Rolex and Consumer Credit.

[RolexPete32]

Cash for me. MY AD offered me a one year interest free payment plan. People must go for that if they offer it. I would say if one needs to fund the watch then use the money for somthing else.

[Joey_V]

Originally Posted by ArthurPE

I think you know what I mean ;)

so your 'dream' of the 'future' is better than anyone elses?
a cute cottage in a trendy part of town and driving a poser-mobile to brunch at the club with chaz and muffy...and that is somehow more 'enlightened' than anyone elses? more 'substantial'? or superficial?
but hey, it's yours, allow others to lead thier lives without your judgement....

what if 'some peoples' are like mine...health & happiness for wife, family and myself, and just to grow old with someone we love...and everything else is moot...

nope, I read you 5 x 5

you: know everything and will share
me: it's none of my damn business if some internet guy buys stuff he can't afford:he didn't ask for, he doesn't want, nor would heed my 'advice', posted for millions to see...I was raised in abject poverty, educated myself, and now make enough to do as I please (within the limits of my frugality, some habits die hard), but guess what, $$$ is menaingless, and they say money is the root of all evil for a reason: people waste their lives pursuing it, what's more 'evil' than that? a wasted life

What's your problem???

He's just expressing his thoughts and opinions and you are taking it way too far. Relax man. Why be so spiteful?

His dream could very well be my dream. Work well (not hard but not lazily), plan for the future (whether it mean saving cash, choosing your partner well, choosing your vices well, etc), and hope for the best.

That's all we can do, hope for the best.

And hope that we get to accomplish some of our dreams in the process.

[dalip]

I tend to agree with Joey.....I think chill pills all round.....
and as I've already said...I do not particularly care about whether someone throws themselves into a bit of credit card debt to buy a watch....(and by debt I mean not being able to pay it off prior to the interest free period) - I will still celebrate them getting the watch on here ...because it's a watch forum ! I was in masses of debt when I came out of undergrad study......(not to mention Post Grad) - and I'd spent LOADS on simple good time stuff...plus beer....ummm...plus partying....ummmm...plus ..whatever..you get my drift...my Dad always told me to be more sensible with my student grant....but hell I had a great time!!!! Not everything we do has to make sense......

[mpkRolex]

My philosophy is I dont take credit/loan for depreciating assets. So except my house I never have any loan including for cars and watches.

So all cash deals for me...always

[sleddog]

Originally Posted by dalip

I tend to agree with Joey.....I think chill pills all round.....
and as I've already said...I do not particularly care about whether someone throws themselves into a bit of credit card debt to buy a watch....(and by debt I mean not being able to pay it off prior to the interest free period) - I will still celebrate them getting the watch on here ...because it's a watch forum ! I was in masses of debt when I came out of undergrad study......(not to mention Post Grad) - and I'd spent LOADS on simple good time stuff...plus beer....ummm...plus partying....ummmm...plus ..whatever..you get my drift...my Dad always told me to be more sensible with my student grant....but hell I had a great time!!!! Not everything we do has to make sense......

Sounds like a party animal!

[dalip]

Originally Posted by sleddog1000

Sounds like a party animal!

indeed Robster
I could recover quicker in those days

[sleddog]

Originally Posted by dalip

indeed Robster
I could recover quicker in those days

Me too.....But the question is,can you back it up the next day??

[dalip]

Originally Posted by sleddog1000

Me too.....But the question is,can you back it up the next day??

we shall see when we finally meet

[sleddog]

Originally Posted by dalip

we shall see when we finally meet

Jan is a long time to wait....Looking forward to it mate!!

[axxeman01]

Cash is king. We've been operating on cash with the exception of the mortgage for about a year. Going into a bit of debt later this month for a car, but it's a used one and well within our budget and will only slow down our savings. Pay off those debts. In the past year I've got new floors, rolex, tires, new roof, knick knacks... all sorts of stuff, with cash.

Believe me brother, I've been there, we were 25k in credit card debt at one time without anything to show for it. We were paying like 4-500 a month... in interest...

[Lion]

Originally Posted by eric89

debt for things such as you are describing like business or mortgages or even cars is not the same thing as buying a luxury watch on a credit card, to me at least. Mortgages, business loans, and car loans are necessities of sorts and lets face it, it is unrealistic for most people to ever have one million dollars in cash, hence the need for a loan. These things are really part of your life and are needed for your future. A rolex, regardless of how much we all love them, is just a watch at the end of the day and will not feed you or keep you warm at night. A business loan is a calculated risk someone wants to take in order to have a future career, a watch purchased on a credit card with no intent to pay it off is just someone living beyond their means or being irresponsible with their money. All of these are just my opinions, and as we all know, opinions are like a**holes, everyone has one and they all stink.

x2

[Lion]

I understand everyone's point of view and I really do not care if someone goes into debt and pays it off. What I do mind is when someone files bankruptcy to get out of personal debt(because they were fiscally irresponsible)and we as consumers end up paying for their free ride!!!

[Joey_V]

Originally Posted by dalip

indeed Robster
I could recover quicker in those days

Dalip.. never knew you were such a party animal!!

[Dr.Brian]

Originally Posted by ArthurPE

I think you know what I mean ;)

so your 'dream' of the 'future' is better than anyone elses?
a cute cottage in a trendy part of town and driving a poser-mobile to brunch at the club with chaz and muffy...and that is somehow more 'enlightened' than anyone elses? more 'substantial'? or superficial?
but hey, it's yours, allow others to lead thier lives without your judgement....

what if 'some peoples' are like mine...health & happiness for wife, family and myself, and just to grow old with someone we love...and everything else is moot...

nope, I read you 5 x 5

you: know everything and will share
me: it's none of my damn business if some internet guy buys stuff he can't afford:he didn't ask for, he doesn't want, nor would heed my 'advice', posted for millions to see...I was raised in abject poverty, educated myself, and now make enough to do as I please (within the limits of my frugality, some habits die hard), but guess what, $$$ is menaingless, and they say money is the root of all evil for a reason: people waste their lives pursuing it, what's more 'evil' than that? a wasted life

Wow, I'm not sure where to go with this, but let's review-
Here's the original question posed:
"Do many people here use consumer credit to fund a Rolex purchase?"
My comments reflected MY feelings on people spending unwisely, when they could be turning their financial lives around. I don't judge them, but I do feel sorry for them. I'm entitled to my opinion. I gave an example from my own life which clearly illustrated what the OP's debt ridden misguided friend was going to lose out on by continuing to carry on in the way that he is now. Their comfortable future. My dreams and my future are mine, not "better" or "worse" than any one else's. They were enabled by my decades of hard work, and wise financial decisions. They have nothing AT ALL to do with you, or your dreams. The dreams of the OP's buddy are just that dreams, unless he makes some serious changes.
I, like you, also worked hard for everything I have, scholarships all the way and military service as well. I have a lot, many have FAR more. I worked and sacrificed for every dollar. I'm not sorry about it and I don't care what you think about how I plan to spend it. I don't know what your problem is, bitter, jealous, angry, argumentative, whatever. I am done with you and your attitude. You openly attack me and my comments as if I was talking about you. What's that all about? If you're happy good for you, REALLY! But if you were, you wouldn't write angry rants, and incorrectly read things into people's internet posts. Why don't you harass the OP for posting such an evil, judgemental post? You may have the last unintelligible rant, I mean word.
P.S. It's not a "poser mobile" when you can walk the walk. The poser is the guy that buys things that he can't afford. Remember, that's what this post was all about.
P.P.S. You're trying to be witty, but you clearly don't understand what you think that you are mocking. Feel free to Google it and enlighten yourself.
See you on the course at Torrey Pines. (it's public )

[GradyPhilpott]

I cut up my credit cards 11 years ago.

I buy what I need when I can pay for it.

When I bought my Explorer, I put the money in a CD as collateral and took out a loan, just for a credit boost.

I did finance my car, but it's mine now.

I live modestly, but I have peace of mind.

[newsman]

Always cash-like for me. But I put it on the Delta AM EX to get the miles...then pay it off when I get the bill! Same thing I do with other expenses.

[bokmeipai]

I pay cash for my watches and luxury items. If you have to finance it then it's living beyond means. Spend wisely, if you don't have the cash then save up for it. My 2 cents.

Originally Posted by patek5107

I was talking with a good friend the other day and he revealed that he owed about $50,000- on credit cards and personal loans.

I was absolutely shocked.

He then told me he was applying for a new credit card to get a new Submariner Date LV.

I told him that was stupid - I told him to repay his loans.

Do many people here use consumer credit to fund a Rolex purchase?

I remember reading a few days ago on here - a guy have bought his watch via American Express. That same person then said he was going to buy another Rolex the same way....

Then we hear that Americans are in debt!

I have seen some stunning collections here! Mine is crappy compared to the serious people here! Unfortunately my education / skills don't allow me to earn more - so I am realistic in what I can afford.

[Joey_V]

Originally Posted by bokmeipai

I pay cash for my watches and luxury items. If you have to finance it then it's living beyond means. Spend wisely, if you don't have the cash then save up for it. My 2 cents.

Exactly, if you have to finance it, you're beyond your means. UNLESS, you're financing it at 0% because you're just borrowing someone else's money, IMO.

[LynchFan]

I did mine with 24 mo no interest, not because I don't have money, but I need to get some credit score boost..... lol

[16610v]

In HONG KONG, AD is NOT allowed to have better discount by paying cash,
so even I have enough cash, I will pay by credit card

[j ingram]

Originally Posted by ArthurPE

now that is smart money management

I agree and have done similar methods with different credit sources to purchase quite a few sportscars, motorcycles and one TT Sub over the years and will do the same at the end of the month on a new TT Daytona from my local AD. It's all about the dream first, then the right financial planning to make credit work for you, not against you. Cash is great, but sometimes good planning can make credit based purchases a bit more advantageous as long as you have the funds and the discipline to pay them off.

[Sparky CRNA]

I have bought a couple of mine on the CC but paid them off quickly in large lump sum payments...I would NEVER make minimum payments on a Rolex! That would be insane! My thought of part of what Rolex stands for in a person that has their financial house in order and has invested well (both in the watch and the market). JMHO.

Sparky

[WatchnRoll]

I pay on my credit card to get the points and I pay the balance in the 30 days.