Finance or Outright ?

[Reu]

BOOOO!!!!!!!!!!!!!!

Can someone please message me and let me know when this thread has either run out of mileage and comes to an overdue but natural end or one of the moderators puts it out of its misery!!

I contributed myself to this thread although after my last post I promised myself I wouldn't take a peek again. I logged on and saw it again today and I couldn't help it.

It just looks to me that there just isn't going to be an overall agreement.

Whether it's right or wrong, moral/ethical or not one thing I have noticed is that the posts from UK members seem pretty different to the US members. There you go - a new angle!!

Again I'd just like to say I am unbiased. Live and let live, as long as its not harming anyone else.

I truely have to get off here for a while. I just seem to feel compelled to open this thread up when I visit here haha.

[SeamasterGMT]

Had to jump in just to say...

I walked into an Audi dealer and said "I've got cash, can you give me a discount?" He first said "no, if you took finance, we get a kickback from the finance company so I could knock some off if you wanted to take it out". then he said "we can only accept ( can't remember exact amount but something like £10k) because of anti money laundering measures.

It could be worth it to take the finance on a car if it means getting a better deal - just make sure there is no early payment penalty.

[c.rod]

Without getting into everyone's earning power IMHO this question is based on where u are at financially. How much u make compared to your bills. If your not stretched than to me it's not a big deal. If its just a other line of credit that adds up to a bunch of unsecured debt I would say no.

U have to figure if its a $10k watch at 0% for 3yrs. That's $277 a mo. IMHO if there were no plans to try and pay it off early with Bonus or tax money etc. I wouldn't want that kind of a payment on a watch.

[Shikar]

Originally Posted by Rashid.bk

I think I read some sarcasm, if so, I agree.





^save 500K for a house, really.
where are you gonna live those years where you can conservatively save that much, with mom, in a slum.
what percentage is wealthy, actually I should say rich who can afford to drop 300-500k in cash on a house(oh, and still have x amount of $ saved up for the future) because that 15% of the population will be the only home owners. don't stop there, how about the car and health care......


sorry, but to much ridiculous in this this thread.

to much left or right is extreme. plan ahead, meet in the middle and be wise.

How about gifting a 550k home to your parents at 41?? What a crazy idea?? :)
I will let you pretend to make the wise decisions. My private client banker spent 15 min in my office yesterday trying to convince me to finance something, he is a nice guy.
I am 44 and have a lot more tolerance now, please enjoy financing and paying interest/rent/lease etc.

Regards.

[R_Ongjoco]

I never borrowed money for any watch yet. If possible, I would use my credit card for the points and pay it off at the end of the billing cycle. However, I also made a rule with myself that I wont buy anything (except for cars, house) that I can't pay off in 3 months. That's the maximum I've given myself. So far, havent used that rule as I havent bought anything I dont have cash for.

[T. Ferguson]

I get the the idea that 0% financing is "free" money. Still, I'd pay cash. The way I look at it is by financing the cost of a watch I'm not going to make that much with the $10K by holding on to it at current interest rates. At least certainly not enough for me to have to be on the hook to to write a check every month and have unnecessary debt going against my credit. It just seems to me that if I have to finance it then I can't really afford it. We are talking about a pure luxury item for gosh sakes. And if I don't "have" to finance it I don't see enough incentive in it for me to do so.

Of course that's me, and I'm a guy that pays cash for his cars for the same reason. I just hate having to owe somebody money every month. But at least with a car you are financing something that you need to get to and from work where you make money. Similarly, a house is a true investment and can have tax advantages.

Buying a watch on time? Not for me. But if you do finance it I'd suggest buying one with a date function so you'll be reminded when your payment is due each month.