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  1. #46
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    Quote Originally Posted by Schwettylens View Post
    What do you think they will do? I thought they will just do a penalty like maybe $30 or something but you made it sound like a percentage of the whole debt?
    Forgot to actually answer the question...

    You'll pay a penalty + any deferred interest + a huge interest (24% is what I've seen) for the remainder.

    So worst case scenario, you miss your very last payment. Suddenly all compounded interest from the last 3 years @ somewhere between 24-29% suddenly appear on your bill. It is impossible to fight unless they made a clerical error. If you refuse, it WILL appear on your credit history.

    Personally if I must do something similar, I would rather pull from my home equity line of credit. Its a fraction of the interest, no weirdness like deferred interest AND banks are more willing to work with you (its tough for them to take primary residence so they would rather work with you). Its still not recommended but something to consider if you do have property. Remember, you are betting that you will remain able to pay for the term. Who knows what can happen.. Loss of employment is a big thing I've seen several individuals go through (unfortunately becoming common) Compounding deferred interest snafu from CCs just added salt to the wound... big time. I've also heard employers now doing credit history checks too.. they'll see these issues during the hiring process.... OUCH!
    Last edited by usayit; 09-05-2010 at 08:28 AM.
    <exits stage left>



  2. #47
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    Hmm thanks usayit. Thats a good article. It sounds like they do their best to screw you even if you pay everything on time. Really I had no problem with people telling me that I shouldnt do it. But most people didnt base it on this bad practice Deferred interest charge. They just base it on "if I cant pay it cash now, dont do it". And after seeing multiple of them it gets annoying. So thanks to your post I have reconsidered my decision. I will just save up and get 5D mk1 for now.
    USAGANI.COM - FACEBOOK
    5D3, 5D2, 15mm f/2.8 fisheye, 24-70 f/2.8L II, 35 f/1.4L, 50 f/1.4, Minolta 58 f/1.2, Tamron 90 f/2.8 macro, 135 f/2L
    Fuji x100s

  3. #48
    No longer a newbie, moving up!
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    LAY AWAY!
    Walmart!

  4. #49
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    Quote Originally Posted by Schwettylens View Post
    Is there such a place? Or do I have to use my credit card and bend over with 17% interest? (not sure what the interest is on my CC because I always pay it off, but you got the idea). I'm thinking about getting a 5D an another lens.
    Sorry to bring up an old thread but i was looking for the same thing, and i dont know that i have established good enough credit for the best buy option. there is an audio gear site called AmericanMusicsupply.com which has a service where you make a downpayment for your gear and then pay the rest off on a monthly basis. there is no credit check required for that site either, i'm just wondering if there is a site like that for photography gear?

    Quote Originally Posted by Vinny View Post
    DON't DO IT!!!

    I agree with saving up the money and then buying it. Put $50, $100 or $200 a month away and don't touch it. 2 things will happen - 1) you'll not have a bill on your hands and 2) you're not paying for a camera that might be replaced in the time you are still paying it off and then you'll possibly regret it.
    is it really worth it to save your money for 2 years to buy a camera and a lens? or even one lens? i feel like the amount of work you could put in in the amount of time you would be saving could potentially pay off that camera plus 2 or three more. photography/videography is a catch 22, you need good lenses and quality equipment to get paid but you cant get any of that without having money. I don't feel like "going into debt" for a camera is any less legitimate than going into debt for a car. that is assuming you are in the business of photography/visual media and not just a hobbyist. When quality lenses cost 1600 a pop its unrealistic to expect every entry level photographer trying to get their foot in the door to save for a year to get their equipment game right, especially with the competitive nature of the field....

  5. #50
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    Entry level photographer=Hobbyist with a dream

    Pay cash, your not going to make the money back just because you buy a nice camera.
    Ryan Lindsey


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    Canon 7D Gripped, Canon 50D gripped, Minolta Flashmeter V
    Canon 50mm 1.4, Canon 100mm F2, Canon 24-70 F2.8, Canon 70-200 2.8L IS, Tamron 17-50mm 2.8 VC, Canon 1.4x Teleconverter
    Canon 430exII, 580exII, ST-E2, A slew of studio crap I rarely use monolights, stands, softboxes
    Spyder3 Pro, Wacom Intuos 4, CS5, LR3, Portrait Pro St.

  6. #51
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    From AmericanMusicSupply

    If your order is between $249.99 and $995.94, your credit card will be billed in 3 equal payments, every 31 days, starting on the day your order is shipped.

    If your order is between $995.95 and $3000, your credit card will be billed in 5 equal payments, every 31 days, starting on the day your order is shipped. 5 Payment plan will need credit approval.

    Its not brain surgery here! (Price of item + tax + shipping)/3 = payment (or 5 months). What's wrong with putting away the "payment" amount in YOUR bank account for 3-5 months and then buying the item? Are we so undisciplined that we need someone else to do the saving on the behalf?


    Here's the difference (at least for me) between a camera and car. 1) You can't buy a reasonable car for the typical cash in bank. 2) A car is required to commute to work. WORK == PAYCHECK. Camera will not pay itself... ITS PURE EXPENSE.

    The lesson here.. run your personal finances like a business. For most non-profitable startup type businesses, your expenses should be fully funded or in plan moving forward.

    Don't they teach personal finances in High School these days?
    Last edited by usayit; 06-07-2011 at 07:29 AM.
    <exits stage left>

  7. #52
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    Quote Originally Posted by kundalini View Post
    Best place to buy camera equipment with monthly payment option?
    It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.

    ^^^^^^^^^^^^ that

  8. #53
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    Man this is one hilarious thread. The guy asks a simple question and you holier than thou POS's feel it's better you tell him what he should or shouldn't do than answer the question. I didn't know whether to laugh or cyberly grab someone like Ryan L by the throat. What wrong with you guys? You aren't his wife, mother or financial advisor. Ugggg. I wish one of you lived near me. It would be worth breaking my 70-200 2.8 off is one of your asses. And since I refuse to be like any of you (arrogant Ryan L) I will at least say what I know and that is Bill me Later Is the only one I know of. Jesus Christ who cares if somebody wants to pay interest on something. Maybe having the item NOW is worth some interest. Who the hell are you to tell others what is better for them if they didnt ask?

  9. #54
    I spend too much of my life on TPF!
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    I've used the bestbuy card twice, once to buy my camera, again to buy my home theater system when I got my house. It's not that hard to keep a monthly payment. If you're short on cash, you can just pay the minimum that month, and there is no rule against paying extra. You just walk into the store and hand them cash. As long as you stay on top of it you're alright. And btw they will match amazon now case by case.
    Current gear:

    Nikon D5000
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    SB-600 flash
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  10. #55
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    Quote Originally Posted by Dextermorgan View Post
    . Who the hell are you to tell others what is better for them if they didnt ask?
    Who the hell are you to tell people what and how they should dish advice?

    A school teacher of mine once said to my class that anyone who simply wants answers to a test is a waste of time. I think that applies here as well. I did provide information that the OP didnt know, was beyond the original scope,and was thanked for it.

    so fu
    <exits stage left>

  11. #56
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    Well it has been 9 months since I wrote this. I didnt even realize someone bumped this thread. Anyway I just ordered the 5D II. The best thing is I used money I earned from photography! Now I can shoot with 2 full frames (mk1 and mk2).
    USAGANI.COM - FACEBOOK
    5D3, 5D2, 15mm f/2.8 fisheye, 24-70 f/2.8L II, 35 f/1.4L, 50 f/1.4, Minolta 58 f/1.2, Tamron 90 f/2.8 macro, 135 f/2L
    Fuji x100s

  12. #57
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    congrats... youll enjoy it even more.. !
    <exits stage left>

 

 
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