Is a Good Les Paul worth debt?

[watchtheskies]

Ydna, are you willing to go without a social life for the next three months and not spend any money apart from gas money?

if it was me, I would get an extra weekend/evening job to earn more money, work my ass off, save every penny I made for as long as it took to get the money, then pay cash, and you usually can get a discount on the purchase price for cash,

then you're done, you have the guitar and also no debt

 

[John 14:6]

I would say no, but if it were a Fender Stratocaster then that would be a different story.

[ame="http://www.youtube.com/watch?v=tfWXnLXYZvE"]‪Stranger Than Fiction: Guitar Store‬‏ - YouTube[/ame]

 

[V-man]

I have a '92 Rhoads LTD Tribute as original owner by virtue of layaway... ask me if I regret having that today for <$1,500 on my terms.

If you can make the note and freezing 5k in assets over a guitar is worth it to you, than go for it. I Would be of a different opinion if that was "real debt" (credit card).

 

[SmokeyDopey]

On the other hand you're not paying bills yet..
When I lived with my parents I spent all my paycheck money on music equipment. I'm very glad I did because there are things that I have today that I wouldn't be able to buy, so if you really want it... I don't know, keep on playing it.


Hell, I don't even have a washing machine, I still wash my clothes by hand. My equipment is priority! (After I pay rent and the bills of course)
I want some V30's and we have to pay a few grands to record in September, so still saving money.

 

[bluesymetal]

I have good credit so I got approved for like 18 months no interest when I bought my G0, I got it 2700 out the door I believe. Put some money from a PRS I sold down and paid off the rest at like 75/ month, which I knew I could handle. It was financially easier for me to do that then drop almost 3k all at once. Got the LP all paid off in the time I had prior to interest and it's happily been my number 1 for 4 years now. I was looking for a good LP for sometime prior to getting this one and played about 50, so I knew this one was "the one.". By how great it plays and sounds. Bottom line is if your financially responsible you might as well go for it if it really does play and sound that good to you. If not save your money while u go out testing 50 more les pauls and buy it on the spot with the cash u saved.

 

[poeman33]

A good guitar that speaks to you can stay with you a lifetime. If you can afford the payments, I don't see any reason not to commit to months of payment for something that you may have a lifetime. We all need to enjoy life. If all anyone ever used credit for was education and mortgages...well...how enjoyable would life be? If you can't afford it, then no, don't get it. But if you can manage it...my vote is to get it.

 

[zslane]

If you can afford the payments, I don't see any reason not to commit to months of payment for something that you may have a lifetime.

And therein lies the rub. Our national economic mess is largely the result of Americans who have no clue how to manage their finances. I didn't buy my first Les Paul until I was old enough (31, to be exact) to have the funds to buy it outright. Credit should be used to help you make your money work for you[*], not to help you spend beyond your means.

[*] Credit is one of the cornerstones of wealth-building, but this principle is usually only practicable by adults with meaningful incomes.

 

[j2112c]

So, I've been loving Les Pauls for awhile now. Found a Traditional Plus with sweet flame, sound, and feel. I work a minimum wage job. I could put the guitar on layaway, and pay it off in like, 6-10 months depending on a few things.

I played it for atleast an hour and a half the first time, and played it even more recently. It only gets better. I have an SG and a strat. I refuse to trade in gear, I'm too attached.

So, what is your guys' opinion. I'm going back this Friday to try it out, and then I will make my choice.

What do you guys think?

This bit is lethal!


Mate, if you are prepared to work for the guitar rather than your parents buying for you, (though do not be dumb... ask for a contribution to it!!)... if you are happy to work with the money going to an item (remember work can become insanely hard when the money is going to a pay off of a debt) then why not? All credit to you for working your arse off for a guitar.

Also at your age as Poeman says, you are liable to find a guitar you will use and play for keeps... it could be a lifer. Afterall, though I have a lot of guitars now, but between 17 (like you I worked my arse off) and 31 I only had and played one guitar a humble Charvel Model 1a!!!


Just make sure it really is the one for you as it a long time working for.


Also on the point Adwex made, I agree... there is even a thread for the ones that got away... at 24 years I 'should' have bought a Kramer NightSwan that would have lasted me a lifetime and would now be worth more than I could have bought for... lesson learned.

Let us know if you take the jump and.... of course...

 

[GIBSON67]

Good points made for and against but really buy it before you have too mnay bills and a wife and kids and etc...

I bought my Gibson when I was 22 and still have it, today. She has survived one bad marriage, 2 kids, another marriage in progress and now grandkids.

 

[richieG]

I personally think you should never ever ever finance consumer items.

My day job is in micro finance and I see soooooooooo many people in trouble because they can't control themselves.

You can A) Fuck your financial life B) Fuck your credit rating C) come to resent the things you purchased.

Reading your post I am guessing you live with your parents or a relative??

Man, don't start the debt habit now. And don't get a credit card. Don't become one of the poor slobs who finance companies love.

Save your cash instead, look around for a good second hand one and you will be in a position to offer a good price. You will have one in less time than paying off the other one and own it and probably appreciate more as you saved for it.

***EDIT***

I meant to say......Good for you for asking rather than just getting it and posting NGD.

It's tough....guitars are an emotional subject for the likes of all of us.

 

[Georgiatec]

I think we all need to make the mistake of buying something on credit when we are young. It reminds us as we get older NEVER to do it again....A nice LP is as good a reason for you to make the same mistake the rest of us made. Then you'll start thinking This LP would sound killer through a 1959HW....and it was so easy getting credit for the guitar.

If you are sure you can afford it, go for it. You will have something really good to keep you occupied now you can no longer afford to go out.

PS...Don't listen to me, I'm a punter

 

[watchtheskies]

We need to FEEL the PAIN of handing over our hard earned cash, because as convenient as credit seems at the time, the next thing will be beckoning to us before the first thing is payed off

there will always be another guitar

 

[stax]

I heard layaway not credit. You are not going to pay any interest, can slow pay it, have zero risk and will end up with something you worked hard and waited for. It will only bring you joy, inspire your playing, will hold much of it's value, will not breakdown (like a car, etc.) and become a heirloom to pass on.

Do I really need to go on or is this enough?

 

[eaglewolf]

Some stores will charge a restocking fee if you back out of a layaway deal, as they could have sold it to someone else who would have paid cash. Just make sure you know what the conditions are before putting something in layaway. Remember, they have both your money and the merchandise.

Honestly, saving up your money and then going out and buying what you want is the best way to go about it. For all the talk about "the one," there will be another guitar that is "the one" that will come along another day.

You would be much better served by setting up good habits now (saving up for what you want) than jumping on something and starting to get the taste of buying things you can't afford. That's coming from someone who has done it wrong most of his life - you don't want to go there.

So my short answer is no, it is not worth it.

David

 

[RobS]

save up the cash.....when you go in with cash you will get it for a better pricer.

LayBuy (as we call it in Aus) is good too, just means you have to wait for it but that is better than getting stuck with a debt that will haunt you.

Rob

 

[brp]

I could put the guitar on layaway,

Since you won't get to play it while you're paying it off, you'd do much better to just save the cash and when you have enough, you can then find an even better deal almost certainly.

I've never understood longterm layaways like this.
I guess it makes sense for something that you're afraid will no longer be available once you've saved the cash, but there's no shortage of LP's out there.
And as someone said, you could get a vintage one for less that's actually a better quality instrument.

 

[ckr1231]

I got laid off last year and saw a 1991 cream Les Paul. I looked like she was meant for me. I played her for about 10 minutes and knew she was destined to be mine. I had the money to buy her right then. I went home and told my girlfriend about it. She said go back and get her. I thought about all the bills I had to pay. I called them the next day and she was still there. Beckoning me !!!
I finally decided to just go get her and she was gone.
I knew better than to walk away from that guitar. She was calling to me.
You know it's the right guitar as soon as you pick it up.
I have been playing 31 years and that has happened only twice in my life.
A guitar is like a beautiful woman::
If it looks good and Feels good---then just DO IT !!!! cause you know she's gonna taste good !!!
To this day --I kick myself for letting her get by me.

 

[Grenade]

A great guitar is like a great woman, they sing, they scream , they moan, but if you pass it by or get the wrong one your life is hell.

 

[Daddy of 5]

You won't play the strat after you get the LP , maybe not the sg ...go trade them! A LP carries it's resale like no other

 

[seth]

would i buy a new guitar on credit and make payments on it over time while the debt is incurring interest? no fucking way...NO FUCKING WAY
if i had an interest free way of getting the money and had a very very sweet deal then perhaps but it would need to be some seriously sweet deal.

save up cash and shop around.