Cold hard cash or is a Rolex just as good ????

[kandyman]

Well I am a bit of a nervous soul at the moment, I've got a few 0% loans for a car and a Rolex watch which seems like a good deal and idea at the time i took it out. But given the uncertainty around the economy and more recently work, I'm getting a bit concerned.

I've got some savings, but just wondering if i should get rid of the Rolex, and settle the loan for it. Or should I just keep the watch and service the loan..I mean a Rolex is good a retaining value right ???

Oh what to do.........advice any one ?

[Lion]

Keep the watch and sell the car. No seriously if you are paying no interest on the loan I would keep the watch and consider selling if your finances takes a dive!!!

[roach13]

You will never get back what you paid for the watch ...... never.

[chriseskew24]

Originally Posted by roach13

You will never get back what you paid for the watch ...... never.

Why do you have a crystal ball. He wount anytime soon but who knows what the future holds for his watch.. Most Rolex's sell for higher then you buy them for if you hold it long enough.

I would keep the watch for now. And if i had to let it go I woul when the time comes. You will defenantly take a hit on what you paid for it right now though.

[kandyman]

I am keener to keep the watch, I really do like it...and I did get a good discount with it plus the 0% loan. What the hell....you only live once. Enjoy and stop worrying I guess....:)

[Tools]

0% loans are generally pretty good because you can keep your interest earning capital and only let it go on a monthly basis..

This is only good if you are able to keep the payments up though.. If you are in over your head, then it was a bad decision from tlhe beginning and a lesson learned about stretching yourself too thin..

Hope that you can keep the watch... it is a lifetime investment.........You won't ever need to buy another watch..........

[kandyman]

Thanks for the advice all...nice to have a take on peoples opinions. I can cover the repayments on the watch and car as I am still employed, but i guess when a company is making cut backs and people around you get nervous and have low morale...it's hard not to get affected. I do hope this economy picks up.....I was hoping the summer would have kick stated it more :) Oh well...I'll just keep my head down and try dodge the axe.

[Numismatist]

Given that you recently bought it (new I assume), then you'll most likely loose money selling it - so don't do it unless you really need the dough.

What did you buy?

[Mosco]

Originally Posted by roach13

You will never get back what you paid for the watch ...... never.

Absolutely wrong. Let's start with - how do you know what was paid for the watch? You can't make a blanket statement like that!

[Idle Swede]

Originally Posted by Mosco

Absolutely wrong. Let's start with - how do you know what was paid for the watch? You can't make a blanket statement like that!

Relax Greg, it's not the first time he makes them.

[Welshwatchman]

Originally Posted by roach13

You will never get back what you paid for the watch ...... never.

I have, five times.

I suggest keep the payments going and keep the watch. Revue the situation if your circumstances change.

A Rolex will be easier to sell than most any other brand if and when the time comes.

[mgm]

Originally Posted by kandyman

I am keener to keep the watch, I really do like it...and I did get a good discount with it plus the 0% loan. What the hell....you only live once. Enjoy and stop worrying I guess....:)

The only good thing about the current economy is that you can't be held responsible for making a stupid decision. Buy, sell, or hold 'em, no one knows what the future holds. You can sell and everything goes up, you can hold and everything goes down, and there's no way that anybody knows. So there's a bit of joy there.

[Mosco]

Originally Posted by Idle Swede

Relax Greg, it's not the first time he makes them.

Leo,

Thanks for the info, my friend!
I know - certain folks just need to be ignored...

[East Bay Rider]

I'm not smart enough to make interest $$ while paying on a 0% loan. I'd rather just save up and pay it all when I can afford to buy it than to have a loan. I guess I just hate paying bills.

[sakuraba]

Keep the watch, forget the car.

I know you guys have the MOT to worry about aside from registration and insurance not to mention repairs and maintenance, so why buy something that will continue to cost you money? Just my worth.

[cowincanada]

Originally Posted by Mosco

Leo,

Thanks for the info, my friend!
I know - certain folks just need to be ignored...

Greg, but its too much fun NOT to ignore them


Keep the watch, until you absolutely need to sell it. You're not losing money
on the 0% loan anyway.

[Mosco]

Originally Posted by cowincanada

Greg, but its too much fun NOT to ignore them

[Jimbits76]

I accept both watches and cash...

Send to:

Bitsy McBitz
Near the Queen and David Jones, Manchester
England
United Kingdom.



J

[Mosco]

Originally Posted by Jimbits76

I accept both watches and cash...

Send to:

Bitsy McBitz
Near the Queen and David Jones, Manchester
England
United Kingdom.



J

Jimbo, you're silly!!!

[BigHat]

sorry.
bad edit

[BigHat]

[QUOTE=cowincanada;1322654]Greg, but its too much fun NOT to ignore them

QUOTE]


Amen, but failure to do so does have consequences. Take it from me.

I'd do nothing until forced too. Ditto regarding the comments on 0% APR loans.

[macstiltskin]

To be honest, you are worrying about something which may well not happen. Stay calm and keep your chin up.

[sexner]

Originally Posted by kandyman

Well I am a bit of a nervous soul at the moment, I've got a few 0% loans for a car and a Rolex watch which seems like a good deal and idea at the time i took it out. But given the uncertainty around the economy and more recently work, I'm getting a bit concerned.

I've got some savings, but just wondering if i should get rid of the Rolex, and settle the loan for it. Or should I just keep the watch and service the loan..I mean a Rolex is good a retaining value right ???

Oh what to do.........advice any one ?

As Larry said you will not need to buy another watch.

If you can comfortably afford to service the loans without resorting to a diet consisting strictly of hot dogs and Kraft Dinner it would be wise to keep the Rolex.

Good luck

[sexner]

Originally Posted by Welshwatchman

I have, five times.

I suggest keep the payments going and keep the watch. Revue the situation if your circumstances change.

A Rolex will be easier to sell than most any other brand if and when the time comes.

And I have also on three separate Rolex's.

[redshirt1957]

It's only a good deal if you can afford it, zero interest or not. If you have the resources to pay off the car(s) and watch at any time then no problem. If you had to borrow money because you did not have the funds, look around, there are many who made that mistake and are in deep trouble. Buy what you can afford and sleep well at night. I used to drive $1,500 cars and sure, people made fun of me. Now, I drive what I want.

[jdc]

Originally Posted by macstiltskin

To be honest, you are worrying about something which may well not happen. Stay calm and keep your chin up.

good advice

[kandyman]

I guess I am panicing a bit....I am very sensible with my money, but did splash the cash a bit more than normal recently. I do have funds to pay these off, but with uncertainty in the job, and collegues dropping left right and centre I am obviously concerned about my position too. Plus wife and kids to feed. If i take a step back I guess I am in a much better financial position than some....calm down, breath.....and then PANIC AGAIN !!!!!!!!!!

BTW, I brought the GV which is a lovely watch. I would really sadden me if I had to sell it.....I have a bond with it now :) Not my first Rolex, but my fav at the moment

[redshirt1957]

Originally Posted by kandyman

I guess I am panicing a bit....I am very sensible with my money, but did splash the cash a bit more than normal recently. I do have funds to pay these off, but with uncertainty in the job, and collegues dropping left right and centre I am obviously concerned about my position too. Plus wife and kids to feed. If i take a step back I guess I am in a much better financial position than some....calm down, breath.....and then PANIC AGAIN !!!!!!!!!!

BTW, I brought the GV which is a lovely watch. I would really sadden me if I had to sell it.....I have a bond with it now :) Not my first Rolex, but my fav at the moment

After getting a little more facts...enjoy what you have and excel at work. We all have a wife and kids to feed so join the club. Put away for the rainey days and love the heck out of the wife and kids and all will be fine. FYI, I am the one who worries in our family.

[kandyman]

Thanks! I think we all need a bit of support some times

Respect to all those who have been there and done it......I'm 33 and still a long way to go to my retirement. But I guess you don't appreciate something enough until you have been there and gone through it....like before we had a kid, I didn't fully appreciate how hard yet how well my parents bought me and my siblings up. Now in these uncertain times, which is the first for me, I now understand how stressful and worrying these times can be. But as you say...family is important and as long as I have them beside me I am sure we can get though difficult times should they come. Fingers crossed, all will be well. As they say...wear in health...and great prosperity

Thanks for the support all.

[redshirt1957]

Originally Posted by kandyman

Thanks! I think we all need a bit of support some times

Respect to all those who have been there and done it......I'm 33 and still a long way to go to my retirement. But I guess you don't appreciate something enough until you have been there and gone through it....like before we had a kid, I didn't fully appreciate how hard yet how well my parents bought me and my siblings up. Now in these uncertain times, which is the first for me, I now understand how stressful and worrying these times can be. But as you say...family is important and as long as I have them beside me I am sure we can get though difficult times should they come. Fingers crossed, all will be well. As they say...wear in health...and great prosperity

Thanks for the support all.

33? Retirement? Hey, you better hope my kind die soon or you will be working the rest of you life just to pay for us old farts. Just having fun. Since you live in the UK I understand you will not have to pay for me, but you get the point and joke.