Bud's Gun Shop thievery

[Kman]

To all my fellow Outdoors Trader friends,

Today I received an email from Bud's Gun Shop so I checked out the website.
On the website it presents what seems to be a way to purchase a gun or rifle on a layaway program with payments as low as 50.00 a month.

Upon first glance it would get your attention, and you would think, cool, I'll pay for something little by little get the item of choice after a while and everything will be cool.

But what they are doing is using a finance company, which in effect is buying the gun for you as you pay them back, at what rate you ask?

Good question, the rate is 35% which means for every 50.00 you pay 17.50 in interest charges.
So if you buy a 1000.00 item, you will be paying 350.00 in interest.

Bud's Gun Shop is ripping people off, I could understand, 9-13%, but 35%.

Hickock 45 speaks fondly of Bud's, but perhaps he's unaware of this shameful charge Bud's is putting on its customers.

DAMN

If you have to finance something that isn't a need, you don't need it!!!!!!!

 

[RiverBend]

Honestly, I have never "financed" a gun, never even knew you could, still wouldn't just more records of the purchase and ya pay them to keep and make em available to any alphabet boy wanting to looky.

 

[UptaCamp]

If you can’t afford it don’t buy it , solved

 

[bbqman]

Just buy it...problem solved.

 

[Big Belly J]

I’ve used buds a few times and i was happy

but I stress I just bought the gun

zero layaway

 

[gamadmex4502]

35% interest rate on firearm purchases is akin to payday loans, car title loans, and loan sharking in general. Playing the devil's advocate, Bud's Gun Shop is in a difficult spot. Remember when so many financing organizations, banks primarily, turned sour on the firearms industry? So there are not too many reasonable, for their customers, choices open to Bud's. Basically, there is a choice between self-financing (great option IMO during Trump, very risky under Shoeless Joe) and using a 3rd-party financer that charges whatever it wants.

And ultimately it is up to the consumer to actually know what it is that he/she is agreeing to in terms of financing, no different from buying a home or a car or other major purchase without cash. If you either do not know what you are really signing or do not like the terms, then walk away. It's that simple.

I should add that in the past I have used Bud's layaway plan. But at that time you had 90 days to complete the purchase, if memory serves. So it was not so much a layaway as it was a deposit.

 

[OttoMan]

If you can’t afford it don’t buy it , solved

THAT’S It

 

[palmettomoon]

If you can’t afford it don’t buy it , solved

Interesting philosophy.....

Also consider the strategy of NOT BEING POOR!

 

[OttoMan]

To those looking for some financing, as OP was, here it is some info straight from Bud’s(6 months no interests)

 

[JNelson04]

Is that like a sponsorship?
Should he do it for free?

I assume so. I don't care if he makes money from it or not, that's not my beef with him.