Golf Club Financing

[nsxguy]

My friend, slow your roll. You're reading my post ALL wrong. And I never said having debt is dumb OR irresponsible. I'm on YOUR side. You're one of the few on this thread who's made any sense.

 

With all the silly postings here my favorite was "Financing is the number one money maker for banks". I mean talk about Captain Obvious.

 

The TM upgrading isn't a scam, it's a "scam" (of sorts), just like car leasing in that they try to reel you in and hope (or know) how often people re-up , and OFTEN early and at a much greater cost than they expect just because they want something newer and shinier.

 

That's what TM is doing as well

 

The credit card issue is simply showing that sooooooo many people live beyond their means and buy something today and pay it off in installments because they don't want to wait.

 

I GET that using OPM can be a GREAT thing but credit MISmanagement is (unfortunately) far more "normal".

 

My apologies. I thought you were arguing TM shouldn't offer this because household debt is already too high (others have said this, and it's nonsense). I thought the misinformation statement was directed at me.

 

Understood. No worries. It's sometimes (often ?) difficult reading and getting the real gist of what someone's saying.

 

I've certainly done more than my share of the same.

[STPBMW]

Not here to judge others financial decisions. For me it just doesn't make sense for most consumers. I also look at opportunity cost when making decisions on whether or not to finance. However, this is usually a decision when determining whether or not to finance a new car at a much lower rate.

 

A 10% loan? Not for me... When the market gets hot sure it's possible to beat 10% in year but it's hardly sustainable day trading regular over the long haul no matter how good you are at it. I'll take a guaranteed 10% savings (by not financing) and be done with it.

 

Not to mention, for those trying to free up cash for investing there is much cheaper credit.

 

 

[Jojodimaggio]

Financing the purchase of firearms or golf equipment is Ridiculous

[Dizz]

I really don't see why this is such a big deal, this helps some people too. Sure, there will always be people that go nuts when they get a line of credit and then make it difficult to get out of debt. But when I worked in the golf business, there were always kids just getting going that needed new clubs because they improved so fast but their parents just couldn't or wouldn't spend what was needed for them to have the correct clubs. I bet they would have spent $100-200 every month instead of the initial $2000.

 

Honestly, 9.99% is nothing on a loan of $500-1000 over 18 or 30 months... which is what TM is offering. Yea 9.99% sucks on a car loan. But in the example of a new driver, say $499 + tax depending on where you live we'll round it to $550. If that's financed over 18 months at 0% versus at 9.99% you are paying an extra $3-5 per month to have the club now. Also 9.99% is less than any credit cards out there unless you have an intro 0% offer over 12-18 months.

 

I definitely wouldn't want to finance golf clubs but what TM is offering really isn't that crazy.