I did. It's just another credit card, nothing hidden when I did it.

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Nah man... take it from me. Only ever use credit when you absolutely have to. I'm not saying you have weak character or anything. It's just when you realise the potential for all the gear you could suddenly have then it spirals out of control.

As far as the deal itself is concerned, it's probably no different than any other small unsecured loan, ultimately though, you will end up paying more than you normally would.

You have gear anyway so I'm sure it can wait.

Just my two cents

Nem

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quote:

Originally posted by Nemesis44 Nah man... take it from me. Only ever use credit when you absolutely have to. I'm not saying you have weak character or anything. It's just when you realise the potential for all the gear you could suddenly have then it spirals out of control. As far as the deal itself is concerned, it's probably no different than any other small unsecured loan, ultimately though, you will end up paying more than you normally would. You have gear anyway so I'm sure it can wait. Just my two cents Nem

+1. IMO if you have to resort to this it should be reason enough for pause.

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I took out a 1000 euro loan when i bought my xone 92.

I knew i could pay it back at only 86 euro a month and ended up paying something along the lines of 60 euro extra in interest.

Personally I was more than happy with going down that route. I was confident about the payments. I got the benefit of being able to use the mixer for a year and ended up only paying an extra 60 euro in interest.

Lets face it 1000 euro isn't really that much money. When you start adding multiple interest free purchases together that's when the shit can hit the fan IMO.

This was my only loan (no mortgage or car loan) so i knew i would have control over it.

It all depends on each individuals circumstances.

Remember it's a very high interest rate...

Mine was 0%. So if he's getting a low rate, not paying more for it....

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quote:

Originally posted by progress Mine was 0%. So if he's getting a low rate, not paying more for it....

How'd you get that? When I looked it was over 20%.

its 0% interest for a year.... but if you dont pay it off in a year, you have to pay all that interest which was deferred during the first year. kinda like musicians friends deal...

That doesn't actually sound too bad to be fair, but I would still avoid it like the plague. They have to make their money some how and there will be charges somewhere (Probably).

I have learned the hard way with this type of stuff. It does very easily run away and become a case of 'tomorrow' syndrome.

I would advise against it. You are better off saving that amount of money every month, that way you can prove to yourself that it's possible for you to do and can make a more informed decision about it as to how possible it is.

Used to work for a credit card company a long time ago so know how this all works. It's always too good to be true.

Cheers
Nem

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Be careful with credit of course - but as long as you make the payments you should be ok. I just bought my new Mac on credit with their card and it's been fine so far (as long as you pay it off within a year).

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why not just use a creditcard? atleast in my country the rent isnt very much on those, its like a car-loan cirka, 8-9%. i use it all the time caus i never wanna miss a thing lol.