Finance or Outright ?

[TAKUYA]

i think there're personal choices. But as a business owner, i'd like save cash to do something else to make money and since there're 0% finance for a couple years as well. after you have the profits, you can pay it off in no time. make sure that i'm not talking about the short term investment to make the profits to pay/buy the watch tho (in these days, nothing can make money quickly unless you got a luck)

P.s but if my local ADs can give me discounts if i pay by cash, i'd love to do that to save my money first. or if i can save thousands from the trusted sellers here, i'd love to pay by cash as well.

[swiss ghost]

remember people. ' financing' anything other than a NECESSITY is a BAD thing

i mean seriously. this is a day an age where a legit millionaire has less than warehouse worker across town thanks to FINANCING

oh and lets not forget the USA where a few, ok...alot owned houses they COULD NOT afford. the people that could afford 300000 homes wanted 600000 homes.

welcome to the world of financing.

like it or not. if you cant pay for it. you cant afford it. period.

you want it? work and save for it

[koshiru]

Definitely save and pay cash for it. The experience is better than financing it through credit cards. However, if you really need to finance it, use a shorter term to pay it off. The max I would go for financing with 0% interest free is 6 months. Therefore you need to have at least the amount to go for the 6 months financing.

[zwatch]

Depends on the finance offer. If it is 0% i usually finance other wise buy outright.

[Reu]

Originally Posted by swiss ghost

remember people. ' financing' anything other than a NECESSITY is a BAD thing

i mean seriously. this is a day an age where a legit millionaire has less than warehouse worker across town thanks to FINANCING

oh and lets not forget the USA where a few, ok...alot owned houses they COULD NOT afford. the people that could afford 300000 homes wanted 600000 homes.

welcome to the world of financing.

like it or not. if you cant pay for it. you cant afford it. period.

you want it? work and save for it

Just a question as I'm not sure I have it right...

So basically you're saying if you haven't got the money to buy a house outright then you shouldn't purchase?!

So what happens to those who CAN afford it yet still feel they may as well make use of interest free options?

[swiss ghost]

Originally Posted by Reu

Just a question as I'm not sure I have it right...

So basically you're saying if you haven't got the money to buy a house outright then you shouldn't purchase?!

So what happens to those who CAN afford it yet still feel they may as well make use of interest free options?

no. im saying if you can afford a 300 000 house dont buy a 600 000 house. A MAXED out mortgage doesent mean you can afford it

anyone can finance anything and truly believe they can afford it. they cant. to correlate a watch purchase with a house purchase is just plain dumb. period.

[c.rod]

i think some of the thoughts are a house/place to live is needed. same with a vehicle in most places. where a watch, especially a rolex is a luxury item. i.e. not needed for survival.(most people that is, i believe their are some wis on here that might actually die without one...lol)

[Reu]

Originally Posted by c.rod

i think some of the thoughts are a house/place to live is needed. same with a vehicle in most places. where a watch, especially a rolex is a luxury item. i.e. not needed for survival.(most people that is, i believe their are some wis on here that might actually die without one...lol)

Yes I agree with you.

However for anyone against financing luxury items why finance BMW/Audi/Lexus, when you could probably afford a more inexpensive car and pay in full. After all it still gets you from from a to b! Same sort of thing for a house too...

I think it's each to their own and I wouldn't discourage either way. As long as you can afford it whether you pay up front or over a period of time, you're good to go.

[JP Chestnut]

Originally Posted by Reu

Yes I agree with you.

However for anyone against financing luxury items why finance BMW/Audi/Lexus, when you could probably afford a more inexpensive car and pay in full. After all it still gets you from from a to b! Same sort of thing for a house too...

I think it's each to their own and I wouldn't discourage either way. As long as you can afford it whether you pay up front or over a period of time, you're good to go.

That's actually exactly what I did. Not having a car payment is very nice.

There are a couple arguments that I think make sense regarding financing a watch

1. I would rather invest my money over the loan term
2. If I had to save up I would get hit with one or two additional price increases

Even with those in mind, I would never allow myself to buy something so unnecessary on credit. I suppose that the first is the more persuasive to my mind, but with the way my 401K is doing I'd rather just get the up front discount on the watch...

[swiss ghost]

Originally Posted by Reu

Yes I agree with you.

However for anyone against financing luxury items why finance BMW/Audi/Lexus, when you could probably afford a more inexpensive car and pay in full. After all it still gets you from from a to b! Same sort of thing for a house too...

I think it's each to their own and I wouldn't discourage either way. As long as you can afford it whether you pay up front or over a period of time, you're good to go.

they will give financing to anyone who breathes. MANY finance the beamer, audi, lexus and simply cannot afford it.

its a disease called ' keeping up with the jones's"

[Gary Busey]

Again, anybody on this forum who is leasing a luxury car(and not being able to deduct it as an expense) has no say in this convo.

Also, even if you do have cash to pay for an audi or bmw, you cant really tell anyone not to finance a rolex. The second you drive that audi or bmw out of the lot, you just lost the equivalent of a sub.
There is something to be said about depreciating assets. Whats a 1998 bmw 328 worth? Lool
As far as im concerned, every purchase is a trade. And no matter what, a rolex is a good trade

[alanc]

Originally Posted by Gary Busey

Again, anybody on this forum who is leasing a luxury car(and not being able to deduct it as an expense) has no say in this convo.

Also, even if you do have cash to pay for an audi or bmw, you cant really tell anyone not to finance a rolex. The second you drive that audi or bmw out of the lot, you just lost the equivalent of a sub.
There is something to be said about depreciating assets. Whats a 1998 bmw 328 worth? Lool
As far as im concerned, every purchase is a trade. And no matter what, a rolex is a good trade

My view is - if you have to finance the BMW (or other luxury make), you're buying too much car. Buy the Toyota (or a used BMW for the same amount if you must have a Bimmer) for cash.

Too many people finance purchases for stuff they don't need to impress people they don't even know. Yes, I know, nobody needs a Rolex while G-Shocks exist, but life is about pleasure and satisfaction of ownership. as well as necessity. The key, though, is buy only those luxuries you can pay cash for. A five-year old Rolex in like-new condition from a trusted seller here, is just as satisfying as a new one; more so, in fact, because you can add the pleasure of how savvy you were in saving a bunch of money.

[outtatime]

Originally Posted by alanc

My view is - if you have to finance the BMW (or other luxury make), you're buying too much car. Buy the Toyota (or a used BMW for the same amount if you must have a Bimmer) for cash.

Too many people finance purchases for stuff they don't need to impress people they don't even know. Yes, I know, nobody needs a Rolex while G-Shocks exist, but life is about pleasure and satisfaction of ownership. as well as necessity. The key, though, is buy only those luxuries you can pay cash for. A five-year old Rolex in like-new condition from a trusted seller here, is just as satisfying as a new one; more so, in fact, because you can add the pleasure of how savvy you were in saving a bunch of money.

So the only people who should be allowed to buy a car are those who can pay cash?

How many people who buy a $20,000 Toyota have $20k in cash to spend on it?

Goodbye auto industry...

[F&Iguy]

Originally Posted by outtatime

So the only people who should be allowed to buy a car are those who can pay cash?

How many people who buy a $20,000 Toyota have $20k in cash to spend on it?

Goodbye auto industry...

I hope its not the end!
35% pay cash/check for a car and its about $30,000 OTD


pay cash for the watch

Work your money the best you can

[Reu]

Originally Posted by swiss ghost

no. im saying if you can afford a 300 000 house dont buy a 600 000 house. A MAXED out mortgage doesent mean you can afford it

anyone can finance anything and truly believe they can afford it. they cant. to correlate a watch purchase with a house purchase is just plain dumb. period.

Correlate?! Do you mean compare??

I wasn't comparing (and certainly not correlating) buying a house is nothing like buying a watch - the needs are two different things. I was making reference to the finance aspect, which is what this thread was about.

It sounds like you have some issues buddy, although pat on the back for being able to pay up front on the car. You are an inspiration haha

Ta ta

[swiss ghost]

Originally Posted by Reu

Correlate?! Do you mean compare??

I wasn't comparing (and certainly not correlating) buying a house is nothing like buying a watch - the needs are two different things. I was making reference to the finance aspect, which is what this thread was about.

It sounds like you have some issues buddy, although pat on the back for being able to pay up front on the car. You are an inspiration haha

Ta ta

what are my issues?

[Nav01L]

The way things are going in this day and age, you'll never really know how you're gonna be doing tomorrow... And if, like so many people these days I found myself locked out of my office with a generic letter telling me my showing up there was no longer needed... Well, the last thing I'd want would be invoices from a jeweler's or the BMW leasing service...

Lets face it, over the course of a financing period, even Rolexes don't really keep their value that well... Just like cars... They are hence utterly useless to secure a debt.

Realty is the only "collateral" actually worthy of this name. And as we have seen in the states a few years ago... Even that can potentially slam one down the drain.

It is then, not a matter of should you or should you not finance... But rather a matter of how easily you get out of the engagement if it all goes bad...

For this reason, all my watches are paid for... as is my BMW.

The only monthly payments I make are rent, health insurance, telephone and taxes.

That way... If that troublesome day that so many have met in recent years ever came in my life... I could start at zero, rather than at minus "fill in any number you can come up with here". And I like that feeling.

[swiss ghost]

Originally Posted by Nav01L

The way things are going in this day and age, you'll never really know how you're gonna be doing tomorrow... And if, like so many people these days I found myself locked out of my office with a generic letter telling me my showing up there was no longer needed... Well, the last thing I'd want would be invoices from a jeweler's or the BMW leasing service...

Lets face it, over the course of a financing period, even Rolexes don't really keep their value that well... Just like cars... They are hence utterly useless to secure a debt.

Realty is the only "collateral" actually worthy of this name. And as we have seen in the states a few years ago... Even that can potentially slam one down the drain.

It is then, not a matter of should you or should you not finance... But rather a matter of how easily you get out of the engagement if it all goes bad...

For this reason, all my watches are paid for... as is my BMW.

The only monthly payments I make are rent, health insurance, telephone and taxes.

That way... If that troublesome day that so many have met in recent years ever came in my life... I could start at zero, rather than at minus "fill in any number you can come up with here". And I like that feeling.

x 2

well said

[superdog]

Originally Posted by Nav01L

The way things are going in this day and age, you'll never really know how you're gonna be doing tomorrow... And if, like so many people these days I found myself locked out of my office with a generic letter telling me my showing up there was no longer needed... Well, the last thing I'd want would be invoices from a jeweler's or the BMW leasing service...

Lets face it, over the course of a financing period, even Rolexes don't really keep their value that well... Just like cars... They are hence utterly useless to secure a debt.

Realty is the only "collateral" actually worthy of this name. And as we have seen in the states a few years ago... Even that can potentially slam one down the drain.

It is then, not a matter of should you or should you not finance... But rather a matter of how easily you get out of the engagement if it all goes bad...

For this reason, all my watches are paid for... as is my BMW.

The only monthly payments I make are rent, health insurance, telephone and taxes.

That way... If that troublesome day that so many have met in recent years ever came in my life... I could start at zero, rather than at minus "fill in any number you can come up with here". And I like that feeling.

Agree fully and well said. I'm always looking towards tomorrow and simply don't want to be saddled with UNNECESSARY expenses if shit ever does hit the fan.

I have zero debt besides my home and an investment property.

That said: you will have people on here that have financed even though they can't truly afford it. They will defend their actions no matter what because they don't want to be wrong.

In my opinion, financing anything that is luxury is asking for trouble. Maybe not today, but for tomorrow. It's just not worth the potential risk to me.

[polarinda]

Originally Posted by Nav01L

The way things are going in this day and age, you'll never really know how you're gonna be doing tomorrow... And if, like so many people these days I found myself locked out of my office with a generic letter telling me my showing up there was no longer needed... Well, the last thing I'd want would be invoices from a jeweler's or the BMW leasing service...

Lets face it, over the course of a financing period, even Rolexes don't really keep their value that well... Just like cars... They are hence utterly useless to secure a debt.

Realty is the only "collateral" actually worthy of this name. And as we have seen in the states a few years ago... Even that can potentially slam one down the drain.

It is then, not a matter of should you or should you not finance... But rather a matter of how easily you get out of the engagement if it all goes bad...

For this reason, all my watches are paid for... as is my BMW.

The only monthly payments I make are rent, health insurance, telephone and taxes.

That way... If that troublesome day that so many have met in recent years ever came in my life... I could start at zero, rather than at minus "fill in any number you can come up with here". And I like that feeling.

True. But the cash you used to purchase the watches and bmw could start you at above zero rather than at zero if you'd saved the cash instead.
Cash spent is money not saved. Paying it outright means nothing.
When u want/need the sub, you still pay $x whether you finance it or pay outright. The difference is only interests.
Maybe the only people suitable to buy a luxury item are people with a few million excess lying around doing nothing.

[Foxer55]

I am buying my Rolexes with FREE financing from the AD. Don't mind a bit. Did the same thing with my Corvette, I was going to put a chunk down and finance it until I knew it was free money so I financed the whole thing for 5 years. With the Rolexes its good if they give you a year or two because then you can just use some loose money to pay for it every month and the payments won't be high but it has to be NO finance charge to do that.

[AK797]

I was raised to never borrow and always save and pay cash, also that way stops impulse buys so by the time you have the cash if you still want to buy you know you really want the watch. Of the five watches Ive bought in the last few years, havent felt like selling any yet.

[steveclocks]

Originally Posted by aksingh

I was raised to never borrow and always save and pay cash, also that way stops impulse buys so by the time you have the cash if you still want to buy you know you really want the watch. Of the five watches Ive bought in the last few years, havent felt like selling any yet.

Exactly my thing too man! I don't regrett a single watch I bought over the years. And when I don't have the money, I'll just don't buy.

[Reu]

Originally Posted by superdog

Agree fully and well said. I'm always looking towards tomorrow and simply don't want to be saddled with UNNECESSARY expenses if shit ever does hit the fan.

I have zero debt besides my home and an investment property.

That said: you will have people on here that have financed even though they can't truly afford it. They will defend their actions no matter what because they don't want to be wrong.

In my opinion, financing anything that is luxury is asking for trouble. Maybe not today, but for tomorrow. It's just not worth the potential risk to me.

I think if someone chooses to finance something because they can't afford it that's one thing. I think however there are many people (perhaps not on this forum) who can afford it in terms of having the means to pay in full, yet will still choose 0% finance if offered.

In this instance it's only the value of a watch although I have to say I'd be inclined to do it on whatever given interest free.

I think perhaps its different in the US as it is here in the UK, maybe.

Not referring to your post, but generically I feel many people here feel they are taking some sort of moral high ground by saying how the only way to go is cash.

That's just my opinion though.

[superdog]

Originally Posted by Reu

I think if someone chooses to finance something because they can't afford it that's one thing. I think however there are many people (perhaps not on this forum) who can afford it in terms of having the means to pay in full, yet will still choose 0% finance if offered.

In this instance it's only the value of a watch although I have to say I'd be inclined to do it on whatever given interest free.

I think perhaps its different in the US as it is here in the UK, maybe.

Not referring to your post, but generically I feel many people here feel they are taking some sort of moral high ground by saying how the only way to go is cash.

That's just my opinion though.

Nicely said, and I think you probably have a valid point.

Probably a lot of moral high ground all over this forum. BUT, there are a lot of successful people on here and I think that sometimes the "moral high ground" is a product of making correct decisions and doing well.

But I do understand what you are saying and appreciate where you are coming from.

[Reu]

Originally Posted by superdog

Nicely said, and I think you probably have a valid point.

Probably a lot of moral high ground all over this forum. BUT, there are a lot of successful people on here and I think that sometimes the "moral high ground" is a product of making correct decisions and doing well.

But I do understand what you are saying and appreciate where you are coming from.

[polarinda]

If financing a luxury watch is risking, then why buy multiple luxury watches even with cash when you could have used the cash to pay off a chunk of the house you are financing. All should stick to one expensive watch and not a dime more.
Just saying.

[polarinda]

Better still, don't buy any watch. All cash should go to the house first until it is fully paid, before any luxury spending.

[financeman]

Originally Posted by polarinda

Better still, don't buy any watch. All cash should go to the house first until it is fully paid, before any luxury spending.

We have heard one extreme from some and another extreme for you. I agree with you though, if financing is so bad, a $30 watch from Walmart would be just fine. I see no problem with financing at 0% as long as the person has the ability to pay for it. If something happens, they can always sell it and pay off the loan.
Just my opinion

[Nav01L]

Originally Posted by polarinda

Better still, don't buy any watch. All cash should go to the house first until it is fully paid, before any luxury spending.

Even though I fully understand the ironic undertone of your post, I'd have to say that if it came down to choosing an extreme in this debate... That would probably be the one you'd have to go for.

Since we're all just human though... A reasonable middle ground might just prove to be more satisfactory. In terms of where that lies... We all have different opinions, as this thread illustrates rather well.