anyone taken out a loan for their fish tanks?

[areze]

being that these large tanks could be upwards of 10's of thousands of dollars. (one thread shows basic prices of 45k) any of you built a tank off a loan?

I doubt youd get a loan for the fish tank, but I mean, maybe out of a home equity line of credit?

 

[areze]

edit I know any mention of money is a touchy subject for some. I dont mean for any details or anything, just the concepts of doing such a thing.

 

[sherm71tank]

Like have I ever used a CC? Uh. . . yep!

 

[areze]

well a CC is a given but I mean the initial bulk of the purchase, with the payoff being in the terms of years not months.

you think 40k is a doable amount by some for a car loan, 6 or 700 a month for 5 or 6 years. thats feasible, alot of people could afford a car payment, not so many affording a car for cash.

 

[sherm71tank]

I'm not getting into that in case the wife reads this!!!

 

[LauraCline]

As a mortgage broker, I can tell you....yes. People take equity lines and refinances with cash out for everything you can possibly imagine.

 

[Ruu]

I'm still waiting on the final quote from the builder for my new custom tank. I should know whether I'm going to be selling myself on e-bay within a week.

Dave

 

[SVTour]

Funny you posted this, as I was talking with my wife about it the other day. I have no idea how some people here can toss 10 to 20 grand into a tank like there's no problem.

And I thought I was doing pretty good in life till I came here :lol:

For my situation, I had close to 4 grand invested in my 90 before upgrading to the 220 (which was over 2 years). I have about another 2 G's in getting my 220 up to speed...and have budgeted another 4.5 to get this where I want it (minus livestock / food / salt). I have some on a CC due to how I wanted the set the deposit for the tank...but have plans on paying it off immediately. For me, it's pretty much a 'need to have the cash to buy'. All that being said, Iââ"šÂ¬Ã¢"žÂ¢m pretty jealous of others hereââ"šÂ¬Ã‚¦

 

[PalmTree]

As with everyone else I do have many charges on the plastic going towards suppiles and such. All the major stuff I won't buy unless I have the green in my hand. I would hate to have to pay all the APR on a $3K charge. I'm cheap in a wastful way!

 

[Bebo77]

I saved up for a year or so before i upgrade to my 300 gallon. I don't like debt...

 

[Princess Di]

I would personally never borrow money for a tank. Pay as you go, for me. I used inheritance money for my big tank.....which gives me a thought....my husband's life is insured for quite a bit....hhmmm

 

[Johnsteph10]

A loan for a fishtank? Now, that's scary!

 

[areze]

yeah I guess Im not in that frame of mind, I suppose some people can drop 50k+ in cash. Im not one of them.

 

[PalmTree]

Its scary thinking about droping 50K for a tank! Thats a down payment on an entire house in NY! To think that you can spend so much cash on something you can't live in. Well... I guess you could...

 

[kwl1763]

I would never borrow for any hobby. I spend only what I can afford. If it gets to be to much time to downsize. Fortunatly I have not had to do that.

 

[asmodeus]

Heck i make it, i'm spending it. Once the family is taken care off , im buying toys. The wife works too which is a awesome thing too. I get paid on one week she gets paid on the other week. its that easy


man i love my hobby.



:bum:

 

[BrianPlankis]

I used a CC when I started my first tank, a 29gal. Then I added a 55gal tank, also on the CC. It was about that time that I realized how much interest I was wasting on the CCs and school loans. I tore both tanks down saving key equipment and waited until last year when all my debt was gone to start again.

Now everything is pay with cash and I do as much fragging and trading as possible to keep costs down.

My wife said I could have a dedicated fish room in the next house and any selling I do out of this tank will be added up as a running total. Once I have enough credits in that running total I can upgrade. Pretty strict, but fair in my eyes, and my family and education comes first. Obsession...er Hobby...a distant third.

B.

 

[jimroth]

I wouldn't do it. I've been buying the expensive things for my new tank bit by bit over the course of a year, when I have some extra money. Kind of the layaway plan. Sometimes it seems I'll never have all the equipment though.

 

[simple_joe]

I do not know if this is the same, but when I took a second on my home for a remodel, part of that was appropriated for the built-in tank.

 

[blide]

Save up a bunch a cash then get one of those CC that pays you 1 or 2 percent back! Then you could actually reduce the costs of a system.