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[richeyo2]

Originally Posted by Bonehead

yes. I have spent 10+ years without credit or a bank account because FK banks and credit companies. I don't see the point in paying people to use my own money or being raped on interest because I need or want something I cant immediately pay for (such as online purchase where its impossible to hand them cash).

matter of fact if I were not looking to buy a house I would not deal with a bank or credit company and I would enjoy my debt free life.

Debt sucks, & I see no problem using a 60-90 day layaway plan if you want too. It dosen't mean your poor, have bad credit or have bad judgement.
At least two people now agree.
I also will say again if the sign said layaway he should have been able to put the gun in layaway IMO! If he didn't come back for it keep his deposit & sell the gun to someone else...

[Bonehead]

Originally Posted by richeyo2

Debt sucks, & I see no problem using a 60-90 day layaway plan if you want too. It dosen't mean your poor, have bad credit or have bad judgement.
At least two people now agree.
I also will say again if the sign said layaway he should have been able to put the gun in layaway IMO! If he didn't come back for it keep his deposit & sell the gun to someone else...

I don't see how people want to be or are ok with being tets deep in debt. people criticizing people for using layaway but have no issue paying interest. it makes me wonder how deep they are and how much interest they will pay over the course.

[rambro]

Originally Posted by Montourage

I'm pretty sure layaway is for people with bad credit and poor financial habits. Most likely a person looking at layaway as a viable option doesn't have the credit to get a credit card. There really isn't much upside to doing layaway. It's for people that want what they can't afford at the moment and don't trust themselves to save. Precisely the type that have financial problems in life.

Businesses don't mind it when they don't expect an item to sell soon because as I understand it they get to keep the deposit of these desperate people.

well it predates the popularity of credit cards. Credit cards did not really exist untill the diner club card 1950, no one else did it till 1958 (american express, and visa.)

It made sense before credit cards, or store credit (people use to have a card for every store, no such thing as vias or mastercard, amex or discover).

Layaway is a total pain in the arse.

[shootinnc1988]

Originally Posted by richeyo2

Debt sucks, & I see no problem using a 60-90 day layaway plan if you want too. It dosen't mean your poor, have bad credit or have bad judgement.
At least two people now agree.
I also will say again if the sign said layaway he should have been able to put the gun in layaway IMO! If he didn't come back for it keep his deposit & sell the gun to someone else...

Originally Posted by Bonehead

I don't see how people want to be or are ok with being tets deep in debt. people criticizing people for using layaway but have no issue paying interest. it makes me wonder how deep they are and how much interest they will pay over the course.

Thank you guys for seeing my point. Im 24 i had to pay for my tuition out of pocket this year for college so i could graduate"which i did", i do not have no debt, i am establishing credit. i do have a credit card but i choose not to use it becouse i dont whant anny debt hanging over my head. i just whant to stay out of debt. i bet alot of people wished they haddent bought that house that was 250K out of their price range, which they just shot themselfs in the foot.
some of the guys on here dont even need to start on me about money mantagement. if i cant do a $500 gun purchase that can be paid up in less than 90 days, i need to cut my internet off and not be on xd talk.

as for me geting a XDS, i talked to another dealer today that i know personaly and he has put me on the list to be the first one to get one in the bi-tone finish from his shop when they come in, which are shipping this week. also, "wait for it" yes he will do layaway for 90 day with 10% down non refudable if total ballence is not paid up.
so stick that in you pipe and smoke it other dealer and bashers.

I WIN !!!!!!!

[kvo45acp]

Originally Posted by Bonehead

.... it makes me wonder how deep they are and how much interest they will pay over the course.

over a life time . . . . probably a enough to buy a z06 corvette or a pristine Gatling gun

[MFE]

Originally Posted by shootinnc1988

what is a man supose to to when he is short on funds in this tough economy.

I don't know, maybe...maybe wait until its purchase won't put such a strain on your finances? I don't know. Call me crazy.

[Montourage]

Originally Posted by richeyo2

At least I'm not the only one that feels that some of the statements are very judgmental or stereotyping people that they don't know.

LOL I know one person that would layaway things, he also rents his furniture. I don't actually think he owns anything other than his cloths after having a steady job for six years in the Army.

Layaway - Wikipedia, the free encyclopedia

First time I looked this up and it seems I'm not the only one making these observations as it's cited in Wiki as being called "Ghetto financing". It's not that I think EVERYONE that participates is broke or makes poor financial decisions. That would be an over generalization but I think it's clear they are more LIKELY to make poor decisions or have poor credit.

When you give a company 100 to hold your cash in exchange for holding an item you are missing out on the opportunity to earn interest on your money. Keeping your cash in an interest baring account vs giving it to them to keep in an interest baring account doesn't make much sense. Unless you are so desperate for the item you are afraid they will run out in three months. Sure you wont earn a whole lot of money on my $100 example but a penny saved is a penny earned.

Plus if you can't afford say a $500 dollar item now then you probably don't have a three month emergency fund in your bank. Meaning if the car breaks down next month costing $1000 you probably wont be able to pay that layaway note. Depending on the terms you just lost your deposit, not smart financially at all.

[Bonehead]

Originally Posted by kvo45acp

over a life time . . . . probably a enough to buy a z06 corvette or a pristine Gatling gun

scary aint it?

a 30 year loan vs a 15 year loan on a house will save you a ton.

[rambro]

Originally Posted by shootinnc1988

Thank you guys for seeing my point. Im 24 i had to pay for my tuition out of pocket this year for college so i could graduate"which i did", i do not have no debt, i am establishing credit. i do have a credit card but i choose not to use it becouse i dont whant anny debt hanging over my head. i just whant to stay out of debt. i bet alot of people wished they haddent bought that house that was 250K out of their price range, which they just shot themselfs in the foot.
some of the guys on here dont even need to start on me about money mantagement. if i cant do a $500 gun purchase that can be paid up in less than 90 days, i need to cut my internet off and not be on xd talk.

as for me geting a XDS, i talked to another dealer today that i know personaly and he has put me on the list to be the first one to get one in the bi-tone finish from his shop when they come in, which are shipping this week. also, "wait for it" yes he will do layaway for 90 day with 10% down non refudable if total ballence is not paid up.
so stick that in you pipe and smoke it other dealer and bashers.

I WIN !!!!!!!

if you are right fresh out of college, no harm, you should try to save up a few grand cash reserves, even if you live at home or have modest apartment with roomates.

But you are young, and if you have no responsibilities to a kid, ex, etc, blowing your last dime on a gun when you are early 20s is not a big deal.

[Montourage]

Originally Posted by rambro

well it predates the popularity of credit cards. Credit cards did not really exist untill the diner club card 1950, no one else did it till 1958 (american express, and visa.)

It made sense before credit cards, or store credit (people use to have a card for every store, no such thing as vias or mastercard, amex or discover).

Layaway is a total pain in the arse.

yeah I read about that in Wiki as I researched it just now lol seems it came along during the great depression and fell out of favor when credit cards became popular.