Pay in full or use credit card?

[makebread]

Hi all,

Just curious: how many of you pay for a new watch at an AD in full (cash or card), and how many put it on a credit card?

I've always paid in full. Trying to see the benefits of the latter.

Do some prefer to stagger the payment rather than take such a big hit/tie up a large sum in one go?

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[2th_doc]

Getting my popcorn ready.


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[640ibimmerguy]

Originally Posted by 2th_doc

Getting my popcorn ready.


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[Chester01]

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

[jvb.nc]

Originally Posted by chester01

i pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

+1

(but i usually apply the points to miles so i can travel free)

[dtwer]

Sorry to say but what kind of question is this? No no no no no.., you don't pay cash on this kind of thing.

I open a new credit card with 18 months no interest, buy the watch on the card, and pay the monthly minimum during the 18 months.

When the interest free period ends, I take out a HELOC to pay off the card, and continue to pay the monthly minimum.

This way I think I can pay off my beautiful Rolex in, say, 23 years.

This is how you roll, baby.

[Dlong]

Just bought a Zenith El Primero and the AD wanted CC. No additional fees. You want the points, right? He said. Sure do. When I purchased the 2 Rolex back in October 2017, it was check because of the discount. No problem.

[whatsthetime?]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.

Yeah, pay cash so you don't have a CC company backing you incase of an issue, lose money on points and don't take advantage of 12-18mos 0% interest. Using all of these benefits is smart and doesn't mean you don't have the cash to buy a watch.

Originally Posted by JMTE

Exactly.
I have also used a credit card with 0% interest for an 18 month period and invested the cash I would’ve used to pay if off to scrape interest. I got about 2% cash back on the purchase with the card, shipped out of state to avoid sales tax, and earned about 3% on the cash until the balance is due.

I don’t think people would recommend that but it worked for me, ended up saving me thousands (tax, interest, cash back) off of the price.

+1

[F33A]

I see that you all seem to be talking about buying from Ads. I just bought a platinum Day Date from a "trusted dealer" and elected to send a wire to avoid the 3% premium on an Amex transaction. It was a noticeable saving and I don't need the miles. Don't ask about the sales tax.

[jvb.nc]

Originally Posted by F33A

I see that you all seem to be talking about buying from Ads. I just bought a platinum Day Date from a "trusted dealer" and elected to send a wire to avoid the 3% premium on an Amex transaction. It was a noticeable saving and I don't need the miles. Don't ask about the sales tax.

i am about to buy a platinum DD as well and i will be wiring the money direct from my bank for that purchase.



all the rest go on my card.

[BumbleB]

Originally Posted by whatsthetime?

Yeah, pay cash so you don't have a CC company backing you incase of an issue, lose money on points and don't take advantage of 12-18mos 0% interest. Using all of these benefits is smart and doesn't mean you don't have the cash to buy a watch.



+1

Maybe I read the post wrong. I also use a credit card to pay for my Rolex, but I immediately transfer the same amount back to the credit card. I don’t ‘borrow money from the bank at interest’ to pay for my Rolex is what I meant


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[ByronB]

I agree, I always use my AmEx charge card for the points and pay it off when the bill comes in. Works great at an AD, but that doesn't work with gray's though because they will charge you the extra percentage.

With that being said, a friend of mine was lucky enough to have to choose between a white or black SS Daytona back in 2016 that Tourneau had in stock! He was offered 0% for three years, so he took the white face at 0%/3yrs. I think he came out better than with the the AmEx points, because he got to use their money for free. Not a bad deal, especially knowing what his watch is worth now!

[fenway]

I bartend (guess where?) as a second job and put away $25 a night.

Then, every 3 to 5 years, go out and buy a vintage Rolex in cash for myself. And my wife is good with this

16610, 16014 (Buckley), 16710 (all 3 inserts and both bracelets), 18038, and 16570 (Polar) so far. Daytona and Calatrava on deck in the future.

[Raypep]

Originally Posted by chester01

i pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

+1

[Njw]

Bought my Submariner on a 0% interest credit card for 30 months and left the money invested in funds averaging 20% a year growth. Why anyone would pay the full amount when you could keep the capital invested is a mystery to me.

[Monty22]

Originally Posted by Njw

Bought my Submariner on a 0% interest credit card for 30 months and left the money invested in funds averaging 20% a year growth. Why anyone would pay the full amount when you could keep the capital invested is a mystery to me.

Hope to works for you. Financial logic does not rule the day for most


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[Chadridv]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

this

[MichelleP]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

Same

[Fort Rolex]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

Exactly this. Always collect your points!

[Ivan Drago]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This way

[garyk]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

Ditto

[BroncoOne]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This.

You are both paying in full and using a credit card. Interest free loan for 30 days. Be sure to pay off the card in full when the bill comes

[mulberry083]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This is the way


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[Booth9999]

Originally Posted by Chester01

I pay credit card, get the points and then pay it off when the bill comes in. All points and no interest. Unless they are giving some discount which is unlikely.

This is the best way, you get a little extra back.

[BumbleB]

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.


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[strafer_kid]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.


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Yep!

[m j b]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.

This.

But I use a credit card because they won't give me a discount for cash, and I get 1.5% back (as cash). On my new sub, at $7900 plus sales tax, that's a $127 rebate. Well worth it.

And yes, I pay it off when due.

Plus, I get a minimum of 30 days before it's due, which can be nearly 60 days depending on when in the cycle I buy the watch. So that's free money that I'm earning interest on.

[GGGMT]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.


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This


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[taitun4life]

Originally Posted by BumbleB

My opinion: If you can’t pay in full don’t buy it. It’s a luxury product, not a necessity.

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+1 but I put it on the credit card for the points and then pay off. No interest and I get the points accrued.

[KJBrandal]

Pay with credit card, then pay that off immediately! Buying a Rolex gives a good amount of "cash back" hehe