Dismayed Over the New Sweetwater/Synchrony Tax

watelessness

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Joined
Apr 26, 2012
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2,872
I like free money, I really really do. For years I've enjoyed Sweetwater's 0% financing option, but now they are adding a 2% surcharge if you go that route, making it no longer free money. Hopefully they'll drop their prices 2% to compensate for the new tax. 😡
 
Musician's Friend Is Still The Best Way To Go On The Big Box Stuff If They Carry What You Want And You Can Get Your Price. You Get The Negotiated Price, The Financing Terms And A Percentage Back In Points. No Other "Store" Does That.
 
And, being the bummer I am, I will again offer a friendly reminder, that using a finance company for these type of loans WILL lower your credit scores. Maybe not a lot. Maybe not enough to matter. But it will happen and for many a few points means you pay more for other things.

I’ll say that if I wanted something I’d consider it because my home is paid off, I just got two new cars in the last 18 months and won’t need a new car loan any time soon, etc., and I know my real credit scores are high enough that it wouldn’t knock off more than a couple points, since it would be the only loan of that type in 20 years (which also matters).

Follow me for other buzz killing credit tips!
 
And, being the bummer I am, I will again offer a friendly reminder, that using a finance company for these type of loans WILL lower your credit scores. Maybe not a lot. Maybe not enough to matter. But it will happen and for many a few points means you pay more for other things.

I’ll say that if I wanted something I’d consider it because my home is paid off, I just got two new cars in the last 18 months and won’t need a new car loan any time soon, etc., and I know my real credit scores are high enough that it wouldn’t knock off more than a couple points, since it would be the only loan of that type in 20 years (which also matters).

Follow me for other buzz killing credit tips!
Sometimes Not Enough Trade Lines Can Hurt You More ThanHaving Too Many. There Are So Many Factors That Come Into Play...Ratios, HighLimit, Amount Available, Payment History, Income, Etc Etc. They Will Try To Nail You One Way Or Another if They Can. It is All A Game Really..Learn The Game, .Play Their Game And Beat Them At It.
 
Sometimes Not Enough Trade Lines Can Hurt You More ThanHaving Too Many. There Are So Many Factors That Come Into Play...Ratios, HighLimit, Amount Available, Payment History, Income, Etc Etc. They Will Try To Nail You One Way Or Another if They Can. It is All A Game Really..Learn The Game, .Play Their Game And Beat Them At It.
The problem being, most don’t really know the rules to the game.
 
Regards financing a larger purchase; I've always paid up front or in case of a PRS SE A60E a couple years ago, chose financing for 6 months no fees. Within 2-½ months time, that loan was paid for. Have seldom if ever taken out a bank loan, asked for a credit increase.

A good credit score is a fleeting thing that can vanish with one or two ill-timed luxury expenses. That being said, I don't buy because of a seemingly too good opportunity, or just because the item in question is uber-desirable.

Yet, regards Sweetwater, there is something I can say in defense of a large corporation regards its customer service policy. This past April 2024, I purchased a D'Angelico Premier Mini DC XT VS and submitted my warranty registration. From about mid-April, the Premier hung on a guitar hanger, untouched until the end of October this year.

Desiring some practice time with the Premier, one Monday late afternoon, I plugged the Mini into my Fractal FM9. Everything felt just the way one might expect. Yet, about 45 minutes into practice, the bridge pickup began cutting out intermittently. Although unable to diagnose the issue myself, it sounded like a cold solder joint. A quick call to my Sweetwater got the ball rolling. Since the guitar was still less than a year old and less than a year from Sweetwater, my rep emailed me a UPS RMA at no charge. Packing the guitar up tight in a gig bag with one layer of carton, the guitar was brought to the UPS Store locally for shipment.

The guitar arrived at Sweetwater Oct 30th, Wednesday. My sales rep said he'd contact me once they'd inspected the guitar. October 31st, with about 30 minutes before leaving for work remaining, my sales rep apologized, but there was irreparable lower left quadrant body damage that occurred likely during shipping. My sales rep provided documentation of the damage, and suggested one of the comparable D'Angelico models as a replacement. It took less that 10 minutes to choose, and although the option for Seymour Duncan was not part of this, a D'Angelico Premier Mini DC BrownBurst 7.6 lbs. was delivered this past Monday.

As part of their 55-point inspection, Sweetwater's tech crew performed fret leveling and cold solder joint inspection at no added charge prior to shipment. Here is a Pixelmator photo editing rendition of 2 images taken this evening.

While Sweetwater typically doesn't respond to criticism from social media, that does not mean it doesn't take notice of it. I prefer to be thankful for a corporation that stands behind its product to the extent of replacing its product no questions asked.

bByB9CW.jpg

gNLYSVn.jpg
 
Dave Ramsey! haha.... debt is debt and it's ALL bad. If you got 0% you paid too much, cash is king.
 
And, being the bummer I am, I will again offer a friendly reminder, that using a finance company for these type of loans WILL lower your credit scores. Maybe not a lot. Maybe not enough to matter. But it will happen and for many a few points means you pay more for other things.

I’ll say that if I wanted something I’d consider it because my home is paid off, I just got two new cars in the last 18 months and won’t need a new car loan any time soon, etc., and I know my real credit scores are high enough that it wouldn’t knock off more than a couple points, since it would be the only loan of that type in 20 years (which also matters).

Follow me for other buzz killing credit tips!
my credit score is awesome. my only debt is a mortgage; pay cash for everything else. with previous 0% financing offers i could earn interest by deferring the payments. now the 2% tax makes it less cost effective. cha-cha-cha-changes...
 
my credit score is awesome. my only debt is a mortgage; pay cash for everything else. with previous 0% financing offers i could earn interest by deferring the payments. now the 2% tax makes it less cost effective. cha-cha-cha-changes...
Interestingly, the last time I checked my credit score, it said I lost points for lack of mortgage data. I paid it off over 20 years ago.
 
my credit score is awesome. my only debt is a mortgage; pay cash for everything else. with previous 0% financing offers i could earn interest by deferring the payments. now the 2% tax makes it less cost effective. cha-cha-cha-changes...
That's why I was offering credit tips, and not financial advice. I have clients who have never paid a bill late in their life and have mediocre or even poor credit scores, because of the way they use credit. They pay more for everything they buy because of it.

And on the cash vs. credit, that is a a choice of tradeoffs as well. On the car we got 2.9% financing so I didn't even consider taking over $40K out of the bank to pay cash for it. And, while we planned to pay it off in half the loan time, we probably won't now since we got the truck and the car rate is so low. The new truck we just got, we got 5.9% but with our trade, we only borrowed $24K on a new 3/4 ton HD truck so again, I'm not concerned with 5.9% as we'll pay it off in 2 years and leave all that money in the bank. Cash in the bank is always a safety net against anything that happens or any needs that arise, but having a balance of open credit accounts is advantageous as well for most people.
 
That's why I was offering credit tips, and not financial advice. I have clients who have never paid a bill late in their life and have mediocre or even poor credit scores, because of the way they use credit. They pay more for everything they buy because of it.

And on the cash vs. credit, that is a a choice of tradeoffs as well. On the car we got 2.9% financing so I didn't even consider taking over $40K out of the bank to pay cash for it. And, while we planned to pay it off in half the loan time, we probably won't now since we got the truck and the car rate is so low. The new truck we just got, we got 5.9% but with our trade, we only borrowed $24K on a new 3/4 ton HD truck so again, I'm not concerned with 5.9% as we'll pay it off in 2 years and leave all that money in the bank. Cash in the bank is always a safety net against anything that happens or any needs that arise, but having a balance of open credit accounts is advantageous as well for most people.
Yeah, we bought a 2021 Subaru Outback when they were offering 0% financing. I use 6 month financing on Paypal and Sweetwater purchases and I always pay more than the monthly amount and make sure there are no late payments. This is the only debt I have, and my credit score is in the 800s. Gives me time to buy something and spend six months to sell something else.

On the other hand, if I'm getting a good discount I will pay cash.
 
leave all that money in the bank. Cash in the bank is always a safety net against anything that happens or any needs that arise, but having a balance of open credit accounts is advantageous as well for most people.
Side Note Rant - Cash In Hand Is Even Better And Even Better Than That Is Having Your Money Pegged to A Tangible Hard Asset Like Gold Or Silver, Especially Right Now. I Am Not A Big Fan Of Banks But They Are a Necessary Evil In Most Cases. The Problem Is When You Put Your Money In The Bank It Really No Longer Is Your Money In Some Instances When A Bank Goes South...And They Do Go Under And There Are Bank Runs. I Know....You Will Say Your Funds Are Covered Under FDIC But That Is Only Up To $250K. The Only Problem Is The FDIC Is Nowhere Near Capable Of Covering Everybody If The Banks Go Under. The Same Idea Is If We All Walked Into The Bank At The Same Time And Wanted To Withdraw "Our" Cash. They Don't Hold Anywhere Near The Amount Of Cash To Make Everybody Whole In That Instance. So...If A Bank Fails, And They Do...Silicon Valley Bank Is Just One Example Of Many And You Have Over $250K In That Institution, You Are Toast And Good Luck On Quickly Getting Your FDIC Money Quickly. Most People Don't Have Any Idea What Their Fine Print On Their Bank Accounts Really Say And What That Really Means For Them In A Rare Situation Like A Bank Collapse Or Bank Run But It Does Happen. Your Money Isn't Really Your Money In Every Situation When The Bank Holds It. The Same Goes With Safety Deposit Boxes In Those Same Situations. It Is A Scary Thing When The Government Just Prints Money At Will And Your Currency Is Not Tied/Pegged To A Physical Asset Like Gold Or Silver, Commodities, Etc.

It Is Something To Be Aware Of And Think About.
 
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