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jasonbellevue · 23 February 2008, 04:58 AM

Some of my friends lease their luxury vehicles, just so that they can drive a different model every couple of years BUT I have never heard of a lease to own a luxury watch service.

Would you lease to own a Rolex? Personally, I don't like to lease anything

What are the benefits in leasing a Rolex? If you lease, do you eventually give it back and lease a different model at the end of the lease, or pay off the balance and keep the watch?

Check it out and tell me what you folks think?

http://www.firstwatchleasing.com/FAQ.aspx

wantonebad · 23 February 2008, 05:03 AM

Depending on risidual and overall cost I'm assuming it's a waste of money, the little reading i did seemed vague on the key details

JBat · 23 February 2008, 05:12 AM

I wouldn't lease, but I would finance if on a same as cash basis. Most Rollies don't cost enough to warrant something like a lease, IMO. If I want it bad enough, I'll pay cash or save until I have the money.

wantonebad · 23 February 2008, 05:19 AM

Quote:

Originally Posted by JBat

I wouldn't lease, but I would finance if on a same as cash basis. Most Rollies don't cost enough to warrant something like a lease, IMO. If I want it bad enough, I'll pay cash or save until I have the money.

Agreed, but if you wanted that Platinum President this would be a way to get it today... I bet they have some takers

cbrenthus · 23 February 2008, 05:20 AM

^ I financed my GMT interest free same as cash for a ear with 20% down. When I went in for my 2nd to last payment, I did the same deal on the LV, and the way the billing works, my first LV payment won't hit until after I pay the last GMT payment.

However, my AD is getting strickter on their pricing, and I'm considering, when the LV is paid off, not buying another one and then putting the payment money into a savings account every month. Then finding a more negotiable dealer, possibly out of state, to deal with.

As for leasing, I just can't see it being cost effective when If you really want one and have good enough credit to lease, you could finance interest free whether its with a store account or even another credit ard with intro rate or something.

Welshwatchman · 23 February 2008, 05:21 AM

Let's think about this.

Pay $$$$ a month for 3 or 4 years.

Wave goodbye to watch.

I'd rather have a little bonfire with my cash.

dienstuhr · 23 February 2008, 05:29 AM

Interesting!

The players sound serious. The principal is Joseph Lam, who formerly owned Timezone.com and recently sold it to Antiquorum, which is also involved in the lease business (somehow, it's not clear).

That said, I wouldn't lease a watch. Too many tricky issues, like what do they take for security for the watch? What if you lose the leased watch or it's stolen? You don't "own" it so presumably it's not covered under your homeowner's policy. I think if you can't afford to buy it outright or finance through credit you shouldn't be buying it.

People who lease nowadays often do so because they can't afford the monthly payment for buying.

$48,000 car - no interest finance - 48 mo. term - $1K/month

$48,000 car - no interest lease - 48 mo. term - residual amount $24,000 - $500/month

Of course at the end of the lease you have nothing...

Cheers

d.

Art 1 · 23 February 2008, 05:32 AM

No.

JPP · 23 February 2008, 05:44 AM

No

Not as Rolex keep their re-sale value pretty well. It's not like a car where you suffer severe depreciation in price within the first year of ownership.

2careless · 23 February 2008, 05:49 AM

I suppose leasing only works out if you get tax benefits out of it at your part of the world and a usual proviso is if the goods leased is "work related". I know many real estate agents here do novated lease on luxury euro cars because they can claim high tax deductions as they clock up lots of miles driving clients etc.
Your mileage will vary.

f16570 · 23 February 2008, 05:53 AM

Lease a car cannot be compared to a watch.
If it depreciates lease it, if it appreciates buy it.

Thomas · 23 February 2008, 05:55 AM

Personally I can't see making payments on a watch, even if it's zero interest for the term. Just as an example if you financed a $5000 Rolex interest free for 12 months, the payment is $416.67 per month. To me, that's a pretty big payment for a watch.

East Bay Rider · 23 February 2008, 06:08 AM

Buy outright and avoid the bill. If you can't then save until you can.

f16570 · 23 February 2008, 06:10 AM

Quote:

Originally Posted by Thomas

Personally I can't see making payments on a watch, even if it's zero interest for the term. Just as an example if you financed a $5000 Rolex interest free for 12 months, the payment is $416.67 per month. To me, that's a pretty big payment for a watch.

So how exactly without saving the $416.67 a month did you get the money for the watch?

StanGMT · 23 February 2008, 06:15 AM

Quote:

Originally Posted by JPP

No

Not as Rolex keep their re-sale value pretty well. It's not like a car where you suffer severe depreciation in price within the first year of ownership.

Quote:

Originally Posted by f16570

Lease a car cannot be compared to a watch.
If it depreciates lease it, if it appreciates buy it.

I agree entirely. Also, a watch that you acquire while you're young and that might last you a lifetime (literally) is much more likely to become a treasured possession with a lot of sentimental value - it's best to own it outright.

Stan.

Letsgodiving · 23 February 2008, 06:26 AM

I wouldn't lease a car and I definitely wouldn't lease a watch.

A friend of mine works as adjuster for an insurance company and had a claim with a guy who totalled his vehicle. Turned out that the wheels and tires were rented for $250 a month. That's $3000 a year for wheels you will never own! Of course, the car was also financed and he was upside down on that as well.

ratmotortom · 23 February 2008, 06:35 AM

There are probably some that this would work for. I'm sure there are those who finance their watches and make payments. Some may get rid of them before they are paid off and roll the balance into a new purchase. People also do this with cars. In this case, I would say the lease may work. For the person who is going to make payments regardless, the lease might work. It wouldn't be for me though.

I would think the dealer would make out great on a Rolex lease though. The end value would be high and the used watch would be easy to resell or re lease. Interesting idea.

Spark · 23 February 2008, 06:47 AM

I'd sell my soul to own a 6263 Daytona with black acrylic bezel and Silver dial with Black subdials, but lease it hell no! I would have to give it back

DS/B MINI S · 23 February 2008, 06:51 AM

Quote:

Originally Posted by East Bay Rider

Buy outright and avoid the bill. If you can't then save until you can.

Yep, simple as that

Perdu · 23 February 2008, 07:37 AM

For me leasing a Rolex is like leasing a pair of dentures, but it's an interesting business idea.

Thomas · 23 February 2008, 07:52 AM

Quote:

Originally Posted by f16570

So how exactly without saving the $416.67 a month did you get the money for the watch?

maybe someone saved for years to make this particular purchase, or came into a windfall of cash.

GoldenBear · 23 February 2008, 07:52 AM

I guess it's different from the standard financing that is offered by most companies except you don't have to give it back or come up with a balloon payment.

SPACE-DWELLER · 23 February 2008, 08:17 AM

I prefer to OWN my belongings (including watches).

Alcan · 23 February 2008, 08:19 AM

I wouldn't lease for one simple reason. Every watch I've ever bought I plan on keeping until they're willed.

stevemulholland3 · 23 February 2008, 08:39 AM

I think I would

mldaytona · 23 February 2008, 08:46 AM

I'd rather steal it than lease it.

Rawhyde · 23 February 2008, 09:42 AM

I don't lease, and I only finance things I absolutely need. Everything else I pay for outright

bgriz · 23 February 2008, 09:56 AM

Only if I could write it off on my taxes...

jasonbellevue · 23 February 2008, 10:16 AM

Quote:

Originally Posted by bgriz

Only if I could write it off on my taxes...

What would it be classified as? Home office expenditure, Mechanical Time Management System?

It's interesting to read everyone's take on leasing, I personally would not lease anything.

jac67 · 23 February 2008, 11:09 AM

I think it's a great idea.

As long as it's a legitimate commercial arrangement, and not a loan-shark type arrangement.

Why not, people do it for 'throw-away items', like TV's, furniture, cars etc. As long as you have the means to pay it off, I don't see the problem.

It may just be a matter of cash flow. See it as "forced savings".

John.

23 February 2008, 04:58 AM	#1
jasonbellevue "TRF" Member Join Date: Mar 2007 Real Name: Jason Location: at home Posts: 5,098	Would you lease to own a Rolex? Some of my friends lease their luxury vehicles, just so that they can drive a different model every couple of years BUT I have never heard of a lease to own a luxury watch service. Would you lease to own a Rolex? Personally, I don't like to lease anything What are the benefits in leasing a Rolex? If you lease, do you eventually give it back and lease a different model at the end of the lease, or pay off the balance and keep the watch? Check it out and tell me what you folks think? http://www.firstwatchleasing.com/FAQ.aspx __________________

23 February 2008, 05:20 AM	#5
cbrenthus "TRF" Member Join Date: Feb 2007 Real Name: Brandon Location: FL Watch: ing my second hand Posts: 869	^ I financed my GMT interest free same as cash for a ear with 20% down. When I went in for my 2nd to last payment, I did the same deal on the LV, and the way the billing works, my first LV payment won't hit until after I pay the last GMT payment. However, my AD is getting strickter on their pricing, and I'm considering, when the LV is paid off, not buying another one and then putting the payment money into a savings account every month. Then finding a more negotiable dealer, possibly out of state, to deal with. As for leasing, I just can't see it being cost effective when If you really want one and have good enough credit to lease, you could finance interest free whether its with a store account or even another credit ard with intro rate or something. __________________ www.bknicholas.com www.myspace.com/bknicholas

23 February 2008, 05:21 AM	#6
Welshwatchman "TRF" Member Join Date: Apr 2006 Real Name: Paul Location: Wales, UK Posts: 14,578	Let's think about this. Pay $$$$ a month for 3 or 4 years. Wave goodbye to watch. I'd rather have a little bonfire with my cash. __________________ ..33

23 February 2008, 05:53 AM	#11
f16570 "TRF" Member Join Date: Jan 2007 Real Name: F Location: Scotland Watch: Exp II White Face Posts: 4,272	Lease a car cannot be compared to a watch. If it depreciates lease it, if it appreciates buy it. __________________ Why have what's new when you have what's best. f

23 February 2008, 06:08 AM	#13
East Bay Rider "TRF" Member Join Date: Oct 2007 Real Name: Bill Location: East Bay RI Watch: GMT-II 16710LN Posts: 12,073	Buy outright and avoid the bill. If you can't then save until you can. __________________ I bought a cheap watch from the crazy man Floating down canal It doesn't use numbers or moving hands It always just says "now" Now you may be thinking that I was had But this watch is never wrong And if I have trouble the warranty said Breathe In, Breathe Out, Move On J. Buffett Instagram: eastbayrider46

23 February 2008, 05:03 AM	#2
wantonebad 2024 SubLV41 Pledge Member Join Date: Nov 2007 Location: USA Watch: 126600, 116500LN Posts: 12,849	Depending on risidual and overall cost I'm assuming it's a waste of money, the little reading i did seemed vague on the key details

23 February 2008, 05:12 AM	#3
JBat "TRF" Member Join Date: Dec 2007 Real Name: John Location: Washington Watch: 16710, 16610, DJ Posts: 7,329	I wouldn't lease, but I would finance if on a same as cash basis. Most Rollies don't cost enough to warrant something like a lease, IMO. If I want it bad enough, I'll pay cash or save until I have the money.

23 February 2008, 05:29 AM	#7
dienstuhr Member Join Date: Feb 2008 Location: Canada Watch: Tritium 14060 Posts: 102	Interesting! The players sound serious. The principal is Joseph Lam, who formerly owned Timezone.com and recently sold it to Antiquorum, which is also involved in the lease business (somehow, it's not clear). That said, I wouldn't lease a watch. Too many tricky issues, like what do they take for security for the watch? What if you lose the leased watch or it's stolen? You don't "own" it so presumably it's not covered under your homeowner's policy. I think if you can't afford to buy it outright or finance through credit you shouldn't be buying it. People who lease nowadays often do so because they can't afford the monthly payment for buying. $48,000 car - no interest finance - 48 mo. term - $1K/month $48,000 car - no interest lease - 48 mo. term - residual amount $24,000 - $500/month Of course at the end of the lease you have nothing... Cheers d.

23 February 2008, 05:32 AM	#8
Art 1 Banned Join Date: Feb 2008 Location: Florida, Canada Watch: Rol/Seik/Tud/Omega Posts: 30,244	No.

23 February 2008, 05:44 AM	#9
JPP Member Join Date: Aug 2007 Location: London Posts: 115	No Not as Rolex keep their re-sale value pretty well. It's not like a car where you suffer severe depreciation in price within the first year of ownership.

23 February 2008, 05:49 AM	#10
2careless "TRF" Member Join Date: Dec 2007 Location: Melbourne, AU Watch: Pepsi Posts: 4,370	I suppose leasing only works out if you get tax benefits out of it at your part of the world and a usual proviso is if the goods leased is "work related". I know many real estate agents here do novated lease on luxury euro cars because they can claim high tax deductions as they clock up lots of miles driving clients etc. Your mileage will vary.

23 February 2008, 05:55 AM	#12
Thomas Banned Join Date: Jul 2007 Location: USA Posts: 625	Personally I can't see making payments on a watch, even if it's zero interest for the term. Just as an example if you financed a $5000 Rolex interest free for 12 months, the payment is $416.67 per month. To me, that's a pretty big payment for a watch.

23 February 2008, 06:26 AM	#16
Letsgodiving "TRF" Member Join Date: Jul 2007 Real Name: Mike Location: Virginia, US Watch: SD 16600 Posts: 4,319	I wouldn't lease a car and I definitely wouldn't lease a watch. A friend of mine works as adjuster for an insurance company and had a claim with a guy who totalled his vehicle. Turned out that the wheels and tires were rented for $250 a month. That's $3000 a year for wheels you will never own! Of course, the car was also financed and he was upside down on that as well. __________________ The fool, with all his other faults, has this also - he is always getting ready to live. - Epicurus (341–270 BC)

23 February 2008, 06:35 AM	#17
ratmotortom "TRF" Member Join Date: Mar 2007 Real Name: Tom Location: Ohio Watch: TT Blue Sub Posts: 447	There are probably some that this would work for. I'm sure there are those who finance their watches and make payments. Some may get rid of them before they are paid off and roll the balance into a new purchase. People also do this with cars. In this case, I would say the lease may work. For the person who is going to make payments regardless, the lease might work. It wouldn't be for me though. I would think the dealer would make out great on a Rolex lease though. The end value would be high and the used watch would be easy to resell or re lease. Interesting idea.

23 February 2008, 06:47 AM	#18
Spark "TRF" Member Join Date: Oct 2006 Real Name: Mark Location: U.K. Watch: Too Many Posts: 2,097	I'd sell my soul to own a 6263 Daytona with black acrylic bezel and Silver dial with Black subdials, but lease it hell no! I would have to give it back

23 February 2008, 07:37 AM	#20
Perdu "TRF" Member Join Date: Jul 2007 Real Name: Gary Location: GMT-6 Watch: GMT Posts: 3,350	For me leasing a Rolex is like leasing a pair of dentures, but it's an interesting business idea. __________________ Omega Seamaster 300M GMT Noire Omega Seamaster Aqua Terra 8500 Benson 1937 Sterling Silver Hunter

23 February 2008, 07:52 AM	#22
GoldenBear "TRF" Member Join Date: Jun 2007 Location: San Francisco Watch: Submariner Posts: 2,480	I guess it's different from the standard financing that is offered by most companies except you don't have to give it back or come up with a balloon payment. __________________ ____________________________________________ Rolex Blue TT Submariner Rolex SS Submariner Breitling Emergency Mission They are just watches, wear 'em. ____________________________________________

23 February 2008, 08:17 AM	#23
SPACE-DWELLER "TRF" Member Join Date: Apr 2007 Real Name: Bo Location: Denmark Watch: Rolex, of course! Posts: 22,436	I prefer to OWN my belongings (including watches). __________________ With kind regards, Bo LocTite 221: The Taming Of The Screw...

23 February 2008, 08:19 AM	#24
Alcan 2024 Pledge Member Join Date: Nov 2006 Real Name: Al Location: Way Up North Watch: your P's & Q's Posts: 10,473	I wouldn't lease for one simple reason. Every watch I've ever bought I plan on keeping until they're willed. __________________ Member #1,315 I don't want to get technical, but according to chemistry alcohol IS a solution!

23 February 2008, 08:39 AM	#25
stevemulholland3 Banned Join Date: Dec 2007 Real Name: steven Location: tampa bay Watch: 1680 18k sub Posts: 6,672	I think I would

23 February 2008, 08:46 AM	#26
mldaytona "TRF" Member Join Date: Feb 2008 Real Name: Michael Location: USA Watch: me go all out Posts: 1,183	I'd rather steal it than lease it.

23 February 2008, 09:42 AM	#27
Rawhyde Member Join Date: Jun 2007 Real Name: Craig Location: NW Georgia Watch: Blue Sub+Tud Chron Posts: 834	I don't lease, and I only finance things I absolutely need. Everything else I pay for outright

23 February 2008, 09:56 AM	#28
bgriz 2024 Pledge Member Join Date: Nov 2007 Real Name: Brian Location: Chicagoland Watch: ing the markets Posts: 2,194	Only if I could write it off on my taxes... __________________ 126600 SD43 Red 126710BLRO GMT II PEPSI 178274 Midsize DJ Rhodium/Roman- Hers 126334 DJ41 in blue, fluted, on jubilee 116509 Daytona WG Panda 114060 Sub no date 126621 YM Chocolate dial Root Beer 126710BLNR Batman 126613LB Bluesy 126711CHNR GMT II Root Beer

23 February 2008, 11:09 AM	#30
jac67 "TRF" Member Join Date: Nov 2006 Real Name: John Location: Australia Watch: Me Posts: 1,950	I think it's a great idea. As long as it's a legitimate commercial arrangement, and not a loan-shark type arrangement. Why not, people do it for 'throw-away items', like TV's, furniture, cars etc. As long as you have the means to pay it off, I don't see the problem. It may just be a matter of cash flow. See it as "forced savings". John.

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