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Archive 2012 · Best places for financing
  
 
ghdarnell
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p.1 #1 · Best places for financing


Hey guys, we have a budget of about $10,000 and are looking to make a purchase of another body and some lenses. My question is, where is the best place to buy with the best financing? I really like best buy with 24 month financing but they don't have much in lens selection. Thoughts?


Aug 14, 2012 at 04:12 PM
Jamesbjenkins
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p.1 #2 · Best places for financing


Best buy's selection is nothing but low-end consumer products. They don't have any of the good stuff. You might want to look at "buyitlater" as an option. I've never used them, but I've seen lots of ads for their financing options.

They're available at most major online retailers (B&H, Adorama, etc.)



Aug 14, 2012 at 04:16 PM
ghdarnell
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p.1 #3 · Best places for financing


Jamesbjenkins wrote:
Best buy's selection is nothing but low-end consumer products. They don't have any of the good stuff. You might want to look at "buyitlater" as an option. I've never used them, but I've seen lots of ads for their financing options.

They're available at most major online retailers (B&H, Adorama, etc.)


The problem is they only offer 6 months no interest. We have enough weddings booked to pay off $10,000 within 18 months, but not 6



Aug 14, 2012 at 04:16 PM
TRReichman
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p.1 #4 · Best places for financing


Then don't buy more equipment.

- trr



Aug 14, 2012 at 04:18 PM
Manzelle
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p.1 #5 · Best places for financing


Amazon is currently offering 12 months and 0% but I agree with above. If you can't pay for it now, do not depend on future jobs to pay for it.

Edited on Aug 14, 2012 at 04:20 PM · View previous versions



Aug 14, 2012 at 04:18 PM
ckhagen
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p.1 #6 · Best places for financing


Have you thought about leasing?


Aug 14, 2012 at 04:19 PM
tobicus
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p.1 #7 · Best places for financing


TRReichman wrote:
Then don't buy more equipment.

- trr


What he said.



Aug 14, 2012 at 04:22 PM
Inku Yo
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p.1 #8 · Best places for financing


I would rent when needed. Buy only when you have the cash flow to do so.


Aug 14, 2012 at 04:23 PM
stevez32
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p.1 #9 · Best places for financing


http://www.prosper.com/

http://www.lendingclub.com/



Aug 14, 2012 at 04:24 PM
jeremy_clay
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p.1 #10 · Best places for financing


What body and 'some lenses' do you *need* that cost $10,000?


Aug 14, 2012 at 04:52 PM
 

Search in Used Dept. 



mci2727
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p.1 #11 · Best places for financing


I gotta say this is not the "right start in photography"... See what I did there?
For real though, you don't need whatever all that 10k will get you.
There's no way that it will make you that much more money (if ANYMORE at all).

This is a business decision and not a personal one and thus emotions need to be left out of it.
Black and white; it's a bad move to take debt on like that.
Rent if you must.

What is your current setup?
I'm willing you'r fine where you are for now.



Aug 14, 2012 at 05:02 PM
Tony Hoffer
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p.1 #12 · Best places for financing


I would highly recommend against taking a loan/financing to start a photography business.


Aug 14, 2012 at 05:13 PM
TTLKurtis
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p.1 #13 · Best places for financing


ghdarnell wrote:
The problem is they only offer 6 months no interest. We have enough weddings booked to pay off $10,000 within 18 months, but not 6


First, you need to be charging a lot more than you are to even hope to make a profit.

Second, someone charging $950 for a wedding should literally have nothing but a single camera and one or two lenses, IMO. That's because I wouldn't consider that above amateur-level.

Bad business plan, man...



Aug 14, 2012 at 05:17 PM
amonline
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p.1 #14 · Best places for financing


Tony Hoffer wrote:
I would highly recommend against taking a loan/financing to start a photography business.


Agreed. Rent additional needed gear to get the job done. Build capital. Buy in cash.



Aug 14, 2012 at 05:18 PM
TTLKurtis
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p.1 #15 · Best places for financing


amonline wrote:
Agreed. Rent additional needed gear to get the job done. Build capital. Buy in cash.


Bad advice there. Rental = wasted money. You'd "spend" less money if you simply buy used gear and eventually sell it later if you don't want to keep it, as opposed to spending hundreds and hundreds of dollars on temporary gear usage.

Buying = long term rental, in my view. Lenses are practically like gold, they hold their value extremely well.



Aug 14, 2012 at 05:24 PM
tobicus
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p.1 #16 · Best places for financing


Yup, buy used if you can't afford it new in cash. If it's full frame you're after, you can get that for under 1k Canon, under 2k Nikon. If it's lenses, you can get several primes for under a grand. Ditto with flashes. Don't go in the hole for a D800/5D3/lots of f/1.4 primes; get creative, buy used, save up.


Aug 14, 2012 at 05:28 PM
DannyBostwick
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p.1 #17 · Best places for financing


Equipment doesn't make photographs, light does. Buying a 5D3 with an 85 1.2 is helpful, but I built a career on a 50D and 5D2 with a 24-105 and a few 580ex's with radio poppers. Now I have all that fun stuff, but going into debt for any reason, is never a good idea.


Aug 14, 2012 at 05:48 PM
DannyBostwick
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p.1 #18 · Best places for financing


TTLKurtis wrote:
Bad advice there. Rental = wasted money. You'd "spend" less money if you simply buy used gear and eventually sell it later if you don't want to keep it, as opposed to spending hundreds and hundreds of dollars on temporary gear usage.

Buying = long term rental, in my view. Lenses are practically like gold, they hold their value extremely well.


Truth. One wedding with out a 35L won't kill you, you'll do just fine.



Aug 14, 2012 at 05:50 PM
amonline
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p.1 #19 · Best places for financing


Guys, he's talking about the need for a SECOND BODY. You should probably re-think some of your responses. You're assuming an awful lot.


Aug 14, 2012 at 05:56 PM
lilyphoto
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p.1 #20 · Best places for financing


Agree with everyone else. Don't buy anything unless you have the cash to do so.


Aug 14, 2012 at 05:57 PM
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