Finance on hunting gear

cz527

Anyone out there buy stuf for hunting on this finance that gun shops are using.im looking to buy a good par of binos and thinking of going that way

aaakev

What kimd of rate and term ya looking at?

Doctors room ghost

You’d be better off with a credit union loan at a low interest rate and buy them outright day one then be paying them off.

aaakev

Doctors room ghost wrote: »

You’d be better off with a credit union loan at a low interest rate and buy them outright day one then be paying them off.

Really depends on the rate and term. Cc loans are not cheap

cz527

One gun shop is 11.5 and to others are 9.6

aaakev

Pretty expensive to be fair, cc could well work out cheaper, especially if only over 12 months

cz527

Wel i told myself if i was going to take out money id buy a par of range finding binos but is it worth it spending that much money and having to take a year or to to pay it back

aaakev

How much are the binos? If it was me id just save up. Nothing cheaper than your own money

The pigeon man

As someone who studies finance I would advise staying away from these kind of loans. The annual percentage rate (APR) is usually very high.

When it comes to evaluating whether or not to get loan you should think of the following;

What is the potential benefit of the item you're financing?

Could you save up for the item and purchase it with your own money instead?

What is the APR of the loan? (For example if you get a loan of €1000 for binos at an Apr of 9.6%, for three years, you will end up repaying a total of €1,155. The cost of credit is €155. Also you will probably get them cheaper at their cash price).

I hope that helps you in your decision. I personally try avoid loans as much as possible, because I all think we already have enough monthly bills

cz527

The binos are 1300 euro.and when you do sit down and look at what is going out every month id think twice tanks for the advice

Wadi14

do you have a range finder or bino's at present. might work out cheaper to buy either at a price you can afford.

cz527

I have a range finder but no binos

clivej

cz527 wrote: »

I have a range finder but no binos

Same here but I have a pair of good Bushnell bins.
It's surprising how little I use the range finder when I have my rifle zero how I like to shoot. My stalking rifle is set at 200y so anything out to 250 is on target (ish).

Then you have to mind your new expensive bins all the time.

pm.

If you can't afford to buy it do without, no way would I let myself get into debt or pay the high interest rates. But that's just me......

TBH I always keep an eye here and adverts, plenty of bargin to be got. Buy wisely and save yourself a fortune. A lot of the lads here really look after there gear

cz527

Very true.but a good par of binos would cost a good few bob so would a second hand set of range finding binos be clos to the price

aaakev

I picked up a pair of Minox bl 10x44 HD for less than €300 last year. Came with the original box and all the contents like new. No need to spend thousands on binos if ya don't have it right now

pm.

Old but excellent glass https://www.donedeal.ie/view/20785794

ezra_

A quick google puts the Bank of Ireland personal loan (this is one that is unsecured and basically what you get when you go in looking to borrow something that isn't secured like a car or a house) starting at 6.8%

For 1300 over 12 months you are looking at c. €112 p/m, so your cost of credit would be €50.

If this is within your budget and you want the glass, then think about it. Try some of the main street banks first - they offer better rates than the CUs but if you have a patchy credit history you won't get that rate.

dc99

If you really must have them - then a Credit union is deffo the way to go- even a couple of months regular saving and you could get that money on loan. If your not in one already - look around locally they always want new business (savers) and some times give preferentially cheaper loan rates to new members.

cz527

After looking around and found a par of minox that will do for a few year and they small money to