Many gun collectors prefer to pay cash for their purchases. This keeps these often complex transactions as seamless and hassle-free as possible. It also allows buyers to take their merchandise home right away. It’s not uncommon, however, for people to seek gun financing when considering products that lie outside of their immediate budgets. The good news is that there are multiple options in gun funding that consumers can pursue. Following are the top three.
Despite the politically sensitive climate, many big-name companies offer gun loans that come with affordable interest rates and reasonable terms. For a very long time, General Electric (GE), was one of the top names in the gun loan industry. Sadly, however, as control be comes an increasing issue, many manufacturers are only opting to work with consumers who can pay for their purchases upfront. This includes GE, which recently pulled its funding products to avoid negative publicity. Thus, although these funding solutions still exist, these offers are fast becoming few and far between.
Gun Layaway Plans
A number of companies are offering layaway programs. These are ideal for consumers who want to limit their spending on interest and who don’t have an immediate need or use for their selections. With layaway, buyers can make a number of affordable payments over a 60 to 90-day period. Once their payments are made, their guns are either presented in-store or shipped, depending upon how these transactions were initiated. Layaway programs often come with an initial, upfront fee, but do not entail interest. Thus, the listed cost of the gun will ultimately be the final cost that the consumer pays, apart from any associated and relatively nominal, transaction fees.
Buy Now, Pay Later Programs
The primary difference between a layaway plan and a buy now, pay later program is the time at which you’ll be able to claim and use your purchase. In most instances, these programs function a lot like gun loans, but rather than being offered by major entities like GE, they are instead supplied by actual gun stores. This means that consumers may be able to complete their paperwork and obtain their merchandise on the very same day, which is not the case with the typical layaway plan. There are, however, a few drawbacks to consider. Given that these loans are being offered by smaller companies, they’ll generally have higher interest rates to account for the greater risk that these less-established businesses are taking on. As such, consumers will invariably pay more for their purchases overall when compared to the costs of using either layaway plans or traditional gun loans.