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Buying basses on credit


markdavid
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If you got credit from a shop you WILL be treated like a mug. :)

Your best bet is to first workout how much you can afford to pay a month and set up a savings account. Set up a standing order to transfer that amount from your bank account into this new savings account.

Then apply for a credit card with 12 month interest free period offer on purchases - halifax currently offer this, I'm sure there are others as well. When you get the card just use it once to buy the bass (after shopping around and haggling over the price) then put the card away don't get tempted to run up a higher debt. Pay the minimum amount off each week from the savings account, then just before the interest free-period ends pay the outstanding amount off and cancel the card.

If you receive any credit card cheques or loan offers from the bank in the meantime shred them immediately, they want people to borrow more than they can afford and if you do you'll regret it almost immediately.

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I got my Spector Q6 Pro from SoundControl on interest free finance. Paid it off on time and all was well - £330 in total.

If I hadn't have paid it within the 12 months then it would have automatically begun a 3 year plan at about 30% APR that would have made the bass cost around £600.

Be aware.

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i went to PMT for my Ashdown, negotiated a discount with them based around the best price I found online [b]and[/b] a 10 month 0%. I would have preferred to be able to buy a second hand rig with cash, but at the time my old rig had stopped working, I had gigs but no ready cash so it was the best option for me.

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