First time buyer requires ££ advice

[Stevec14]

Originally Posted by jasonsensation

Cheers dude! There's also the factor, i'm still waiting for a BLNR! It could be months or even years until i get offered one! Meanwhile this week i have a good offer of a Black GMT on Interest free credit

Yes, but when the time comes the resale may not cover the loan. If I was you, I’d seriously not get the LN. Buying a temporary watch never works as you always think what could have been. If an extra grand is a deal breaker, maybe 6k on a watch is not the best idea. I’m not being funny, but just thinking about your comments. There are some absolutely fantastic watches for half that price (Tudor/omega etc.)

As someone who has done it however, don’t buy a watch to scratch an itch for another. It never really works, no matter what the financials.

[jps3b]

Ugh! I see. Man that’s a tough decision. I guess I would get the black gmt because you never know when the BLNR will be available. Either way, they are both stunning and you can’t go wrong. If both were available, I say get the BLNR, but since they aren’t, 0% financing is a great deal. Don’t forget pics when you decide.

[jrs146]

I would never recommend taking out a loan to buy a watch. These are luxury goods that should be purchased with extra funds after all other needs are met. Taking out a loan to purchase one indicates that perhaps it’s not the right time to buy one.

Just my opinion. I judge not.


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[Stevec14]

Originally Posted by jrs146

I would never recommend taking out a loan to buy a watch. These are luxury goods that should be purchased with extra funds after all other needs are met. Taking out a loan to purchase one indicates that perhaps it’s not the right time to buy one.

Just my opinion. I judge not.


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Not to move away from the thread and this has been discussed, but nowt wrong with 0% as long as you have the funds to cover the loan if need be and don’t spend them.

[jrs146]

Originally Posted by Stevec14

Not to move away from the thread and this has been discussed, but nowt wrong with 0% as long as you have the funds to cover the loan if need be and don’t spend them.

Again this is just my opinion.

There’s nothing wrong with having the funds and taking out a 0% loan and paying off within the free interest timeline.

However I would not take out an interest free loan if I didn’t have the funds readily available to pay it off at any time.

I’d never consider a loan with interest for a watch.




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[Stevec14]

Originally Posted by jrs146

Again this is just my opinion.

There’s nothing wrong with having the funds and taking out a 0% loan and paying off within the free interest timeline.

However I would not take out an interest free loan if I didn’t have the funds readily available to pay it off at any time.

I’d never consider a loan with interest for a watch.




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Agreed

[Snow-Dweller]

I had a BLNR for a few months but soon tired of that blue. Have been much, much happier with the LN....

[WatchWeb]

Why do you want the Batman ?, the colours?, the fact it’s hard to get and if got, can be flipped for a profit ?.

Id either take out a 0% loan or credit card and get the one you really want. I don’t see the point buying a watch as a stepping stone.

Either save and wait for the Batman or get the LN now and be happy with it.

I was ready to sell mine until I took pics to hand around for prices, then I fell back in love with it and it’s staying

[Stevec14]

I think the LN is a nicer watch overall, but that’s a subjective matter. The BLNR is a cracker.

[Sarosh]

if it’s your first Rolex, and could be your only one for the foreseeable future, then dig your heels in and wait for the one you want. Trust me you don’t want to kick yourself down the line that you didn’t get it right the first time round. No interest, if you have the cash you buy, otherwise save and buy, my 0.02p!!! But good luck in the hunt for the BLNR!

P.s - wait and pay retail!

[jasonsensation]

If i want a BLNR, it means i will have to pay £1,400 in interest..but i can get a Black Ceramic for interest free - would you take the £1,400 interest on the chin? just to get a BLNR or settle for the Black GMT

[jasonsensation]

Also all these so called rolex fanboys in this thread saying 'if you are getting it on finance you shouldnt be buying one anyway M8' thats like saying you shouldnt buy a car on finance, as you cant afford it? Go away trolls, i've met people like that from the internet for fights before

[DLRIDES]

Originally Posted by jasonsensation

Also all these so called rolex fanboys in this thread saying 'if you are getting it on finance you shouldnt be buying one anyway M8' thats like saying you shouldnt buy a car on finance, as you cant afford it? Go away trolls, i've met people like that from the internet for fights before

You asked for “advice” on a PUBLIC forum, but when said advice does not provide you affirmation, the individuals are “trolls” and deserving of physical attack.







Ever consider a Hublot ?

[mountainjogger]

Originally Posted by DLRIDES

You asked for “advice” on a PUBLIC forum, but when said advice does not provide you affirmation, the individuals are “trolls” and deserving of physical attack.







Ever consider a Hublot ?

x2!!!

[AK797]

Originally Posted by jasonsensation

Also all these so called rolex fanboys in this thread saying 'if you are getting it on finance you shouldnt be buying one anyway M8' thats like saying you shouldnt buy a car on finance, as you cant afford it? Go away trolls, i've met people like that from the internet for fights before

The difference is a car is often a necessity while a Rolex is a pure indulgent luxury. And no need to get touchy and lash out with name calling which will not be tolerated here, this is a friendly and mature forum and most advice is well meant so try to be gracious even if you don't agree.

[ikincooper]

Don’t settle for 2nd best here as you’re clearly making a big purchase so best to get what you really want. What’s £1400 really over 5 years after all, £5/week or so.

[Zakalwe]

You say the BLNR will cost you £1400 extra in interest, spread over 5 years. I’m going to assume that’s evenly spread in equal monthly instalments.

You also say the alternative is buying an LN and paying it off over two years.

So that means you could realistically afford to pay off the BLNR over two years. So is there anything in the finance agreement that prevents you from paying off the loan on the BLNR after 2 years? Typically, lenders (I’m thinking specifically of bank loans and car finance deals) don’t stop you from paying back the loan early unless it’s a mortgage. If the finance company will allow it, you’ll only end up paying 2/5 of £1400 interest, so circa £560. Still not as good as interest free credit, but not as bad as your initial calculation either.

[jasonsensation]

Originally Posted by Zakalwe

You say the BLNR will cost you £1400 extra in interest, spread over 5 years. I’m going to assume that’s evenly spread in equal monthly instalments.

You also say the alternative is buying an LN and paying it off over two years.

So that means you could realistically afford to pay off the BLNR over two years. So is there anything in the finance agreement that prevents you from paying off the loan on the BLNR after 2 years? Typically, lenders (I’m thinking specifically of bank loans and car finance deals) don’t stop you from paying back the loan early unless it’s a mortgage. If the finance company will allow it, you’ll only end up paying 2/5 of £1400 interest, so circa £560. Still not as good as interest free credit, but not as bad as your initial calculation either.

That is an idea tbh. The BLNR would be £125 over five years. as opposed to the Black GMT being £230 over two years. i could in theory just increase the monthly payments on the BLNR.

Which brings me to my next point, BLNR's have become almost impossible to get in the UK. AD's are selling purely to people who have purchased previous watches from them

[jasonsensation]

Lol i was only joking about arranging to meet people from the internet for a fight

[crazymcmichael]

This is actually the first topic i read about buying a watch on finance... Is this happening a lot?? I am from Europe, i think it even don't exist here...... Also i don't want to do this, but it makes me curious somewhat if there are more dudes on this forum actually doing this? But if so theoretical it can mean any poor person can own a decent watch, right? I won't feel comfortable with it for sure..... But it expands my insight on the other hand how incredible costly my money really is that i spend so easily on things like watches,hollidays etc etc
when i was young i never could save up my money, but if i have a target now i can get very very rich in a very short period of time...... I don't know how i actually do this but i can save a fortune in a short period just by ''wanting'' something badly lol.. Perhaps now it is time to quit smoking, stop your alcoholic behaviours and stop eating all candy's and snacks you do extra , than it gives u even more profit than just a ''watch'' Also i can give you a little tip of searching in your home boxes full of stuff you won't use anymore and putt it online on free market places... It can literally bring you thousands of dollars,euros,pound whatever think of cycles,books,cds,gitars stuff you never use anymore... It can give you really quick a lot of cash...... Offcourse, you have to expect realistic loss on the purchase of this products in the first place but hé...

[Zakalwe]

Originally Posted by crazymcmichael

This is actually the first topic i read about buying a watch on finance... Is this happening a lot?? I am from Europe, i think it even don't exist here...... Also i don't want to do this, but it makes me curious somewhat if there are more dudes on this forum actually doing this? But if so theoretical it can mean any poor person can own a decent watch, right? I won't feel comfortable with it for sure..... But it expands my insight on the other hand how incredible costly my money really is that i spend so easily on things like watches,hollidays etc etc
when i was young i never could save up my money, but if i have a target now i can get very very rich in a very short period of time...... I don't know how i actually do this but i can save a fortune in a short period just by ''wanting'' something badly lol.. Perhaps now it is time to quit smoking, stop your alcoholic behaviours and stop eating all candy's and snacks you do extra , than it gives u even more profit than just a ''watch'' Also i can give you a little tip of searching in your home boxes full of stuff you won't use anymore and putt it online on free market places... It can literally bring you thousands of dollars,euros,pound whatever think of cycles,books,cds,gitars stuff you never use anymore... It can give you really quick a lot of cash...... Offcourse, you have to expect realistic loss on the purchase of this products in the first place but hé...

I’m probably not directly addressing your specific point and I certainly don’t advocate people buying watches that they can just barely afford to. But leaving that group of people aside...

If you can afford to buy a watch in cash outright, but interest free finance is offered, you’d actually be financially incontinent not to take it. The reason being you can make the lump sum cash you save by taking the loan work for you to earn money. So let’s say you want to buy a £10k watch and you have the cash going spare. You take out an interest free loan for a year to pay it off in monthly instalments. You put the £10k in a savings bond that pays 5% interest (yes, I know you won’t get anywhere close to that in a savings account in the U.K. any time soon but it makes the sums easy and illustrates the point). At the end of the year, you’ve paid the watch off and you’ve made £500 in interest which you’ve effectively got as a discount off the cost of the watch compared to if you’d just bought it outright.

So there are legitimate reasons for using 0% finance even if you can afford the product.

[crazymcmichael]

Originally Posted by Zakalwe

I’m probably not directly addressing your specific point and I certainly don’t advocate people buying watches that they can just barely afford to. But leaving that group of people aside...

If you can afford to buy a watch in cash outright, but interest free finance is offered, you’d actually be financially incontinent not to take it. The reason being you can make the lump sum cash you save by taking the loan work for you to earn money. So let’s say you want to buy a £10k watch and you have the cash going spare. You take out an interest free loan for a year to pay it off in monthly instalments. You put the £10k in a savings bond that pays 5% interest (yes, I know you won’t get anywhere close to that in a savings account in the U.K. any time soon but it makes the sums easy and illustrates the point). At the end of the year, you’ve paid the watch off and you’ve made £500 in interest which you’ve effectively got as a discount off the cost of the watch compared to if you’d just bought it outright.

So there are legitimate reasons for using 0% finance even if you can afford the product.

Lol in my country we get 0% now on savings no joking

[jasonsensation]

For the record i could afford to take a GMT on Finance :)

However, it just means working weekends as a bouncer opposite my normal 9/5 to earn the money. i also absolutely despise being a bouncer. but for the chance to afford a rolex? we all make sacrifices right? Tell me i'm right

[crazymcmichael]

Originally Posted by jasonsensation

For the record i could afford to take a GMT on Finance :)

However, it just means working weekends as a bouncer opposite my normal 9/5 to earn the money. i also absolutely despise being a bouncer. but for the chance to afford a rolex? we all make sacrifices right? Tell me i'm right

But honestly, if you drink a lot of perhaps great time to quit now and buy the batman instead same counts for alcohol or other bad behaviour ;))))

[jps3b]

. I get you bro. It sounds like you really want the BLNR. I would wait and get that one buddy. Like I said, no regrets, don’t settle. Life is short. Live for the now

[dot42]

if you want the batman, don't settle for the all black.

[crazymcmichael]

But serious question guys, are there more of you buying it on finance ? And if so, why?? I mean, do you have serious more money on the wrist than in the bank account than?
Not to flame, but just wondering................. sorry

[jasonsensation]

All i do is work and sleep. I did bouncing on the weekends to refurbishment and renovate the house i bought. I havent done any bouncing for a few months and i hated every minute of it lol. I probably will return to it just to be able to get the BLNR!

[crazymcmichael]

Originally Posted by jasonsensation

All i do is work and sleep. I did bouncing on the weekends to refurbishment and renovate the house i bought. I havent done any bouncing for a few months and i hated every minute of it lol. I probably will return to it just to be able to get the BLNR!

I havent ever ''worked'' so i do not know about that but it was just wondering... Anyway bro, i think Rolex is quite cheap now in the UK- so perhaps it is best to buy asap.

[jasonsensation]

Oh i was simply kidding. Apologies if it was taken the wrong way, as childish as it was lol