he's in debt nearly 5K, over guns!?! This makes no sense to me, whatsoever. I can't justify going in debt $500-$600, let alone 5K.

I also know of another person who's guns are probably worth more than his home and vehicle. Ok, so his home is on wheels, but you get my point. I don't think he goes the "credit" route, but I know he often struggles paying his monthly bills, but he always has a new gun. Again, this makes no sense, whatsoever.

Anyway, I'm done ranting. Just had to get this off my chest.

[nightrunner]

now the only thing i have debt wise is my truck payment.

i couldnt imagine buying guns on credit. that is just as bad a someone who is really into "modern hot-rodding" and having 20-30k in credit card debt and its all tied up in a vehicle they will never get their money out of. most of the time you can get the majority of your money back out of guns(non-customs), but certaintly not with cars.

[Guest ui_cleirigh]

I have purchased three guns using the 'ol plastic. Mainly, I did it to get some decent points or rewards. The first time I decided to purchase a gun was when my apartment was broken into. I live near ETSU next to some unsavory individuals. My fiance is at home by herself a lot so I needed to purchase something reliable and quick. I paid it off shortly there after and took her out for dinner on the earnings!

That said, keep it under control and there shouldn't be anything a credit card couldn't cover . . . with some major bonuses.

[xd shooter]

I have done the credit thing (not on guns) but a few too many things. I do not use credit cards though I do have one. I'm in the process of paying off everything, but i am a pretty bad impulse buyer. Now if I don't have cash that means I can't afford it. I could not imagine having 5k in debt on guns...

[Guest kwikrnu]

I don't know why you would collect guns on credit. I think if you felt unsafe and wanted to protect yourself with one gun then I don't see the problem with buying one on credit.

[Guest strelcevina]

cool topic

first, good bless you to be successful and live debt free lifestyle

i'm blessed my self so

i never had any credit cards in my life

that being said.

i can understand, if life changes brings you to the point of nesesidy to use one.

and i CAN'T understand need of using one to buy luxury item , like guns

[Guest kwikrnu]

...i CAN'T understand need of using one to buy luxury item , like guns

A gun is not a luxury item. It is a tool of defense. Insurance against a bad situation. Protector of life.

[Guest strelcevina]

A gun is not a luxury item. It is a tool of defense. Insurance against a bad situation. Protector of life.

true

everybody needs one.

i meant luxury as

say, it is nesesidy to own a gun for HD or hunting, so why somebody needs 1000+$ 1911 or 1000+ shotgun

if you broke and need a gun, buy as cheap as possible, you know Hi-point:D

[Guest grimel]

I don't know why you would collect guns on credit. I think if you felt unsafe and wanted to protect yourself with one gun then I don't see the problem with buying one on credit.

Exactly, the only other reason would be finding a mint 1873 from 1873 for $1000 (or some such deal). Only use credit for emergencies (and pay it off yesterday quick) or on something that is making you money (and pay it off quickly).

I've done without a lot of toys for a long time. Now, I can buy most guns that interest me.

[Guest kwikrnu]

true

everybody needs one.

i meant luxury as

say, it is nesesidy to own a gun for HD or hunting, so why somebody needs 1000+$ 1911 or 1000+ shotgun

if you broke and need a gun, buy as cheap as possible, you know Hi-point:D

To me a cheap revolver is the best choice. The hammerless J frame 442 or 642 is right at around $400-$450 with taxes and background check. $40 a month for a year and it would be paid. If you want to resale later for something else they hold there value pretty good.

[strickj]

I have bought guns on credit.Theres a few reasons.For one I dont carry around several hundred dollars even when I go buy a new gun.Second both of my debit cards have limits of how much can be bought at one time.However my credit cards have no limits on any one purchase.

I keep all my cards in check and pay them off before they become a problem.

The best reason to buy a gun on a CC is your credit history/rating.The more,and longer your credit history is the easier it is to get loans,etc with low interest rates.My last CC gun purchase rose my credit rating close to 10 points,which in return will get me better rates on everything from my credit cards,to my next home loan,car loan,etc,and all I had to do was swipe a card.It did not cost me anything extra to use it then it would have if I paid cash,but it has paid me

[TGO David]

I bought one on a credit card once that offered travel miles. Back when I had to travel. It wasn't a bad idea at the time because I had surplus income and was able to pay it off almost immediately. But buying any sort of "impulse item" on credit is a slippery slope.

My rule of thumb always has been that if you don't have the cash to pay it off immediately, then don't buy it on credit.

Obviously this excludes buying a house or a car as most of us don't have $200,000 in savings just sitting around waiting for such a thing.

[Guest Hooker]

Anyone loan me some money for a few new guns?

I must mention i get paid weakly! Very Weakly.

[Guest nj.piney]

i have had credit cards since 1976, needed one to rent a car. credit cards are a form of cash to me. if i have the money in the bank i use the card. i have never paid any interest on a card since i settle up at the end of the month.

[Guest grimel]

To me a cheap revolver is the best choice. The hammerless J frame 442 or 642 is right at around $400-$450 with taxes and background check. $40 a month for a year and it would be paid. If you want to resale later for something else they hold there value pretty good.

Used are even cheaper.

[Guest Angel 24/7]

No credit, Pay cash. Save your money if you need protection & find something cheaper.

[Magiccarpetrides]

Use credit if its not impulse...the only time credit gets people in trouble is when they impulse buy. I absolutely do not condone the behavior but you can declare bankruptcy on credit cards and keep all the guns you purchased. And live Zombie free ;-D

[saintsfanbrian]

We put almost everything we purchase on a credit card. We then pay that credit card off at the end of the month. This allows us to save money for our kids college education through UPromise. No they don't hold on to it. Once you reach a certain dollar figure you transfer the money in to a 529 account that YOU have set up with YOUR bank. The money is yours.

I have bought a couple of guns on credit.

Living debt free is a good thing that I hope to be able to do soon. We had 2 kids really close together and there are a lot of things they need so we had to get in a little bit of debt.

Should be 100% debt free in about 1.5 years (except the house)

[Guest kwikrnu]

I'm pretty sure if you declare bankruptcy you have to declare all your assets.

[TripleDigitRide]

I'm pretty sure if you declare bankruptcy you have to declare all your assets.

I thought the same thing, but again, I could be wrong. I know the government has made it more difficult to file bankruptcy. I think these changes were made within the last year or so.

[Magiccarpetrides]

Yeah your right...so go ahead and dont take all your guns to your parents house first....lol...

EDIT: I deal with scumbags (not saying your one just for declaring BK) all the time as we do some buy here pay here at my lot that doesnt always work out too well. I have seen all kinds of things done to get around the negatives of a BK.

[Westwindmike]

Somebody good with Photoshop, could probably change this to any gun they wanted.

[Guest ui_cleirigh]

I thought the same thing, but again, I could be wrong. I know the government has made it more difficult to file bankruptcy. I think these changes were made within the last year or so.

I have a friend that is in the process of filing. There is a question in the packet that specifies any firearms or hunting equipment. He owed in the upwards of 50,000 before filing. I don't think they have taken the guns or have any intention of doing so. Seems like firearms is a little different then a laptop or a sweet food processor.

[Guest mikedwood]

Guns are pretty cheap it's the ammo that needs the financing.

[highshot]

ain't that the truth!