New! Dark mode!

Browsing Pinside at night? Getting tired of all the white? Switch to dark mode using the button in the top right (or CTRL-B)!

(Topic ID: 15902)

Pinball Debt: It's time to come clean. Be honest; your wife is not reading this!


By BackFlipper

8 years ago



Topic Stats

  • 123 posts
  • 93 Pinsiders participating
  • Latest reply 7 years ago by calico1997
  • No one calls this topic a favorite

You

Linked Games

No games have been linked to this topic.

    Topic poll

    “How much debt have you acquired from your pinball hobby?”

    • None, I have no debt and only acquire games when I can afford them. 363 votes
      86%
    • I have added debt to my credit cards to feed the addiction, but I am not maxed out. 56 votes
      13%
    • I have maxed out credit cards and even used the credit line on my home to feed the monster. 4 votes
      1%
    • I have passed the point of no return. I sell my blood weekly and have brought my kids video games to a Gamestop to get some cash to buy a beat up EM on CL. 0 votes

    (423 votes by 0 Pinsiders)

    Topic Gallery

    One image has been uploaded to this topic. (View topic image gallery).

    090906mexicali2.jpg

    There are 123 posts in this topic. You are on page 1 of 3.
    #1 8 years ago

    I just want to see where I fall in the "willingness to secure debt to feed your pinball addiction" poll. I think this poll can tell us a lot about the future of this hobby. It's a very simple formula to calculate the total amount of opportunity in the pinball universe.

    DT + TPS X NC = MPE

    Debt Tolerance + Total Pinball Space X Number of Collectors = Maximum Pinball Opportunity

    When we all hit max, the bubble finally bursts.

    #2 8 years ago

    Do you think people are actually going into debt in order to buy pinball machines? If so, that's kind of sad.

    #3 8 years ago

    That is the only reason I sold two pins. To get money for a new haul of pins.

    #4 8 years ago

    I've got strict debt rules.

    House
    College (paid my own way, so had to take out < $5k)
    Car (if it's below market rate debt)

    If you can't pay cash, you haven't earned the right to have it.

    Those rules work for me- I'm not here to tell anyone else to do though.

    #5 8 years ago
    Quoted from tonymiddendorf:

    I've got strict debt rules.
    House
    College (paid my own way, so had to take out < $5k)
    Car (if it's below market rate debt)
    If you can't pay cash, you haven't earned the right to have it.
    Those rules work for me- I'm not here to tell anyone else to do though.

    This is close to how my Dad taught me to live. One exception was that he paid for my college

    Another thing my Dad taught me that has proven to be very good advice is to save until you can get the thing you want and not the second rate model of that thing. If you get the second rate thing then you tend to have to replace it sooner and never are truly satisfied with it.

    #6 8 years ago

    Better then letting it sit a boring bank account earning .01 percent.

    #7 8 years ago

    I told my girlfriend I bought 3 pins, when I really bought 5. It did not require that I went into debt though.

    #8 8 years ago

    I pay the iron price for my pins!

    #9 8 years ago

    I would never put myself in debt for games. Bad idea jeans.

    #10 8 years ago

    I really wanted a WOZ ECLE. So, I took my wife to hear Jack speak at the Texas Pinball Festival. After the presentation we talked to Jack a bit and made the decision to do it. Jack has an interest free advance payment plan and we have been channeling our extra mad money into that and selling a couple of things from the attic on CL. We have it almost paid for, incurring no debt and no interest. Save first, buy later - it works for us. Also, by being up front with the wife, I sleep better at night!

    #11 8 years ago

    My poll was meant to be mostly rhetorical. I realize that this is a cash hobby. I pay cash for all of my games, but I guess the poll is a statement of the Peter Principal of our hobby. If two pinball manufacturers each start selling 6,000 NIB games each year, and we continue to preserve older games, we are all going to need either:

    1)More Space

    2) More Collectors to join the hobby and "thin our herds"

    and/or

    3) More Money (or possibly more debt tolerance)

    That's all I have been thinking. Not earth shattering, just thinking out loud.

    #12 8 years ago
    Quoted from thedarkknight77:

    I told my girlfriend I bought 3 pins, when I really bought 5. It did not require that I went into debt though.

    That just means you got a good deal!

    #13 8 years ago

    Nope, no money no honey!

    #14 8 years ago

    I do not add debt from pins or video games (I collect both). I recycle money from sales into the hobby. I also work OT and funnel that into my pinball fund.

    #15 8 years ago
    Quoted from tonymiddendorf:

    If you can't pay cash, you haven't earned the right to have it.

    that is how i was raised.

    #16 8 years ago

    No debt here, I don't subscribe to the new math the government or banks use

    #17 8 years ago

    If you have to go in debt to pay for a toy, you don't deserve the toy.

    Bryan (CARGPB 14)
    http://usergallery.myhomegameroom.com/gallery/bspins

    #18 8 years ago

    I use my debit card through paypal for all pinball purchases, unless the person doesn't have paypal, then I go to the bank and get 20's ... I did have to use a card to buy the lotr ( didn't want to carry that much cash) but it gets paid off when the bill comes...

    #19 8 years ago
    Quoted from Winball_Pizard:

    I pay the iron price for my pins!

    Lol. You pay the Iron price or the Gold price?

    #20 8 years ago

    I don't think JJP produces enough games to flood the market. If they continue on the current pace of making games not much will change. On the other hand, if they start producing 3-4 games a year surely it will flood the market, and who knows what will happen then. At the prices for these games now, it is very unrealistic that 6 games a year will be feasible.

    #21 8 years ago

    I've used a card to make parts purchases.. All these NIB deals floating around lately are really tempting, but I just can't do it. The thought of owing that much on a credit card doesn't set well with me. Some of my cards are even 0% on purchases for 12 months. Still to pay a New machine off in 12 months you're looking at $550 + a month payments, just wouldn't be a wise choice for me right now, being I'm Disabled and all.

    Bill in Indiana

    #22 8 years ago
    Quoted from Melbourne:

    No debt here, I don't subscribe to the new math the government or banks use

    No I pay as I go...well except for my account with Cointaker!! and Last time I got my bill from them, hubby bout had a heartattack!! So I asked Chris and Miss to not send the bill to the e-mail account he sees!!

    Phoebe

    #23 8 years ago

    Zero, I would NEVER buy a machine on credit..period..

    #24 8 years ago
    Quoted from mojozone:

    tonymiddendorf said:

    If you can't pay cash, you haven't earned the right to have it.
    that is how i was raised.

    Me too. Within two years I'll have zero debt (if all goes to plan)that is when the pinball madness will truly begin.

    #25 8 years ago

    Phoebe, with 45 pins that could be quite an LED bill!

    #26 8 years ago

    I've bought machines with a credit card, but they were paid off in full once the bill came in. I don't buy anything unless I have the means and know the money is not needed for anything else.

    #27 8 years ago

    I just dropped TRON on my card. No biggie as long as it doesn't stay there!
    Plus, I just got a whack of travel miles and a pin. Win-Win!!

    #28 8 years ago

    not only do I not go into debt for pins, I use no cash from "work" income. I either save money from birthday/christmas, save it from ebay auctions, save it from side work I do for websites, contract work, etc. That way my wife has no qualms about buying pins as long as there is room, my collection requires no load on our savings, and unlike other things (purses, bags, computers, clothes), pins will always hold their value (it's like cash sitting in the basement)

    #29 8 years ago

    no debt here, only buy what I can pay cash for.... Same with cars....

    #30 8 years ago
    Quoted from gweempose:

    Do you think people are actually going into debt in order to buy pinball machines? If so, that's kind of sad.

    Depends on your definition of debt.

    All my pins are paid for in full. But there are plenty of people who buy pins off eBay so they can use their credit card via Paypal. So if your credit card isn't paid off because of buying a pinball...I call that debt.

    #31 8 years ago

    Right now I am in pinball credit. I have cash sitting in a machine waiting for a wish list pin to show...

    #32 8 years ago
    Quoted from Bryan_Kelly:

    If you have to go in debt to pay for a toy, you don't deserve the toy.
    Bryan (CARGPB 14)
    http://usergallery.myhomegameroom.com/gallery/bspins

    Don't know that I agree with that.

    Sports cars are toys. Does that mean you have to pay cash for it?

    Same with boats, RV's, ATV's, Jet Ski's etc.

    #33 8 years ago
    Quoted from RobT:

    All my pins are paid for in full. But there are plenty of people who buy pins off eBay so they can use their credit card via Paypal. So if your credit card isn't paid off because of buying a pinball...I call that debt.

    I do pay via paypal and credit cards but I also pay the monthly off and never pay interest.

    #34 8 years ago

    No debt for me!!!

    #35 8 years ago
    Quoted from RobT:

    Bryan_Kelly said:If you have to go in debt to pay for a toy, you don't deserve the toy.
    Bryan (CARGPB 14)
    http://usergallery.myhomegameroom.com/gallery/bspins
    Don't know that I agree with that.
    Sports cars are toys. Does that mean you have to pay cash for it?
    Same with boats, RV's, ATV's, Jet Ski's etc.

    I wouldn't buy a sports car or boat unless I had funds in the bank to pay in full.

    My 2 cents.

    #36 8 years ago

    I wouldn't buy it if I couldn't afford it. Nice thing about pins is it is almost as good as having money in the bank as pickings are slim and most games sell pretty fast up here if priced reasonably.

    #37 8 years ago

    no debt for me.... but i dont know the future hahahahahha

    #38 8 years ago

    Should be no debt for me, but paying for your own wedding takes a toll on the old bank account

    Saved pin fund to have no debt, replaced with actual wedding debt....fml

    #39 8 years ago

    Debt free = peace of mind
    The only way to live.

    #40 8 years ago
    Quoted from gweempose:

    Do you think people are actually going into debt in order to buy pinball machines? If so, that's kind of sad.

    I do temporarily from time to time, I borrowed money for my Tron LE, but then it's worth more than I paid for it now, so...

    #41 8 years ago
    Quoted from Winball_Pizard:

    I pay the iron price for my pins!

    That is sooo freaking funny. They really need to do a pin based on the books. They could have a Red Wedding Multiball mode.

    #42 8 years ago

    I don't go into debt to buy pins, but I have to say in MANY circumstances is it is better to sit on a pile of cash and charge a purchase. If you had $400k in cash would you buy the house cash or get a mortgage and spend $2.5K/month and take the remainder of your cash and invest it in something else that pays the mortgage?

    #43 8 years ago

    Ive got a significant amount of cash tied up in games. My wife is comfortable with the situation because she knows I am good at repairs, maintenance and upgrading. Therefore she has little fear that these games will be broken down and worthless in a few years. They weren't bought as an investment, but they are a lot more entertaining than the cash in the bank earning nothing and they seem to be holding their value and then some.
    Lots more people in the hobby in the past few years and I am hoping it will continue to grow. I also hope to never have to sell a machine unless I really want to.

    #44 8 years ago
    Quoted from wbradley:

    Ive got a significant amount of cash tied up in games. My wife is comfortable with the situation because she knows I am good at repairs, maintenance and upgrading. Therefore she has little fear that these games will be broken down and worthless in a few years. They weren't bought as an investment, but they are a lot more entertaining than the cash in the bank earning nothing and they seem to be holding their value and then some.
    Lots more people in the hobby in the past few years and I am hoping it will continue to grow. I also hope to never have to sell a machine unless I really want to.

    +1 I couldn't have described my own personal situation any better.This sums it up for me.

    #45 8 years ago

    Seems I am in the minority here, so I'm not gonna say how big my card bill is out of TOTAL embarrassment. Never put a pin on a card, but parts, mods, led's etc are soo easy to put on paypal $50 here $50 there, oh crap, need something from Macro too, there's another $50 plus shipping. It adds up alarmingly fast, but gotta feed the addiction and keep things running...

    #46 8 years ago

    I'd also add - my finances are my own business, my partners are hers. We go halves on everything, well - aside from the car which apparently is my thing as opposed to the thing that takes us everywhere....

    #47 8 years ago

    I pay cash for everything including cars. The only debt I owe is about $8000 in student loans. I just pay the monthly minimum because the rate is so low and I can deduct the interest on my taxes. Sure it would be nice to put WOZ on the credit card, but not worth worrying about paying for it the next 3 years. Being in debt sucks.

    #48 8 years ago

    Have about 10 grand in CC debt, yes some of that is from my pins/garage conversion.

    BUT-

    Own my car. Have only 7 years left on my mortgage and actually have equity in my house. Have all college loans paid off. No kids = No kid bills currently or in the future. Have 2 retirement accounts + pension fund. Wife has nice job also.

    Some debt is necessary, don't know how some of the people above do it?

    Are people on here not counting college loans, mortgage payments and car payments as debt?

    #49 8 years ago
    Quoted from herbertbsharp:

    I don't go into debt to buy pins, but I have to say in MANY circumstances is it is better to sit on a pile of cash and charge a purchase. If you had $400k in cash would you buy the house cash or get a mortgage and spend $2.5K/month and take the remainder of your cash and invest it in something else that pays the mortgage?

    Where can you invest and get a guaranteed return that beats your mortgage interest rate? If you're keeping a mortgage so you can gamble on the stock market, I hope you have better luck or timing than me.

    John

    #50 8 years ago

    LOL coming clean. Not necessary my relationship is based on trust #1.
    She knows every machines real value to the penny. Never been one to hide anything it just causes headaches. I pay cash for any pin. I like to pay cash for everything I hate cards.

    Promoted items from the Pinside Marketplace
    $ 79.99
    Playfield - Decals
    FlyLand Designs
    $ 28.00
    Playfield - Other
    Pin Monk
    € 40.00
    Playfield - Toys/Add-ons
    Creo Pinball
    $ 10.00
    Playfield - Other
    Loop Combo Pinball
    $ 89.99
    $ 29.95
    Playfield - Toys/Add-ons
    ULEKstore
    $ 10.00
    Cabinet Parts
    Flashinstinct
    $ 7,299.00
    Pinball Machine
    Arizona Pinball
    $ 24.25
    Lighting - Other
    The MOD Couple
    $ 244.99
    $ 24.99
    Lighting - Led
    Lee's Parts
    $ 15.00
    Electronics
    Third Coast Pinball
    $ 48.00
    Cabinet - Other
    ModFather Pinball Mods
    From: $ 42.00
    Cabinet - Shooter Rods
    ModFather Pinball Mods
    $ 99.99
    Lighting - Other
    Lighted Pinball Mods
    $ 25.00
    Boards
    nvram.weebly.com
    € 197.00
    Displays
    PINBALLSP
    $ 14.95
    Playfield - Toys/Add-ons
    ULEKstore
    From: $ 42.00
    Cabinet - Shooter Rods
    ModFather Pinball Mods
    $ 33.50
    € 60.00
    Flipper Parts
    Buthamburg
    From: € 90.00
    Playfield - Toys/Add-ons
    Creo Pinball
    From: $ 3.99
    Cabinet Parts
    Troxel Repair
    From: € 0.39
    Rubber/Silicone
    Scandinavian Pinball
    From: $ 25.00
    Playfield - Toys/Add-ons
    G-Money Mods
    From: $ 9.99
    $ 14.95
    Playfield - Toys/Add-ons
    ULEKstore
    $ 27.50
    $ 15.00
    Playfield - Decals
    Flashinstinct
    $ 9.00
    Electronics
    Yorktown Arcade Supply
    There are 123 posts in this topic. You are on page 1 of 3.

    Hey there! Got a moment?

    Great to see you're enjoying Pinside! Did you know Pinside is able to run thanks to donations from our visitors? Please donate to Pinside, support the site and get anext to your username to show for it! Donate to Pinside