Gun financing

Re: Gun financing

Cant answer your original question, however I *can* say that no one should finance a gun.

Go read some Dave Ramsey books and never finance anything ever again.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: AR DeBoer</div><div class="ubbcode-body">I have been a collector of rifles for years, however I dont have the capital for a couple I want. MP44 MG34, MG42. </div></div>

You're looking at a mortgage level sum of money when it comes to those three weapons.

If I see something I want for a great price I'll throw it on the credit card and pay it off by the end of the month. What you're looking to do is sink yourself into $100,000 worth of unsecured debt.

There is absolutely no legitimate reason in the world to want to do that other than "Well I want it." Machine guns are already regulated by the NFA so considering these a "panic buy" or "investment for the ban" is out the window.

Unless you're opening a movie prop type of business you aren't going to find anyone out there that will finance these weapons.
 
Re: Gun financing

While i agree about financing guns, you didnt ask if it were a good idea or not, you asked how it could be done.

Here would be my suggestion.

1. Home equity line of credit. They usually have very good rates and flexible terms

2. Borrow from your 401 plan if your plan allows it. This way you are getting a personal loan from yourself. You pay back interest to yourself. These typically have a shorter term limit.

Those are about the only thing i can think of as good financing options if you dont have a rich uncle or sugar momma (the latter of which i highly suggest)
 
Re: Gun financing

My local credit union is more than willing to give me a note for all three and possibly I ultimately would be able to cut a check for the three guns however I thought if I could get cheap financing for the guns why not go for it I have more than enough collateral for the purchase however my credit union wants 5% for a 10 year personal note. I shall possibly give up on all three and just go with a capital cash purchase of two of them and see what the economy brings after this term. Thanks for your thoughts NB It's along the lines of what my advisor stated.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: AR DeBoer</div><div class="ubbcode-body">Correct me if im wrong. You are in the army and you are trying to talk down to someone and trying to give financial information based upon your minute income and financial status? Is that correct?!?!
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</div></div>

Just got that gem of a PM from this guy.

You're a real class act there AR DeBoer. If you plan on sticking around this site you might want to drop that elitist, holier than thou attitude considering how many of us are military, law enforcement or work some other unworthy, low pay job.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NorthernBorn</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: AR DeBoer</div><div class="ubbcode-body">Correct me if im wrong. You are in the army and you are trying to talk down to someone and trying to give financial information based upon your minute income and financial status? Is that correct?!?!
laugh.gif
</div></div>

Just got that gem of a PM from this guy.

You're a real class act there AR DeBoer. If you plan on sticking around this site you might want to drop that elitist, holier than thou attitude considering how many of us are military, law enforcement or work some other unworthy, low pay job.

</div></div>

What a jackass. I'm going to hold my tongue on that one though.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: slowyellow</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NorthernBorn</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: AR DeBoer</div><div class="ubbcode-body">Correct me if im wrong. You are in the army and you are trying to talk down to someone and trying to give financial information based upon your minute income and financial status? Is that correct?!?!
laugh.gif
</div></div>

Just got that gem of a PM from this guy.

You're a real class act there AR DeBoer. If you plan on sticking around this site you might want to drop that elitist, holier than thou attitude considering how many of us are military, law enforcement or work some other unworthy, low pay job.

</div></div>

What a jackass. I'm going to hold my tongue on that one though. </div></div>

I won't... Lol. So... When does someone being in the military prevent them from giving sound financial advice? Even better DeBoer if you're such a financial genius yourself then why would you need to go to an online forum to ask a question regarding financing avenues? I highly doubt you have the capital or the means, because if you did you wouldn't need to ask...
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SniperCJ</div><div class="ubbcode-body">Cant answer your original question, however I *can* say that no one should finance a gun.

Go read some Dave Ramsey books and never finance anything ever again. </div></div>
Agree with John 100%!

Furthermore, if you don't have the money, don't buy it. Some of my guns came from people that had your kind of sense and got in a bind. On second thought, forget this advice. Contact me when you need a quick sale.

Kevin
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SniperCJ</div><div class="ubbcode-body">Cant answer your original question, however I *can* say that no one should finance a gun.

Go read some Dave Ramsey books and never finance anything ever again. </div></div>

While I do share a similar view on no financing (I wouldn't even finance a home), typical americans put a lot worse items on credit. At least guns keep much of their value and can be as much of an asset as a vehicle.

If this person is putting something together to protect his family and/or putting some meat on the table.. I encourage it.

Ramsey has some interesting points, but its just one thought. Other advisers would have people putting much rental property on credit as an investment. Further, most people don't need to allot their cash in envelopes to resist urges to overspend..

Just my 2 cents.
 
Re: Gun financing

DON'T do it! I made a promise to myself many, many years ago when i started having rifles built, it's not going on plastic. If i don't have it at home or in the bank, nothing gun related is going to get bought or built.
 
Re: Gun financing

How much are you currently looking at purchasing?

Realistically, not 100% of everything you've ever wanted; I want a MG42 too but I don't count that into any equation when figuring out anything budgetary.

If it's a rifle or a scope or whatever and its within reach, yet you have to come up with a bit extra cash, just save for it. This pays off not only in saving money on stupid shit like interest, but you also value the item more at the end as well as give yourself time to think about it - do you really want/need this.

I don't know how many times I've held off on something and then realized I either didn't want/need it, or I researched it more and found out something else fit my needs better.

2 basic rules:

- Don't buy a gun you don't have the cash for

- Don't ever sell a firearm unless the proceeds will 100% go towards the purchase of another one

 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chiller</div><div class="ubbcode-body">I was off duty.....Who was watching the front door? </div></div>

If I could cut and paste all the BS this guy vomited in the Shout Box here... lol...
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chiller</div><div class="ubbcode-body">I was off duty.....Who was watching the front door? </div></div>

If I could cut and paste all the BS this guy vomited in the Shout Box here... lol... </div></div>

Didn't know this got good, thought this was just a bit of an off the wall question.

The hell happened?
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: TheGerman</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chiller</div><div class="ubbcode-body">I was off duty.....Who was watching the front door? </div></div>

If I could cut and paste all the BS this guy vomited in the Shout Box here... lol... </div></div>

Didn't know this got good, thought this was just a bit of an off the wall question.

The hell happened? </div></div>

He came into the shout box bull dogging like he was some rich bad ass... then when he started to get his ass handed to him by everyone he tried saying that he has multiple family members in the armed forces as an excuse to belittle our paychecks... then he said his collateral would be "acreage"... then he came up with a story about how his dying uncle (pancreatic cancer) has a MG34, MG42 and MP44 but is making him pay $50,000 or so for them and that his aunt is 20 years younger than his uncle and is obviously hungry for money... that is all in contradiction to his post in Semi-Autos asking where to FIND a MG34 or MG42...

then...

When both he and his retarded story were ripped to shreds he started changing his screen name to try and please everybody (Changed it to HoneyBucket) and ended the night with a Shout Box Scream of "WHY CAN'T WE ALL JUST GET ALONG?!"


Did I miss anything?
 
Re: Gun financing

Where to start...

First he alluded that NorthernBorn shouldn't give financial advice based upon his "minute" pay since he's in the service. Next he tried to use his families military status as an excuse for his comment. Then he proceeded to tell everyone how he has the money but he wants to finance a deal for guns that would normally be $100K but he can get them all for $60K from an Uncle dying of pancreatic cancer who wants to give them to him but not for free provided his "greedy b***** aunt" doesn't get them first. He's also hoping that these mortgage priced guns are "stored in a dry spot". Supposedly a bank has approved him for a personal unsecured loan up to the amount but he just wants to weigh his options in an online forum even though he supposedly has an "Adviser" managing his finances...

If I missed something else I'm sure any one of the numerous others in the shout box who witnessed this retardation at it's best can chime in. Shortly put... The guy is full of shit.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body">Where to start...

First he alluded that NorthernBorn shouldn't give financial advice based upon his "minute" pay since he's in the service. </div></div>

Don't forget the part where he said "That's right in line with what my adviser told me" in reference to my comment but he PMed me what's quoted above in this thread a couple minutes after.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NorthernBorn</div><div class="ubbcode-body">then he came up with a story about how his dying uncle (pancreatic cancer) has a MG34, MG42 and MP44 but is making him pay $<span style="text-decoration: line-through">5</span><span style="color: #FF0000">6</span>0,000 or so for them and that his aunt is 20 years younger(<span style="color: #FF0000">I totally forgot that part, lol</span>) than his uncle and is obviously hungry for money...
</div></div>

Dammit NB get it right! Lol...
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NorthernBorn</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body">Where to start...

First he alluded that NorthernBorn shouldn't give financial advice based upon his "minute" pay since he's in the service. </div></div>

Don't forget the part where he said "That's right in line with what my adviser told me" in reference to my comment but he PMed me what's quoted above in this thread a couple minutes after. </div></div>

I already linked to it earlier
wink.gif
, but apparently no one is following the bread trail lol...
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: NorthernBorn</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Broker</div><div class="ubbcode-body">Where to start...

First he alluded that NorthernBorn shouldn't give financial advice based upon his "minute" pay since he's in the service. </div></div>

Don't forget the part where he said "That's right in line with what my adviser told me" in reference to my comment but he PMed me what's quoted above in this thread a couple minutes after. </div></div>

I already linked to it earlier
wink.gif
, but apparently no one is following the bread trail lol... </div></div>


LOL What a fiasco.


Conclusion:

Based on the evidence gathered through Shout Box Interrogation and what has been included in this thread "Raymond D" is a 14 year old high school drop out trying to impress everybody with wild stories but failed SPECTACULARLY in that effort.
 
Re: Gun financing

I almost forgot... His Uncle who is dying of pancreatic cancer and he has such a close relationship with, but for awhile there last night he changed his occupation from "engineer" to "uncle fucker"... I can tell his uncle is special...
 
Re: Gun financing

OH MY... Just when I thought I'd seen it all... This has to be a 'Hide classic! Even managed to eff himself in multiple threads and with multiple usernames (<span style="font-style: italic">possible MPD?</span>)
eek.gif
... been LMAO for at least 15 minutes! We need a "Hall of Fame" forum to immortalize such BS so we've all got got something entertaining to read when having a bad day!
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: plong</div><div class="ubbcode-body">OH MY... Just when I thought I'd seen it all... This has to be a 'Hide classic! Even managed to eff himself in multiple threads and with multiple usernames (<span style="font-style: italic">possible MPD?</span>)
eek.gif
... been LMAO for at least 15 minutes! We need a "Hall of Fame" forum to immortalize such BS so we've all got got something entertaining to read when having a bad day! </div></div>


Ha... MPD. Not a funny issue but he MIGHT be the Aunt, Uncle and Himself all in one!
 
Re: Gun financing

Some gun shops offer lay away financing but you just can't play with your fully purchased gun till it's all paid off.

But I think financial institutions don't like guns that much, plus they are hard to recover once stolen. The interest rate would be high since there is no collaterl on a weapon.

You are better off save it up and buy it. By then there will be something new and better. Just hope the inflation rate doesn't catch up to your saving.
 
Re: Gun financing

If someone had no means by which to defend themselves, then I would think it might be prudent to put a modest purchase on credit. But to take out a note for a toy? No - bad idea!

This just doesn't look like a sound investment:

db_MG343.gif


Granted, it's slightly better than paying interest on a loan for a depreciating asset such as a car or consumer electronics, but it's still not a smart move.
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Eric Bryant</div><div class="ubbcode-body">
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Where did you find this chart or data points?
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ss7</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Eric Bryant</div><div class="ubbcode-body">
db_MG343.gif
</div></div>

Where did you find this chart or data points? </div></div>

+2 lol... Uhh Eric???
 
Re: Gun financing

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: ss7</div><div class="ubbcode-body">Where did you find this chart or data points? </div></div>

http://www.machinegunpriceguide.com/

Given the scarcity of data (note that the monthly sales "volume" is in the low single digits), I wouldn't put <span style="font-style: italic">too</span> much faith in these number. Consider this For Amusement Only
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BTW, I should probably expand upon my thoughts just a bit. I by no means am criticizing the concept of Class 3 as an investment, but rather the specific case of borrowing money to fund such a purchase.