Financing a Ludwig Zep Kit?

AModestRat

Member
Well, I've put a bit more thought into it and I've decided to not finance the kit or get a MF card at all. I'll be moving into a smaller apartment soon, so space will be an issue as well as saving some $$$$ for the rent. Oh well, I'm not too heartbroken about it. One day maybe I'll have enough money to order a set of Ludwigs in Bonham sizes but for now I'll enjoy my Element Birches.
 

PorkPieGuy

Platinum Member
Well, I've put a bit more thought into it and I've decided to not finance the kit or get a MF card at all. I'll be moving into a smaller apartment soon, so space will be an issue as well as saving some $$$$ for the rent. Oh well, I'm not too heartbroken about it. One day maybe I'll have enough money to order a set of Ludwigs in Bonham sizes but for now I'll enjoy my Element Birches.
Good for you! You made a wise choice.

You'll appreciate them more whenever you are able to trade a stack of $100 bills for them as opposed to "making payments."
 

Brandtwi

Member
This was a GREAT deal and you should have bought it - I did. A $300. discount on an already low priced Ludwig drum kit AND 0% interest for 48 months (4 years).
My note is $19 a month & I have $20 automatically withdrawn from my checking account to pay it.
It is always smart to use somebody else money to buy something especially if there is no charge for doing so. Anyone that knows anything about business will tell you so.
I have never seen such a good deal offered and I jumped all over it. A deal this good is rare and every drummer should have taken advantage of it. I haven't seen a used kit priced this low & I search every day. Too bad you didn't go for it.
 

Groov-E

Silver Member
This was a GREAT deal and you should have bought it - I did. A $300. discount on an already low priced Ludwig drum kit AND 0% interest for 48 months (4 years).
My note is $19 a month & I have $20 automatically withdrawn from my checking account to pay it.
It is always smart to use somebody else money to buy something especially if there is no charge for doing so. Anyone that knows anything about business will tell you so.
I have never seen such a good deal offered and I jumped all over it. A deal this good is rare and every drummer should have taken advantage of it. I haven't seen a used kit priced this low & I search every day. Too bad you didn't go for it.
Well I know a thing or two about business and I can say without a shadow of a doubt that I have great respect for the OP who took the rational decision and exercised his sense of restrain not to use debt to finance a hobby.

I see too many people every day who started with debt for household appliances and furniture who got their credit trashed because they missed one single payment, say they forgot to change their credit card number after losing their wallet or simply getting issued a new one from the bank. Much harder to put a roof over their family's head afterwards through no real fault of their own.

Debt as a business expense is a whole different story.
 
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PorkPieGuy

Platinum Member
A good deal that you can't afford is NEVER a good deal. Sort of like whenever I see a truck commercial for $12,000 OFF of the original $55,000 price tag. Nope, and still nope in my book.


I think both the OP and the person who bought the kit made the best decisions from them, respectively. Good for both of you!
 

Pocket-full-of-gold

Platinum Member
A good deal that you can't afford is NEVER a good deal.
But if you can pay it off within the allotted time frame. And you can make more than the minimum monthly repayments, then you can afford it.

I'm not talking about the specifics of this particular scenario. Ultimately the OP decided the best course of action for his personal circumstances and I have no doubt his decision was the right one. But as one who has used the principle of long term finance effectively on several occasions, it certainly can be a good deal AND affordable at the same time.

Of course, none of this is designed to diminish the cautionary element of what you say. Merely to show that there is another side of the coin as well. It can definitely be done without fear of putting yourself in the poorhouse.
 
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Brandtwi

Member
Come on people, we are talking about $19 a month for a Ludwig Bonham size drum set. Are you really going to claim you can't afford $19 a month? You can make more than that selling your blood or old aluminum cans.
 

crispycritters

Senior Member
Come on people, we are talking about $19 a month for a Ludwig Bonham size drum set. Are you really going to claim you can't afford $19 a month? You can make more than that selling your blood or old aluminum cans.

If financing works for you then fine. If you can afford it or not makes no difference - its down to the individual who KNOWS their own personal situation to make a decision on whether to finance or not. Believe it or not there are other things in life that are important - mortgage payments/rent/car loans/medical bills/eating etc etc. I respect the OPs decision not to finance - berating someone for not following your actions isn't so impressive. Perhaps I'm misreading the nature of your post.

For many, financing is purely for essentials or genuine emergencies - new drums, especially when they already own a perfectly serviceable and gig-worthy kit isn't either one.
 

markdrum

Silver Member
Not financing is always the best option unless you have an infallible crystal ball. All it takes is >one< mishap and you can be seriously hosed. Remember 2007? A lot of people seem to have forgotten that recession already. A car accident, layoff, health problem, all of those can put a serious strain on your finances. Anything that you have financed goes from a luxury to a liability. A lot of people lost their homes in the recession due to being out of work and having to put their medical expenses on their credit cards. You made a wise decision not financing that kit. That's one less worry that you'll have. If you're happy with the Element kit then you're ahead of the game. Just save your pennies and maybe take on some more work and amass the amount that you need. If you can't afford to pay the financed drums off you'll have to sell them any way, at a serious loss. You made a good decision. There are lots of people making drums and they will for a while. Travel light, travel right
 

Mediocrefunkybeat

Platinum Member
Come on people, we are talking about $19 a month for a Ludwig Bonham size drum set. Are you really going to claim you can't afford $19 a month? You can make more than that selling your blood or old aluminum cans.
In some jurisdiction, you can't sell your blood...
 

Rattlin' Bones

Gold Member
It's not necessarily the exact $19 figure. Miss a payment due date once or twice and your credit score gets hit. $19 or $199 that don't matter, and it can happen just by accident over the 48 months. Plus late fees accrue.

Come on people, we are talking about $19 a month for a Ludwig Bonham size drum set. Are you really going to claim you can't afford $19 a month? You can make more than that selling your blood or old aluminum cans.
 

Jbravo

Senior Member
Another thought is to look for a used 2010 or so Accent zep kit. I bought a used set for $399 from GC. They’re much nicer than the more recent accents. I also recovered mine in black oyster for about $220, but of course you may not feel the need...
 

jdavis

Member
Another thought is to look for a used 2010 or so Accent zep kit. I bought a used set for $399 from GC. They’re much nicer than the more recent accents. I also recovered mine in black oyster for about $220, but of course you may not feel the need...
^^^ This.

I got one of these kits used for less than that and am surprised by how they sound and how fun they are to play. Add a nice snare and not many will be the wiser ;)
 
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