No Interest for 30 Months

[tyler1980]

Originally Posted by TheVTCGuy

Is it in Melbourne? Do they have a psyc ward?

I'll be there in a couple weeks and might check myself in

[crew]

Originally Posted by TheVTCGuy

Is it in Melbourne? Do they have a psyc ward?

I'll be there in a couple weeks and might check myself in

May I assume you will be the gentleman with a full collection of Tumi luggage??

[Andad]

Originally Posted by tyler1980

Google - most expensive hospital in the world..

Or

https://www.ibuynew.com.au/news/indu...xpensive-build

[tyler1980]

Originally Posted by directioneng

Google - most expensive hospital in the world..

Or

https://www.ibuynew.com.au/news/indu...xpensive-build

australia is home to many expensive things. I'm pretty sure Gorgon LNG facility is the most expensive thing ever made by humans on earth. The space station costs more though, but not much considering it had to be built in space.

That hospital is crazy though. Perfect for Paul.

[TheVTCGuy]

Originally Posted by crew

May I assume you will be the gentleman with a full collection of Tumi luggage??

Originally Posted by tyler1980

australia is home to many expensive things. I'm pretty sure Gorgon LNG facility is the most expensive thing ever made by humans on earth. The space station costs more though, but not much considering it had to be built in space.

That hospital is crazy though. Perfect for Paul.

Thanks Tyler

[Lawman77]

Originally Posted by NothingToSeeHere

It would blow your mind if you knew how many Lamborghini owners are complete Poseurs. I'd say damn near 50%. Guys making $150k a year leasing a Huracan. How in the hell they do it, no clue. Don't ask me how I know, but I know people, who know people, that know people, who know someone that knows people.

I know. $150k/year is chump change. I generally see your point, but 150k/year is pretty solid, no? Or not here?

[MaxEight]

Originally Posted by NothingToSeeHere

It would blow your mind if you knew how many Lamborghini owners are complete Poseurs. I'd say damn near 50%. Guys making $150k a year leasing a Huracan. How in the hell they do it, no clue. Don't ask me how I know, but I know people, who know people, that know people, who know someone that knows people.

I suppose one could lease a supercar for $5k a month or so on that salary if they had any left over after taxes for their mortgage or rent...or food...but they're gonna do what they want to do, lol.

Another point I'd like to make is that financing on this level really isn't the end of the world, especially at zero percent. You go to Best Buy and use their credit with no interest for that giant 80-inch 4k television, or head to Macy's and pick up a whole new wardrobe at zero percent with their card. It's no different than financing a fine wristwatch; if anything, a Rolex is a better purchase than either of those.

Now if you're trying to finance a Breguet tourbillion for $200,000 or more, that's a different story.

[Tony64]

Originally Posted by MaxEight

I suppose one could lease a supercar for $5k a month or so on that salary if they had any left over after taxes for their mortgage or rent...or food...but they're gonna do what they want to do, lol.

Another point I'd like to make is that financing on this level really isn't the end of the world, especially at zero percent. You go to Best Buy and use their credit with no interest for that giant 80-inch 4k television, or head to Macy's and pick up a whole new wardrobe at zero percent with their card. It's no different than financing a fine wristwatch; if anything, a Rolex is a better purchase than either of those.

Now if you're trying to finance a Breguet tourbillion for $200,000 or more, that's a different story.

Don't see why that's necessarily true. Same rules of interest free financing apply, whether $20k or $200k, it's all based on your ability to pay back the nut at term to bypass any finance charges. Amount that you borrow just needs to be commensurate with income/reserves. If anything, interest free financing for a larger amount is even more money saved.

[SDRider]

We spent nearly $30,000 on home improvements this year (new entry doors, re-did the staircase in wood with iron railings and two closet makeovers). Didn't finance any of it.

[tyler1980]

Originally Posted by SDRider

We spent nearly $30,000 on home improvements this year (new entry doors, re-did the staircase in wood with iron railings and two closet makeovers). Didn't finance any of it.

did you at least get points and miles for CC spend?

You could have signed up for and met minimum spend amount to get sign up bonuses on Sapphire reserve, Amex Platinum and citi card and received around 250,000 bonus miles plus 30,000 for the spend.... thats about 2 transatlantic first class airline tickets that would run about 30K if you purchased them, and all for free depending on what airline you fly (you would have to pay taxes and fees on BA of about 2.5k total).

Thats a lot of value to leave on the table.

[SDRider]

Originally Posted by tyler1980

did you at least get points and miles for CC spend?

You could have signed up for and put minimum spend to get sign up bonuses on Sapphire reserve, Amex Platinum and citi card and received around 250,000 bonus miles plus 30,000 for the spend.... thats about 2 transatlantic first class airline tickets that would run about 30K if you purchased them, and all for free depending on what airline you fly (you would have to pay taxes and fees on BA of about 2.5k total).

Thats a lot of value to leave on the table.

I was able to get thousands off by paying cash on two of the projects.

[rr-nyc]

Originally Posted by SDRider

We spent nearly $30,000 on home improvements this year (new entry doors, re-did the staircase in wood with iron railings and two closet makeovers). Didn't finance any of it.

Cash isn't always the best option. We had the cash in the bank but when we looked at every option for remodeling, refi was the clear choice.

[CRM114]

Originally Posted by Tony64

What's better than free money?

Free money + beer.

[Tony64]

Originally Posted by CRM114

Free money + beer.

[Old Geezer]

If you utilize these types of financing arrangements so you can keep your money working for you and pay as you go, I don't see anything wrong with them.
If this is the only way for someone to purchase something that they may not really be able to afford, then no way.
Unfortunately jewelers, furniture stores and many other big ticket item sellers use this product to entice those on the edge of affordability to purchase betting they will not default but will exceed the payment terms and then they will nail them with the retroactive interest at sky high rates.

[Old Geezer]

Originally Posted by brandrea

I wonder if they are willing to negotiate on price with a zero % finance option ... My guess is no.

I prefer to pay upfront as opposed to finance, I've always found you get a better deal if you are prepared to pay on the spot. One less hassle for the retailer.

I know from first hand experience that they will negotiate. Depending upon the item, many retailers actually prefer a financing deal because of the rebate they receive from the financial institution.
Several years ago I purchased a used car for about $17K which I was going to pay outright. When I was in the office to complete the paperwork the finance manager said he would take another $750 off if I financed it and I could pay it off immediately and without interest or fees. I guess the profit on the sale for them was pretty thin so they were willing to share some of the financial institution's rebate with me to make a bit more on the deal for themselves.

[socalwatchcollector]

Originally Posted by tyler1980

did you at least get points and miles for CC spend?

You could have signed up for and met minimum spend amount to get sign up bonuses on Sapphire reserve, Amex Platinum and citi card and received around 250,000 bonus miles plus 30,000 for the spend.... thats about 2 transatlantic first class airline tickets that would run about 30K if you purchased them, and all for free depending on what airline you fly (you would have to pay taxes and fees on BA of about 2.5k total).

Thats a lot of value to leave on the table.

+1000

[ronricks]

0% is great but I would only accept such a deal on a watch if they were to give a discount and most will not on the 0% promotions.

[VICI]

The 0% interest the OP is being tempted with incorporates the high retail price he is paying for the watch itself.

To each their own smh!

[function12]

Every time I was offered 0% is was at full MSRP. Note worth it in my opinion. Now if it was discounted and at 0%. I would take it!!
Just make sure you close the account once you have finished paying. Yes you will suffer a credit hit for being a retail card and when you close the account but it should not be that big unless you are trying to buy or refinance a house.

[traf]

Originally Posted by function12

Every time I was offered 0% is was at full MSRP. Note worth it in my opinion. Now if it was discounted and at 0%. I would take it!!
Just make sure you close the account once you have finished paying. Yes you will suffer a credit hit for being a retail card and when you close the account but it should not be that big unless you are trying to buy or refinance a house.

Why close the account? If you don’t use it, it’s just raising your overall credit picture...


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[function12]

Originally Posted by traf

Why close the account? If you don’t use it, it’s just raising your overall credit picture...


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Access to more credit/money can also be a bad thing and often is with store cards.

[traf]

Originally Posted by function12

Access to more credit/money can also be a bad thing and often is with store cards.

Just need to practice a bit of self control...


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[offrdmania]

When I buy a watch. I only buy when the cash is in the bank, but I use my cash back card. I get 3% back on all purchases once the balance is paid off. I buy the watch, wait until the next month for the charge to come due, pay it off, wait for the 3% to hit the account and then ask the credit company to cut a check for the 3%. Ive had the card forever and only use it for big purchases. I dont think there are too many 3% cards out there anymore.

[Dr.Brian]

Originally Posted by Lawman77

Absolutely never finance luxury goods.
Didn't buy my first "high end" watch until I had my student loans, mortgage, and cars paid off. Plus had 18 months of salary banked, plus 401(k) and other options rolling. All at the age of 35.
Debt is the devil.

18 months salary banked away is probably a little excessive for an emergency fund😱

[Patton250]

These threads are always funny because they are always the same. To some people 10k is nothing so the idea of financing a watch (or anything) is ludicrous. To others 10k is everything so no watch if no financing. Of course there are people in between. I’ll tell you this though don’t be so quick to dismiss or criticize financing. If it went away the economy would crash like we’ve never seen before.

[function12]

Originally Posted by traf

Just need to practice a bit of self control...


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I have the self control. The lenders don't like store cards and lots of card that have no balance and open credit.