Vendors Offering Financing - Do You Support It?

Mike cooper · Apr 2, 2020

Why is this thread,if u don't need it,don't use it . every situation is different.

Mike cooper · Apr 2, 2020

Mike cooper said:
Why is this thread,if u don't need it,don't use it . every situation is different.

MichaelReefer · Apr 2, 2020

Jose Esteves said:
I look at it like this. If you're paying with a CC, then you are financing it. So no matter if its Affirm, Paypal finance, or Master Card, you are financing it one way or another.

Eh it depends. Some of us are extremely responsible and pay our credit card off immediately and never push it far enough to have to pay. I only use my credit card to build my credit score. I am almost 800 and am 28 years old. *shrug*

Katrina71 · Apr 2, 2020

I'd be cool with payments being split into 6 for anything 250.00+

Daniel@R2R · Apr 3, 2020

I'm good with it, especially for high end equipment.

MarineREEFpassion · Apr 7, 2020

Duffybubbleboy said:
Haha all you guys that used affirm just got taken.

Affirm is a complete scam. Why?? Because you can’t pay it with a credit card. You have have a large lump of cash to pay every month - miss one forget that interest free crap.. Straight to collections with you, now you are screwed with you’re credit and will likely pay double for your junk you should of just used a credit card for...

It’s bad for the consumer period - read some reviews on Facebook about affirm it’s a SCAM...

Instead of talking about something you know nothing about go do some research.. DO NOT USE AFFIRM- it’s not interest free, it’s meant as a way to catch your butt off guard so they can’t make double the profit. “Free - NO interest” yeh right that’s a verifiable lie...

I won’t be even buying from places that’s offer affirm any more sorry I actually removed some of the sellers from my usually list of suspect and block their Emails for their stores, I’m serious, it’s a predatory lending at its worst. It’s bad for any hobby or industry it touches...

Just use a credit card, if you can save up large chunks of cash to pay affirm at the beginning of the month - why use interest or affirm at all then ? Anyway I hope I save some of you a lot of hurt and financial pain and suffering. Do not use affirm people...

Not true, at least not with me. I’ve used it twice, once for four new tires for my truck and for a big protein skimmer. My payments were a mere $55 for the tires a month and I paid them off early and my protein skimmer was 35 a month and paid it off early. I only used it for the low payments and so I didn’t have to shell out large chunks of money at one time. I’ll use them again for sure.

Berdegarf · Dec 8, 2022

Anyone requires financing. Pets always require additional care. If you are not ready to spend money on a good aquarium or food, you should not get fish or reptiles. I have a friend who is prepared to go to another city to buy toys and a terrarium for his snake.

PR_nano · Dec 8, 2022

I have used a feature called (Plan it) offered by the cc which split a set of payment with 0 interest and a small fee like .50-1$ per month. They used to do anywhere from 1 to 12 months and you could select, but now they only do 3 months plan. I payoff the cc at the end of the month so that helps when I buy large ticket items and keeps me on budget.

MichaelReefer · Dec 8, 2022

For a hobby? No.

I agree with others that if you cant afford a hobby, wait or go smaller for something you can afford. But to take a loan out for a hobby seems pretty stupid in my opinion.

Berdegarf · Dec 9, 2022

Berdegarf said:
Anyone requires financing. Pets always require additional care. If you are not ready to spend money on a good aquarium or food, you should not get fish or reptiles. I have a friend who is prepared to go to another city to buy toys and a terrarium for his snake.

Of course, it is necessary to monitor financial planning, tax-smart asset management to allocate money to interests. I always keep track of expenses and income to cover all my fixed and variable costs. Last month I spent too much money on decorating the aquarium. I will save money this month.

GARRIGA · Dec 9, 2022

Good business practice. Customers need to be responsible with their spend.

rtparty · Dec 9, 2022

It’s not my business nor do I care how people pay for anything in their life. 99% of us are adults and can make our own decisions.

Jared Bryant · Dec 9, 2022

Financing money for a HOBBY is beyond bad financial decisions...

HomebroodExotics · Dec 9, 2022

If it's 0% interest you better believe it. But that won't last forever. Like the rich say, don't use your own money if you don't have to. Just be responsible about it.

HudsonReefer2.0 · Dec 9, 2022

I think it’s up to the consumer. Ur money, ur choice. Happy Reefing.

Joe.D · Dec 10, 2022

I think it’s fine. As many other posters have said, people have the freedom make bad decisions on the time. That’s not the vendor’s problem - they need to sell product. (Can you tell I run a sales team?)

At the end of the day, some people want to buy a new system rather than dealing with piecing together used gear that may (or may not) need to be replaced in short order once it’s up and running. Financing may be the only way they can do that.

This is the path I took - I wanted a new system - though my Amex offered a promo for interest free payments over 2 years. I could have bought it outright, but it would have stretched me a bit at the time.

So, I have my new RS Reefer 350 and couldn’t be happier.

Pipo5 · Dec 10, 2022

I believe i Rather save the money to buy what I want on my own time then be forced to pay it every month and if and emergency happens and I can't make a payment there goes my credit. And now because of a new ecotech radion led my credit is shot and can't buy a new home,car or essential things my family really needs lol

Vasir · Dec 10, 2022

I use PayPal's 'pay in 4' anytime its offered. 0% interest and its split over 4 payments every 2 weeks? why not?

AydenLincoln · Dec 10, 2022

I like PayPal in 4! It has no interest and lets me a broke college student and even more broke since I started this hobby lol buy things like an Apex and this applies to other things not in the hobby but I really only buy things for my fish tanks haha. And to be fair Pay in 4 etc. is available to any company connected to Shop/PayPal! Which is 99% of e-commerce websites the company really blew up the last few years. It’s like buying a car, house, or expensive furniture, most people don’t pay the entire cost up front. Okay bad analogy but you know what I mean. At the end of the day people can choose how to spend their money and be responsible or not.