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neophyte16 neophyte16
11/14/2015 8:13 PM

Has anyone tried BillMeLater feature on danscomp and albes? how does it work?

You say BMX is your life but you barely ride.
BUT hey, That's none of my business.

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xXZ4KOXx xXZ4KOXx
11/14/2015 8:30 PM

No I haven't. Sounds like credit tho, seems like an ok deal except there's a fee for borrowing. I.e. You borrow 125k and plan to pay over 25 years, the bank will loan it to you but they want 25% when all is said and done. So I believe you would be paying around 31k in interest, but this is evenly split over 25 years of payments. Idk man credit is tricky, honestly I would talk with a lawyer. Credit can be great allowing you to buy a car or a house for just pocket change a month, but there are certain types of loans that can't be negotiated even if you file bankruptcy.

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biggybuggy biggybuggy
11/14/2015 8:35 PM

Financing bike parts?

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xXZ4KOXx xXZ4KOXx
11/14/2015 8:47 PM
biggybuggy wrote:

Financing bike parts?

Never done it, I have a sister who financed lots of shit but eventually could not** keep up. She needed a new and more reliable car, sure she got a loan but with a shit interest rate. She's managed to dig herself out of a financing hole, but not all people are so lucky. My moms makes more than 100k a year and was offered 60k in financial aid reimbursement, but only if she made the payments on her financial aid for one year, she's had the loans deferred for some time now and could not make the payment. She's gonna miss out on 60k because she borrowed too much in the first place. Don't listen to me tho I've never financed a thing, I've seen problems with loans tho and don't recommend borrowing unless you need too.

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grumpySteve grumpySteve
11/14/2015 11:50 PM

Check the interest rate and terms and conditions. Depending on your personal situation it could be worth it if you're desperate for a new part. I'm sure shops like that wouldn't get involved in anything that would con their customer's. 10% is average over here for bikes and parts, or even 0% if it's paid within a year. If you buy something for £100 at a 10% interest rate, you pay back 110, spread out over how ever many months you agree on.
I've bought stuff on finance, and taken out loans in the past and I wouldn't recommend it unless you're 100% you can keep up with payments



Actually, I just had a look. It's through PayPal, and only up to the value of $99. You don't pay interest if it's paid in 6 months. Which is $16.50 per month. If you have a regular income, that's really good. Otherwise you'd be better off saving really

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neophyte16 neophyte16
11/15/2015 5:49 PM

Thanks guys! I have some money to spend but it aint enough for the parts I wanted. I was just thinking if that would be good choice to get the parts earlier. Conversion Rate of paypal is kinda high too.

You say BMX is your life but you barely ride.
BUT hey, That's none of my business.

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dave lawrence dave lawrence
11/16/2015 5:55 AM

As far as loans go, try putting away what your payment would be each month to see if you can live without it. If you can, get what you wanted. If you can't, don't.

As far as home loans etc go, many places are on par with rent at other places, so if you want to stay where you are for a longer time, buy instead of rent, because then you can build equity and keep it when the loan is paid off.

You are going to need to take a few loans here or there out, unless you luck out into a pile of money OR never buy a home, but renting basically means you pay someone else's mortgage to live there and get nothing from it.

"Hey anybody ever make that mistake like right when you wake up in the morning and you believe in yourself?" -Kyle Kinane

"BIKES!" -Tom Segura

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Collin_McClenahan Collin_McClenahan
11/16/2015 11:41 AM

One thing a lot of young people don't really think about is building they're credit. Doing things like financing small stuff that you can easily pay back is a good way to build credit. For instance, when I went off to college, I got a credit card to buy gas with. While I could pay with cash and not have to worry about a monthly bill, doing this helps me build up my credit so later in life if I go apply for a car/house/whatever loan, I'll be more likely to get a better deal because I'll have good credit. Financing bike parts may be a good way for you to start building your credit.

"Let it be heard: FOUR IS BACK MUH FUCKAZ"
Refs: Mobking, four, tomdon, Sickdude, xxOhioanxx onetrykid Krisner BMX
FBM Pizza Beer Roast Machine

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xXZ4KOXx xXZ4KOXx
11/16/2015 11:49 AM
Collin_McClenahan wrote:

One thing a lot of young ...more

Good point I think I've heard having no credit is like having bad credit.

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