# Best place to buy camera equipment with monthly payment option?



## Robin Usagani

Is there such a place?  Or do I have to use my credit card and bend over with 17% interest?  (not sure what the interest is on my CC because I always pay it off, but you got the idea).  I'm thinking about getting a 5D an another lens.


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## Neil S.

I doubt you will find a place that will give you zero interest financing on camera gear, could be wrong though.

Either taking out a loan or putting it on credit card is probably what you would have to do if you dont have the cash.


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## mostly sunny

Best Buy 18 months interest free


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## Neil S.

mostly sunny said:


> Best Buy 18 months interest free


 
I didnt think they carried many DSLRs and lenses though.

Can you do it online too?


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## Hardrock

Save up and then pay cash and no worries!


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## Bitter Jeweler

You're gonna want to upgrade in like 6 months after you get the 5d, so you might as well put a 1d on credit, and be done with it.


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## Neil S.

WOW...


I just looked and Best Buy online has the 5D mk II with a 3 year zero interest plan. The penalities for missing a payment are like 29% interest though.

I may buy some stuff from them now lol.

Thanks for the info.


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## Robin Usagani

i dont mind the interest.. just not 18%.  I may consider that from Best Buy.  I think if you fail to pay it off, all the interest will accumulate all that 18 months like you never paid a dime (same as cash deals).


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## Robin Usagani

3 years?  Im going to tell wife about this LOL.  Give me the exact link please.

@bitter.. LOL  Then I can walk around looking cool right?


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## Neil S.

Schwettylens said:


> 3 years? Im going to tell wife about this LOL. Give me the exact link please.
> 
> @bitter.. LOL Then I can walk around looking cool right?


 
Canon - EOS 5D Mark II 21.1-Megapixel Digital SLR Camera - Black - EOS 5D Mark II


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## Neil S.

OMG they got 3 year no interest on the 24-70 2.8L too. 

That and the 180mm macro are about the only 2 lenses I would consider buying right now.

I really want an IS version of the 24-70 2.8 though.


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## kundalini

> *Best place to buy camera equipment with monthly payment option?*


It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.


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## Overread

3 years is also a long time on those higher cost goods - I would want a payment like this over in a year at the least - any longer and you really lose the ability to forecast your finances - one missed shift or two - an illness etc... and you can easily end up either having to really scrape and suffer or missing a payment (and getting hit by the big increase in price as a result). Also a lot of these are now limiting your monthly payments - so even if you have more money you can't pay it in any faster (they want you on their books a nice long time - the longer it is the more chance you'll slip up or have something that makes you miss a payment).

A year is what I would consider the max for something like this - any longer and its just a bit too risky. Also on something like a camera body after 3 years even the pro end bodies are being upgraded.
It might also be a valid approach if you are earning off the gear itself and you need it in order to make that income possible (though there might be other options to consider under this rout - like hiring the gear and getting a discount from the hiring company when you then purchase the gear you've had on loan - some offer this service).


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## csgrafix

I bought my 7D @ best buy with a best buy credit card and accumilated points from using their credit card on all other purchases too. They also do price match if you find it cheeper. Its gotta be in-store purchase though...

I should start paying my mortgage with my credit card ! lol


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## epp_b

How about... save up the money.  What a concept, huh?


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## pbelarge

With tax, the camera is going to cost about $2845 - that is a lot of money for this camera.


I do not purchase anything that I cannot pay for today (except the living space)....but that is just the way I was brought up.


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## Vinny

DON't DO IT!!!

I agree with saving up the money and then buying it. Put $50, $100 or $200 a month away and don't touch it. 2 things will happen - 1) you'll not have a bill on your hands and 2) you're not paying for a camera that might be replaced in the time you are still paying it off and then you'll possibly regret it.


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## ghache

if you bank 120 bucks a month for 2 year you might be able to buy the replacement....

if its 0 interest, why not. you just have to make your payment.

Id rather pay 100 bucks a month for something that i will fully enjoy than wait 2 year to get it.

in 2 year when your done paying it, you can still get a few 100s that you can put towards another one.


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## Robin Usagani

You ask any economist which one is better, they will say same as cash is better as long as you pay it off.  Let me worry about my financial situation please.


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## Ron Evers

kundalini said:


> *Best place to buy camera equipment with monthly payment option?*
> 
> 
> 
> It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.
Click to expand...


Absolutely the best advice.  

Go into debt for a house & MAYBE a car only.


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## Vinny

Just trying to be helpful and give you the other side of the coin!

And as far as economists ... they don't all agree on the economy of things ... the federal government has their interest rates at 0% financing for the banks and I hear all sorts of different opinions from economists! And that is assuming you can pay it off.



Schwettylens said:


> You ask any economist which one is better, they will say same as cash is better as long as you pay it off. Let me worry about my financial situation please.


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## KmH

Schwettylens said:


> You ask any economist which one is better, they will say same as cash is better as long as you pay it off. Let me worry about my financial situation please.


"as long as you pay it off". If you don't.......

Which is why saving the money is the better option.

"Let me worry about my financial situation please."

You're the one that raised the question on a public forum. If you don't want public comment, don't post.


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## peanut170

Pretty sure he asked if anyone knew of places that would do monthly payments, dont remember asking should i buy equipment on credit being in the title. either ya know of places or ya dont, maybe he has no bills, or is getting a huge tax refund next year, he looks like a big boy that can make his own decisions.


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## Sachphotography

csgrafix said:


> I bought my 7D @ best buy with a best buy credit card and accumilated points from using their credit card on all other purchases too. They also do price match if you find it cheeper. Its gotta be in-store purchase though...
> 
> I should start paying my mortgage with my credit card ! lol



HAHA I get to.... Well it is rent but they take a card......They charge a fee of like $10 for charges over $300 which every bodies rent is over that of course...
I asked if I could just pay half and half to keep it under 300 and avoid the fee...She looked at me funny and said.."G...no one ever thought of that.It's a good idea"

LOL...FREE POINTS!!


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## Taylor510ce

HMMM, I would wait for a credit card offer with 0% interest, or wait for a sale somehwhere. You can also try joining a credit union and usually you can get better interest rates on credit cards and loans.

Slightly different than what you are looking for....I had the perfect plan the other day, but so far its been ruined........

Costco membership is $50 bucks a month and they take back pretty much ANYTHING no matter what. Well for a while they had the 7D and 5D on their website. So I figured, you buy one ( not the greatest price for them mind you ) use it for a few months, and return it. Make up some BS about not liking it, or dead pixels or whatever else you want. It would be the greatest way to "Rent" an extra camera for a wedding. HAHA

As of now, they no longer are showing up online. All I see is the Rebels and a 50D. They always change inventory though. They also have Nikon SB-600 and SB-900 flashes and I think the D90 and D5000 if you were a nikon user.


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## Neil S.

KmH said:


> Schwettylens said:
> 
> 
> 
> You ask any economist which one is better, they will say same as cash is better as long as you pay it off. Let me worry about my financial situation please.
> 
> 
> 
> "as long as you pay it off". If you don't.......
> 
> Which is why saving the money is the better option.
> 
> "Let me worry about my financial situation please."
> 
> You're the one that raised the question on a public forum. If you don't want public comment, don't post.
Click to expand...

 
The name of his thread wasnt "Is it better to finance a camera, or buy it with cash? I see this so much on the internet, people twisting others words around.

And guess what, hes right and youre wrong. 

You shouldn't be worried about his financial situation, because its none of your business. Do you care to argue this with me? I doubt it.


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## mrmacedonian

Yeah I generally don't buy anything unless I have the money to pay for it now, just in case. That being said, if you buy it form B&H and use BillMeLater, you get 6months no interest no payments, thats what I used. I've used  BillMeLater (PayPal) for when I build PCs and I've charged 1500-2000 @6mo. no interest/no payments about 3-4 times, they run a great site/service.

If you don't pay it off by the promotion date you're in for a penalty (all the interest you hadn't gotten thus far), so do this if you can pay 1/6th of the price each month or like I generally do, have the money beforehand but hold onto it to use it to make more money in the meantime 

p.s. this promotion changes, but its usually 6mos. no interest/payments (it is right now) so if its not when you want to buy it, it probably will be soon; just look under the "protection plans" radio buttons to the left of the "Add to Cart" button..


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## crimbfighter

If done properly and carefully managed, these type of budgeted payment plans can be beneficial. As long as your long term savings aren't being ignored and it's being done with disposable income, doing it this way can take advantage of promotional offers, rewards points, ect. I in fact do this sometimes. Use their credit card, buy it, pay it off in 6 months and get the $100 gift card or what ever the promotional offer was, then cancel my account and go on my merry way. You just have to watch out for early payment penalties that some retailers tack on there to discourage people from doing exactly what I do. If a good, well thought out opportunity presents itself, take it.


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## sleist

Use the credit card to purchase big ticket items because there are protections with many credit cards that can protect you in the case of problems with the product or if there is some other type of dispute.

That being said, make sure you've saved enough up before hand so you can pay it off quickly and stick it to them by not carrying a balance.


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## benlonghair

kundalini said:


> *Best place to buy camera equipment with monthly payment option?*
> 
> 
> 
> It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.
Click to expand...


I tend to agree with this. I set up a savings account for camera gear only. It's got a loooong way to go but I'll get there and won't end up paying a credit card at 15-30%. Free financing is fine as long as you're not gonna miss a payment.


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## Robin Usagani

I will probably pay it off in a year.  The extra 2 years is just a buffer zone.  
Anyway back to bestbuy.. it looks like their prices are higher than most places.  They do price match but only to other competitors (not online stores).  The 5D is listed $200 more than B&H and I am pretty sure they wont match B&H.  So I am looking around if Sams club and Costo have the products.  They will certainly price match that.  All of the lenses are more expensive too.


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## benlonghair

Schwettylens said:


> I am pretty sure they wont match B&H.



Call B&H to see if it's the same price in their physical store. If it is I don't see why Best Buy wouldn't match it.


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## Polyphony

epp_b said:


> How about... save up the money.  What a concept, huh?


This is how I feel. I don't understand people always asking "how can I afford this?" "how can I finance this?" etc.  If you actually have a job, it isn't that hard. You aren't buying a mansion. It's a $2000 camera.  Put money in the bank after you get your paycheck and you will have all the money saved in a few weeks.  It really isn't that hard...unless you don't have a job.


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## Robin Usagani

benlonghair said:


> Schwettylens said:
> 
> 
> 
> I am pretty sure they wont match B&H.
> 
> 
> 
> 
> Call B&H to see if it's the same price in their physical store. If it is I don't see why Best Buy wouldn't match it.
Click to expand...

 
Because their physical store is in NJ.


Look.. this is getting really annoying. I am a 32 yo licensed structural engineer. NO CC debt and I have paid off my tuition. I am a big boy. My wife and I have a system. We each have a monthly allowance where we can spend it on whatever we want. This way I wont argue with her about spending over $100 over a haircut. And she wont argue with me for spending it on Camera equipment or car parts. Yes I can save up my allowance for a year and buy it then. But why not get it now with 0 financing? There is my reason. I know it sounds silly that a 32 yo have an allowance, but hey... it works!  It is a lot less arguing between the two of us.  I hope you respect my decision and you guys stop posting about my financial situation. I posted this thread to ask if you know a store that will finance it. And it came by a surprise that there is with 0 financing for 3 years! That is unbelievable.


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## Sw1tchFX

ritz does a 9 months same as cash option, but yeah if you're late or go past 9 months the interest is astronomical, 29% sounds about right.


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## Sonoma

B&H has a plan similar to the rest of the businesses mentioned, plus their prices are about the best I have found.  Here is a link to more info......

https://www.securecheckout.billmela...content=/bmlweb/tnpupto6m100750rollingiw.html

Good luck with whatever you choose!
Gary


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## csgrafix

Schwettylens said:


> benlonghair said:
> 
> 
> 
> 
> 
> Schwettylens said:
> 
> 
> 
> I am pretty sure they wont match B&H.
> 
> 
> 
> 
> Call B&H to see if it's the same price in their physical store. If it is I don't see why Best Buy wouldn't match it.
> 
> Click to expand...
> 
> 
> Because their physical store is in NJ.
Click to expand...

 

They have a store in nyc too. ...huge!


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## Robin Usagani

OH.. I meant it is not in the same state as me so they cant price match it.  But I did find other store that sells it the same price and B&H.  They will match that.


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## csgrafix

Do you know if BB does price match for items that have to be shipped from their warehouse? I dont think they keep the 5D stocked in their stores.


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## usayit

Ron Evers said:


> kundalini said:
> 
> 
> 
> 
> 
> 
> *Best place to buy camera equipment with monthly payment option?*
> 
> 
> 
> It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.
> 
> Click to expand...
> 
> 
> Absolutely the best advice.
> 
> Go into debt for a house & MAYBE a car only.
Click to expand...


and Education.

I agree..  don't do it.   Dumb idea and a very bad habit to start.

Best Buy's deal is much like in store credit cards.   It is not interest free!!!!  IT IS INTEREST DEFERRED!   They are banking you will miss at least 1 payment through the term (3 years).  One missed payment (even 1 minute late after EOB of that cycle), you get charged for all interest deferred + penalty + an obscene interest rate for the remainder.  Someone once told me the rate of missed payment is something on the order of 50-60%.   Man.. banks are cashing in big time.

Granted.. i've taken advantage of these deals on large NECESSARY purchases like appliances, furniture, etc..   I make sure my bank sets up auto payment and I generally pay at least 1/2 of that up front.  I also will admit using home equity line of credit once to fund the last $1000 needed for my M8 (it was available 3 months ahead of what I had plan via a waiting list).   Then again, that was paid off within 3 months with less than 5% interest with 16 day grace period AND no deferred interest crap to worry.  

Save up.. don't do it.


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## SecondShot

my god....


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## Robin Usagani

usayit.. thanks for really explaining why.  I will look in to it.   I will definitely read through all the rules.  It is not a done deal.  I have talked about it my wife and she doesnt mind if I do it.   They say the minimum is $10 or 1% of the debt.  So lets say i spend $3500.  The minimum is $35.  So lets say for some odd reason I forgot about the first payment.  What do you think they will do?  I thought they will just do a penalty like maybe $30 or something but you made it sound like a percentage of the whole debt? 



usayit said:


> Ron Evers said:
> 
> 
> 
> 
> 
> kundalini said:
> 
> 
> 
> It is ill conceived to finance a hobby. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.
> 
> 
> 
> 
> Absolutely the best advice.
> 
> Go into debt for a house & MAYBE a car only.
> 
> Click to expand...
> 
> 
> and Education.
> 
> I agree.. don't do it. Dumb idea and a very bad habit to start.
> 
> Best Buy's deal is much like in store credit cards. It is not interest free!!!! IT IS INTEREST DEFERRED! They are banking you will miss at least 1 payment through the term (3 years). One missed payment (even 1 minute late after EOB of that cycle), you get charged for all interest deferred + penalty + an obscene interest rate for the remainder. Someone once told me the rate of missed payment is something on the order of 50-60%. Man.. banks are cashing in big time.
> 
> Granted.. i've taken advantage of these deals on large NECESSARY purchases like appliances, furniture, etc.. I make sure my bank sets up auto payment and I generally pay at least 1/2 of that up front. I also will admit using home equity line of credit once to fund the last $1000 needed for my M8 (it was available 3 months ahead of what I had plan via a waiting list). Then again, that was paid off within 3 months with less than 5% interest with 16 day grace period AND no deferred interest crap to worry.
> 
> Save up.. don't do it.
Click to expand...


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## UUilliam

FFS.

The guy is set on a 5D mk ii, let him get it.

Schwetty is as he says 32, 
infact schwetty, why bother listening to them? if you are set on it, just get it :l

You are in a stable job / income, the only possible thing I see that could mess it up is if you lost your job or something.


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## Robin Usagani

Amen LOL


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## usayit

HSBC which is actually the financial institution that underwrites BestBuy CC, Circuit City, and a handful of others have had a history of being under fire for misleading customers of their so called "interest free" statements.  If you do search you'll find many complaints.   I read somewhere that HSBC representatives were in court stating that "Interest free" is not a legal term and can be defined in any manner.  In fact, it is defined in the agreement (which so few actually read fully)... In this case, it is "interest free" meaning... during the term you don't have to pay interest but it doesn't mean that you are not being charged interest.  The interest is deferred only if certain obligations are met.   If you don't meet obligations, the deal is off and they back charge you for the deferred interest in its entirety.  BB CC isn't the only card that does this... almost all in-store CC's I have ever read the fine print on does this.   The most recent one I have discovered is Sleepy's (sells mattresses).  As soon as I discovered that fine print on my so called 24 month agreement, I paid it off in the next month.

BBY - HSBC Best Buy Credit Card DEFERRED INTEREST CHARGE... - Best Buy Forums

Best Buy Deferred Payment Credit Card Problem

I just did a quick google and there are dozens of links.   


Yes... you are 30+ and more than capable of making your own decision.  I respect that.  I figure if the information is available there is no reason not to share it.  Sharing is what we do here.   Risky financial decisions is NOT only a problem for the young....  people of all sorts of backgrounds make these mistakes.   Banks simply are doing what they do best.. prey on the typical consumer.


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## usayit

Schwettylens said:


> What do you think they will do?  I thought they will just do a penalty like maybe $30 or something but you made it sound like a percentage of the whole debt?



Forgot to actually answer the question...

You'll pay a penalty + any deferred interest + a huge interest (24% is what I've seen) for the remainder.

So worst case scenario, you miss your very last payment.  Suddenly all compounded interest from the last 3 years @ somewhere between 24-29% suddenly appear on your bill.  It is impossible to fight unless they made a clerical error.   If you refuse, it WILL appear on your credit history.

Personally if I must do something similar, I would rather pull from my home equity line of credit.   Its a fraction of the interest, no weirdness like deferred interest AND banks are more willing to work with you (its tough for them to take primary residence so they would rather work with you).  Its still not recommended but something to consider if you do have property.  Remember, you are betting that you will remain able to pay for the term.  Who knows what can happen.. Loss of employment is a big thing I've seen several individuals go through (unfortunately becoming common) Compounding deferred interest snafu from CCs just added salt to the wound... big time.   I've also heard employers now doing credit history checks too.. they'll see these issues during the hiring process.... OUCH!


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## Robin Usagani

Hmm thanks usayit.  Thats a good article.  It sounds like they do their best to screw you even if you pay everything on time.  Really I had no problem with people telling me that I shouldnt do it.   But most people didnt base it on this bad practice Deferred interest charge.  They just base it on "if I cant pay it cash now, dont do it".  And after seeing multiple of them it gets annoying.  So thanks to your post I have reconsidered my decision.  I will just save up and get 5D mk1 for now.


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## Airborne_Guy

LAY AWAY!
Walmart!


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## aquaticson

Schwettylens said:


> Is there such a place?  Or do I have to use my credit card and bend over with 17% interest?  (not sure what the interest is on my CC because I always pay it off, but you got the idea).  I'm thinking about getting a 5D an another lens.


 Sorry to bring up an old thread but i was looking for the same thing, and i dont know that i have established good enough credit for the best buy option.  there is an audio gear site called AmericanMusicsupply.com which has a service where you make a downpayment for your gear and then pay the rest off on a monthly basis.  there is no credit check required for that site either, i'm just wondering if there is a site like that for photography gear?



Vinny said:


> DON't DO IT!!!
> 
> I agree with saving up the money and then buying it. Put $50, $100 or $200 a month away and don't touch it. 2 things will happen - 1) you'll not have a bill on your hands and 2) you're not paying for a camera that might be replaced in the time you are still paying it off and then you'll possibly regret it.


 
is it really worth it to save your money for 2 years to buy a camera and a lens? or even one lens? i feel like the amount of work you could put in in the amount of time you would be saving could potentially pay off that camera plus 2 or three more.  photography/videography is a catch 22, you need good lenses and quality equipment to get paid but you cant get any of that without having money.  I don't feel like "going into debt" for a camera is any less legitimate than going into debt for a car.  that is assuming you are in the business of photography/visual media and not just a hobbyist. When quality lenses cost 1600 a pop its unrealistic to expect every entry level photographer trying to get their foot in the door to save for a year to get their equipment game right, especially with the competitive nature of the field....


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## Ryan L

Entry level photographer=Hobbyist with a dream

Pay cash, your not going to make the money back just because you buy a nice camera.


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## usayit

From AmericanMusicSupply

If your order is between $249.99 and $995.94, your credit card will be billed in 3 equal payments, every 31 days, starting on the day your order is shipped.

If your order is between $995.95 and $3000, your credit card will be billed in 5 equal payments, every 31 days, starting on the day your order is shipped. 5 Payment plan will need credit approval.

Its not brain surgery here!  (Price of item + tax + shipping)/3 = payment (or 5 months).   What's wrong with putting away the "payment" amount in YOUR bank account for 3-5 months and then buying the item?  Are we so undisciplined that we need someone else to do the saving on the behalf?


Here's the difference (at least for me) between a camera and car.  1) You can't buy a reasonable car for the typical cash in bank.  2) A car is required to commute to work.   WORK == PAYCHECK.  Camera will not pay itself... ITS PURE EXPENSE. 

The lesson here.. run your personal finances like a business.  For most non-profitable startup type businesses, your expenses should be fully funded or in plan moving forward.   

Don't they teach personal finances in High School these days?


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## 2WheelPhoto

kundalini said:


> *Best place to buy camera equipment with monthly payment option?*
> 
> 
> 
> *It is ill conceived to finance a hobby*. If you can't pay cash or pay the credit card off in the same billing cycle, I would reconsider and save until you can.
Click to expand...

 

^^^^^^^^^^^^ that


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## Dextermorgan

Man this is one hilarious thread.  The guy asks a simple question and you holier than thou POS's feel it's better you tell him what he should or shouldn't do than answer the question. I didn't know whether to laugh or cyberly grab someone like Ryan L by the throat. What wrong with you guys? You aren't his wife, mother or financial advisor.  Ugggg.  I wish one of you lived near me. It would be worth breaking my 70-200 2.8 off is one of your asses. And since I refuse to be like any of you (arrogant Ryan L) I will at least say what I know and that is Bill me Later Is the only one I know of. Jesus Christ who cares if somebody wants to pay interest on something. Maybe having the item NOW is worth some interest.  Who the hell are you to tell others what is better for them if they didnt ask?


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## Nikon_Dude

I've used the bestbuy card twice, once to buy my camera, again to buy my home theater system when I got my house. It's not that hard to keep a monthly payment. If you're short on cash, you can just pay the minimum that month, and there is no rule against paying extra. You just walk into the store and hand them cash. As long as you stay on top of it you're alright. And btw they will match amazon now case by case.


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## usayit

Dextermorgan said:


> .  Who the hell are you to tell others what is better for them if they didnt ask?


 
Who the hell are you to tell people what and how they should dish advice?

A school teacher of mine once said to my class that anyone who simply wants answers to a test is a waste of time.  I think that applies here as well.  I did provide information that the OP didnt know, was beyond the original scope,and was thanked for it.

so fu


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## Robin Usagani

Well it has been 9 months since I wrote this.  I didnt even realize someone bumped this thread.  Anyway I just ordered the 5D II.  The best thing is I used money I earned from photography!  Now I can shoot with 2 full frames (mk1 and mk2).


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## usayit

congrats...  youll enjoy it even more.. !


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