Tuba loans

tubadude08 · Post by **tubadude08** » Wed Jul 23, 2008 3:40 pm

Is there anywhere I can get a loan specifically for a new horn?

MartyNeilan · Post by **MartyNeilan** » Wed Jul 23, 2008 4:21 pm

james · Post by **james** » Wed Jul 23, 2008 5:18 pm

Man,
I know how tempting it is to take out a loan for a tuba or two. But, from someone who has been there and done that, DON'T DO IT! PM me if you would like my opinion.

-James

Rick Denney · Post by **Rick Denney** » Wed Jul 23, 2008 5:34 pm

tubadude08 wrote:Is there anywhere I can get a loan specifically for a new horn?

If your credit is good and your capability to pay back the loan assured, then you can borrow money from anyone. I prefer credit unions for personal loans--they are usually more interested in your well-being. Make sure the term of the loan is shorter than the life of the instrument.

If your credit is not good enough or you don't know how you'll pay it back, then nobody will loan you the money without compensating themselves grandly for taking the risk. And so the answer to your question would have to be "no".

I have borrowed money to buy tubas, and not regretted it. But for me it was a cash-flow management tool, not a means of getting something I could not otherwise afford. Make sure you understand that distinction.

If you are a student, then you have no credit and no ability to pay the load back. See above.

Rick "not all loans are bad" Denney

Todd S. Malicoate · Post by **Todd S. Malicoate** » Wed Jul 23, 2008 5:59 pm

Rick Denney wrote:I have borrowed money to buy tubas, and not regretted it. But for me it was a cash-flow management tool, not a means of getting something I could not otherwise afford. Make sure you understand that distinction.

That's the real trick, isn't it?

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