Any Experience With Payment Plans?

[VacantPlanet]

I'll also vouch for Zzounds payment plan. That's how I was able to get my HD500 when I was working a shit job a couple of months back. They're super easy to deal with, and where I paid it off in time, they actually gave me deal one other gear by offering 12 month plans on a lot of stuff, which I may soon cash in.

 

[Mike]

zzounds/ams/sweetwater/etc. payment plans are great and make expensive gear affordable. They do however show up as an inquiry into your credit (for anyone who says they don't check credit, why do they ask for a social?) . Though credit is not directly involved and anyone seldom gets denied for the pay as you play plans (that's a tongue twister), they still check to see that you haven't defaulted on a bunch of loans and such. I'm not a super credit expert but when you have a credit check done it does take off some points temporarily and because it's not something you are financing in a traditional manner (i.e. a loan or a credit card) making payments on the payment plans does not build your credit.

edit: To clarify my does not build credit statement so people don't jump all over me, I'll use this scenario:

Payment Plan Credit Inquiry -> Approved -> Payment Source = Bank/Debit Card/Check = No credit boost from payments being made
Car Loan Credit Inquiry -> Approved -> Payment Source = Bank/Debit Card/Check = Credit Boost Yay!!

 

[Wings of Obsidian]

Bill Me Later hasn't done me dirty yet and I use them for most of my bigger purchases. I usually get 6-12 months with no interest depending on the purchase, but it's great if you don't have a big wad of cash lying around. I used them 2 months ago when my laptop shit the bed, so now I'm paying them a couple hundred a month for 6 months and I got a brand new beast of a laptop.

No interest you've had to pay? Or extra money? Or extra fees?

Here is my problem: the reason I am asking about this in my original post is because I have never done such a thing, right? What if I have no credit? I have always paid total for everything upfront in cash (or check/debit) my whole life. So what if I have no credit or never had the need for it until now?

 

[ArtDecade]

If you can't put the cash on the barrel, wait until you can.

 

[Wings of Obsidian]

If you can't put the cash on the barrel, wait until you can.

Normally, I would agree. ^ But check my original post, bro. I got some really big bills incoming that are going to hinder my savings for the next two or three months. Now, I ALMOST have enough straight cash saved up to go and buy a Kemper or Axe-Fx unit...however...with these bills, man. (Medical shit...)

Here is the problem, my band is going to be heading off soon. So that is why I need the gear relatively soon, which is why I am asking this question. You get it?

 

[GizmoGardens]

Here is my problem: the reason I am asking about this in my original post is because I have never such a thing, right? What if I have no credit? I have always paid total for everything upfront in cash (or check/debit) my whole life. So what if I have no credit or never had the need for it until now?

Not sure, do you have a paypal account? I don't think I ever submitted any kind of credit information to them. I do have excellent credit, especially given my age, but I don't remember applying for a credit line through BML... It was kind of just there. You could always contact them directly and see if you're eligible.

 

[Wings of Obsidian]

Not sure, do you have a paypal account? I don't think I ever submitted any kind of credit information to them. I do have excellent credit, especially given my age, but I don't remember applying for a credit line through BML... It was kind of just there. You could always contact them directly and see if you're eligible.

^ This really doesn't answer anything for me, man. I'm asking about how they operate, interest, how Bill Me Later works, etc. (Paypal always finds a way to make money off you...they have to have a way...ridiculous interest perhaps?)

Celticelk threw something into perspective for me...

 

[darren]

Always, always, always read the fine print!

 

[GizmoGardens]

^ This really doesn't answer anything for me, man. I'm asking about how they operate, interest, how Bill Me Later works, etc. (Paypal always finds a way to make money off you...they have to have a way...ridiculous interest perhaps?)

Celticelk threw something into perspective for me...

Well then I'd refer you back to my original post.

Depending on the purchase, they usually offer 6-12 months of interest free financing, like I said. You pay absolutely no interest if you pay it off within that time period, but if you don't, you'll pay around 20% APR (which isn't too far off of a typical credit card... I have two credit cards with APRs that are 13% and 20%). That's all there is to it, you pay it off on time and you don't pay a penny on top of the price of the item. And, like I said in my second post, I'm not sure how you acquire that line of credit. I don't think I submitted any kind of credit application or anything like that, so you'd have to look into that.

Once you do have a BML "line of credit" (not sure if that's really what it is), you just use it. When you're checking out via PayPal, you choose Bill Me Later as your payment method. BML pays for the item, you pay them monthly through PayPal.

I think it's great and it hasn't failed me yet.

EDIT: https://www.billmelater.com/help/index.xhtml - Looks like you can sign up through your PayPal account and there is some type of approval required.

 

[Wings of Obsidian]

Well then I'd refer you back to my original post.

Depending on the purchase, they usually offer 6-12 months of interest free financing, like I said. You pay absolutely no interest if you pay it off within that time period, but if you don't, you'll pay around 20% APR (which isn't too far off of a typical credit card... I have two credit cards with APRs that are 13% and 20%). That's all there is to it, you pay it off on time and you don't pay a penny on top of the price of the item. And, like I said in my second post, I'm not sure how you acquire that line of credit. I don't think I submitted any kind of credit application or anything like that, so you'd have to look into that.

Once you do have a BML "line of credit" (not sure if that's really what it is), you just use it. When you're checking out via PayPal, you choose Bill Me Later as your payment method. BML pays for the item, you pay them monthly through PayPal.

I think it's great and it hasn't failed me yet.

AHHH! Got it now! Thanks for the more in-depth explanation, mate!

 

[meambobbo]

Mr. Wings, I PM'ed you this a minute ago, but wanted to publicly post it for everyone to see. Even if you get one of the worst credit card rates possible at 25%, if you pay off a big chunk up front, then the interest isn't as high as you might think. As your balance shrinks, so does the interest accued.

For a $2200 Axe II, if you charge it to a card with 25% interest, pay $800 the first month, then pay $250 for 6 more months, you'll have it paid off in 7 months, and will have spent just over $2300 total. Lower rates and larger payments would make the amount paid in interest even smaller.

 

[Wings of Obsidian]

(*sings*) Laoooove it! ^

 

[Wings of Obsidian]

Thanks to everyone who has contributed thus far. I am thinking that I might go towards an Axe-Fx II, as opposed to a Kemper. Sadly, nowhere offers payment plans on an Axe-Fx unit...so it looks like I will be using one of few options. 1.) Bill Me Later on Ebay 2.) personal bank loan if I can get info 3.) potential credit card and follow meambobbo's advice (even though I HATE credit cards, never plan on getting or using one, and I don't want to be a fool and contribute to this nation's ever-expanding infinite debt).

 

[Rick]

I've used the American Musical payment plan a bunch of times. It's completely seamless process.

 

[SnowfaLL]

not to be a debbie downer (although so many people like to do it to my ideas here) but I would think twice about a huge purchase like an AxeFX II when you have major bills coming up; in the end, you are not really gaining too much in the difference in cost from a Pod HD500 or Zoom G3 to the AxeFX II, not worth taking out a line of credit for. The HD500 or Pod HD Pro will get you 90% of the way there, the big boys like the Kemper/AxeFX are just for that final little piece, and if you are playing live, its very unlikely anyone in the crowd would even notice a difference.

I had the Pod's for years, and only bought the Kemper and AxeFX II this year because I have money and no bills.. but I wouldnt say it absolutely blew me away; it is what it is and if I was back to being broke and barely paying my rent each month like I was in 2010, I would easily go back to the HD500 anyday. I've even thought about going to the Blackstar ID series now, just because I don't enjoy having ~$4000 tied up into a rig like I do right now (Axe II, powered monitors, LFjr+, etc) - honestly the hype is annoying, because the HD500 and G3 are not just "toys"; there are professional bands out there using them at stadium shows to great effect. Don't think you REQUIRE any super expensive piece of gear just to get a decent tone on stage.

I just think you should scale down, especially if its purpose is just playing live. The new technology in Modelling is very good, even if the Pod HD and Zoom G3 is acouple years old. Any of them tweaked properly can produce results. Alternately, a Kemper or AxeFX II tweaked poorly will still sound like shit =]

 

[Wings of Obsidian]

not to be a debbie downer (although so many people like to do it to my ideas here) but I would think twice about a huge purchase like an AxeFX II when you have major bills coming up; in the end, you are not really gaining too much in the difference in cost from a Pod HD500 or Zoom G3 to the AxeFX II, not worth taking out a line of credit for. The HD500 or Pod HD Pro will get you 90% of the way there, the big boys like the Kemper/AxeFX are just for that final little piece, and if you are playing live, its very unlikely anyone in the crowd would even notice a difference.

I had the Pod's for years, and only bought the Kemper and AxeFX II this year because I have money and no bills.. but I wouldnt say it absolutely blew me away; it is what it is and if I was back to being broke and barely paying my rent each month like I was in 2010, I would easily go back to the HD500 anyday. I've even thought about going to the Blackstar ID series now, just because I don't enjoy having ~$4000 tied up into a rig like I do right now (Axe II, powered monitors, LFjr+, etc) - honestly the hype is annoying, because the HD500 and G3 are not just "toys"; there are professional bands out there using them at stadium shows to great effect. Don't think you REQUIRE any super expensive piece of gear just to get a decent tone on stage.

I just think you should scale down, especially if its purpose is just playing live. The new technology in Modelling is very good, even if the Pod HD and Zoom G3 is acouple years old. Any of them tweaked properly can produce results. Alternately, a Kemper or AxeFX II tweaked poorly will still sound like shit =]

1.) You present very good points.

2.) The unit will be for LIVE and STUDIO (recording).

3.) I've just grown to dislike my POD HD500 majorly lately and have become disappointed by it. (I can get better tone out a free VST amp sim and free cab impulses than with the POD HD500.) Also, I have been having a VERY hard time getting a good tone live and the sound engineers hate me because I have to take all the time to dial and adjust my tones to match the different PA systems at the different venues. I just want something "better". (As do we all? And many will agree that the Axe-Fx or Kemper are both "better". Night-and-day difference kind of better. Life-changing even to some people.)

4.) Please refer back to my original post (as many should do anyway), along with my previous answers and you'll note that I have majority of the money for the unit saved up (about 75%); however, my incoming bills and shit are going to hinder my savings for awhile. I will still be financially secure, pay rent, insurance, etc. But I just won't have any side cash leftover to stash away in the "better gear fund" ya know? So I was seeing if there was anyway that I could get a payment plan a pay a little (or a lot) now and the rest later/overtime (meaning after the next 2-4 months when this shitstorm ends). Normally, I would just take the "smart" path and wait and continue saving, but I can't afford to wait 2-4 months to continue saving because my bands hits the road in a few weeks! (See my predicament? I have explained it already in a previous post.)

 

[SnowfaLL]

I dunno; I honestly think the people who say the AxeFX or Kemper are "life-changing" or "night-and-day" differences are people who never owned a Pod HD, prefer bashing the brand, or just never used anything but the stock presets (which the AxeFX II presets were terrible as well up until FW 11, unusable in FW 10) - Try to find someone to play thru their AxeFX II before you buy to see if its really worth it to you. Its better, but not $2000 better.

If you play one or two tones mainly, why not consider a tube amp? Usually much easier to dial in live (imo) and theres micro amps nowadays which make transport very easy. I also almost bought the Carvin Legacy 3 and probably would of over the AxeFX II if I was actually gigging still. Very versatile mini-amp.

 

[Wings of Obsidian]

I dunno; I honestly think the people who say the AxeFX or Kemper are "life-changing" or "night-and-day" differences are people who never owned a Pod HD, prefer bashing the brand, or just never used anything but the stock presets (which the AxeFX II presets were terrible as well up until FW 11, unusable in FW 10) - Try to find someone to play thru their AxeFX II before you buy to see if its really worth it to you. Its better, but not $2000 better.

If you play one or two tones mainly, why not consider a tube amp? Usually much easier to dial in live (imo) and theres micro amps nowadays which make transport very easy. I also almost bought the Carvin Legacy 3 and probably would of over the AxeFX II if I was actually gigging still. Very versatile mini-amp.

So then back to the argument/debate...what about just getting a Kemper? xD (But then I might as well pay the extra $200 - $300 and get an Axe-II.)

 

[SnowfaLL]

So then back to the argument/debate...what about just getting a Kemper? xD (But then I might as well pay the extra $200 - $300 and get an Axe-II.)

well my point was, you can find some sweet sounding tube amps for less than $800.. a Kemper is still high up there in price

But its your money, and I get the whole notion of not being 100% satisfied until you finally have an AxeFX in your hands.. Until then, you'll always be wondering. Im glad I have that out of the way, but I probably wont sell it cause I'd lose too much money from it, but its definitely overkill IMO

 

[Wings of Obsidian]

well my point was, you can find some sweet sounding tube amps for less than $800.. a Kemper is still high up there in price

But its your money, and I get the whole notion of not being 100% satisfied until you finally have an AxeFX in your hands.. Until then, you'll always be wondering. Im glad I have that out of the way, but I probably wont sell it cause I'd lose too much money from it, but its definitely overkill IMO

What I might do is try to see if I can find a way to run my laptop as my rig since I am finding better tones using free VST plugins and amp impulses that I am with my POD HD500. (Plug guitar in through an interface, and from there link it to the venues direct-in and find a way to control it. Maybe do patch changes or VST loading or something). Definitely a cheaper option. ^.^