Who here buys new saws on a layaway plan?

[Chris J.]

I've never purchased a new saw, and I've never purchased a saw on layway. Saving-up $$ to negotiate a cash deal is great, but some folks can't sock away $$ without being tempted to spend it on something else. With CAD, it took me a while to learn to pass on some saws, even good deals, if I was looking for specific saws.

When I was a youngster (now in my early fifties), my mother nearly always purchased our school clothes on layaway. She didn't need the keep-paying-or-lose-it incentive, she was smart enough to know that my father would be tempted by "spare" money.

 

[Whitespider]

This reminds me of a similar argument I had with someone lately. ...about taxes... whether to underpay or overpay. ...I always try to owe the government a little at the end... I would rather have that money in my account (earning interest) than to front it to the government.

That's how I do it. Makes no sense to allow someone to use your money without a return.
Heck, even a quarter percent in a standard savings or checking account is better than nothing.
And if you could use that money the government would otherwise be "holding" for you, to make a couple extra payments on the home loan during the year, you're way, way, way ahead.
Ya' just gotta' remember, money is simply a way of keeping "score" in the economy/society game, and you wouldn't give your opponent free points in any other game... would ya'?

 

[computeruser]

Luckily I'm not big into new saws, so even if they had this it probably wouldn't be too tempting. But if they had layaway on trade-ins or rebuilt older saws...that might be interesting.

 

[Jess562xp]

I agree 100%.For me the waiting to actually own something is the thrill,and then you actually get it and its kinda dissapointing.

Or worse yet you get high buyers remorse. The "oh man do I really need this?" "I should have bought this or 10 of those instead" "When the warden finds out, I'm on solitary confinement!" and it goes on and on in my head...

 

[RAMROD48]

Some people cant see a beer without drinking it...

Some people cant see crime without reporting it...

Some people cant see a problem without solving it...

and

Some people cant have a penny without spending it...

Everyone has something that they cant do....

Some people cant save money to reach a goal on their own...

I buy guns and archery supplies on the pay to own method, because I cant come up with a good excuse for the wife on why my account is debeted to the tune of $1000 a pop...:msp_biggrin:

 

[justtools]

Some people cant see a beer without drinking it...

Some people cant see crime without reporting it...

Some people cant see a problem without solving it...

and

Some people cant have a penny without spending it...

Everyone has something that they cant do....

Some people cant save money to reach a goal on their own...

I buy guns and archery supplies on the pay to own method, because I cant come up with a good excuse for the wife on why my account is debeted to the tune of $1000 a pop...:msp_biggrin:

I know people who make 1 dollar and spend 2 dollars. Their moto is if your not in debt you are not living. Any of you guys have wifes that fit this?

 

[RAMROD48]

I know people who make 1 dollar and spend 2 dollars. Their moto is if your not in debt you are not living. Any of you guys have wifes that fit this?

:msp_sad: yes....

 

[CR500]

That's how I payed for my new saw, I would put like $250 every other week because I was waiting for the 461 to be a CM, but I decided to pull the trigger on the 441 CM I told the dealer " order it and I will pay the rest when I pick it up."

 

[TK]

I take payments at my shop. That's just the way some people work. I see some come in month after month talking about a saw they want or tractor or blower or.... Or....

The ones who make payments end up with the things they want one after the other. That's just how some people work. It's all good as long as it works for you.

I've turned people down from that method though, if I feel as though it's a bad choice for them and as a side effect of that, me. Call me a bad person but I won't indebt someone who I personally feel can't handle it or shouldn't undergo it.

 

[madhatte]

I've never done layaway... but that's mainly because it's never occurred to me. I suppose it's better than credit. Lord knows I've done that a few times. Like many others, I prefer to pay cash in full whenever possible.

 

[rob066]

All the posts on this thread are true. I think when you get a little older/ have a few more bucks just paying cash outright is the way alot of guys like to go. When money is tight the layaway plan works best for things you need. You know you are putting money towards something you really want or need. This may stop you from spending the extra cash on something not so important. Layaway is way better as a teaching tool for life. Most people today use a credit card that never gets paid off. They want whatever now and they are always broke paying the interest. If I was a shop owner I would gladly accept layaways. I think it would build great relationships with my customers.

The dealers who did except payments from me have my great respect and my business. I havent bought a new saw for a while. But when I did buy them on payments I built a collection of saws that are revenue makers for me today. That to me is money well spent. My job status has changed and had an unplanned third child has stopped me from buying new saws. But If I do need to buy another one I know the payment option exists. Especially when money is tight.

 

[mattaggie]

Its hard to critique debt when it has basically made America what it is today, both good and bad. Most successful companies got that way by leveraging debt, and continue to carry large debt on their balance sheets. I personally would have a hard time buying a chainsaw on credit (though I realize layaway is a bit different). Taking on debt is risky. For many people it turns out fine and they pay it off. But if you are putting yourself in a vulnerable position. I hate to sound like a jerk here, but if you dont have $1000 in the bank (or however much the new saw costs), then you need to make some changes. Either your job isnt paying enough, or you are spending beyond your means. I dont think there is a right or wrong answer as to whether or not Credit cards or layaway is a good thing, it all depends on the person and the situation. But I think it should force us to the more important question of why a person doesn't have the savings to pay cash.