Budsgunshop.com is DANGEROUS!!!
- Thread starter darko
- Start date
I'm in the credit industry and manage a well known national account...
Bud's is passing their promotional fee to the customers for using the 12mo SAC w/ payment.
The 90 day promotion doesn't cost them anything therefore they're not charging a premium.
The 12mo plan is probably costing them 4.98% or so (going rate right now at most of the big banks).
Example: So if you spend $1000 and put it on the 12mo plan, Bud's is required to pay GE $49.80 of the total sale for allowing you the customer to take advantage of the credit promotion.
Technically this is a violation of their merchant agreement with the credit provider as they are not suppose to openly pass the fees to the customers. If my merchant did this I would be on them like white on rice for violating their agreement. I'm not sure if GE really enforces this policy since it's a "generic" or general merchant card instead of a typical private label credit card.
I recommend that if you take advantage of the 12mo promotional plan...break the total bill into 8-9 equal payments instead of 12 so you won't run the risk of missing your promotional end date. If you miss a payment or do not pay off your balance in full when the promotion ends you will be dinged with ALL the interest accrued from the initial purchase amount. So if you have 5 bucks left on your balance and you don't pay the card off on time...you'll be dinged at 23.9% of the initial purchase, not the 5 bucks that's left on the card.
So it's great to use the credit..just pay your bill at the end.
Bud's is passing their promotional fee to the customers for using the 12mo SAC w/ payment.
The 90 day promotion doesn't cost them anything therefore they're not charging a premium.
The 12mo plan is probably costing them 4.98% or so (going rate right now at most of the big banks).
Example: So if you spend $1000 and put it on the 12mo plan, Bud's is required to pay GE $49.80 of the total sale for allowing you the customer to take advantage of the credit promotion.
Technically this is a violation of their merchant agreement with the credit provider as they are not suppose to openly pass the fees to the customers. If my merchant did this I would be on them like white on rice for violating their agreement. I'm not sure if GE really enforces this policy since it's a "generic" or general merchant card instead of a typical private label credit card.
I recommend that if you take advantage of the 12mo promotional plan...break the total bill into 8-9 equal payments instead of 12 so you won't run the risk of missing your promotional end date. If you miss a payment or do not pay off your balance in full when the promotion ends you will be dinged with ALL the interest accrued from the initial purchase amount. So if you have 5 bucks left on your balance and you don't pay the card off on time...you'll be dinged at 23.9% of the initial purchase, not the 5 bucks that's left on the card.
So it's great to use the credit..just pay your bill at the end.
I'm not even sure if that's legal in some states. Tacking on a fee to cover the 5% is bad juju.
That said, the whole deal is just like what big-box stores like Best Buy offer to get people to push those $2000 flatscreens out the door. It's just that a lot of people don't pay within a year, they keep putting it off, and then they start getting socked with the interest payments.
Not Dangerous, Evil!
Good (I guess) to see other addicts. (Jeez…
)
I’m done with Buds and Whittakers, equally evil. I have two week’s vacation coming up and a bonus. I’m resolved to go to an actual gun shop and find an equally good deal.
For the record, though, every one of the half dozen or so guns I’ve bought from Bud’s, each transaction went smoothly and I got the exact gun I ordered with no problems.
Good (I guess) to see other addicts. (Jeez…
)I’m done with Buds and Whittakers, equally evil. I have two week’s vacation coming up and a bonus. I’m resolved to go to an actual gun shop and find an equally good deal.
For the record, though, every one of the half dozen or so guns I’ve bought from Bud’s, each transaction went smoothly and I got the exact gun I ordered with no problems.
It's been a busy gun dealing year Pud....after 21 years of no activity. I got both kids in college now, so time to continue my beloved hobby. Since Feb. of this year I've sold 6 guns taking up space, and have bought 4(the Para included). The way I look at it, I'm 2 guns short!
A while back, there was a milsurpaholic group here at TFL. I think we need to start a budsaholic group for you guys. Not me though. I don't have a problem. My wife says I do, but heck, I never miss work or get arrested.
She doesn't understand me.
Guns are an investment.
I'll quit tomorrow.
She doesn't understand me.
Guns are an investment.
I'll quit tomorrow.
tootalloutdoors
Inactive
How long have you been married??? Didn't think we had to tell you that. 
But on the good side. Maybe she's gonna do some Christmas shoppin' there.
Thanks, Toot
But on the good side. Maybe she's gonna do some Christmas shoppin' there.
Thanks, Toot
There are at least half a dozen posts missing from this thread?!
I noticed the same thing on the 5.45x39 thread. I posted two messages. They were there. That night I went back to thread and they were gone. I posted again to replace them.
What's going on?
G
EDIT: Sorry, finally read the announcement! At least I know I'm not imagining it.
I noticed the same thing on the 5.45x39 thread. I posted two messages. They were there. That night I went back to thread and they were gone. I posted again to replace them.
What's going on?
G
EDIT: Sorry, finally read the announcement! At least I know I'm not imagining it.
FirstFreedom
Moderator
Dangit, Greg, I was hoping you wouldn't see that announcement so we could screw with your head some more. 
Oh lawdy, guns on credit - all well and good unless you get insolvent. I assume they have a lien on the items. Betcha THAT repo man doesn't sleep very well at night! ("Oh, brother, tomorrow I have to try and repossess two AR15s, an M14, an FS2000, and fifteen 30-rd magazines from a guy who just lost his job and got divorced.").
Oh lawdy, guns on credit - all well and good unless you get insolvent. I assume they have a lien on the items. Betcha THAT repo man doesn't sleep very well at night! ("Oh, brother, tomorrow I have to try and repossess two AR15s, an M14, an FS2000, and fifteen 30-rd magazines from a guy who just lost his job and got divorced.").
aaaaaarrrrrrrggggggg!!!!!!!!!
I have had good luck with Buds in the past and so when this opportunity came up, I said "why not?" Bought a Ruger super blackhawk .44 mag blue in 7 and 1/2 inch.
Two days later, I bought a Kimber Pro Covert II .45 with crimson trace laser grips.
Help me please.
I have had good luck with Buds in the past and so when this opportunity came up, I said "why not?" Bought a Ruger super blackhawk .44 mag blue in 7 and 1/2 inch.
Two days later, I bought a Kimber Pro Covert II .45 with crimson trace laser grips.
Help me please.
Sgt.Fathead
Moderator
LMAO
I look at the Bud's page every night when I log on after returning from work and just cruise around and I never, never, go near that damn one year no payment link.....and I'm so damn tempted now. I could really use a few more Rugers, maybe a Rem 870 Marine magnum, surely an Ar, some ammo, couple holsters.
Reminds me of being a kid with the Sears Wish book this time of year.
The wife would kill me. New truck, new payments.
I look at the Bud's page every night when I log on after returning from work and just cruise around and I never, never, go near that damn one year no payment link.....and I'm so damn tempted now. I could really use a few more Rugers, maybe a Rem 870 Marine magnum, surely an Ar, some ammo, couple holsters.
Reminds me of being a kid with the Sears Wish book this time of year.
The wife would kill me. New truck, new payments.
As far as I know there is nothing strange about shipping to maryland, but I've only done the C&R so far (rifles and pistols).
The paperwork on this end is annoying for the local 01FFL especially for "restricted items" - most handguns and semi auto detachable magazine rifles, but that is the local 01FFL guys problem (there is normally a $20 charge above the FFL transfer fee here to cover the extra paperwork).
Buds has good prices on CZ shotguns and such that aren't restricted here at all though...If it the restricted items that bug him I can understand not selling those, but not selling anything confuses me.
Based on the web site "Per Bud!" its a preference not a legal thing. I'd send them an email but I expect I'd get a "what part of NO!....." answer.
The paperwork on this end is annoying for the local 01FFL especially for "restricted items" - most handguns and semi auto detachable magazine rifles, but that is the local 01FFL guys problem (there is normally a $20 charge above the FFL transfer fee here to cover the extra paperwork).
Buds has good prices on CZ shotguns and such that aren't restricted here at all though...If it the restricted items that bug him I can understand not selling those, but not selling anything confuses me.
Based on the web site "Per Bud!" its a preference not a legal thing. I'd send them an email but I expect I'd get a "what part of NO!....." answer.