Taking out a loan to buy a bass

Discussion in 'The BASS Place' started by Edsel Presley, Feb 8, 2017.

  1. Edsel Presley

    Edsel Presley Tele-Holic

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    So, Fodera is not teaming up with a credit company to finance customers to buy their basses. Well, I filled out the application. I figured why not? I'm not going to get approved anyway.
     
  2. erratick

    erratick Tele-Holic

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    I don't even know where to start.

    1) I'd never buy a musical instrument on credit unless it was 0 percent.
    2) anytime you spend that much money, unless you are a pro player and you will make the money back, you probably should have saved/invested.

    Although as a gag, filling out the application is hilarious. Especially since on the in-stock page they have two basses. Hope you want one of those. ;)
     
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  3. soulman969

    soulman969 Telefied Ad Free Member

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    So you filled out a credit app for a bass you don't really need and for which you don't anticipate even getting a loan? Interesting approach. :confused:

    Thanks for sharing. ;)
     
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  4. w3stie

    w3stie Poster Extraordinaire

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    This takes me back. I bought my first 'proper' bass on hire purchase from a music store. It was a yellow Fender Mustang bass. This was back when the Fender name brought a substantial premium in price. I thought I was in bass heaven at the age of 18. Fast forward 40 years or so and I can afford pretty much any bass I want. I wanted, and bought a '57 RI P bass. I think I'll keep that one for life. But recently I played a mate's pawn shop P bass knock-off - it was a Cort or something cheap - that he bought for $100. It sounded great, played well and did the job just as well as my Fender as far as I could tell.

    So spend or don't spend, it's your choice but a cheap guitar today can do pretty much everything you want it to do.
     
  5. Bortyeast

    Bortyeast Tele-Holic

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    If you can't afford a Fodera, why not go for an unaffordable Sadowsky as well? :)
     
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  6. songtalk

    songtalk Friend of Leo's

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    Everything Westie is saying is true and wise.

    Get something you can afford and gig the crap out of it and save the money for better stuff!
     
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  7. soulman969

    soulman969 Telefied Ad Free Member

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    Yeah, like a very good bass amp because without that a $100 bass and a $3000 bass won't sound all that much different. :D
     
  8. adjason

    adjason Friend of Leo's

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    that is a bad idea as has been said
     
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  9. Edsel Presley

    Edsel Presley Tele-Holic

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    Like I said though, I know I'm not getting approved.
     
  10. troy2003

    troy2003 Friend of Leo's

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    Be careful. What if you are approved? Would you buy it? I used to be extremely foolish with $$ and I paid for it,many times lost some nice things for pennies on the dollar. Now I try to get by with what I need
     
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  11. w3stie

    w3stie Poster Extraordinaire

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    Absolutely, bass amps in particular are *way* better than they were 40 years ago. If I was on a tight budget, I'd get the best amp I could afford e.g. a MarkBass or summint.
     
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  12. soulman969

    soulman969 Telefied Ad Free Member

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    Well except for a very venerable SVT but one thing is they sure are one hell of a lot lighter thanks to Class D amps and Neo speakers. :D
     
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  13. deytookerjaabs

    deytookerjaabs Friend of Leo's

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    This was the loan (loan paperwork also in the case pocket) payment schedule from the previous/original owner of the Les Paul I bought a few weeks back:

    [​IMG]


    My first two big guitar purchases were in the late 90's and early 00's, both were on layaway at a local vintage dealer who let me make monthly payments over a long period of time as a teenager. Those were the days! Of course, when I went to the university for music & started giving lessons there...like an addict half my lesson money was always going towards a guitar! My freshman year of school I was being encouraged to use a student loan to order a handmade archtop, but I said "no thanks."

    Point is, if you wanted a more serious instrument back in the day layaway & loans were often the only option even for full time touring musicians.
     
    Last edited: Feb 8, 2017
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  14. Obsessed

    Obsessed Telefied Ad Free Member

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    Actually, I say go for it in this case. People take out car loans and 30 year home mortgages that burn mega money to no end. A loan on a bass is peanuts in comparison and then you get what you want and start creating art. Good luck and have fun.
     
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  15. Denton

    Denton TDPRI Member Ad Free Member

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    Applying for credit hurts your credit, so I definitely wouldn't apply for something just on a whim.
     
  16. TigerG

    TigerG Tele-Afflicted

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    Once I was in Tucson for some gigs and of course spent a good few hours digging thru the piles at Chicago Music Store (don't ask me why it's called that when it's in Tucson). They had a nice Marshall 4x10 slant cab that was such a good deal I let them talk me into filling out a credit application since I didn't have the cash on me. I walked out of there with a fantastic speaker cabinet, and they must've never turned my app into their credit company cuz I never got a bill.
    I did call them after a few months to arrange to pay by some other means.
    Sidebar: a Marshall 4x10 is an awesome cabinet, fantastic sound and not nearly the weight of its more ubiquitous bigger bro
     
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  17. frankg11

    frankg11 Tele-Holic

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    Everyone remember the filling out a credit application is considered on your FICO score, (Credit Score). The more app's you fill out and get approved the lower your score. At some point you will start paying higher interest rates on cards, Cars, boats, home because you filled out credit applications but did not use the cards.

    Don't do it. Also pay cash for toys and save credit for a house.
     
  18. Jakedog

    Jakedog Doctor of Teleocity Ad Free Member

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    I buy instruments on credit all the time. I like nice stuff, I need nice stuff, and since my entire living is made playing the stuff, I don't generally have a lot of cash laying around. If I do manage to save anything, the wife tends to waste it on frivolous crap like groceries. ;-)

    Coming up with $1k-$3k for a piece of gear is just not generally going to happen for me. But, $50-$100 per month is usually a breeze.

    So I order from Sweetwater when they have one of their 24-36 mos no interest events, and pay it off on time. Every time.

    I know some people who would say, "why not just save the cash for 24-36 months?". It would never happen. When I have a bill, it gets paid. Without fail. And we find ways to budget for everything else we need. Nobody goes hungry, and nothing gets neglected. But if that money wasn't being used on gear, it would get used on something else. It wouldn't just sit someplace.

    Plus, when I need something for a job, I need it NOW. Not in 2-3 years. Or even 2-3 months. Today. It all pays for itself eventually.

    Doing the Sweetwater plans and AMS as well has never had any negative effect on my credit.

    I don't have any problem buying big ticket items like cars, and a house. And I'm a self employed musician. That's credit, baby.

    I don't know that I would spend what a Fodera costs. I had one once. As a work of art, it was beautiful. As a functional instrument, it wasn't any better than anything in $2k range. Which is waaaaaaay less than a Fodera. I actually think it was worth the money I spent on it, as art. I need instruments though, not art. And you can get as good an instrument for a lot less $$$. If it's art you want though, by all means, buy art.
     
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  19. Denton

    Denton TDPRI Member Ad Free Member

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    Yeah buying with an interest free option is completely different. I have a MF card that I've used the 12 mo no interest on. Same as cash in my opinion IF you pay it off before they nail you with the interest. I buy used/vintage now so my card sits with a zero balance.

    As most of us know, it's the interest on big purchases that kills you.
     
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  20. Nickfl

    Nickfl Tele-Afflicted

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    I bet you get approved. I don't expect a lot of people with good credit are filling out that app, thus they may not be as picky as you think they will be.
     
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