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Thread: Daniel Defense Financing Your Next AR

  1. #51
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    Ok, so I created an account to see what this was all about (FYI I do not see it any different than a person using a credit card to buy a rifle). Here is some of the info found on their site. Please let me know if you have any question that I did not answer.

    Depending on FICO score interest rates range from 9.99% to 17.99%
    Financing up to 48 months
    minimum amount is $1000 to finance (but it says you must have rifle or upper to proceed).
    Lender uses ACH (auto debit from checking account)
    $0 down payment
    90 days to make purchase once loan is approved
    Shipping cost will be included in loan amount
    Taxes not part of it (Did not say it was included in loan amount)
    Pay off loan any time without penalty

    This is the "bank" that they are using - Citizens State Bank and Commonwealth Ordnance Finance Company LLC
    Standard credit form

  2. #52
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    You just identified another fleck of BS in this cow pie of an offer. You have to grant bank draft permission to some finance company. Right up there with used car lots.

    This is worse than buying on a credit card for a few reasons.

    17% for someone with a 700 FICO is a rip. If you shop around, you can get a better rate.

    Also, with a credit card, you can shop around and save hundreds off list price.

    Despite all this, buying a gun you don't need with money you don't have is dumb. If you don't have one and have to finance, then get a basic Colt.
    Last edited by TexanInCali; 07-24-14 at 18:45.

  3. #53
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    I am not getting one nor would I finance a firearm. However, I find it interesting that a firearm manufacture is doing this. Plus, not knocking DD, but like has been said before one can get a better deal than this for a good AR.
    Last edited by JWR075; 07-24-14 at 18:50.

  4. #54
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    Quote Originally Posted by TexanInCali View Post
    You just identified another fleck of BS in this cow pie of an offer. You have to grant bank draft permission to some finance company. Right up there with used car lots.

    This is worse than buying on a credit card for a few reasons.

    17% for someone with a 700 FICO is a rip. If you shop around, you can get a better rate.

    Also, with a credit card, you can shop around and save hundreds off list price.

    Despite all this, buying a gun you don't need with money you don't have is dumb. If you don't have one and have to finance, then get a basic Colt.
    Not a big fan of the available rates either but let's take a deep breath. First of all there is no indication here that a 700 credit score merits a 17% rate. I'd suspect that such a score would be deemed rather favorable, especially today, and likely have a lower rate but without more specifics we can't be certain. Also there is often little to no option, credit card or not, to "shop around" a specific manufacturer's rifle and "save hundreds". It is possible in some cases perhaps but the profit margins aren't normally that high for it to be close to some kind of default option. Lastly the lack of a penalty for an early payoff means that you can pay the principal balance and exit the arrangement at any time, only losing the interest you've paid up until that point.

    That said a rate of 9.99% for someone with a 700 or better FICO is too high, so on it's face it would seem the program has room for improvement.
    "Facit Omina Voluntas = The Will Decides" - Army Chief


  5. #55
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    Quote Originally Posted by TexanInCali View Post
    If you don't have a rifle, and can't afford to buy one in cash, this is still not a good way to go.

    If you must finance a rifle, get a reasonably priced Colt, which can be half the price of a DD, especially since this seems to be a full MSRP deal. Put the Colt on a credit card and pay it off ASAP. You'll have a great rifle and you'll be in much less debt.

    Come to think of it, given that this appears to be a full MSRP price for these rifles, it's an even more screwed "deal".
    DD website for a v7 LW $1559
    GandRtactical v7 LW $1559
    BCM had the upper for $750
    So not really a bad price.
    "The most important rule in a gunfight is: Always win and cheat if necessary." ~ Clint Smith

  6. #56
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    I am the proud owner of two Daniel Defense ARs. I bought the first one as my very first AR after doing so much research my head hurt and I was so confused I could hardly think straight. I got a DD M4V1 from a seller in Iowa about six years ago for $1,000. Have never looked back. It has never let me down. I've let it down a few times by stupidly not lubricating it properly. A good treatment of lithium grease and back in business.

    I then purchased, more recently, a DD M4V7, love it.

    I've seen various brand ARs fail around me in the dozens of Carbine classes I've taken.

    Nobody ever has had a Daniel Defense though.

    FWIW, and as always, respectfully offered, knowing YMMV.

  7. #57
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    I would rather put one on layaway somewhere and pay it down over 90 days than buy one at 18%!

    I got my DDM4v5 from Buds for $1100 new.
    Last edited by jataylor11; 07-24-14 at 19:25.

  8. #58
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    Quote Originally Posted by jataylor11 View Post
    I would rather put one on layaway somewhere and pay it down over 90 days than buy one at 18%!

    I got my DDM4v5 from Buds for $1100 new.
    Darn good price there.

    I know Bud's takes a lot of crap, but they are my "go to" online retailer for many handgun and rifle purchases. I have never had any problems with the over many transactions.

  9. #59
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    Quote Originally Posted by zombiescometh View Post
    DD website for a v7 LW $1559
    GandRtactical v7 LW $1559
    BCM had the upper for $750
    So not really a bad price.
    I'm surprised that Grant is charging full list. IIRC, they used to offer a free Aimpoint PRO with purchase of some DD models, but seem to have discontinued.

    Regardless, much better deals can easily be found. A good friend of mine paid around $1200 for a V5LW a few months back and quick Google search found several new ones at $1200-1300. They're $1689 on the DD site.

  10. #60
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    Quote Originally Posted by TexanInCali View Post
    I'm surprised that Grant is charging full list. IIRC, they used to offer a free Aimpoint PRO with purchase of some DD models, but seem to have discontinued.

    Regardless, much better deals can easily be found. A good friend of mine paid around $1200 for a V5LW a few months back and quick Google search found several new ones at $1200-1300. They're $1689 on the DD site.
    Yep totally forgot about checking buds $1260 for the V7 and they now offer 10% down 180 day layaway.
    Last edited by zombiescometh; 07-24-14 at 19:41.
    "The most important rule in a gunfight is: Always win and cheat if necessary." ~ Clint Smith

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