Unparagoned 0 #26 August 27, 2005 Credit Card for protection, etc but paid it off before the month was up so I didn't pay any interest. Quote Share this post Link to post Share on other sites
freeflyimpaired 0 #27 August 27, 2005 Paid cash for a sleek $400 dollar rig and replaced canopies and container as I could afford them individually over the next year and a half. That allowed me to wait for that good deal on each part (buying used). This year I purchased a new container and reserve with cash. The way I see it the more credit card debt I have the less jumps I get to make next month. Joe. "Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so." Quote Share this post Link to post Share on other sites
nate_1979 9 #28 August 27, 2005 Military re-enlistment bonus installment... Sold my life, got to skydive in my own gear FGF #??? I miss the sky... There are 10 types of people in the world... those who understand binary and those who don't. Quote Share this post Link to post Share on other sites
Mike111 0 #29 August 27, 2005 i rent one, much cheaper. Quote Share this post Link to post Share on other sites
FrEaK_aCcIdEnT 0 #30 August 27, 2005 Quote -------------------------------------------------------------------------------- In Reply To -------------------------------------------------------------------------------- Debt costs, but then so does renting at $20-30/jump. But for such a big ticket item, I think you should have a short term plan for paying down a capital purchase like that. X months, or X hundred dollars paid each month. -------------------------------------------------------------------------------- This is the BEST ADVICE on the subject. You do NOT want to owe Visa or MC on a debt like a new rig. You'll be paying it off forever. Credit cards are built like that. The goal is for you to be paying the interest until the end of time. Don't fall into the trap. Credit card debt hounded me from college until I sold my first company. Now everything is about AmEx and paying it off at the end of the month. You save a FORTUNE when you're not paying interest. Put it on the credit card only if a) you can pay it off within a reasonable time - what's reasonable based on your interest payments is up to you - but don't assume you'll just "come into money." It doesn't work that way, and that debt with be with you forever, like luggage. b) only use one credit card, and make sure you can get points or miles for it. You might as well get something out of it. Good luck! PS: I bought my first rig last month - gave Sonic at The Ranch a hefty deposit, and will give him the rest when I get my gear. I look at it as just grabbing a lot of frequent flier miles for something I'd buy anyway. :) [ Here is my plan for the rig purchase. I will have the income tax check and probably a bonus(not depending on it though) come next Feb. My trucks last payment is next Mar. so I should have it all ordered and purchased on the Visa be mid march. and the balance paid off by Sep. to Dec. depending on what life throws me in that amount of time. I will probably sell what i can to cover about another 1K of the cost. The A should be completed by the end of Jan. at least thats my goal. once i get out of AFF things will speed up quickly. Quotei rent one, much cheaper. I thought about the just renting thing, but this is what i figured... rig cost = approx. $5000 Number of jumps put on the rig = approx. 500 amount per jump spent based on these numbers is $10. if i rent its $25 a jump or $75 all day. even if i just make enough jumps on my own rig with a cost of $5000 to average out to $25 spent per jump. then i would only have to jump it 200 times before i could get rid of it and break even. so I think its worth it to purchase one versus renting all the time. I also call my credit card company and get my APR lowered every 2 months. I take that instead of a credit line increase. thanks for the input everyone! you have sparked my thoughts on many many means of purchase. ExPeCt ThE uNeXpEcTeD! DoNt MiNd ThE tYpOs, Im LaZy On CoRrEcTiOnS! Quote Share this post Link to post Share on other sites
ltdiver 3 #31 August 27, 2005 Sold some collectable toys that I'd had since I was a kid. Brought in quite a bit of $$! ltdiver Don't tell me the sky's the limit when there are footprints on the moon Quote Share this post Link to post Share on other sites
ltdiver 3 #32 August 27, 2005 QuoteNumber of jumps put on the rig = approx. 500 I've got over 1500 jumps on one of my rigs. Bought it new (2nd rig) and it's still going strong. ltdiver Don't tell me the sky's the limit when there are footprints on the moon Quote Share this post Link to post Share on other sites
JohnMitchell 14 #34 August 27, 2005 I picked the last box. My wife buys my rigs for me. She also makes my jumpsuits for me, no charge. I have about 6-7 suits. She also cooks really well and . . . Ahhhh, life is goodl Quote Share this post Link to post Share on other sites
SkiD_PL8 0 #36 August 27, 2005 QuoteSold some collectable toys that I'd had since I was a kid. Brought in quite a bit of $$! ltdiver Seen 40 year old virgin yet? Greenie in training. Quote Share this post Link to post Share on other sites
ltdiver 3 #37 August 27, 2005 QuoteQuoteSold some collectable toys that I'd had since I was a kid. Brought in quite a bit of $$! ltdiver Seen 40 year old virgin yet? Nope. Not yet. Perhaps waiting for the DVD to come out.... ltdiver Don't tell me the sky's the limit when there are footprints on the moon Quote Share this post Link to post Share on other sites
AMax 0 #38 August 28, 2005 QuoteI picked the last box. My wife buys my rigs for me. She also makes my jumpsuits for me, no charge. I have about 6-7 suits. She also cooks really well and . . . Ahhhh, life is goodl I wonder what does your wife get in return Quote Share this post Link to post Share on other sites
Peej 0 #39 August 28, 2005 I was lucky, i was seeing a girl at the time who had a credit card with a major credit facility, she let meput my rig on it and pay her back monthly over a year and a bit. Advertisio Rodriguez / Sky Quote Share this post Link to post Share on other sites
Sneakerz 0 #40 August 28, 2005 Heres what I did, sold most of my kiteboarding gear that I didnt need anymore and anything else that I had of value that I didnt need anymore on ebay, That didnt get it paid off all the way, but it was a good start--------------- "Once you find a job that you like, you never have to work another day in your life" Quote Share this post Link to post Share on other sites
jman 0 #41 August 28, 2005 There are also cards that have deals where instead of a 0% promotion if you transfer a balance in the first month or two of the card you get a low interest rate (2-3%) which applies until the balance is paid off. This is about the cheapest way of getting a loan you'll ever find. You're right sweep. I used a credit card with a 1.9% interest rate until the purchase was paid off. It was my best option. Cash is always king though if you have it. Quote Share this post Link to post Share on other sites
sweep 0 #42 August 29, 2005 QuoteCash is always king though if you have it. I wouldn't necessarily agree with that. If you can get a 0% or 1-2% deal on a credit card (or any other kind of very cheap loan eg Government student loan) then I'd be tempted to use that and put the cash in a high-interest tax free savings account. Then pay the card/loan off just before the end of the promotional period. You can make quite a bit of money in interest from a 5% savings account, while paying 0% to the credit card company. The bigger the purchase, the more that's true. On the other hand, you might be able to get a cash discount on the kit due to the retailer not having to pay credit card charges so it depends. I just like making money off VISA instead of paying it to them. Sweep---- Yay! I'm now a 200 jump wonder.... Still a know-it-all tho.. Quote Share this post Link to post Share on other sites
freeflyimpaired 0 #43 August 29, 2005 Quoteput the cash in a high-interest tax free savings account. You can make quite a bit of money in interest from a 5% savings account Where did you (or more importantly, where can I) find that account???? "Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so." Quote Share this post Link to post Share on other sites
billvon 2,427 #44 August 29, 2005 You could try the technique a former Brown Field jumper tried - get a new credit card, buy a rig then declare bankruptcy. Quote Share this post Link to post Share on other sites
JohnMitchell 14 #45 August 29, 2005 QuoteQuoteI picked the last box. My wife buys my rigs for me. She also makes my jumpsuits for me, no charge. I have about 6-7 suits. She also cooks really well and . . . Ahhhh, life is goodl I wonder what does your wife get in return Uh . . . I pack for her? Quote Share this post Link to post Share on other sites
kelpdiver 2 #46 August 29, 2005 Quote You can make quite a bit of money in interest from a 5% savings account, while paying 0% to the credit card company. The bigger the purchase, the more that's true. 5% savings accounts? Where are you finding those right now? 3 is doing pretty well right now. It's true, you can make some money this way. But if you just spend the money instead, or not pay it off in time, or charge something you leave in the closet, you've lost. Every person has to be honest with himself on that one. I did finance my last motorcycle with no cash down (1.9%), but a driving factor was that BMW was going to pay the first 5 months. A bike is a reasonably liquid item to sell, and insured, unlike a rig. Quote Share this post Link to post Share on other sites
Squeak 17 #47 August 29, 2005 Sold a 1993 Moto Guzzi California (ie) this paid for my rig and a whole bunch of jumps My 2nd rig was funded in part by the sale of my 1st rig, and I wrote a cheque for the balance But I LOVE my Micron so it was owrth itYou are not now, nor will you ever be, good enough to not die in this sport (Sparky) My Life ROCKS! How's yours doing? Quote Share this post Link to post Share on other sites
Lainey 0 #48 August 29, 2005 The government paid for mine In Aussie they have a first home owners grant, I don't know if it's still around now but it was an incentive in place last year to encourage people to buy their first property. You buy a property for the first time and the government gives you $7,000. Funny how everything I needed seemed to come to $7K Although now that i think about it, just buying a rig would have been a lot cheaper in the long run than buying a house to get a free rig And you shed not a single tear for the things that you didn't need 'Cause you knew you were finally free - Death Cab For Cutie Quote Share this post Link to post Share on other sites
skymama 35 #49 August 29, 2005 I got a second job and was able to pay cash for it.She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
