Vendors Offering Financing - Do You Support It?

[Bob Weigant]

I have no problems with what people do with their money or how they afford things for their hobby's. Its none of my business

 

[vetteguy53081]

I can say- I support it for a couple of reasons. Some want to get better equipment but dont have liquid money to fork up front. Additionally, many try to balance this hobby with family expenses and obligations, and this makes it possible.
I can also say I took advantage when there was Marine Depot and bought the APEX 2016 model A2when it first came out and wanted it now and opted for 18 month financing and two things I will say going this route. . . . . .

1- I made triple payments and paid it off in 7 months- Do not drag this finance option out- then you win
2- these payments were reported to credit bureau and actually boosted my already good credit score.

 

[Sal Amadeo]

I only don’t like it because it makes me worried they were not ready to be taking something like this on. You bust that glass box you’re still paying for a year on... and destroy floors etc.... you won’t be happy and you’ll be out of the hobby just as fast as you financed in. I’m sure someone is going to reply with oh well I did it this way or that way and it worked out to finance... well good for you but the general public isn’t smart enough and is going to go into senseless debt they never should have gotten into.

So what I hear you say is, you're the only smart person in the hobby and everyone should follow you. Thank you, Mr. Trump!!

 

[nuxx Verified Sponsor]

We're adding it to TankStop soon.

More ways of payment can't be a bad thing.

We use Affirm on my other business which is high-end watches and jewelry, which makes total sense.

 

[Daniel@R2R Verified Admin]

So I have used 0% financing options to purchase expensive equipment. I haven't done it for livestock.

 

[drblank1]

Proverbs 22:7b, “... the borrower is slave of the lender."

 

[drblank1]

So I have used 0% financing options to purchase expensive equipment. I haven't done it for livestock.

While I don't believe in debt (haven't had any for the last 20 years), 0% financing is the smart way to go. As time passes, the US government continues to devalue the dollar so you do pay with cheaper money.

 

[lynn.reef.nerd]

I turned off the feature on my site. I really have no "strong" feelings toward it but it made me uneasy to offer a debt options to someone who is buying corals.

I get it and I have used the 0% financing many times for purchases (Red Sea Tanks).

Sellers have no rights to tell people HOW to use their money, but we do have the rights to decide HOW we offer our goods.

I have seen too many folks go into debt for unnecessary items, no need to give some an avenue to make bad choices. If I sell less I'm fine with that. Until I see a large amount of sellers demanding the options, I will keep it off.