A question for those who know?

[xhype]

Let's say someone where to buy a rolex submariner and they had to put down $4,500, would there interest rates stay the same?I'm asking because I really don't know, my friend asked me so I'm asking Here cheers.

[travisb]

Depends on if it's a variable or fixed APR.
Store account or personal credit card?
If it's a fixed rate, then it doesn't change.

[xhype]

So what would be better?

[DCheeta]

This question isn't for me.

[thomaspp]

It all depends on what their financing deal is of course

[xhype]

????this is confusing that's why I just save money and buy.

[Jocke]

If you don't have the money don't buy a watch. I will only finance things that I must have and don't can pay for cash like a house or a car.

Other things I will save for.

[Urosfan]

Originally Posted by jocke

if you don't have the money don't buy a watch. I will only finance things that i must have and don't can pay for cash like a house or a car.

Other things i will save for.

x2

[travisb]

Originally Posted by Jocke

If you don't have the money don't buy a watch. I will only finance things that I must have and don't can pay for cash like a house or a car.

Other things I will save for.

I share this exact approach to purchases.
Cash only on watches. Always.

[soho]

Originally Posted by Jocke

If you don't have the money don't buy a watch. I will only finance things that I must have and don't can pay for cash like a house or a car.



Other things I will save for.

Fully agree.


Sent from my iPhone using Tapatalk

[Mr. K]

Originally Posted by Jocke

If you don't have the money don't buy a watch. I will only finance things that I must have and don't can pay for cash like a house or a car.

Other things I will save for.

I have never financed a watch, but would consider it if it was 12 months no interest.

Have cash on hand of course to cover the whole watch, but keep it.

Time value of $ is harder to capitalize on these days but still there.

[davenotize]

it depends... usually credit cards offer 12 months 0% interest. but, also some stores offer you 12-24 months 0% interest. I was offered 24 months 0% at my local AD on purchases at MSRP.

[fishingbear]

Originally Posted by Jocke

If you don't have the money don't buy a watch. I will only finance things that I must have and don't can pay for cash like a house or a car.

Other things I will save for.

This.
As for your question: Your interest rate would depend on the agreed finance option being a fixed interest rate or a floating variable interest rate.
For a watch, my advice is to save up then get it.

[btinl]

Agree with above. If you can't afford to buy the watch, continue to save until you can.

[clb89]

I think you wont expect any discount and pay full MSRP if you set up payment plan.

best is to buy used imo

[Tools]

Originally Posted by xhype

Let's say someone where to buy a rolex submariner and they had to put down $4,500, would there interest rates stay the same?I'm asking because I really don't know, my friend asked me so I'm asking Here cheers.

Interest rate has nothing to do with how much you do, or do not, put down nor is it any different whether you are buying a Rolex, a car or house. You negotiate the interest rate before you make the purchase.

[Speed]

Originally Posted by xhype

Let's say someone where to buy a rolex submariner and they had to put down $4,500, would there interest rates stay the same?I'm asking because I really don't know, my friend asked me so I'm asking Here cheers.

[scranger]

IMHO, seems a bit like inquiring about the price of a Rolls Royce: "If you have to ask...."

[MonBK]

Originally Posted by scranger

IMHO, seems a bit like inquiring about the price of a Rolls Royce: "If you have to ask...."

Really, I've always asked.

[Jocke]

Originally Posted by MonBK

Really, I've always asked.

And it was always way too high.

[MonBK]

Originally Posted by Jocke

And it was always way too high.

Yes but 5 minutes of negotiations always made it right.

[AK797]

Don't ever take out an interest paying loan to buy a watch. If you must, go interest free but saving is the best way and as it takes time and discipline it will also determine if you really want the watch.

[tkerrmd]

Some ADs will give ten months no interest if that would help?

[vman]

Financing an expensive watch is great if you want to add some points to your credit card and then pay it off right away. Otherwise, please stay away.

[77T]

Originally Posted by xhype

Let's say someone where to buy a rolex submariner and they had to put down $4,500, would there interest rates stay the same?I'm asking because I really don't know, my friend asked me so I'm asking Here cheers.

If it is a store's line of credit, the terms will usually have a fixed interest rate.

If a Credit Card is being used for the balance, then the card agreement rules interest rates and many now have variable rates on balances carried while some offer "teaser" low rates for a period and then jack them up.

I agree with others who have said to tell your friend to save up and then buy.

The other option is to look for pre-owned Subs that can be had for nearly that down payment amount.

[Racerdj]

If you need to finance it, I would wait until you can buy it.

[Rolexpharm]

$4500 is a lot to put down for a watch you might as well wait and pay outright and you don't have to worry about extra payments for interest.

[locutus49]

Pay cash for watches, imo. I would save up just a bit more and buy a recent pre-owned Sub. Should be able to snag one for around $5500 USD (others can correct me if I'm wrong).

[peticks]

Be a real friend and ask if he/she can really afford it...

[Danex]

I say pay off the house and cars first... then then pay cash for the Rolex.