Loan for hunting

[devon deer]

The only loan I've ever had was a mortgage, and I paid that off early at age 50, then saved up for my Montana hunts on alternate years, 4 visits in total, hunting and fishing is something I would never consider putting myself in debt for.
Or a car for that matter, I can only speak for myself, it's the way I was brought up, everyone has differing circumstances.
Cheers Richard

 

[jt13]

I doubt they’d loan the money to anyone who’s a risk of not paying it back.

Does anyone know if you can just walk into a bank and get a $30k loan without any collateral? Or would you have to put up your house or some property as collateral? Maybe get a home equity line of credit?

Plenty of places will give you $50k-100k unsecured loans. Money in the bank the next day. I've been on some real estate investment forums where guys are using them to fund house flips. People really playing with fire on those, love to know how many get burned.

I've personally seen and been offered up to $80k via email, available the next day for nothing but having a higher than average credit score. That was pre-pandemic and pre-rate hikes, not sure what that market looks like these days.

Edit: here ya go, they're still out there...

 

[Wind Gypsy]

Only gotten through page 3 so far but I'll throw in my 2 cents.

Everyone values these types of adventures differently but IMO a hunt is almost always only worth $30k if $30k doesn't mean much to that person. If one has to take a loan for it and has a family depending on your income, it aint worth it. If it's really about "the experience" a guy could tag along with someone else for a fraction of the cost and not be the hunter.

I did a dall hunt in '19 and while it was an awesome experience, It was less rewarding than most all of my DIY elk hunts where I had to figure things out and make it happen rather than follow a guide around. I was single at the time. I don't think I could justify another hunt of that cost now with a family even though it wouldn't strain us financially.

I fear there are some dark times ahead for many financially and a loan like that could put some serious strain on a family.

 

[Wind Gypsy]

If I'm reading Dustin's price structure right.. A Moose/Caribou combo hunt is $25k + $12.5k trophy fee for second animal (probably caribou). That's $37.5k for your guide fee if you shoot both animals. Plus tips (which is a lot on $37.5k if you don't stiff the guide), travel to/from Canada, taxidermy costs, etc. Well over $40k if you book it now.

 

[MarvB]

Plenty of places will give you $50k-100k unsecured loans.

Edit: here ya go, they're still out there...

I’ve actually used an offer from SoFi once, easy-peasy and had $30k wired to my account in two days!
Used it (at VERY little cost) to bridge tuition for one of my girls when the timing wasn’t right to pay for college as I had most her money tied up in short term bonds and CDs at the time.
Tiny up front fee and I paid it off four months later. Never got to hunt on it though

 

[DouglasR]

If I'm reading Dustin's price structure right.. A Moose/Caribou combo hunt is $25k + $12.5k trophy fee for second animal (probably caribou). That's $37.5k for your guide fee if you shoot both animals. Plus tips (which is a lot on $37.5k if you don't stiff the guide), travel to/from Canada, taxidermy costs, etc. Well over $40k if you book it now.

The fuqs with all this tipping chit?
Especially on something that costs $30k.
If I wouldn’t have joined this forum I prob never would’ve thought to tip a guide.

 

[Mallardsx2]

NEVER take out a loan for hunting.

 

[noharleyyet]

No way...

 

[Ghillieman]

Good Lord dont sell the truck!...Sell the kids!


..lol

 

[WyoDoug]

The danger of financing a hunt, even a once in a lifetime hunt, is that it gets easier to justify it the next time. I don't recommend financing hunting other than using your credit cards and then payiing off the bill at end of the month.

If you have the discipline to make it a once in a lifetime event then I would go with a previous suggesting and take out a second on the home which is easier to get paid off than a high interest conventional loan.

 

[VikingsGuy]

I tend to agree but gambling on health and inflation has me thinking it may not be so crazy of a idea.

I haven’t read all 12 pages so maybe this point has been beaten to death, but the real answer is in your original post that says you can’t afford to save for 5 yrs to take the trip. This means you won’t have the money to pay off the loan over those same years either. As for inflation vs interest, they typically balance out. And really don’t matter anyway if you are admitting you can’t afford it in the first place.

 

[Deleted member 28227]

@Addicting Barry wants you to remember that while all these naysayers are shooting holes in your dreams and saying a big pile of credit card debt sucks...

Make your 2023 resolution to go on the hunt.
1. Open a high APY savings account
2. Set up direct deposit into the account from your paycheck
3. Start calling outfitters and getting pricing, ask about cancelation lists, etc

When the hunt comes around you might be short of 30k, but if you start today, this might be a question about a 10k loan not a 30k.

 

[Addicting]

I haven’t read all 12 pages so maybe this point has been beaten to death, but the real answer is in your original post that says you can’t afford to save for 5 yrs to take the trip. This means you won’t have the money to pay off the loan over those same years either. As for inflation vs interest, they typically balance out. And really don’t matter anyway if you are admitting you can’t afford it in the first place.

Pretty sure I never said that. This whole thread really isn’t about me or my personal finances although it really seems that is where everyone wants to go. It was about timing of health verses money and the amount of a loan interest verses the cost of the hunt/inflation by waiting.

Either way you’re going to pay if you want to go on a dream/OIL hunt. Which way are you going to pay sums it up.

 

[Letthemgrow]

I personally tend to overanalyze the opportunity-cost of every dollar. To me, my mind instantly goes to how that $30k invested now essentially funds a year of freedom (retire, scale back to work a passion project etc) later on in life. That is more attractive to me personally, but that is just my opinion and one that I realize walks a thin line of being so much of a tight-ass now that I will regret it later.

For me, this is how I look at every large value discretionary dollar I spend.
Every time I hear about a 30 year old going on a Canadian dall hunt I do the projected value of that $40k invested for 35 years at 8% return.
No Dall is worth that to me.

 

[RealMuddyboots]

So as some have a $70K truck and boat that is tied up in 15 yr mortgage at some ridiculous amount their depreciation is prob cost of a hunt. I don't have any prob with someone living their life to the fullest.

Quality of life is a balancing act of enjoying as much as you can while maintaining some financial planning. Maybe the planning isn't the max nor what some "believe" is the only way to live life but really comes down to "so what". If they can make it work, its their "row to hoe".
If you are in a technical or managerial position, heck your annual bonus might just enough.

I am driving a 2009 Ram 2500 4x4 with 196K on it. Replacement is insane cost to me but to many others, just part of the "cost of living".?

 

[BuzzH]

I think hunt costs are another example of wages not keeping up with prices of hunts. Similar to wages not keeping up with costs of vehicles, college, houses, etc.

I hunted dall sheep in 1995 and paid for 50% of it with a two week check swinging a pulaski.

I paid $4700 to hunt with likely the best dall sheep outfitter in Alaska and took a B&C ram.

I'm making $40+k a year more now...no way a 2 week check would pay for half a dall hunt.

All that said, I'm in a position to be able to easily afford expensive hunts, my problem is allowing myself to do it.

It's hard to break the habits of not treating yourself to nice things you can afford.

That and over time some of the things I thought I just had to do, don't really seem that much of a priority any longer for all kinds of reasons.

One thing I've also discovered is, it's not my business to tell anyone how, where, and on what they spend their money on. If they're happy, so am I.

I suggest if some want to take a loan to hunt a dream animal, do it. Be sure to take lots of pictures and have a great time!

 

[Steelsearchin]

I would say with no one’s financials the same, a more expensive anything is a financial risk. Wether that be a car, house, boob job, or hunt.

I say go for the boob job and have a sugar daddy pay for your trip! #YOLO

 

[Addicting]

I say go for the boob job and have a sugar daddy pay for your trip! #YOLO

NO, you would never stop staring at my bikini top when we fish together. Lol

 

[Mountain Man]

That took forever to read all 12 pages. I honestly forgot what exactly the original post was at this point.

I also have my OIL dream of a moose hunt in Alaska, but am going DIY in 2024. I cannot personally justify the $30K+ cost of a guided hunt. I especially couldn’t stomach that myself if I didn’t have the money for it.

This dilemma is one of the net present value of an experience versus the impact to future financial security during retirement, which is almost impossible to quantify. You could either be brilliant for having the best experience of your life or a fool living with regret for delaying your retirement for a single hunt.

 

[Addicting]

That took forever to read all 12 pages. I honestly forgot what exactly the original post was at this point.

I also have my OIL dream of a moose hunt in Alaska, but am going DIY in 2024. I cannot personally justify the $30K+ cost of a guided hunt. I especially couldn’t stomach that myself if I didn’t have the money for it.

This dilemma is one of the net present value of an experience versus the impact to future financial security during retirement, which is almost impossible to quantify. You could either be brilliant for having the best experience of your life or a fool living with regret for delaying your retirement for a single hunt.

Yep, well said.