Camera on Layaway

Bigbobdallas

This might sound stupied but first I am in The Dallas/Ft Worth Texas area.
I have been thinking of saving up for a camera, but I just can't seem to save money at all.
I can though put something in layaway and pay it off but saving just can't hardly do that. Going to try and spend about $1000.00 on a camera or even just a body. Now does anyone know of a place that will let you put it on layaway. Like maybe here in Dallas area.

TristanP

Dont know about layaway, but ING Direct could certainly help with the savings. I can even get you some free money with them.

claudermilk

TristanP wrote:

Dont know about layaway, but ING Direct could certainly help with the savings. I can even get you some free money with them. </shameless plug>

That idea actually works. I set up an account with them for the express purpose of forcing myself to save. So far it's helped me get the 24-70/2.8L, Tokina 12-24, and a vacation with which to use them. Now I'm starting to build my 70-200/2.8 (maybe IS) fund. I read a few horror stories about getting funds out, but if you plan a week ahead it's no big deal.

Nikolai

Big Bob
First of all, welcome to Dgrin!
Second, as an alternative to ING Direct... Open a business Paypal account. subscribe to their Savings plan (Non-FDIC) or whatever they call it, and start putting your money away bit by bit. This way you'll get some nice interest and you'll have the funds exactly where you need them when you need them, since most of the used transactions are paypal based..

HTH

gus

I often see Nikon 70 D's going for well under $500 with just a handfull of actuations & new XT350's for under $500 as well.

Just my idea but if i was you i would start there...its half price & both are extreamly capable cameras.

BeachBill

claudermilk wrote:

I read a few horror stories about getting funds out, but if you plan a week ahead it's no big deal.

They've made it a lot easier now that Electric Orange is available (online checking account). Along with bill pay/electric checks, you get a Mastercard debit card that you can use at any ATM or retailer. You can move money instantly between savings and checking. I've switched entirely over to ING Direct for both savings and checking now.

Bigbobdallas wrote:

I can put something in layaway

My opinion, stay away from layaway. What if the price drops while it's in there? What if a newer, better version comes out? ING Direct savings pay 4.5% interest and your money is FDIC-insured. I've had an account with them for three years and have been extremely happy.

ziggy53

BeachBill wrote:

...
My opinion, stay away from layaway. What if the price drops while it's in there? What if a newer, better version comes out? ING Direct savings pay 4.5% interest and your money is FDIC-insured. I've had an account with them for three years and have been extremely happy.

I very much agree. Lay away locks you in to a restricted purchase path, with no real advantages. Some places don't offer "lay away" any longer because so many customers wanted to "change their mind" later.

dogwood

What about used? My local camera store sells on consignment and guarantees purchases to be free of defects for a certain period. I've sold a couple of bodies there and both were in great condition. It's easier and less swarmy than craigslist can be. My local store also lists used gear online so you don't even have to go to the store.

Bigbobdallas

New Account
Thanks guys, I now have a new camera account

claudermilk

BeachBill wrote:

They've made it a lot easier now that Electric Orange is available (online checking account). Along with bill pay/electric checks, you get a Mastercard debit card that you can use at any ATM or retailer. You can move money instantly between savings and checking. I've switched entirely over to ING Direct for both savings and checking now.


My opinion, stay away from layaway. What if the price drops while it's in there? What if a newer, better version comes out? ING Direct savings pay 4.5% interest and your money is FDIC-insured. I've had an account with them for three years and have been extremely happy.

I got the ad in the mail on that. Since I've been happy with the savings I took a good look. From what I read, you don't get any interest until you have at least $50k in the account. I would LOVE to have $50K to just dump into an account & leave there to build interest, but am way too poor for that--and having several expensive hobbies plus a new house to remodel drains the funds I can get at an alarming rate.

I kind of think of the savings account as my lay-a-way, except that I get interest on the money, can change my mind on what it's for up until I place the order, and can benefit from any price drops while I'm putting money towards the final amount.

BeachBill

claudermilk wrote:

I got the ad in the mail on that. Since I've been happy with the savings I took a good look. From what I read, you don't get any interest until you have at least $50k in the account.

They pay interest on any balance, I can attest to that. Looking at the current rates, a balance below $50K pays 4%, a balance above $50K pays 5%.

There are only two things that you don't get compared to a traditional bank checking account:

1) Bank Fees
2) Physical Checks

If you really need them, you can request that a physical check either be mailed to the payee or you. Everything I pay can be done either via bill pay, debit card, or cash so this doesn't really effect me. In fact I haven't written a check in years.

claudermilk

I'm almost there. 98% of my bills are paid via Quicken/BillPay. The other 2% is still check since I just moved--and I'm looking for ways to move that online.

Sounds like I need to look again...could make a big difference in the monthly budget.