I know the kind of stress I was under because I couldn't pay my bills. Some of it was business stuff but a lot was personal crap. People kill themselves over money problems and toys are just self inflicted money problems. Credit is a trap. Credit cards are a huge trap. I looked at that payment to my credit card companies as paying for old clothes and other stuff that was in the landfill. Once the interest gets to be ALL of your payment you are cooked. The day I paid off my last truck I started saving for the next one. It was .9% interest and the last vehicle I buy on credit ever. And again, I am not smart. I did all the stupid stuff, nearly bankrupt 3 times and the thought of my wife and kids getting put out on the street straightened my s(*t out. Those 4 year old sleds were bad azz when they came out and only marketing and our competitive nature makes us think we need a 2013.
In this economy financing a toy (singular) is perfectly fine. Finance what ever amount you need as long as your obligations can be covered on a monthly basis. Credit checks will only allow you to barrow a percentage of what you make monthly as a safety to help keep you from potential default and/or buying things you cannot afford (even on a monthly basis)
Do not get a loan for a toy if you are not paying into a retirement and/or investment fund.
Credit is not a trap, it is a card game where the "house" has the odds in their favor. Fortunately a thorough understanding of how credit works and how to "manage" your credit will keep you out of hot water. You have to pay for credit and credit cards should be designated for certain items you can afford to pay off within 90 days as this exemplifies "managing" credit.
It is easy to abuse credit cards and/or loans if you cannot pay your balance in a timely manner, and when acquiring a loan or item can only afford to pay the minimum payment. Getting this loan will help boost your credit score so as your payments are made on time. Pay more than the minimum monthly to pay your loan off in, at most, half the loan life. Get a new sled, with warranty, which could be less expensive in the long run than buying a used sled needing repair in the next few seasons. DOO it!
