# How do you buy equipment?



## kennephoto (Apr 16, 2013)

Good morning everyone, I would like to know how most of you acquire your photo gear, do you pay cash for everything or is there a way to finace some gear at a lower rate than credit cards? I save money as much as I can but things come up and you have to pay for stuff, and so I put my photography purchases on hold and it seems like it stays there forever. I have a full time job and I make money here and there from photography but its annoying borrowing equipment or renting all the time and missing opportunities for great shots or business.


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## pierceography (Apr 16, 2013)

On the Internet (whoever has the best deal) with a credit card (which I pay off every month). 

The way I see it, unless you absolutely NEED a piece of equipment you probably shouldn't finance. If photography is mostly your hobby, then paying an interest rate on a hobby isn't a great decision.


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## Kristofgss (Apr 16, 2013)

Lend myself the money from my savings account and repay myself at variable intrest rates.


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## J.R. (Apr 16, 2013)

pierceography said:


> On the Internet (whoever has the best deal) with a credit card (which I pay off every month).



+1 



pierceography said:


> The way I see it, unless you absolutely NEED a piece of equipment you probably shouldn't finance. If photography is mostly your hobby, then paying an interest rate on a hobby isn't a great decision.



I don't know whether one can really say that ... people do a lot of weird stuff over their hobbies / stuff they don't really need ... like car(s) purchased on finance, for instance. Its just a personal preference. 

I usually wait for a deal and/or pay out of my savings account.


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## kennephoto (Apr 16, 2013)

I hear ya and I do the same thing pay off my credit card every month and haven't paid interest on either card. Guess I should as for a raise haha. What do you mean pay yourself at variable interest rates?


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## ksuweh (Apr 16, 2013)

I always pay cash for everything that I buy. A lot of my bigger purchases are bought with either bonuses that I get during the year or with my tax return. I do buy a lot of smaller items throughout the year as well. I have only bought things as I can afford them. Yes, doing it this way you will miss opportunities or have to rent things, BUT, the photography isn't bringing home the bacon, or even (in my case) self sufficient. You have another job that is supporting your photography habit/hobby/part-time job. Let it grow as you build your gear & experience.

The only other thing that I could possibly see is to get a small business loan & get what you want/need. I have considered this myself. This would only be if you are really pushing you photography & it isn't only a hobby for you anymore. 

I also buy online, usually at B&H. I live hundreds of miles away from anything remotely considered a camera/photography store.


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## Click (Apr 16, 2013)

pierceography said:


> On the Internet (whoever has the best deal) with a credit card (which I pay off every month).



+1


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## crasher8 (Apr 16, 2013)

Since all the local shops here have zero to no selection of finer gear I buy almost exclusively from B&H. During the past two years I did quite a bit of selling bodies and glass to fund new buys and with Canon gear having 95% of original cost resale value for like new gear it has been easy to do so. Now I'm in a happy place with what I have with little to no gear lust save for a new film body. (Thinking of switching from an Elan 7 to an EOS 3) I do use a card for my purchases but we pay all our bills off every two weeks. Credit card companies hate us.


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## Old Sarge (Apr 16, 2013)

I usually buy on-line for convenience sake (although I'm really a bricks and mortar type guy, I'm also a lazy guy that doesn't like driving the twenty + miles to the only REAL photography store near me, or the thirty + miles in Dallas traffic to a really good photography store) using a credit card which I usually pay off every month. I will buy from B&H or Adorama and use the Bill Me Later no interest for six months option. I sometimes use that option even if I have the money in the bank to pay cash. I never use it if I can't pay it off before the six months is over since the interest on most retail cards is ridiculously high.


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## Dylan777 (Apr 16, 2013)

I don't carry cash around much. I also don't use my debit card. I only use my american express CC on my purchases(earn 1point on every dollars), including all bills setup as auto pay. We got over $3500 cash back from last year spending.

The key is pay off your balance every months, then your credit scores will be 800ish. 

*NEVER NEVER NEVER  * buy any stuff if you can't afford it. *NEVER NEVER  * put balance on your cc just because your cc line is $20K -100K. Most cc companies are using compound interest to charge card holders.

Last but not least, buy it from authorized dealers bc it's your hard working/earning money.


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## pdirestajr (Apr 16, 2013)

I am "lucky", I can take the elevator down to ground level and directly enter Calumet without even going outside, or walk 4 blocks to Adorama, or take the Subway one stop to B&H... It's hard not to spend money, but my accountant always tells me I need more write-offs, so I am just following orders


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## kennephoto (Apr 16, 2013)

Dylan777 said:


> I don't carry cash around much. I also don't use my debit card. I only use my american express CC on my purchases, including all bills setup as auto pay.
> 
> The key is pay off your balance every months, then your credit scores will be 800ish.
> 
> ...



I do that every month and I have never made a interest payment on either one of my credit cards. So now I have a great credit score but nothing to do with it. There's stuff I want to buy but I feel I will never be able to get it at this rate. I would love to have a 70-200 2.8 II and a 24-70 2.8 II and a 100 2.8 IS. I guess I could try selling my 24-105, 60efs, and my 50d because after using the 5d2 I hate using the 50d viewfinder.


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## pierceography (Apr 16, 2013)

J.R. said:


> pierceography said:
> 
> 
> > On the Internet (whoever has the best deal) with a credit card (which I pay off every month).
> ...



Hence prefacing that sentence with, "The way I see it." It's certainly a matter of personal preference for me, but photography is a hobby. While I don't claim to be great with money, I try to finance as few things as I can (unless I can get some ridiculous interest rate). Big ticket items for most people need to be financed: Houses, cars, usually anything over a certain threshold. And while that lovely 600mm f/4 IS II would fall under the needing financing category for me, I simply can't justify it as I don't need it to sleep in, drive to work in, or make money with.

But, this is entirely a personal decision. If someone is comfortable putting a camera, lens, or other equipment on their credit card and paying it off monthly, then go for it. But that can quickly become a slippery slope... especially with photography, as I've found it can be quite addictive.


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## Rocguy (Apr 16, 2013)

I put a little into my savings account each month until I have enough to buy something. But I am not afraid to put the balance on a credit card if it is an amount I can pay off in 2 maybe 3 months. A month or 2 of interest won't kill me and is usually worth less waiting. 

And I also sell stuff I don't need/want/use anymore! Not just camera equipment. My paypal account, from eBay sales, makes for a great addition to my savings account. 

As to where? I live in a city with basically 1 photography store and they are more expensive than anywhere else. I don't even go there to browse. They once tried to give me a "deal" on a display model that I could buy cheaper brand new elsewhere. I buy online from wherever I can get the best deal. If prices are about the same I'll buy from Best Buy. Some people seem to not like them around here? But I love their rewards point program.


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## J.R. (Apr 16, 2013)

pierceography said:


> J.R. said:
> 
> 
> > pierceography said:
> ...



+1 ... especially regarding the 600mm  maybe I'll save enough by end of this year


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## ChilledXpress (Apr 16, 2013)

dilbert said:


> I buy equipment using money.



+1 that was going to be my answer too... With money, although I have thought about jacking some unsuspecting tourists (jking)


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## Krob78 (Apr 16, 2013)

kennephoto said:


> Dylan777 said:
> 
> 
> > I don't carry cash around much. I also don't use my debit card. I only use my american express CC on my purchases, including all bills setup as auto pay.
> ...


I always pay cash or debit. I have never bought any of my gear throughout the years with credit, not even back in the film days. 

Selling some gear that's not loved or used as often is a great way to put some funds together for your next purchase. I do that quite a bit. I settled for an ef 24-105mm L and I like it but I don't love it. I'll be putting it up for sale within the next week or two because I really enjoy loving the gear that I have moreso than just liking it.. but that's me. The point is that selling some gear you don't love or use that often is a great way to fund you're next purchase... It works!


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## Lurker (Apr 16, 2013)

BillMeLater where accepted. Gear usually gets no payment no interest for 6 mos. if paid in full within 6 mos..
I use this like others use CC, for the float. I have $ in hand to pay for the gear but why use my money if I can use someone elses for nothing.


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## neuroanatomist (Apr 16, 2013)

Day job pays for living/family expenses. Side consulting pays for the gear fund, everything is paid cash (in effect), nothing is financed. I usually purchase with CC online (B&H and Amazon mostly, Adorama on occasion), and I pay the charges off in cash as soon as they post. One notable exception - when I ordered my 600/4L IS II, I was on a work-related trip to New Jersey and I took the train into Manhattan to order in person from B&H...I paid in cash (with a _very_ large stack of $100 bills).


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## emag (Apr 16, 2013)

Lurker said:


> BillMeLater where accepted. Gear usually gets no payment no interest for 6 mos. if paid in full within 6 mos..
> I use this like others use CC, for the float. I have $ in hand to pay for the gear but why use my money if I can use someone elses for nothing.



Ditto. If I am willing to pay cash up front, then I'm willing to use someone else's cash up front and keep mine invested. I've used BML a lot for smaller things, larger items get the 18 months no interest via Best Buy. I've even been surprised while checking out at Best Buy and been told it's actually 24 months on occasion. Set up an auto payment from my checking account and that's it. But ALWAYS only for an item I'd be willing to pay cash for. Would be nice if this hobby could pay for itself at some point, but if it doesn't I'll carry on the way I have. I used to get decent annual bonuses from my employer but that's gone by the wayside as executive compensation has skyrocketed. Company can't afford both ya know.


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## Mt Spokane Photography (Apr 16, 2013)

I use a credit card, because I get a extra years warranty, a 2% rebate, and the ability to reverse the charge if I'm scammed. I also get loss or damage insurance for a limited time.

I always pay my cc in full. If you need equipment for a business, in the USA, there are always small business loans available, usually at a low interest.


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## Dantana (Apr 16, 2013)

I only buy what I can pay for right then, cash, Paypal, or Amex, but pay it off at the end of the month. I don't make any money directly from my habit, so I can't justify overspending or financing anything. Just the cost of living in the LA area has the budget fairly tight. Of course living here also provides some great photo opportunities.

To quell the urge to buy new stuff, I've been picking up older gear on eBay. I know it's a gamble, but it reminds me of going to camera shows to pick up used gear when I was younger. Picked up a Spotmatic for the Super Tak that came with it, but now I'm interested in trying out the camera too.


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## RGF (Apr 16, 2013)

Now retired and my wife supports me (at least for another few years). Until last year we were DINK (Dual Income, No Kids - though our Golden Retriever is rather spoiled). 

Purchase on credit card, pay the credit card when it comes due. Collect airline miles to upgrade.

Currently on a 12 step program ;D , weaning myself off the bag of the month club and lens of the week club. Finding I have too many lenses I don't use so I plan to sell 4-5. Already sold 4. Plus a half dozen camera bags need to go.

All to help afford new Great Whites including the 200-400 this fall (I hope).


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## Mt Spokane Photography (Apr 16, 2013)

RGF said:


> Now retired and my wife supports me (at least for another few years). Until last year we were DINK (Dual Income, No Kids - though our Golden Retriever is rather spoiled).
> 
> Purchase on credit card, pay the credit card when it comes due. Collect airline miles to upgrade.
> 
> Currently on a 12 step program ;D , weaning myself off the bag of the month club and lens of the week club. Finding I have too many lenses I don't use so I plan to sell 4-5. Already sold 4. Plus a half dozen camera bags need to go.


I have too many lenses and bags as well.

I sold 2 cameras and 8 lenses in the past two weeks, but only two bags. That leaves me with a dozen bags and still too many lenses. Only 5 digital cameras left.

I'll be selling more. I might buy a superzoom and sell off a DSLR and a P&S body. I like the idea of having a small superzoom in the car to capture the frequent wildlife opportunities that we see in our area.


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## JPAZ (Apr 16, 2013)

The vicious cycle......

1) Purchase photo gear with credit card (pay off every month) to earn miles; 2) Use miles for trip to use said gear; 3) While using that gear on trip, realize there is yet another piece of equipment you "must" have for that purpose; 4) Return home and start by purchasing that photo gear to earn even more miles and do it again!

I have offset this from time to time selling old stuff or using 6 mo "same as cash" but it is not as exciting!


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## Dylan777 (Apr 16, 2013)

RGF said:


> Now retired and my wife supports me (at least for another few years). Until last year we were DINK (Dual Income, No Kids  - though our Golden Retriever is rather spoiled).
> 
> Purchase on credit card, pay the credit card when it comes due. Collect airline miles to upgrade.
> 
> ...



NICE :

I'm in the mid 30yrs and my wife is in early 30yrs. We have 2 kids(4&2yrs). We are so DAM busy with family life...no times for anything else.


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## 7enderbender (Apr 16, 2013)

kennephoto said:


> Good morning everyone, I would like to know how most of you acquire your photo gear, do you pay cash for everything or is there a way to finace some gear at a lower rate than credit cards? I save money as much as I can but things come up and you have to pay for stuff, and so I put my photography purchases on hold and it seems like it stays there forever. I have a full time job and I make money here and there from photography but its annoying borrowing equipment or renting all the time and missing opportunities for great shots or business.



Photo and music gear is non essential for me and at this point (for the most part) just a "hobby" (with the occasional paid gig but nothing major). So I save up for it or use "extra" money (if there ever really is such a thing) and literally buy with cash at local stores (at least the main pieces such as cameras, lenses, guitars, amps, etc). Some specialty items of course you can only get online but otherwise I like supporting the local stores and hand pick my stuff. The price difference is usually marginal.

What is it that you are renting (a lot)?


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## cayenne (Apr 16, 2013)

kennephoto said:


> Good morning everyone, I would like to know how most of you acquire your photo gear, do you pay cash for everything or is there a way to finace some gear at a lower rate than credit cards? I save money as much as I can but things come up and you have to pay for stuff, and so I put my photography purchases on hold and it seems like it stays there forever. I have a full time job and I make money here and there from photography but its annoying borrowing equipment or renting all the time and missing opportunities for great shots or business.



I buy a lot from Amazon.com. I have their store card, and for certain amounts of purchases, I get 6mos up to 12mos interest free. I do that and pay them off before interest sets in.

I've gotten some $$$ gear from Crutchfield, and entered their points rewards system. I bought my 5D3, kit lens and 85 f/1.8 from them...first purchase bonus points, plus found coupon code to double those rewards points.

Next time things went on sale, I got my 70-200 f/2.8 II USM L lens for about $1490 or so (i'd have to look up exact figure). Again, they offered 'instant financing' on site, I have on that one I thinik 6 mos interest free. I set up auto pay from my checking account and will have it paid off by close of deal date.

I order off the internet. No sales tax charged from any of the online sites to my state, and I take advantage of free shipping and interest free financing.

I'm the type of person that HAS the money in the bank before I buy things, I'll never get into credit card h*ll again, it took awhile years back to get out of it. But I will take advantage of interest free charge/financing...and keep my cash in the savings drawing interest and let those companies 'pay' for my financing of nice shiny toys.

cayenne


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## lilmsmaggie (Apr 16, 2013)

Money? You mean that fiat currency they call the dollar? ;D

I use to have money until my divorce took most of it in spousal support and attorney fees. Then after the system and my Ex decided that I wasn't the walking wallet they assumed I was, Arnold Schwarzenegger decided to furlough California state employees (yeah, I'm one of those). That was the straw that broke the camels back. I had to file for bankruptcy. Then the transmission on my 15 y/o hoopty went south.

And Jerry Brown came in and decided we needed to be furloughed some more 

So now, everything is pretty much on a cash basis. 

But seriously, I use one hobby to fund another (or at least I did). I collected coins and paper currency. Sold off most of my coin collection and all of my paper currency collection. I also have way too many cameras. I think I'm down to 3 film bodies, several lenses for those cameras; 3 DSLR's and a few lenses; and a P&S. I've bought and sold on eBay and have a few bucks in my eBay acct that I use now and again. I also sell on various photography forums (and Astromart) to fund new gear purchases. I bought all but two large format lenses (Schneider & Rodenstock) I had for my 4x5 kit from KEH, then later sold them on the large format photographers forum for just about what I paid for them. With the exception of a Leica M5, I'd like to sell off the remainder of my film gear. I wait until after I get my tax refund to buy some things.

Bottomline: If I ain't got the moolah - I don't buy it.




dilbert said:


> I buy equipment using money.


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## tiger82 (Apr 17, 2013)

I wait until some yahoo upgrades to a new release so I can buy a barely used, under 5000 actuation pro camera.


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## tiger82 (Apr 17, 2013)

crasher8 said:


> Since all the local shops here have zero to no selection of finer gear I buy almost exclusively from B&H. During the past two years I did quite a bit of selling bodies and glass to fund new buys and with Canon gear having 95% of original cost resale value for like new gear it has been easy to do so. Now I'm in a happy place with what I have with little to no gear lust save for a new film body. (Thinking of switching from an Elan 7 to an EOS 3) I do use a card for my purchases but we pay all our bills off every two weeks. Credit card companies hate us.



On the contrary, they get the 3% fee and their money back in two weeks, CC companies love you. The proof is the offers you get for new cards.


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## eml58 (Apr 17, 2013)

Kristofgss said:


> Lend myself the money from my savings account and repay myself at variable intrest rates.



Thats actually very funny, and I agree, it's still the best way to buy anything, often the only way, but still, very funny.


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## Kristofgss (Apr 17, 2013)

kennephoto said:


> I hear ya and I do the same thing pay off my credit card every month and haven't paid interest on either card. Guess I should as for a raise haha. What do you mean pay yourself at variable interest rates?


It means that on months when there is a lot of money left, i repay more, on months when there is less left, I repay less. In the end, I repay a little more than I took, so my savings account ends up with a net profit. (it's kinda linked to what my wife looks good in and how much the latest drresses cost as well


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