Not your typical "What's it worth?"

[hittman77]

Never loan money to friends, co-workers or relatives that you expect to get back or must have back.

Consider it a gift when you "loan" it and a pleasant surprise if you get it back.

There's an excellent chance this will come between you some how .... some way .... some time.

 

[H Richard]

I was in the loan business for 5 years way back. #1 rule was "Never loan money to friends or relatives".

 

[TNDave]

I wouldn't want to go down the loan road. Either buy the gun and be done or pass on the deal.

 

[Tom_R]

Good advice above .......

Only way I'd do it is to buy his 29 for $500. Get it transferred to you he pays....... tell him he can buy it back in X amount of time for $X ( don't forget your lost income/use of your money) and he pays all transfers when he buys it back...... write up the deal and have him sign it......

on second thought don't do it!!!!!!!!!!! Good advice above!!!!!!!

This is great advice.

Offer him $500, to $600, and then let him know he has 6 months to buy it back.

He may not want to buy it back, even if he can and then it is a win-win.

I would not do a collateral/loan though either.

 

[jrs70]

IMHO the best thing todo is walk away from this matter.

 

[Lobster Picnic]

Yeah, I'd offer to buy it outright for $600 and tell him he can buy it back within a year for $700.

 

[Matchking Man]

Well I'd like to Thank everyone for the replies. I just bought the gun this afternoon for $400 plus notary cost on the bill of sale. After reading everything it just seemed to be less painful than borrowing him cash. Thanks again

 

[CleanHarry]

LADIES AND GENTLEMEN...... MAJOR..... DICK..... FITZWELL!!!!!! The crowd roars.

 

[Biginge]

I dont see much of an upside for you. I recently bought an anib 29 from local pawn eporium for less than $500. See my post. I wouldn't touch this with an 11 foot pole

 

[BobC357]

Rule for loaning money...
It is YOUR money when you loan it.
It is THEIR money when you want it back.

Basically, If I loan it, I don't expect to see it again.