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doubleinfive · 25 January 2014, 02:33 AM

...anybody here done it?

Sounds like a good deal to me...lock in the price, pay according to a pre-determined schedule and if you change your mind, you get the money you've paid applied to another watch...

kilyung · 25 January 2014, 02:50 AM

Get it all in writing.

Keith1 · 25 January 2014, 02:54 AM

If you were to go that route, why not look into interest free financing? Even though I have been offered it, never looked into it. You might want to check this out. Wear the watch now instead of when it's paid through layaway.

One Ping Only · 25 January 2014, 03:00 AM

I have done a deposit and picked up at a later date when cash flow allowed, but never made a series of payments. Just be sure you would get entire credit towards another or a refund with no "restocking fee".

Lgear080 · 25 January 2014, 03:14 AM

Can't afford it... Don't buy it.

Especially when it comes to watches.

These small things should not be financed in any way, shape or form.
I know there may be no interest applied, but it's still a bad idea.

Floorguy · 25 January 2014, 03:24 AM

X2

beshannon · 25 January 2014, 04:33 AM

I would never do that, sorry

southtexas · 25 January 2014, 04:38 AM

I've paid in full; and I've done interest free--why let your money out of your hands earlier than you have to?

Vivalas · 25 January 2014, 04:53 AM

If you can afford it and you're sensible interest free is a way to go, as you're keeping your money elsewhere and getting interest presumably. Having said that, an AD says it costs them around 8% to do interest free (guess it depends on amount and term), so you could always try and ask for that in discount

If I had lay away or interest free though, I'd choose interest free every time - as long as I was sure of affordability of course

slomo · 25 January 2014, 04:56 AM

If you have the money outright to pay for the watch why not take advantage of interest free, as long as there's no catch....

superdog · 25 January 2014, 04:57 AM

Quote:

Originally Posted by Lgear080

Can't afford it... Don't buy it.

Especially when it comes to watches.

These small things should not be financed in any way, shape or form.
I know there may be no interest applied, but it's still a bad idea.

I Agree as much as anyone can agree with anything.

superdog · 25 January 2014, 05:00 AM

Quote:

Originally Posted by southtexas

I've paid in full; and I've done interest free--why let your money out of your hands earlier than you have to?

In theory this makes a ton of sense.

In a practical application, it's natural that this theory is how people over extend themselves and dig themselves a whole.

With enough discipline, I agree that it works. The vast majority of people simply can't do it.

Keith1 · 25 January 2014, 05:01 AM

Quote:

Originally Posted by Lgear080

Can't afford it... Don't buy it.

Especially when it comes to watches.

These small things should not be financed in any way, shape or form.
I know there may be no interest applied, but it's still a bad idea.

I also agree 100%

southtexas · 25 January 2014, 05:03 AM

Quote:

Originally Posted by superdog

In theory this makes a ton of sense.

In a practical application, it's natural that this theory is how people over extend themselves and dig themselves a whole.

With enough discipline, I agree that it works. The vast majority of people simply can't do it.

Agreed 100%

alubin · 25 January 2014, 05:16 AM

With luxury items, I have always felt that one was better off paying up front with discretionary income than to start essentially investing money in a watch with no interest. The only plus to this is locking in the price before any increase but it would seem as if 0% financing might be a better approach as it removes the time value of money consequences of this type of layaway.

timely · 25 January 2014, 05:37 AM

Luxury Watches, Sport Cars and Motor Cycles are toys. I do not finance or charge, If I don't have enough money I do not buy. But that is just me.

25 January 2014, 02:33 AM	#1
doubleinfive "TRF" Member Join Date: Aug 2012 Location: CA Posts: 655	Acquiring a pre-owned watch via layaway... ...anybody here done it? Sounds like a good deal to me...lock in the price, pay according to a pre-determined schedule and if you change your mind, you get the money you've paid applied to another watch...

25 January 2014, 03:00 AM	#4
One Ping Only "TRF" Member Join Date: Oct 2012 Real Name: Ken Location: WI Watch: several Posts: 1,639	I have done a deposit and picked up at a later date when cash flow allowed, but never made a series of payments. Just be sure you would get entire credit towards another or a refund with no "restocking fee". __________________ I have far too many expensive hobbies to even consider another one.

25 January 2014, 03:24 AM	#6
Floorguy 2024 SubLV41 Pledge Member Join Date: Feb 2013 Real Name: Rob Location: Parrish fl. Watch: Tt datejust 16233 Posts: 20,952	X2 __________________ Rolex Omega Tag Heuer

25 January 2014, 04:33 AM	#7
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,892	I would never do that, sorry __________________ IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock

25 January 2014, 04:38 AM	#8
southtexas 2024 ROLEX SUBMARINER 41 Pledge Member Join Date: May 2011 Location: Great State of TX Posts: 5,763	I've paid in full; and I've done interest free--why let your money out of your hands earlier than you have to? __________________ Forty six & 2 are just ahead of me. Follow me on Instagram @ccrolex

25 January 2014, 02:50 AM	#2
kilyung 2024 SubLV41 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,940	Get it all in writing.

25 January 2014, 02:54 AM	#3
Keith1 "TRF" Member Join Date: Jun 2013 Location: San Diego Watch: Sub-C blue, DSSD Posts: 2,482	If you were to go that route, why not look into interest free financing? Even though I have been offered it, never looked into it. You might want to check this out. Wear the watch now instead of when it's paid through layaway.

25 January 2014, 03:14 AM	#5
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	Can't afford it... Don't buy it. Especially when it comes to watches. These small things should not be financed in any way, shape or form. I know there may be no interest applied, but it's still a bad idea.

25 January 2014, 04:53 AM	#9
Vivalas "TRF" Member Join Date: Jun 2013 Real Name: Stephen Location: UK Watch: AP Posts: 2,646	If you can afford it and you're sensible interest free is a way to go, as you're keeping your money elsewhere and getting interest presumably. Having said that, an AD says it costs them around 8% to do interest free (guess it depends on amount and term), so you could always try and ask for that in discount If I had lay away or interest free though, I'd choose interest free every time - as long as I was sure of affordability of course

25 January 2014, 04:56 AM	#10
slomo "TRF" Member Join Date: Nov 2013 Real Name: Andy Location: Pasadena, CA Watch: 14060M Posts: 212	If you have the money outright to pay for the watch why not take advantage of interest free, as long as there's no catch....

25 January 2014, 05:16 AM	#15
alubin "TRF" Member Join Date: May 2012 Location: USA Watch: All please! Posts: 1,042	With luxury items, I have always felt that one was better off paying up front with discretionary income than to start essentially investing money in a watch with no interest. The only plus to this is locking in the price before any increase but it would seem as if 0% financing might be a better approach as it removes the time value of money consequences of this type of layaway.

25 January 2014, 05:37 AM	#16
timely Member Join Date: Aug 2012 Real Name: Bob Location: NE PA Watch: 3131 bubble back Posts: 641	Luxury Watches, Sport Cars and Motor Cycles are toys. I do not finance or charge, If I don't have enough money I do not buy. But that is just me.

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