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  • Simple Question

    cash or credit?? ok i'll go on i've been selling scrollsawn plaques since october for a little money here and there. all i have for tools at present is a TS, old router and my scrollsaw. i see the potential for a lot more sales if i branch out into other items (clocks, shelving, etc). i'd like to buy a 14" bandsaw immediately and a planer and jointer in the next 3-6 months. problem is, should i put it on a line of credit or be patient and wait until i have the cash??? should i buy new or again be patient and wait until something used comes up??

  • #2
    Neither question can really be answered objectively. If you have good credit, rates are so low that "12 months same as cash" deals are all over the place. But that could limit your vendor selection. But cash or credit is a very personal decision you should base on your circumstances and philosophy, not mine.

    Do you want a riser kit? Are you going to resaw lumber?

    If I were you, I would go to your local big boxes and woodworking stores and see what they have and then ask about those specific models.

    You are talking about taking orders and doing this as a business - buy new unless you just happen on a great deal. But since you are asking, my assumption is that you don't have enough knowledge about bandsaws to know for sure (no disrespect intended). That's also why I recommend over the counter sales.
    -Andy

    Comment


    • #3
      Credit or cash

      I believe that this is a very personnal choice.

      But here is my opinion. Don't use credit to but many tools at once. The finacial struggle can come up very high in a very shot period of time.

      Sometime (depends on the card) purchases made on a credit card extend warranty for up to one year. But with the card and refund the card right after.

      Another thig, Purchasing your tools one a at the time peermit you to investigate what tools are good, best and average and what are your real needs. For example, you might not need a 1400$ tablesaw and a contractor saw one for 500$ might just be what you need.

      Dewalt-Delta-PorterCable (it is all the same company) have store that sells refurshied tools all across Canada. Most of the time these tools are tools that arrived in the DIY stores with a damaged box and are retured to this refurbishe center. They are still new. Some other times they are demos from stores (that has never been uses). You often save 40 % on these tools.
      Go on the Delta machinery site www.deltamachinery.com, find their 1-800 phone number and they will telle you where is such store in your area.

      Instead of paying credit charges for a loan on tools, save your money, go in those centers and get better tools for the same money.

      Also, here is a very good site for tool review http://www.newwoodworker.com/

      Enjoy your shoping.

      Comment


      • #4
        Originally posted by arbarnhart
        Neither question can really be answered objectively. If you have good credit, rates are so low that "12 months same as cash" deals are all over the place. But that could limit your vendor selection. But cash or credit is a very personal decision you should base on your circumstances and philosophy, not mine.

        Do you want a riser kit? Are you going to resaw lumber?

        If I were you, I would go to your local big boxes and woodworking stores and see what they have and then ask about those specific models.

        You are talking about taking orders and doing this as a business - buy new unless you just happen on a great deal. But since you are asking, my assumption is that you don't have enough knowledge about bandsaws to know for sure (no disrespect intended). That's also why I recommend over the counter sales.

        yes i'd like a riser kit to resaw. i'd also like at least 1HP.

        Comment


        • #5
          I may have jumped to a quick conclusion about your knowledge; I based it on your question being so open ended. Two things about resaw - 1) if you get a riser kit, do it as part of the inital purchase so you always have the right length blades. 2) Look at the next size up and think it over

          Here is something to look at if you are comfortable enough with the idea of getting something shipped:

          http://www.grizzly.com/outlet/G0570

          That's an industrial 14" with the resaw height already built in, 1.5 HP and a "Bill Me Later" link at the bottom. It's on closout for about $750 US delivered. It is a very heavy duty wood cutting bandsaw (fixed speed, which can be a problem if you want to cut some other materials). I doubt you will find a better heavy duty saw for the money.

          Their "ultimate bandsaw" with a riser is another good choice:

          http://www.grizzly.com/products/G0555
          and add:
          http://www.grizzly.com/products/H3051

          you would spend less than $600 and have a 1HP 2 speed machine that would resaw slower, but also let you cut more materials.

          Compare anything you look at to those specs and prices. Again, I think credit versus cash is a very personal decision. I only pointed out that it is available on those machines so you can consider your options. Also, if I were shopping for a bandsaw to use for production work, those are the two I would consider fits, but there are plenty of other options out there.

          As a hobbyist, I would also consider going to my local big box store and getting the $350 Rigid and ordering the riser (they typically don't have them on hand) and I would even go look at Harbor Freight (I would only get a big tool from them over the counter with the extended NQA warranty) because there is one in town. Those are options that bring the price down, but the quality drops as well. A drop in quality on the bandsaw usually means you might have to buy some after market stuff like better tension springs and that you will have to spend more time fiddling with it to get it right, possibly returning the first unit or parts from it (under warranty, of course) to get it right. But if you don't have the money and you do have the time and expertise, you can end up with something that cuts as well and accurately.
          Last edited by arbarnhart; 01-07-2006, 09:27 AM.
          -Andy

          Comment


          • #6
            Hi Novascroller

            The best businesses are self-financing!

            My thought is that if you have a solid business it should be able to generate sufficient income to buy additional tools. I wouldn't want to be selling my products to keep a bank manager in employment .

            Gill
            There is no opinion, however absurd, which men will not readily embrace as soon as they can be brought to the conviction that it is readily adopted.
            (Schopenhauer, Die Kunst Recht zu Behalten)

            Comment


            • #7
              Cash or Credit??

              Just my opinion but I've gotta agree with Gill. When you consider time and materials....especially time, you're generally working for less than minimum wage. Even a low interest rate eats into profits and doesn't leave much for replenishing stock. I've been eyeing that 13 inch DeWalt planer for months now but I'm going to wait until I have enough cash in my cookie jar to pay for it....of course by then there will probably be a newer model out that costs more!!! LOL!!
              If it don't fit, don't force it....get a bigger hammer!!

              Comment


              • #8
                If I may throw my 2 cents in here. First the part about cash or credit no one here can answer that one no matter what story they tell you. No one here knows your finacial situation so that is a question for yourself. Now There are so many factors and hope your eyes are not getting bigger than your budget. Things to look at you say you want to make woodworking a business. First are you working a full time job now I have not checked your bio and do not want to so bear with me. How are your finances? how many hours are you willing to work at starting a business especially scrollsawing. I can tell you this the market for scrollsawn items is not good and dwindling. People are not willing or can not pay top dollr for items we put many hours into. Yes you can do stack sawing and all but it has to be a product that is wanted. How are you at the business end of the deal? Can you do both the work and run a company. Do not forget you have to get out there and advertise yourself. You can not rely on a web site. Buying tools always buy the best you can afford. If you start a business you can write the tools off to the business so I would stay away from used unless you know the history. Buying tools do your homework and don't buy something because it has alot of bells and whistles. Just more to go wrong. Buy the basics and then go from there. The rest will fill in around them. You may decide to do flat work such as furniture so you would have the basic tools but need more tools geared for that.

                Like I said there are so many factors here and I think your best bet is to take your abilitys to the next level. If you are doing craft shows try doing more. Try diversifying what you are making. You can buy dimensioned lumber on the net or at a hardwood dealer in your area before spending money on planers and jointers. A good tablesaw is the heart and soul of any woodworking shop and you can grow from there. I know these are not the answers others are giving you and may not be what you want to hear but stop and think it through before committing. Just an opinion. Do not think I am discouraging you by no means do what you feel is right but reality does set in. Have people made a living at woodworking the answer is yes and those are the people to talk to.
                John T.

                Comment


                • #9
                  Originally posted by arbarnhart
                  I may have jumped to a quick conclusion about your knowledge; I based it on your question being so open ended. Two things about resaw - 1) if you get a riser kit, do it as part of the inital purchase so you always have the right length blades. 2) Look at the next size up and think it over

                  Here is something to look at if you are comfortable enough with the idea of getting something shipped:

                  http://www.grizzly.com/outlet/G0570

                  That's an industrial 14" with the resaw height already built in, 1.5 HP and a "Bill Me Later" link at the bottom. It's on closout for about $750 US delivered. It is a very heavy duty wood cutting bandsaw (fixed speed, which can be a problem if you want to cut some other materials). I doubt you will find a better heavy duty saw for the money.

                  Their "ultimate bandsaw" with a riser is another good choice:

                  http://www.grizzly.com/products/G0555
                  and add:
                  http://www.grizzly.com/products/H3051

                  you would spend less than $600 and have a 1HP 2 speed machine that would resaw slower, but also let you cut more materials.

                  Compare anything you look at to those specs and prices. Again, I think credit versus cash is a very personal decision. I only pointed out that it is available on those machines so you can consider your options. Also, if I were shopping for a bandsaw to use for production work, those are the two I would consider fits, but there are plenty of other options out there.

                  As a hobbyist, I would also consider going to my local big box store and getting the $350 Rigid and ordering the riser (they typically don't have them on hand) and I would even go look at Harbor Freight (I would only get a big tool from them over the counter with the extended NQA warranty) because there is one in town. Those are options that bring the price down, but the quality drops as well. A drop in quality on the bandsaw usually means you might have to buy some after market stuff like better tension springs and that you will have to spend more time fiddling with it to get it right, possibly returning the first unit or parts from it (under warranty, of course) to get it right. But if you don't have the money and you do have the time and expertise, you can end up with something that cuts as well and accurately.

                  thanks for the info but Grizzly doesn't ship to canada.

                  Comment


                  • #10
                    credit cards will allow you to "impulse" buy and may cause more problems than you really want-- like losing a payment or money for silly things like food.My advice is to spend only what money you have and not what they will let you pay later for. Also you may consiider second hand tools-sometines a pawn shop or individual has a almost new tool at a fraction of the cost but try to rember the price of the item brand new- sometimes new is cheaper than used.

                    Comment


                    • #11
                      thanks so much for all the information. i think i'm just going to be patient and wait until the money jar has enough cash in it before i rush out and buy the tools. i really appreciate all the responses.

                      thanks,
                      graham

                      Comment


                      • #12
                        One thing I haven't seen mentioned much anywhere (although my following of the news is spotty) is that last year they passed a bill allowing credit card companies to double your minimum payment. That means if you are paying $200 on credit cards that you may shortly have to pay $400. I advise folks never to charge anything unless it's something you HAVE to have immediately.

                        Comment


                        • #13
                          fortunately i don't have any credit card debt but good to know just the same.

                          Comment


                          • #14
                            Despite the problem with actually getting Grizzly machines, those two models are good reference points for looking at others. On the high end, you get cast iron wheels, roller guides, resaw capacity and a horse and a half all standard. On the consumer grade, you see aluminum wheels, regular guides and about 1 HP on most models plus you have to add resaw. As I said in the original post, the prices and features are good for comparison.

                            As far as credit goes, it is a very personal decision, but the few things I bought on credit the last couple of years cost me nothing in finance charges. HD is currently offering free for 6 months on anything over $299. Right now Lowes deal on that says it has to be an appliance, but they offer it on tools every now and then.
                            -Andy

                            Comment

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