cburgert
Contributor
Has anyone taken out a personal bank loan for their dive equipment? I'm asking because I'm thinking about taking out a small personal loan. Was wondering if its worth paying interest or saving up for yet another year.
Personal bank loan
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Kevo88
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Personally, I'd just save for another year and pick up pieces when I can. The all in cost is a lot, but if you're patient, you can find deals on used gear and sales on new stuff.
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If you wait another year, the conditions will have improved. OTOH, dive shops will have better stuff next year and will still offer consumer financing.
My lesson was, when I was 24, I had to have the Curtiss Mathis television at the rent to own store. I paid a little over $1200 for a $250 TV set. I don't watch TV. If you dive now and again, rent. If you dive every weekend, buy.
My lesson was, when I was 24, I had to have the Curtiss Mathis television at the rent to own store. I paid a little over $1200 for a $250 TV set. I don't watch TV. If you dive now and again, rent. If you dive every weekend, buy.
Bob DBF
Contributor
I just lowered my standards and always bought what I could afford at the time. Over time, if you continue diving, you can wind up with what you want. There is a lot of good used gear for sale, and even if you buy new it will be used after the first dive.
Bob
Bob
Dude, what are you buying? A boat and DPV?
An alternative to a bank loan is perhaps a no interest transfer from a credit card. Will cost you 2-3% flat (assuming you payoff in a year)
An alternative to a bank loan is perhaps a no interest transfer from a credit card. Will cost you 2-3% flat (assuming you payoff in a year)
Bubblesong
Contributor
How will you feel if all your stuff gets stolen and you still have to make payments?
If the number of dives in your profile is correct, you are a very new diver. As a new diver, there is a high probability that you will not be diving as much as you think you will, or perhaps stop diving altogether for any number of reasons. Think about the thousands of gym memberships that are purchased every year, only to go dormant after a short period of time. Divers are no different. I highly recommend you rent gear until you are pretty certain that you will have the continuing interest, time, and money to warrant the investment in dive gear. Under the best of circumstances, diving is not an inexpensive sport. Once you make the firm decision that you can and are going to dive enough to justify the gear expense, and you know what gear will be best for you, there is a lot of used gear on EBay, Craigslist, etc., and SB can be a good source to find quality used gear.
Do not go into debt to buy a piece of new scuba gear that will depreciate nearly 50% the minute you put it in the water. If you take out a loan on a hypothetical $500 purchase of a regulator set, you could find yourself in a situation where you can only sell the set for $250-300, and still owe $500 plus interest. Remember that diving is a hobby, not a must have item like transportation required to have a job.
Do not go into debt to buy a piece of new scuba gear that will depreciate nearly 50% the minute you put it in the water. If you take out a loan on a hypothetical $500 purchase of a regulator set, you could find yourself in a situation where you can only sell the set for $250-300, and still owe $500 plus interest. Remember that diving is a hobby, not a must have item like transportation required to have a job.
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