has anyone used the afrim financing? I just don't want to go in not knowing. It's a big company but what exactly does it entail? I'm thinking of using it for lighting
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hey, I don't think people would want me getting cheap lighting and killing all my corals. Rather get couple thousand lightingMixed reviews in general, but the terms should spell out what it entails. Be prepared to get lots of comments about how you shouldn't finance a hobby
Thanks man, so I've seen a lot of financing and I guess I'm just confused with what I've seen before. This would be a loan correct? it won't be you get the item when it's full paid off or is it like that? both are fine honestly just wonderingGood company to deal with. Everything is straight forward. What you borrow, how many payments, interest per month, interest overall. Also shows on your account page all payments and dates plus the amounts.
One of the most straight forward places I’ve dealt with.
Yeah that's what I'm trying to weigh right now, that, or risk having crappy lighting because I didn't get good lights?don’t finance even at 0% apr unless you are 100% sure you can pay it off in time. otherwise you could get nailed for the full interested!! these aprs are generally not favorable either.
also keep in mind this will be a hard inquiry on your credit report. is it worth it????
do you have any current credit cards that are offering special 0% apr?Yeah that's what I'm trying to weigh right now, that, or risk having crappy lighting because I didn't get good lights?
For me I suck at saving up money so I'd rather pay monthly, that's my logic for doing it.Basically, it's like buying the thing on a credit card, except as a one-time loan.
All the usual caveats about financing hobbies - someone had to say it. There are times when it makes sense to do so, though. I financed my wife's new computer, and I'll do the same when I build mine. I could afford to pay cash for them though - that's the general rule of thumb. Finance when you don't have to. If you have to finance in order to afford it - you can't afford it.
Rather than choosing between financing or getting crappy lights... might I suggest merely waiting longer to start off the build and saving up the money for your lights?
well thank you, yeah I just need to kick myself and put some money away for a few months, trying to stop that dumb habit, think I can do it with the lighting as an incentive. I've just seen afirm around a lot and I was thinking maybe it would be a good alt to saving but nofor those of you who want to know more about credit......
the official credit thread
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If you suck at saving money how will you be able to make your monthly payments?For me I suck at saving up money so I'd rather pay monthly, that's my logic for doing it.
For me I suck at saving up money so I'd rather pay monthly, that's my logic for doing it.
It's easier for me to save a couple hundred then a thousand or soIf you suck at saving money how will you be able to make your monthly payments?
This has been the most best comment yetI get that, but here's how you can overcome it:
1) Figure out what you would pay per month if you financed it.
2) Open up a savings account. It'll ONLY be used for this purpose - once money goes in here, it doesn't come out until your savings project is finished. (With the obvious caveat that, if you have an emergency, you can tap this fund.)
3) Every month, put whatever your payment would have been into this account.
Now, instead of paying interest, you're actually earning interest. And when you're done and pull the trigger on the lights, you won't have to remember to pay anything - they'll just be paid for.