How do you finance your train purchases?

[Anonymous]

As expensive as our hobby is, I was just curious on how most of us buy our trains, whether locomotives or cars. Since I get paid every 2 weeks, and after the bills are done away with, I tend to see how much I am able to spend for train stuff. For cars and some accessories, its not that tough as I can easily afford a $40-$50 car, but for locomotives, I would either have to save money up or put it in layaway, provided that the hobby shop does it.

Chris

[mickey4479]

It depends on how bad or good your habit is. The expenses for basic layout materials are one time. For me, I really can live with the 4 locos I have. (although a Santa Fe O scale F3 ABA with 8 passenger cars would be great) It has taken me 10 years or so to get 4 locos and the 50 passenger/freight/caboose cars I have. I don't plan to get more at this point. There are folks that are big collectors, and I know a few. They have the $ to pursue their interests to that extent. Even they acquired their collections over years. I also met a poor chap who was hooked on buying almost everything he saw. Regretably, his collection and hobby became an unhealthy thing for him. Most people I suspect have their priorities set straight. Faith, family, health and you save up for the "trains" in your life.

[csxt30]

Good Topic Trainmaster ! I'm going the "One piece At A Time Route " !! [:D]
Strictly ca***hrough the year & get a little boost at Income tax return time !
I don't like paying for something I bought 6 months ago ! Just my thoughts, though, whatever works for each person may differ.
Thanks, John

[Warburton]

Bank robbery. And its still not enough...l

[choochin3]

I sell Crack !
Just kidding,I also go the one piece at a time route.

Carl T.

[Roger Bielen]

I throw my loose change in a jar every evening and when I pre-order something from the catalogue I put a few dollars aside from each paycheck. Before I retired it was a no brainer, if I wanted something, I usually was able to buy it. Luckily there weren't a lot of engines that I wanted. Post retirement I lowered my goals to only collecting the Lionel CB&Q freight cars, not all the CB&Q. At this point there are only two I'm lacking, a 6464 from a recent 3 car set and the one yet to be issued from the current catalogue.

[Sturgeon-Phish]

I take my lunch to work and the money that I save goes into my train fund. I don't buy something till I have the $$
Jim

[wrmcclellan]

[bow] credit cards [bow]

[dougdagrump]

Spending my daughter's, future, inheritence !!!!! [:o)]

[nitroboy]

Telgraph poles. Alot of them.

[Anonymous]

I already have more trains (various scales) than I'll even need or use in this lifetime, so I really try to discipline my buying these days. As a general rule, I only buy new trains with money I have made from selling other trains I have, or with money I have saved a little at a time.

I may use a credit card to make a mail-order purchase, but only if I can pay for the purchase when the statement arives. I'm doing my best to virtually eliminate credit cards in my life, and have been making good progress over the past few years. My goal is to become virtually debt free, aside from housing, transportation, fuel/utility, food, and clothing costs, all of which can be paid for up front with real money.

Because I have an interest in multiple scales, my train purchasing is a bit problematic. For example, at the present time there are items I would like to have in Z, On30, O, Standard Gauge, and Large Scale. I will most definitely not be able to buy all of them, and will simply have to take my time and decide which from among the list I really want more and will want to keep once I get it. Tough decision! However, I'm sure I won't be disappointed in the long run because I'll eventually decide on one of the items and will know that I devoted a decent amount of time to pondering the decision before spending the money.

[1688torpedo]

Cash or Layaway. Credit Cards are a no-no & cost too much money unless you pay them off in a short time. This is why the Credit Card Companies keep people under their thumb with interest & service charges and also make lots of $$$$$$$$. Take Care.

[pbjwilson]

QUOTE: Originally posted by wrmcclellan

[bow] credit cards [bow]

I'm with Roy on this one.

Actually been buying alot of stuff on e-bay as of late. Comes right out of the bank account on those purchases. Last year was good financially so I'm going a little overboard this year. And I also thin out the collection now and then, and that money goes toward new trains. I rarely buy "new" trains, mainly pre-owned lightly used stuff. I buy the trains I couldn't afford 6-8 years ago now that it's slightly used and I don't mind if there is a scratch or two.

[Anonymous]

A nice fat salery of just over $50,000 a year.

[Anonymous]

Ebay - when I get the train bug, I sell some of my older railraodiana; when I get the railroadiana bug, I sell some of my racing photos, when I get the racing bug...oh, I don't get the racing bug as much as I used to... Anyhow, I agree that eBay is a great way to buy stuff that might have a few miles on it but that runs well.

[Frank53]

I work

[dougdagrump]

I used to, now I'm just an old retired curmudgeon. [:D]
Unfortunately being retired requires one, without deep pockets, to be rather judicious in your expenditures.
Just remember your kids will decide which nursing home you go to. [:D]

[IronHoarse]

I save until I have enough to get what I want. I then buy it with a credit card and pay the bill off when it comes. I hate paying interest, so I don't. The train savings account is getting up there once again so it looks like a purchase will be in the not too distant future. I have two engines now but do not plan on getting too many more, maybe a couple. I am planning on getting the PRR F4 A-B-A from the new Lionel catalog. I also want four standard O cars in the PRR road name,a log loader, UPS package station, a grade crossing with flashers, a Hard Rock cafe, two houses, and some more TMCC stuff. The TMCC stuff may have to wait until next time though.

[jakeoregano]

I usually us my plastic to pay for my purchases, but only to the extent that I know I can pay the bill when it comes. I loathe to pay banks interest on anything that I don't have to live in or drive. Ebay can be addicting, because everything I want is on Ebay right NOW!! So, I've had to be disciplined. I've taken a 'measured' approach to my purchases. Part of the fun for me is taking the time to find the right item I want at the price I am willing to pay. It took me over a year to find a prewar box car in the condition and for the price I was willing to pay.

I also need to be careful spending, because I'm planning my permanent layout. If I go nuts on Ebay buying locos and yet another GG-1 [:D], I won't have any money for benchwork, track, scenery, etc. and it will take me that much longer to finish it, let alone get started That stuff all adds up, and I have enough trains to run in the meantime.

[Buckeye Riveter]

Work two jobs.

[Anonymous]

QUOTE: Originally posted by Buckeye Riveter

Work two jobs.

Also skimming from the wifes checking acct. Stealing from Mother in Laws purse, candy from babies etc.
Havent resorted to bank robbery, or selling crack, yet, but the year is young and the Lionel catalog just came out.................Tim

[Jumijo]

I sell stuff from one hobby to pay for another.

Jim

[FJ and G]

I use the bonus from my company each year.

[thor]

The slush fund. This is what I call the loose change and odd bills that accumulate and which I 'hide' (usually in my toolbox where its just inconvenient enough to get to) and then when the time comes I'll put in a plug for some spending money and the slush fund makes up the difference.

[ChiefEagles]

Flying around the country fro Pro Mariner. Spending too much time up NAWTH. Should be building my layout and fishing. [:(]

[dbaker48]

SAVE, SAVE, SAVE I limit myself to one train a year, and attend local train meets, (we have two a month) Usually find some pretty good deals in the auction or items that are not real pretty. Also try not to end up with two of the same type of engine or multiple cars of the same type. Sometime acquaintances have trains they want to sell or just get rid of. I stay away from ebay and definitely only use cc if I am paying it off with the statement. I agree the anticipation and search for a desirable piece makes that more valuable when I find it. Next major item. 6-28029 could be awhile.

[laz 57]

I can go to my train guy at BARRY's Trains get one and pay as I go.
Put so much down take the train and pay him in istallments.
Great deal when you are a frequent customer.
laz57

[wrmcclellan]

LAZ - Obviously he gives you preferrential treatment when you go in with the 700 lb BEAR!

[Anonymous]

The problem with credit cards is that they are so much easier to use whem buying mail order. None of the dealers I use take electronic checks or debit cards. So Instead of mailing a check off and waiting days for it to clear I use a credit card. I pay the bill as soon as it comes in. The problem is that some credit cards charge a minimum interest fee even if you pay the balance off at the end of the month.

[mickey4479]

Discover Card. 1% cash back. Pay it all off when the bill comes.
I put virtually everthing I buy, car ins., gas, internet fee, food, clothing, home improvements, phone bill, trains, on Discover. I once made a substantial down payment on a car with Discover. Later I did the same thing on a fishing boat. I did that knowing I had the ca***o pay it off when the bill came. When you think about how much a peson even with modest to average resources purchases in a year, saving 1% is pretty good.