Pay as you play music stores w/ payment plans (zZounds and American Musical Supply)

[northernguitar]

Love 0% financing. I just financed a Boss IR-200 from Long & McQuade. $100 down, and 12 payments of $45. I won’t even notice that. I was going to buy it anyway, but this deal pushed me over the edge.

 

[howardlo]

Sweetwater has a good payment plan when you get their card.

And their 0% interest deals have no one time fee or cost.

 

[Sgt Pepper]

He has his 50 year old Roger's drum set in cases stored. He now plays a mix of electric and kiddy drums at practice and the occasional live gig.

He doesn't play the Rogers drums at all?

 

[Matt Sarad]

He doesn't play the Rogers drums at all?

They take up too much space these days and too much time to set up. He also has 4 compressed vertebrae. We used them from '75 to 2015.

 

[dreamingtele]

Same. Honestly there were so many times I financed a guitar and sold it before the loan was up to move onto something else.

But no shade thrown to financing guitars in general. If it doesn’t hurt your bank account each month and food is on the table and bills are paid, it’s a cool way to get into some gear without plopping down a bunch of cash at once.

Buying at 0% is technically free money! However, I’d do that for more important purchases for “needs” rather than “wants”, like a laptop for education, or something like that. If a car comes with that for 5 years, id bite.

But for a 3000-5000 dollar guitar that might lock me up for the next 24-36 months? For “want” of it? No. Id rather save up for it and have the option to buy it in full, or go used for less money. I dont mind waiting. Growing up, I come from no money, and every penny I saved to buy what I like, I still remember saving up for a whole semester back in high school just to buy a freaking Nike basketball shoes. And that patience and lesson stuck with me which saw me through 4 years of saving and getting a brand spanking new ES-330.

 

[colchar]

Buying at 0% is technically free money! However, I’d do that for more important purchases for “needs” rather than “wants”, like a laptop for education, or something like that. If a car comes with that for 5 years, id bite.

But for a 3000-5000 dollar guitar that might lock me up for the next 24-36 months? For “want” of it? No. Id rather save up for it and have the option to buy it in full, or go used for less money. I dont mind waiting. Growing up, I come from no money, and every penny I saved to buy what I like, I still remember saving up for a whole semester back in high school just to buy a freaking Nike basketball shoes. And that patience and lesson stuck with me which saw me through 4 years of saving and getting a brand spanking new ES-330.

The retailer in Canada we're talking about also lets you finance used gear.

 

[dreamingtele]

The retailer in Canada we're talking about also lets you finance used gear.

If that still falls at 3000-5000 range of guitar, then still no

 

[studio]

No one has mentioned that the gear you are buying from these locations are on full MSRP. Manufacturers Suggested Retail Price.

If the item ever goes on discount it is still a good deal above whatever gross margin they could be selling it to their customer base. 20% gross margin would be a great deal. But that doesn't happen these days.

The positive take away in all this is that everyone walks away happy.
You get your gear, the manufacturer sell their product and the sales force makes out with a minimum 200% profit!

No wonder they ship it for free!

 

[northernguitar]

Buying at 0% is technically free money! However, I’d do that for more important purchases for “needs” rather than “wants”, like a laptop for education, or something like that. If a car comes with that for 5 years, id bite.

But for a 3000-5000 dollar guitar that might lock me up for the next 24-36 months? For “want” of it? No. Id rather save up for it and have the option to buy it in full, or go used for less money. I dont mind waiting. Growing up, I come from no money, and every penny I saved to buy what I like, I still remember saving up for a whole semester back in high school just to buy a freaking Nike basketball shoes. And that patience and lesson stuck with me which saw me through 4 years of saving and getting a brand spanking new ES-330.

I will 0% finance something that I am 100% sure I am going to buy. I have no problem using other people's money, but only if I'm not paying interest. I was already going to buy the Boss IR-200, but when I saw it for 0%, I went for the financing. I won't even notice the payments. My income is very steady, so no problem!

 

[dreamingtele]

I will 0% finance something that I am 100% sure I am going to buy. I have no problem using other people's money, but only if I'm not paying interest. I was already going to buy the Boss IR-200, but when I saw it for 0%, I went for the financing. I won't even notice the payments. My income is very steady, so no problem!

Yeah me too!

 

[Vibroluxer]

Financing isn't a bad word or another word for character weakness. It's just part of a deal that both sides agree to.

 

[BluesMann]

Buying at 0% is technically free money! However, I’d do that for more important purchases for “needs” rather than “wants”, like a laptop for education, or something like that. If a car comes with that for 5 years, id bite.

But for a 3000-5000 dollar guitar that might lock me up for the next 24-36 months? For “want” of it? No. Id rather save up for it and have the option to buy it in full, or go used for less money. I dont mind waiting. Growing up, I come from no money, and every penny I saved to buy what I like, I still remember saving up for a whole semester back in high school just to buy a freaking Nike basketball shoes. And that patience and lesson stuck with me which saw me through 4 years of saving and getting a brand spanking new ES-330.

I’ve yet to do any music gear purchase on extended credit. I also didn’t have the spare coin to go beyond my simple college rig of amp guitar fuzz wah and phase shifter(college was 72-77 with a year off in the middle). Was twenty five years past college before I could pull the trigger on my Tele. Even now when I charge a purchase, I do it for the air miles and pay it off when the bill comes. But I can recall years on years as cars were breaking down, we had two kids in day care, mortgage to pay, and ten years of student loans to pay being down to nearly our last dime paycheck to paycheck. As much as I had GAS, I just had to wait. I am blessed to be retired, playing music with likeminded friends and having fun.
But the pay as you play plan is a great way for folks to get started or step up to something else, if they don’t over extended. Can’t comment on AMS, but have good dealings with Zzzounds in the past.

 

[Bob M]

I have gotten credit card offers that can really help with purchases. If you spend a certain amount in 60-90 days they give you $200 back and 0% for up to 2 years. You have to pay attention to paying it back, but it is an effective way to get new gear.

 

[colchar]

No one has mentioned that the gear you are buying from these locations are on full MSRP. Manufacturers Suggested Retail Price.

Not at Canadian retailers who offer financing.

 

[northernguitar]

Not at Canadian retailers who offer financing.

Prices always seem to fall lower than actual MSRP. But yeah, anything at Long and McQuade or Cosmo are likely going to be similarly priced, barring a sale. Even then, most stores will price match. Some older ‘mom and pop’ shops might haggle a bit for cash.

 

[studio]

Not at Canadian retailers who offer financing.

Tell us about the financing.

Is the APR based on the dollar amount one spends?

 

[northernguitar]

Tell us about the financing.

Is the APR based on the dollar amount one spends?

I just entered two financing deals, one from Long and McQuade for a Boss IR-200, the other from Amazon for Shure SE535 in-ear monitors. In both cases, what I will pay is exactly what I would have paid on the spot.

 

[Dostradamas]

NGD inbound

I blame this thread

Thanks for the heads up

GRETSCH BABY YEAH!!!!

 

[colchar]

Prices always seem to fall lower than actual MSRP. But yeah, anything at Long and McQuade or Cosmo are likely going to be similarly priced, barring a sale. Even then, most stores will price match. Some older ‘mom and pop’ shops might haggle a bit for cash.

The Arts often offers gear at far below MSRP.

Two years ago in their Boxing Day sale they had Orange AD30s on sale for about $750 off. I had regretted getting rid of mine and had been on the hunt for a new one so I had L&M price match. The manager at L&M said he didn't know how they could possibly be selling them at that much of a discount. Had I wanted to, I could have financed that purchase (not news to you, to might be to others reading this thread).

This year in that same sale they had a particular model of Gibson ES-335 on sale for $750-$800 off. I had been eyeing one on the wall at my local L&M but just couldn't justify the price, no matter how great the guitar was. But when I saw that sale price at The Arts I had L&M price match. I planned to pay for that guitar outright, but wanted to wait until the end of January before doing so. They were offering 90 days interest free, so I financed it on that plan then paid it off in its entirety in early February.

So the claims being made about financed gear being full MSRP as simply not true.

 

[colchar]

Tell us about the financing.

Is the APR based on the dollar amount one spends?

No, the interest rate is set (lower than the rates you would get on your credit cards) and it doesn't matter whether you finance a $100 pedal or a $10,000 guitar.