I am 100% against Marine Depot's new financing options

[bizacon]

I think we are starting to get off point here.

 

[vic5hands]

Sorry but Marine Depot has poor customer assistance. I gave them a chance many a time. Just being honest Sorry .

 

[Valkyrie]

I wasn't criticizing or being negative, I thought it was interesting.

 

[cgdcinc]

Bought my system on Amazon credit! 80 bucks a month for 12 months to pay it off with no interest. Bought all the necessities to start it at the same time. Why wouldn't you?? This was a true plug and play. The only thing I bought at my lfs was rock. If you cannot afford to make the payments or get ridiculous interest you shouldn't do it. There are good ways to do it with credit though.

 

[Daniel@R2R]

I think we are starting to get off point here.

I think it's been kinda off topic for a while now... but hey...it's fun to read with popcorn in hand....now where is that darned popcorn emoji...

 

[Elder1945]

You are absolutly correct about Affirm being a preditory lending agency that practices usury which is illegal at some levels and immoral at all levels. They prey on people who cannot afford the purchase in the first place and end up at Pay Day Loan centers just to keep the power on in their rentals. I see many of these individuals each week through a community service my wife and I volunteer for. It is sad and makes me a little angry. One of the local rent to own companies owners lives in our town and has a staffed limosine just for dinner and drinking, new Corvette, Aston Martin and assorted other toys as well as multiple homes. His fortune is built off the knowledge that he can depend on people who cannot buy elsewhere to buy from him at huge interest rates. It is his right and the consumers right but it is wrong on so many levels.

Lets face some facts about the Aquarium industry. We in the industry know that the average customer will only keep their aquarium for a year or less. At that point it will end up in a yard sale, online sales post, or just get hauled to the dump. As such several years ago the industry printed information that was sent to industry insiders about this trend. The industry was looking for ways to attract new customers and retain the customers it has already. THIS IS A HOBBY. That should be a major wake up to the value of any used equipment. It is like buying a new motorcycle made for off road use only...the value drops like a stone as soon as it rolls off the showroom floor. Same is true with any aquarium equipment. You have a limited number of buyers scattered around the globe and there are lots of opportunity to buy cheap.

Save, plan, and buy what you can afford not what you 'want' and life is better. Buy quality and not quanity...wait a couple of years to see it the latest technology proves itself worthy of the hype. Take it from someone who spent years persuing the dream and the debts in the Aquarium industry. I now have a business and not a hobby and that is a big difference.

By the way success in the Hobby takes patience and study. It should be the same in your purchase decisions. Nothing good happens in a hurry in this Hobby...ever.

I wish you all the best as you make choices today that can affect tomorrow.

I love how " evil" you make the business owner sound.... He made a company based off a need that he filled... I guess he employs no people either and jusr rides around in he nice cars.. I even bet he never took the risk in opening a company he just sat on a throne and made money right?

Why is a business owner the bad guy... The more successful your business the worst it is.

 

[Daniel@R2R]

Let's see how long this thread stays around now they we have a visitor in the thread!

Oh come on... now you're just trolling. ;Troll;Troll;Troll

...I find it slightly offsetting that you find my critique of MD's "good business practice" to be "borderline shameful" when you are a a) staff member and b) "partner member" and MD happens to be a R2R sponsor.

I think it's interesting that you feel free to come on and voice your own (very strong) feelings on here, but feel the need to accuse others of shilling when they don't agree with you. I find your attempt to silence another member by pointing to their status as a mod and partner to be "offsetting." If you want to stand by your guns and argue your point, feel free, but there's no reason to characterize someone else's opinion as being less honest than your own. Let's all respect one another here.

 

[WhiskeyCoffee]

So how will Affirm make money. A service is offered to consumers. Yes, it isn't ideal for most because of the APR but Marine Depot isn't making it the only option at checkout. I think the issue is that the OP is tempted but he doesn't like the APR he was given.

Nice speculation. My days of financing my impulses are long gone, bud. I keep my hobbies strictly cash only and save credit for when I absolutely need it. I have a wife and kid to think of. I'll upgrade my tank after those priorities are taken care of first.

 

[FirstContact]

You are absolutly correct about Affirm being a preditory lending agency that practices usury which is illegal at some levels and immoral at all levels. They prey on people who cannot afford the purchase in the first place and end up at Pay Day Loan centers just to keep the power on in their rentals. I see many of these individuals each week through a community service my wife and I volunteer for. It is sad and makes me a little angry. One of the local rent to own companies owners lives in our town and has a staffed limosine just for dinner and drinking, new Corvette, Aston Martin and assorted other toys as well as multiple homes. His fortune is built off the knowledge that he can depend on people who cannot buy elsewhere to buy from him at huge interest rates. It is his right and the consumers right but it is wrong on so many levels.

Lets face some facts about the Aquarium industry. We in the industry know that the average customer will only keep their aquarium for a year or less. At that point it will end up in a yard sale, online sales post, or just get hauled to the dump. As such several years ago the industry printed information that was sent to industry insiders about this trend. The industry was looking for ways to attract new customers and retain the customers it has already. THIS IS A HOBBY. That should be a major wake up to the value of any used equipment. It is like buying a new motorcycle made for off road use only...the value drops like a stone as soon as it rolls off the showroom floor. Same is true with any aquarium equipment. You have a limited number of buyers scattered around the globe and there are lots of opportunity to buy cheap.

Save, plan, and buy what you can afford not what you 'want' and life is better. Buy quality and not quanity...wait a couple of years to see it the latest technology proves itself worthy of the hype. Take it from someone who spent years persuing the dream and the debts in the Aquarium industry. I now have a business and not a hobby and that is a big difference.

By the way success in the Hobby takes patience and study. It should be the same in your purchase decisions. Nothing good happens in a hurry in this Hobby...ever.

I wish you all the best as you make choices today that can affect tomorrow.

+1 The above sums it up for me. It may not be any of our business how others spend their money, but we don't have to applaud businesses or take our business to those who take advantage of the poor or financially illiterate.

 

[WhiskeyCoffee]

Oh come on... now you're just trolling. ;Troll;Troll;Troll

I think it's interesting that you feel free to come on and voice your own (very strong) feelings on here, but feel the need to accuse others of shilling when they don't agree with you. I find your attempt to silence another member by pointing to their status as a mod and partner to be "offsetting." If you want to stand by your guns and argue your point, feel free, but there's no reason to characterize someone else's opinion as being less honest than your own. Let's all respect one another here.

So you don't think it's reasonable to be skeptical when staff and partner members defend the company(ies) in question? Hmm...

Listen, my whole argument comes down to one simple philosophy. The reef industry, much like most white collar hobbies, is insanely inflated. You ever watch a BRS video? You'll get recommendations to buy products that are in the hundreds, if not thousands of dollars. I watched a MarineDepot video that was a a DIY chaeto reactor being peddled as "cheap". You know how much it was? At least $125 from my calculations.

So how is that supposed to make someone feel when they are in to the hobby but can't afford it? Are they supposed to walk away from the hobby or stretch their budget and buy it? I say no to both. Marine Depot's new financing option is doing nothing to advance the hobby or help the consumer. It keeps the rich, rich and the poor, poor.

 

[mta_morrow]

This whole thread to me is totally hilarious. I'm 54 and I've made pretty much every mistake you can. It's a choice. That's all. It's not about a reefing community offering financial advice on a hobby. While I have learned a lot on this forum and have made decisions on what I have learned, this thread makes no sense to me. I also have a corvette as a hobby. I had a choice on financing it. Maybe I should start a thread about car manufacturers financing their own cars. Their interest rates are based on credit ratings as well. Perhaps we should stop buying cars. That will show them!

 

[Elder1945]

So you don't think it's reasonable to be skeptical when staff and partner members defend the company(ies) in question? Hmm...

Listen, my whole argument comes down to one simple philosophy. The reef industry, much like most white collar hobbies, is insanely inflated. You ever watch a BRS video? You'll get recommendations to buy products that are in the hundreds, if not thousands of dollars. I watched a MarineDepot video that was a a DIY chaeto reactor being peddled as "cheap". You know how much it was? At least $125 from my calculations.

So how is that supposed to make someone feel when they are in to the hobby but can't afford it? Are they supposed to walk away from the hobby or stretch their budget and buy it? I say no to both. Marine Depot's new financing option is doing nothing to advance the hobby or help the consumer. It keeps the rich, rich and the poor, poor.

Inflated in what way..... I dont see @Terence or many other high profile people in this industry driving around in $300,000 cars nor have i seen local fish store owners with millions........ I am kinda wondering where this over inflated money is going....

 

[bizacon]

I am running out of popcorn.

Who wants to bet me, politics comes into play in 3 posts?

If you win I will buy you something from MD with their great financing option!!

 

[mta_morrow]

I am running out of popcorn.

Who wants to bet me, politics comes into play in 3 posts?

If you win I will buy you something from MD with their great financing option!!

Trump won!

 

[WhiskeyCoffee]

Inflated in what way..... I dont see @Terence or many other high profile people in this industry driving around in $300,000 cars nor have i seen local fish store owners with millions........ I am kinda wondering where this over inflated money is going....

Don't you think using a $300,000 car and "millions" is being a bit dramatic? Like I can't even respond to you because your examples are so outrageous lol.

 

[WhiskeyCoffee]

Btw, I'm glad the trolls are out in full force. There was a lot of good discussion in here until they came in. Congrats on your success in getting this thread locked (calling it).

 

[120reefkeeper]

 

[bizacon]

Trolls? Didn't know we are on to pet names already.
This was great conversation until you become extremely defensive and started taking shots at staffs and sponsors and not letting people voice their opinions and actually take time to reflect on them.

 

[WhiskeyCoffee]

Trolls? Didn't know we are on to pet names already.
This was great conversation until you become extremely defensive and started taking shots at staffs and sponsors and not letting people voice their opinions and actually take time to reflect on them.

I feel like my thoughts have been pretty logical and clear. Of course I'm going to defend my argument but I wouldn't say I've been "extreme." *shrug*

 

[Elder1945]

Don't you think using a $300,000 car and "millions" is being a bit dramatic? Like I can't even respond to you because your examples are so outrageous lol.

☺