Buying a firearm on layaway, how does this work?

12024 Views 28 Replies 18 Participants Last post by Torque77, Sep 21, 2012

nyenthusiast

Discussion Starter · Sep 10, 2012

First of all, please forgive me if this is in the wrong forum. It seemed the most appropriate venue for the question. I've seen a few thread's recently where member's mentioned purchasing rifle's on layaway from certain retailers. I have never paid for a firearm in installment's before, but, I am interested in doing so now. Can anyone reccomend dealers that do this? What kind of time frame/down payment is normally expected? I apolagize if this seem's like a very basic question.

1 - 20 of 29 Posts

Paté

· #2 · Sep 10, 2012

It depends on the dealer, but most are willing to hold the gun an allow you to make payments. I personally would save up the money and just go in and buy it, but understand how having it held would have an advantage especially if the mfg has a price increase.

ColtEd

· #3 · Sep 10, 2012

There is usually a time frame in which to pay in full, i.e. 90 or 120 days. Check the fine print, there may be a penalty
if not paid by the completion of the agreed to time limit.

nyenthusiast

Discussion Starter · #4 · Sep 10, 2012

Normally I agree with you pate, I prefer to buy outright whenever possible. Frankly though, I'm young and just don't always have the disposable income I'd like to. There have been several times I've walked in to shops and seen something unique that's come in on consignment etc. and wished I had the cash. Those are the firearms I'd consider doing this for so they don't walk out the door before I can get the funds up.

E

· #5 · Sep 10, 2012

Layaway is very dangerous...it gets me everytime. I saw that Grabagun is offering to send you the firearm now and you just have to make payment within 90 days. I am assuming that there is a fee involved but depending on the item it may be worth it after all we finance our homes and firearms seem much higher on the priority list.

Paté

· #6 · Sep 10, 2012

nyenthusiast said:
Normally I agree with you pate, I prefer to buy outright whenever possible. Frankly though, I'm young and just don't always have the disposable income I'd like to.

Did you ever consider selling blood to raise the cash? ;D

nyenthusiast

Discussion Starter · #7 · Sep 10, 2012

Depending on the firearm in question, I've considered lot's of things lol.

Captain Will

· #8 · Sep 10, 2012

Layaway works the same as if you save the money yorself, but you dont have access to the money in layaway and in some cases you are compelled to complete the transaction or lose all or part of your money.

My personal opinion is that if you need to take out a mortgage or a car loan, OK. If you user a charge card to purchase a gun, well, OK- maybe you did not have the cash on you or whatever. But if you need "layaway" in order to buy a gun or a TV set or a bookshelf, you really should not buy that thing because you really can't afford it. What happens when you break a tooth or your car insurance goes up and need that $550?

On the list of "wants and Needs", guns may be high on your want list but for most of us, pretty low on the actual needs list- nobody NEEDS rifle number 27 or handgun number 13.

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Yaphank Kid

· #9 · Sep 10, 2012

Captain Will said:
Layaway works the same as if you save the money yorself, but you dont have access to the money in layaway and in some cases you are compelled to complete the transaction or lose all or part of your money.

My personal opinion is that if you need to take out a mortgage or a car loan, OK. If you user a charge card to purchase a gun, well, OK- maybe you did not have the cash on you or whatever. But if you need "layaway" in order to buy a gun or a TV set or a bookshelf, you really should not buy that thing because you really can't afford it. What happens when you break a tooth or your car insurance goes up and need that $550?

On the list of "wants and Needs", guns may be high on your want list but for most of us, pretty low on the actual needs list- nobody NEEDS rifle number 27 or handgun number 13.

I have used layaway many times over the years. After buying a gun with cash-in-hand, how many times have you seen a caliber or old favorite that you always wanted at a great price knowing it won't last long if you don't buy it? Putting it on layaway takes it off the market, pay as you wish, gun shops don't charge interest. Putting it on a charge card only makes you pay more with credit card fees.

Later on, I got one of those dreaded Civil Service jobs with Dental insurance so I always had the extra $550 laying around to buy a gun.

TenInchFryingPan

· #10 · Sep 10, 2012

Yaphank Kid said:
Putting it on a charge card only makes you pay more with credit card fees.

This may be the case if you don't know how to use a credit card.

Using myself as an example... I use credit cards almost exclusively, especially when I have the cash on hand. The key parts are to pick the right card (rewards points, airline miles, cash-back, etc) and then pay the balance right away (usually within one billing cycle) using the cash you have.

There's typically no interest charge if you pay the balance right away, and the purchased item ends up being "discounted" by the amount of the reward you receive by using the card.

If you know how to manage debt responsibly, many credit cards are very beneficial.

(OK, back on topic. Layaway Blows. Sorry!)

nightday

· #11 · Sep 10, 2012

Captain Will said:
Layaway works the same as if you save the money yorself, but you dont have access to the money in layaway and in some cases you are compelled to complete the transaction or lose all or part of your money.

My personal opinion is that if you need to take out a mortgage or a car loan, OK. If you user a charge card to purchase a gun, well, OK- maybe you did not have the cash on you or whatever. But if you need "layaway" in order to buy a gun or a TV set or a bookshelf, you really should not buy that thing because you really can't afford it. What happens when you break a tooth or your car insurance goes up and need that $550?

On the list of "wants and Needs", guns may be high on your want list but for most of us, pretty low on the actual needs list- nobody NEEDS rifle number 27 or handgun number 13.

I agree with you 100%. I can see putting a deposit down on a firearm so that no one else can purchase it, but paying the balance Within the week to take ownership. I won't buy unless I have the cash.

FULL METAL JACKET

· #12 · Sep 10, 2012

This thread is making me want to layaway a couple new toys

CJ

· #13 · Sep 10, 2012

When I was waiting for my pistol license, I went into some gun shops and asked if I could leave money every week for a particular gun. Some said no, others said yes. I ended up buying my Glock 30 on lay-a-way. I gave Hunter Sports $25 bucks every week or so and I had the gun paid off 2 weeks before my license arrived. Just go into a shop and ask how they do it.

airbrushart

· #14 · Sep 10, 2012

There are dealers on gunbroker.com who offer lay a way plans, most if not all have a time limit when it must be paid in full. As stated read the fine print one thing I've seen is if you don't pay in the alotted time you lose all your money. Also check to see if there is a fee for paying ahead of time, most don't do it but read first. On gunbroker.com just type in layaway and currently there are 600 listings as of 5:05pm today. I think as Pate mentioned save up and buy and walk out with it.

T.Webb

· #15 · Sep 10, 2012

Nothing wrong with lay away, but let's not be unfair about it.

If it's the gun store's gun, it's either already paid for, or payment is due in a few weeks.

If it's a consignment gun, the owner wants HIS money sooner rather than later.

So, unless it's a brand new gun that's easy to order in, kindly put down at least 1/3 to 1/2 and pay the gun off quickly.

My $.02

nightday

· #16 · Sep 10, 2012

Let's go shopping. Not that I need more, I just want more and more. Can never have enough.

FULL METAL JACKET said:
This thread is making me want to layaway a couple new toys

Yaphank Kid

· #17 · Sep 10, 2012

TenInchFryingPan said:
This may be the case if you don't know how to use a credit card.

Using myself as an example... I use credit cards almost exclusively, especially when I have the cash on hand. The key parts are to pick the right card (rewards points, airline miles, cash-back, etc) and then pay the balance right away (usually within one billing cycle) using the cash you have.

There's typically no interest charge if you pay the balance right away, and the purchased item ends up being "discounted" by the amount of the reward you receive by using the card.

If you know how to manage debt responsibly, many credit cards are very beneficial.

(OK, back on topic. Layaway Blows. Sorry!)

What I meant by fees is that some shops charge you more for using a credit card. It didn't read that way.

artburg

· #18 · Sep 10, 2012

Pate said:
Did you ever consider selling blood to raise the cash? ;D

Sperm pays better

OH UNCLE PAUL

· #19 · Sep 10, 2012

artburg said:
Sperm pays better

Plus it's a lot more fun.

T.Webb

· #20 · Sep 10, 2012

I can't even give away my sperm.

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