Thinking of Selling my Guns, Should I????

[Japsican]

Hey Everyone,

Well...I'm really on the fence on what to do here. I'm currently looking into buying a home with my wife and at the same time, I'm also looking to pay off all my credit cards so that I have zero debts before I buy a house. We have some cash saved for the house, but I'd like to have as much spare cash as possible, and it would be nice to not have to worry about credit card bills. Now I'm thinking about selling some of my toys to pay off all debts and put some more spare cash in the bank, unfortunately, some of these toys would be a few of my guns. My thinking on this is, theoretically, I could replace the guns later on down the road after I'm all settled in. It would be tough to watch my guns go, but they could be replaced, right?:(

Not sure what to do, guys...What's your input on this?

Thanks

[glockman19]

What is a priority to you?

Sounds like a house is. I'd agree.

If selling a couple/few not all of your firearms I'd have to agree with you. Sell them and get into the house.

[maschronic]

i would sell some of your stuff but not all of it. keep the ones that are important to you. guns come and go. zero debt is a good goal to have before buying a house. :)

[fuegoslow]

If you can replace them, sell them. But if they're rare civil war or heirloom type firearms, hold on to them.

By the way, what you got? pics? Chino Hills is nearby and I'm always looking. :D

[maschronic]

2nd in line. haha :) what ya got?

[HCz]

Good advice has been given already. IF the gun is replacable, you might consider selling it.

But then again... :p (see attached file)

[bsim]

As an FYI...

If you have (let's say) $10k total available credit, and your cards are maxed out, your credit score takes a hit.

If you have $10k total available credit and zero balances, your credit takes a hit.

The magic number for credit card balances and max credit score is roughly 20% of available credit.

Just an FYI...

[Japsican]

Lmao...I knew you guys would be interested in what I had for sale...

Well, a home is my #1 priority...with that said, I dont need to sell anything, but extra cash on hand is always a plus. The guns I'd be selling arent rare at all, but I love them none the less.

Here's what I was thinking of letting go.

Stainless Steel Springfield Loaded Gov. .45acp
Sig P226R 9mm w/ NS

Both in excellent condition around 600 through each.

Man, if I do sell, it is going to be tough...

[Japsican]

Good advice has been given already. IF the gun is replacable, you might consider selling it.

But then again... :p (see attached file)

Lmao...I saw that right before I started this thread...talk about irony.

[freakshow10mm]

Absolutely pay off your credit cards. Then don't ever, ever use them again. The only loan you should ever take out is a mortgage for real estate. Pay cash for vehicles, luxury items, and bills. Rely on savings account for emergencies, not credit cards.

If you have to use credit to buy a luxury item, you can't afford it.

I learned it the hard way.

I sold all but two guns (carry gun and my first gun my grandfather bought me). Unfortunately it barely put a dent in my CC debt.

[Japsican]

Absolutely pay off your credit cards. Then don't ever, ever use them again. The only loan you should ever take out is a mortgage for real estate. Pay cash for vehicles, luxury items, and bills. Rely on savings account for emergencies, not credit cards.

If you have to use credit to buy a luxury item, you can't afford it.

I learned it the hard way.

I sold all but two guns (carry gun and my first gun my grandfather bought me). Unfortunately it barely put a dent in my CC debt.

Yeah, that's definately good advice, but luckily for me, I dont have too much credit debt to begin with. If I sold a few things, I could knock out the small debt and put some more cash away.

[Southbay]

Pay off your credit cards is always a good thing. If your main priority is to purchase a home, the first thing you should do is talk with a mortgage broker, ask the broker to show you how much of a difference it will make to you loan if you pay off your credit cards.

[Gunaria]

Lmao...I knew you guys would be interested in what I had for sale...

Well, a home is my #1 priority...with that said, I dont need to sell anything, but extra cash on hand is always a plus. The guns I'd be selling arent rare at all, but I love them none the less.

Here's what I was thinking of letting go.

Stainless Steel Springfield Loaded Gov. .45acp
Sig P226R 9mm w/ NS

Both in excellent condition around 600 through each.

Man, if I do sell, it is going to be tough...

I say just keep them. Is $1200 really going to make that much more of an impact on your finances? Or the very least, sell the Sig & keep the 1911.

[Noobert]

Good advice has been given already. IF the gun is replacable, you might consider selling it.

But then again... :p (see attached file)

Rofl!

[Turbinator]

You have 2 guns? Not worth selling to buy a home.

If you had $50K in guns, that helps with your downpayment - but 2 guns, $1200 roughly, not worth it.

Hey, you have to protect your new homestead somehow, right??

Turby

[Japsican]

You have 2 guns? Not worth selling to buy a home.

If you had $50K in guns, that helps with your downpayment - but 2 guns, $1200 roughly, not worth it.

Hey, you have to protect your new homestead somehow, right??

Turby

That's not my entire collection...if I sold those 2, I could just pay off my cards and have not debts. Plus I would have some more money I could stash away. Every penny counts, right? I could use the extra cash to buy a fridge or something.

[SickofSoCal]

Don't buy a house yet.

[xibunkrlilkidsx]

Good advice has been given already. IF the gun is replacable, you might consider selling it.

But then again... :p (see attached file)

ITS A SIGN!!!!

That's not my entire collection...if I sold those 2, I could just pay off my cards and have not debts. Plus I would have some more money I could stash away. Every penny counts, right? I could use the extra cash to buy a fridge or something.


personally, only if your a communist. your not a communist are ya? i couldnt sell of my guns unless it was a dire emergency. even then it would be hard. the 1st ones i would sell were oens where you have multiple guns in same caliber, no need for 3 guns that shoot 9mm or etc. of the 2 guns you got which one has more value to you. i know i would never sell my 1911, it is my dream gun that i have wanted since i was a lad. If i had 2 1911's i might consider selling one.

[Beelzy]

Well, a home is my #1 priority...with that said, I dont need to sell anything, but extra cash on hand is always a plus.


Guns ARE extra cash on hand.......and with the economy going down the
drain those guns are going to be more valuable than cash. Keep 'em. ;)

[Bizcuits]

It really depends on what is more important to you.

Personally I'm not a huge collector, I have a lot, but not A LOT.

Whenever I've sold a gun it was, because

It was collecting dust.
It had no valid tactical purpose.
I wasn't emotionally attached to it (family gun).
I actually needed the money and didn't just want the money.

So ask yourself this...

Does the gun(s) just sit around? When was the last time you used it? Do you REALLY need the money?

Does the gun serve a purpose? Do you CCW? Carry at work? Home Defense gun? Zombie gun? Extra gun? Backup gun? Do you have 3-4 others that could fill its role?


And on a side note, do not listen to anyone telling you not to buy a house. Interest rates are low and fixed, prices are low and this won't last forever. If you can afford a house get a house, but remember to get something you can afford. That doesn't mean something that costs $2500 a month when you only make $2600. It means get something that if you lose your job and have to down grade you can still afford. Live within your means people... and why people are saying "don't buy" is beyond me... :confused:

[SgtDinosaur]

I'm biased because I have never sold any of my guns and have no plans to (I just accumulate them). But it strikes me that gun prices mostly go up, and It would cost a lot more to replace them than I paid for them over the past 33 years. I'm amazed when I see what some guns that used to be relatively cheap are selling for these days (at least here in Cali).

[Mike A]

I've sold off several collections over the years, basically to make down payments large enough on houses so that my wife and I could still make the mortgage payments even if one of us lost a job. (And we did!).

BUT I never sold off inherited family guns nor those that someone had given me as a gift--the only guns that are irreplaceable are those that carry irreplaceable memories. Or at least I thought that until I moved back to CA after being away for 40 years. Now I'd REALLY think about whether a given gun is likely to be replaceable. If it's not "on the list," it'll be hard to replace, plus costing you twice what you paid for it.

I agree with the sentiment about getting rid of credit cards; the only reason I can see for having one is if you travel a lot. Then you need ONE.

But I'm an old fart; born that way, my wife tells me......there's probably a psychiatric term for it.

[DB2]

I've sold a few to raise quickly needed funds. I would not sell them just to have extra money. If the $1200 is going to make or break you, then definetly sell them to pay it off. If not, don't. You'll just pee it away on things that have absolutely no value.

I've been seriously thinking of offing all of mine for rainy day funds. But I know it will not be used for what it was meant for.

[Japsican]

Hey Everyone,

Thank you all for your input. Some very good points, indeed. I think I am just going to hold onto my guns for now. I dont absolutely need the cash right now...although my guns are currently hibernating, it's not likely that the value will go down. If the time comes where there's an emergency, I guess I can then look toward selling a few of my firearms.

To pay off my cards, I guess I'll look into selling off some of my other toys that don't hold their value as well as firearms.

Thanks Everyone!

[Lucky Scott]

Sell em'

You can buy more later. The house and the debt is the most important deal.

[1lostinspace]

Keep a good rifle and good and gun get rid of everything else

[HUTCH 7.62]

Sell em'

You can buy more later. The house and the debt is the most important deal.

Now that could be considered bad advise. Not to create FUD Who knows by the time the op gets back on his feet he may not be able to buy some or all of the gun he currently owns.

[qaz987]

Now is the time to buy real estate and guns. :yinyang:

[Ding126]

sell what you need to get your finances in order...Getting home loans today are tougher than ever and you will need to clean up the debt.

You can always replace your firearms..The house is your 1st priority

[joepamjohn]

Guns can be replaced, unless you have some family heirloom sell them to buy the house. The housing market is totally set for buyers.

Property (in the right area) is still the best investment you can make.

[joepamjohn]

Now that could be considered bad advise. Not to create FUD Who knows by the time the op gets back on his feet he may not be able to buy some or all of the gun he currently owns.

And when the housing market changes he may never again be able to buy a house with the prices that they are at now. I would rather have my own house than a closet full of Glocks and Shotguns in a rental house or apartment anyday.

[GTR645]

I don't want to be the devil's advocate or anything... but how much would you be willing to sell the Springfield Loaded for? :p

[devildog999]

I wouldn't sell. I'd save up a bit longer. but that's just me. Just like a crack addict wouldn't sell his crack for food, I wouldn't sell my guns, I'd just catch my food ;)

[audihenry]

Save the pieces that are rare/valuable, sell everything else. A house is more important than guns.

[Sheepdog1968]

Would it be possible to work overtime or get a second job? It wouldn't take that long to earn $1200 without selling the guns.

[Rob454]

When you have no debt you can buy other guns. IF i needed money to buy a house or get out of debt I would have no problem selling guns to do that. I can always buy guns. I rarely if ever buy anything UNLESS I actually have the cash to buy it outright.
if i cant afford to by it cash I dont buy it.

[trob]

Lmao...I knew you guys would be interested in what I had for sale...

Well, a home is my #1 priority...with that said, I dont need to sell anything, but extra cash on hand is always a plus. The guns I'd be selling arent rare at all, but I love them none the less.

Here's what I was thinking of letting go.

Stainless Steel Springfield Loaded Gov. .45acp
Sig P226R 9mm w/ NS

Both in excellent condition around 600 through each.

Man, if I do sell, it is going to be tough...


thats not enough dough for a house.....what else ya' got??

[Bukowski]

Keep 1 sell the rest.

Armed and debt free is the way to be.

3 Generations of my family survived with a 1911 and a 30-30. The rest is bonus:chris:

[tactical415]

Having the best credit when buying a house is a must so your mortgage rates aren't so crazy. Guns aren't a priority in my opinion. Pay your debt off, get the house, settle in, then buy more toys later. Just my .02

[bubbapug1]

I think the best question here is...Why can't your wife work a second job?

[wksun88]

normally I'd say no to selling your guns, but getting your finances in order is always a top priority especially when you want to become a home owner.
Go for it, no one will be taking away our guns!!:30:

[norcal77]

Keep the best, sell the rest.

[JaMail]

Hey Everyone,

Well...I'm really on the fence on what to do here. I'm currently looking into buying a home with my wife and at the same time, I'm also looking to pay off all my credit cards so that I have zero debts before I buy a house. We have some cash saved for the house, but I'd like to have as much spare cash as possible, and it would be nice to not have to worry about credit card bills. Now I'm thinking about selling some of my toys to pay off all debts and put some more spare cash in the bank, unfortunately, some of these toys would be a few of my guns. My thinking on this is, theoretically, I could replace the guns later on down the road after I'm all settled in. It would be tough to watch my guns go, but they could be replaced, right?:(

Not sure what to do, guys...What's your input on this?

Thanks

depends on how many you have, what you have, and what your keeping, if you just have a bunch of generic makes and models, then yea, sell them off and get your bills paid, espeically if your paying an extra three or four hundred a month in interest on the credit cards, get them paid, then use that money to restock your collection.

[a1c]

As an FYI...

If you have (let's say) $10k total available credit, and your cards are maxed out, your credit score takes a hit.

If you have $10k total available credit and zero balances, your credit takes a hit.

The magic number for credit card balances and max credit score is roughly 20% of available credit.

Just an FYI...

No, that's a myth. The idea is simply to pay off your balance every month. That's how you achieve great credit. And you don't even have to use your credit card every month either.

Keep the handgun you love and trust the most for HD and keeping your skills up. Keep the heirloom pieces or those you know will be nearly impossible to replace. Sell the rest. Being debt free and putting a permanent roof on your family is priceless.

[ilbob]

I don't know about CA, but around here the peak of the firearms buying panic has passed. I am not sure what you might be able to get for the guns you are thinking of selling.

Even if you get $1200 for them, it seems like a relatively small amount of money, versus the layout for a new house.

If you are so strapped that $1200 one way or the other is going to make that much difference, I think you need a better financial plan. Not to be picking on you, but if a weeks (or maybe 2 weeks) pay makes all that much difference in your financial situation, what is going to happen when your car needs a new transmission? Or your shiny new house needs a new furnace?

[B Strong]

Hey Everyone,

Well...I'm really on the fence on what to do here. I'm currently looking into buying a home with my wife and at the same time, I'm also looking to pay off all my credit cards so that I have zero debts before I buy a house. We have some cash saved for the house, but I'd like to have as much spare cash as possible, and it would be nice to not have to worry about credit card bills. Now I'm thinking about selling some of my toys to pay off all debts and put some more spare cash in the bank, unfortunately, some of these toys would be a few of my guns. My thinking on this is, theoretically, I could replace the guns later on down the road after I'm all settled in. It would be tough to watch my guns go, but they could be replaced, right?:(

Not sure what to do, guys...What's your input on this?

Thanks

Now is the absolute worst time to sell anything, so if you want to - have to - take a loss, make the sales.

If you can hold on till the economy stabilizes - two years? - you may realize a better reurn, or at least not so much of a loss.

[jarhead995]

sell me some?

[gn3hz3ku1*]

how much percent do you have down?

fha? va loan?

because im putting 20 percent down 800 plus credit and they are still not 100 percent sure ill get approved

a grand isnt going to make much of a difference depending on the size of the home.. seeing how you are in chino.. if you want to go west, it wont make a diff... you will end up really really far east for the bank to care about that extra grand...

[swerv512]

i aint sellin no more guns PERIOD. Since i sold my M1A i've never been the same....
Also, as already noted, unless you've got some collector-grade goodies, you wont be making much profit-unless you bought them way back.
cut back the starbucks and other frivilous items instead...

[AJAX22]

If you are ever in a position where you HAVE to sell a gun, you'll have no problem moving a 1911 and a sig 226R....

I'd hang onto them and see what else you can get rid of to raise funds....

[slik556]

normally I'd say no to selling your guns, but getting your finances in order is always a top priority especially when you want to become a home owner.
Go for it, no one will be taking away our guns!!:30:

Do you realize that this thread you dug up is almost a month old. Some posts can and should be revisited but this one...... :sleeping:

Some need to start reading the dates of the threads they are posting to....:toetap05:

[otteray]

Absolutely pay off your credit cards. Then don't ever, ever use them again. The only loan you should ever take out is a mortgage for real estate. Pay cash for vehicles, luxury items, and bills. Rely on savings account for emergencies, not credit cards.

If you have to use credit to buy a luxury item, you can't afford it.

I learned it the hard way.



Yep.
Me too.
Cut 'em in half with scissors.