Gun Financing.com!

[zoglog]

I do not know how I feel about this.

It was one of the advertisements on Facebook. They don't have too many to firearms choose from. But it says they can find one. I wonder what the prices are like?

It is an interesting idea though.

>>>Gun Financing<<<

 

[Mr Evilwrench]

Sounds like they're just trying to skim some cash off a transaction from the people who are already least able to afford it. It is expensive to be po. Not sure I'd want to try to repossess an AR, though, probably be a little dicey.

 

[Que]

I'm not sure why anyone would finance a purchase when they can do layaway and save some money.

 

[LawDog76]

Not to sure they can legally finance handguns here in Indiana. From what little info on how it works it basically sound like a loan and not a lay-a-way program. IC prohibits handguns being used a collateral to secure a loan.

 

[jve153]

Interesting. So all the pawn shops bought them instead of loaned on them.

 

[HDSilvrStreak]

It's just bad financially to finance something that is not a necessity or a hobby. Really bad financial planning.

 

[LawDog76]

Interesting. So all the pawn shops bought them instead of loaned on them.

Handguns, yes, or well they should of if they're operating legally. Loans against a rifle is fine.

A pawn shop is the last place I'd take a gun to sell unless I needed the money really bad that day. I asked the one on 10th St what they'd give for a Sig 220 with night sights, 3 mag, w/the black box and holster. The guy working said $150 - 175, $200 if it could pass as new in the box. I understand they have to make money on it but an offer like that is truly a kick in the crotch. I know they would of put a $700 price tag on it.

 

[OneBadV8]

I could maybe see this if it were Title II firearms. But that'd be a little tricky in itself with stamps and transfers

 

[Sgt7330]

No thanks. I mortgage my house, not my guns.

 

[Scutter01]

I'm not sure why anyone would finance a purchase when they can do layaway and save some money.

I'm not sure why someone would do a layaway when they can just save the money until they can afford to buy it.

 

[Colt556]

Sounds like a way to get yerself in trouble to me. I don't even use lay away. If I can't pay cash or trade for it I wait until I can.

 

[Dirtebiker]

I'm not sure why someone would do a layaway when they can just save the money until they can afford to buy it.

If the store only has one or two (especially in the case of a used gun) and a good price, it's a good way to assure that you get THAT gun at THAT price!
The shop that I part time at, we have a 60 day layaway, prices and inventory can change a lot in two months!

 

[Scutter01]

I don't like layaway. You're just saying "Here, hold all my money for me, interest free, until I can save enough to buy this." Good deals come around all the time. There will be another.

 

[drillsgt]

If the store only has one or two (especially in the case of a used gun) and a good price, it's a good way to assure that you get THAT gun at THAT price!
The shop that I part time at, we have a 60 day layaway, prices and inventory can change a lot in two months!

What Dirtebiker said, used guns or higher end guns are the best for layaway. If you have something in layaway it's much easier for many to go and pay on it like a bill then to set money aside, and still better than charging it. I think a 60 day layaway is essentially useless but for a cheaper ($300-500) gun it may do. The shop I worked at in MI had up to a year layaway, we had one room dedicated to the layaways and a lot of those were used guns and higher end rifles and shotguns (most though did not wait the year as they got anxious to get their gun). With that amount of time people could put away the more expensive guns and we always had a steady income stream coming in. I don't think that would work around here though as I have not seen a store yet that deals in the sheer volume that we did. As others have said, yes you can just save up for it but knowing it's there and paying on it provides a certain incentive and anticipation.

 

[686 Shooter]

Just another way for those with money to make more money off those without. Just a new angle on something that has been going on for years, sort of like the "Buy here, die here" car lots. In bad economic times, three things will always sell, alcohol, tobacco, and firearms.

 

[leftsock]

Pass. Will just save up and purchase.

 

[Rollerman]

Lay away's don't bother me.
I've picked up more than a few of mine that way & it didn't cost me anymore.
Some shops will charge an additional fee, most will charge a restocking fee if you don't pay off what you have on lay away.

Makes more sense to me than putting one on a charge card then paying it off with interest.
Always easy to buy with a CC, tuff to pay off.
Atleast with a lay away the gun is yours when you take it home.

I'm not saying I'm poor, but walking into a gun store & buying a $1000 firearm is just not going to happen....
Hell even if I had it I doub't I could do it...somehow breaking it down into payments eases my guilt for spending that amount or just makes it easier period.

My thoughts.

 

[mizzi]

Not for me. I'll just put it in a piggy bank til there's enough.

 

[JoshuaW]

I'm not sure why anyone would finance a purchase when they can do layaway and save some money.

Well when you need that new Glock for the armed robbery you have scheduled two days from now, but you dont have a new Glock to procure the funds...

I bet the interest rate on these are INSANE! Like loan shark insane.

 

[Hillbillyblood]

I have not done the layaway program, however the money in your savings in not creating enough interest to make a big difference. It's at 0.05%