How do you fund your guitar buying....?

Dominic

I'm sure the answer isfrom most here is  simply "from money that I earn by going to work"
Very few here will answer " I have my Butler run along and buy them from petty cash in my Trust Fund "
Nobody will  answer " If I see a Vintage Gibson must-have I go out on the Rob / Rolex muggings / etc "
I'm happy to be transparent tho ....If it's something I must have I usually kidnap a neighbours wife or children and use the Ransom money to satiate my six-string craving .

p90fool

In the olden days it was gigs, so now I just sell them.

Axe_meister

I starve the wife and kids and switch the heating off when I want a new guitar.

Snap

Tbh, I am at the age where most of the stuff I want, I've got, or I've stopped wanting them really. I've got a pretty good guitar collection so there isn't much I want to add to it really. Apart from a nice P bass, a good telecaster, a neat hollowbody, a 1W boutiquey valve amp, a markbass amp, pmsl

TeleMaster

Snap said:

My view on buying most things is, if you haven't got the money without borrowing, then you can't afford it. Save up rather than borrow.
I know that's different for things like cars and houses, but for non essential stuff like guitars there is no way I'd borrow money to buy one. 

Just don’t think it’s a big deal if you’re able to pay it off. 

I’d rather keep my savings and just pay off the guitar in a year and if I need to, I can.

TeleMaster

fretmeister said:

Everytime I seduce your mum she gives me a pedal.

So you’ve got zero pedals then. 

Roland

fastonebaz said:

I work 40 hours a week for 48 weeks a year and occasionally save enough to buy guitars ... 

I worked for forty-something years, often away from home all week, and didn't spend very much because I didn't have the time to play .... and now that I have time and can afford to buy guitars I still don't, mainly because I prefer to make them.

Snap said:

... if you haven't got the money without borrowing, then you can't afford it ... 

Excellent advice.

Iamnobody

Snap said:

My view on buying most things is, if you haven't got the money without borrowing, then you can't afford it. Save up rather than borrow.
I know that's different for things like cars and houses, but for non essential stuff like guitars there is no way I'd borrow money to buy one. 

I do agree with this thinking, but equally if I can get something on 0% be that a credit card or store credit then I will always look at that option. Unless there’s a saving to be had buying outright...

It means my saved money can stay put in my offset mortgage account.

So taking credit (for me) is not alway a case of affordability it’s what I like to call money management. I’m good at money management!
 
I’ve funded gear in all sorts of ways in the past though - buying, selling, credit etc. I’m not actively looking for gear now. My recent stats are very good - sold 5 and bought 1.

RaymondLin

The reason I don't do monthly payment is that £20 here, £50 there a month adds up.  You also never know what you might do or need financially, like needing to move house with new mortgage, any credit agreement wouldn't look favourable so that's why I like to have money to buy it or I don't buy.  Recently I halved my mobile contract, cancelled gym and Odeon, I freed up almost £100 a month doing so, something that I have paid monthly for a few years.  In theory in 24months I would have enough for a Gibson Les Paul.  I could go and buy one on interest free for 24 months with this and I wouldn't feel it because of the offset difference and I would have a new guitar.

My personal view however is that is not good money management as I am taking on a debt, unnecessary debt one at that.  Even if the overall payment works out the same.  I rather have the asset outright, the only exception would be a house.  

When I am buying, I would look for ways to put it on my Amex to accumulate points, which do add up and they offer best value return when used correctly.

p90fool

I can imagine getting into debt because you don't currently have a guitar at all, but not just to put another shiny thing on the wall. 

MattW

I don’t really do trading, I’ve sold 4 guitars in 30 years so am much better at getting them than I am at letting go it seems. I’ve never bought on credit so all bar one have been through salary/savings. The one exception was an American Deluxe Tele I bought in 2003 after I’d spent over a week in hospital. Turned out that the private health cover my employer provided reimbursed me £100 a day for any time I spent in hospital and hadn’t gone private so I ended up with a shiny new guitar to help my recuperation.

Dontgiveupyourdayjob

I tend to have a "one in, one out" policy as I just don't have the room for loads of guitars, so I sell or trade guitars to bring in anything new I might fancy. If I need extra cash to make up any shortfall in value of what I'm selling I bang in some overtime until I've got enough.

I'd never do finance or take money out of savings; that way madness lies. 

Fishboy7

I normally borrow from loan sharks or turn tricks for sailors 

drofluf

Usually by the sale of a kidney*.

*Obviously not mine but Tinder is a great way to meet new donors friends

thumpingrug

I dont drink and I dont smoke,  Guitars are my vice.  

Teetonetal

I never buy anything unless I can afford it outright.

I used to teach and do depping work to buy gear, but the last couple of years I stopped that. To be honest not much gear interests me these days.... 

Deadman

Does the 'don't buy it if you can't afford it' rule apply to just guitars? 

RaymondLin

Deadman said:

Does the 'don't buy it if you can't afford it' rule apply to just guitars? 

luxury goods typically but as much as humanly possible really depending on your personal circumstances.

Deadman

RaymondLin said:

Deadman said:

Does the 'don't buy it if you can't afford it' rule apply to just guitars? 

luxury goods typically but as much as humanly possible really depending on your personal circumstances.

Gotcha Raymond, wasn't being contentious (much!) but just wondered who'd commented as such didn't do car loans/home improvement loans etc.

zepp76

None of yer feckin business Mr Tax man!