How to Finance SCUBA Gear

How to Finance SCUBA Gear
The price for a complete, basic kit of scuba gear can be expensive. This is especially the case if you want to buy quality gear, and hardly anyone wants to dive with a cheap, second-rate regulator. One way to assemble a complete set all at once is to seek financing, but unless you want to resort to using your credit card, this will require some serious research.

Instructions

Difficulty: Moderately Easy

Step 1
Call your local dive shops first, and inquire about financing or lay-away plans. Independent financing is not common among small or mid-sized retailers anymore, but lay-away plans are more widely available.
Step 2
Suggest a lay-away plan to your local dive shops if none have one. Someone may be willing to make an impromptu arrangement with you, rather than lose your business over financing. For example, a set of Mares scuba gear featuring an Abyss regulator, Puck 2 dive computer console, a Vector BCD, and a good quality wetsuit, wet boots, and fins might cost $1,700 even after discounts and buying the wetsuit, boots, and fins used on e-Bay. At $250 a month, that package would be bought and paid for in seven months.
Step 3
Expand your search to online retailers to improve your bargain-hunting power, and finance your scuba gear with a credit card. Use the lowest rate card you have, and design a reasonable re-payment plan for your scuba gear purchase, and then stick to it to minimize the (probably) higher interest rate payments. The simplest thing to do is multiply your total by your APR, and base a payment plan on that. For example, $1,700 at 18 percent is $2,006. At the same $250 per month, it will be paid off in eight months. It will actually cost a bit less than $2,006, as you will be paying back the balance rapidly, but that math is good enough for these purposes.

Tips & Warnings

 
Retailer-sponsored financing plans are more common in Australia, Canada and the United Kingdom. If you are a citizen of those countries, look around online before resorting to your credit card. You can usually get a better interest rate that way. A good online retailer for scuba equipment is Joediveramerica.com that offers steep discounts of between 50 percent and 60 percent on basic scuba gear packages.
 
Retailer-sponsored financing plans are more common in Australia, Canada and the United Kingdom. If you are a citizen of those countries, look around online before resorting to your credit card. You can usually get a better interest rate that way.
 
A good online retailer for scuba equipment is Joediveramerica.com that offers steep discounts of between 50 percent and 60 percent on basic scuba gear packages.

Article Written By Edwin Thomas

Edwin Thomas has been writing since 1997. His work has appeared in various online publications, including The Black Table, Proboxing-Fans and others. A travel blogger, editor and writer, Thomas has traveled from Argentina to Vietnam in pursuit of stories. He holds a Master of Arts in international affairs from American University.

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