Rolex 0%?

[barrieeld]

Ok folks wondering if someone can help or if they have experienced differently...

I am looking to buy a Daytona ss white face (been on the waiting list for 1.5 years )

speaking with the Aurum Group in particular Maplin & Webb they tell me that Daytona's can only be bought outright?? I thought finance does this (with the finance company taking on the burden of debt?) and submariners don't qualify for 0% either?

now i don't want to get into the debate of financing watches vs paying outrght i am just curious if someone else has managed to 0% a daytona through the Aurum group portfolio?

thanks in advance

[RolexAuthority]

Aurum group supply Rolex to ADs - Mappin and Webb do offer 0% finance over 2years I'm surprised why they say not on SS Daytona - anyway get the watch however you can here's a few pics to help

[R G]

I bought my Submariner from a Mappin & Webb in 2013 with 0% for 24 months.

That sounds like a completely bogus tactic by the AD. Think about it, finance isn't with the AD, it's with the partner finance company that they work with. The finance partner pays the AD immediately in full and they take on the debt instead, so it makes no difference in regards to specific model.

Oh, and by the way... To any of the negative comments that I've seen in regards to financing a watch; here in the UK you don't get discount on good-selling SS models but 0% is widely offered. I paid a deposit and then took the finance option on the remainder of balance. The finance company debited a fixed amount every month. I never defaulted. I never incurred interest. There was no catch. I paid no more than I would have done if I had bought and paid upfront in full.

[barrieeld]

i was also puzzled by this...on their website they offer 36mths but when i talked to them about rolex they said the following:

"Rolex Daytona is not available on IFC and the Submariner is available on Interest Bearing Credit Option only" ??

[barrieeld]

Originally Posted by R G

I bought my Submariner from a Mappin & Webb in 2013 with 0% for 24 months.

That sounds like a completely bogus tactic by the AD. Think about it, finance isn't with the AD, it's with the partner finance company that they work with. The finance partner pays the AD immediately in full and they take on the debt instead, so it makes no difference in regards to specific model.

Oh, and by the way... To any of the negative comments that I've seen in regards to financing a watch; here in the UK you don't get discount on good-selling SS models but 0% is widely offered. I paid a deposit and then took the finance option on the remainder of balance. The finance company debited a fixed amount every month. I never defaulted. I never incurred interest. There was no catch. I paid no more than I would have done if I had bought and paid upfront in full.

this makes complete sense...should i challenge this? If so how would i go about this?

[R G]

Originally Posted by barrieeld

this makes complete sense...should i challenge this? If so how would i go about this?

Aurum offer 36 months on watches, but only 24 months on the Rolex range. Did you speak with Aurum, or a Mappin and Webb store?

[barrieeld]

it was the specific maplin and web store i spoke with...i actually called regent street also just to confirm this and they seemed to think the same notice the term "think" know one new for certain

[R G]

Originally Posted by barrieeld

it was the specific maplin and web store i spoke with

Move on.

Go elsewhere, even to another store of theirs where you won't be held to ransom.

If you want to escalate this because of the fact that you are a legitimate customer that has waited for 18 months, then report the tactics to Aurum. Something tells me you'll get a more favourable response from the group head office.

[Rajk76]

Do you have a Rolex AD who is close to you such as Goldsmith's or Watches of Switzerland who you can check with as I believe they're also part of the same group.

[barrieeld]

yeh i was on the list for a ss white face daytona and they called me to say it came in but i could only pay for it via cash/creditcard/bank transfer.

When i questioned this and referred to their 0% on their website they said that the Daytona was excluded from this and Rolex in general was excluded Subs has to go through traditional finance??

Was puzzled by this and wanted the watch and assumed i could take advantage of their 0%...

[barrieeld]

Originally Posted by Rajk76

Do you have a Rolex AD who is close to you such as Goldsmith's or Watches of Switzerland who you can check with as I believe they're also part of the same group.

no there the closest...i could phone round but was going to perhaps write them an email to get further clarification?

[1210tech]

I think a lot of stores offer the 0% interest deals as a selling tool but the ones I spoke to including Crouch, Mappin & Webb & Goldsmiths when I was ready to buy my GMT2c told me that they don't offer the deal on Rolex sports watches because they don't need to as they are such popular models

[R G]

Originally Posted by barrieeld

yeh i was on the list for a ss white face daytona and they called me to say it came in but i could only pay for it via cash/creditcard/bank transfer.

When i questioned this and referred to their 0% on their website they said that the Daytona was excluded from this and Rolex in general was excluded Subs has to go through traditional finance??

Was puzzled by this and wanted the watch and assumed i could take advantage of their 0%...

Go to Aurum directly. Tell them the situation and complain about the lack of consistency, because this isn't typical across all of thier groups stores.

Look, worse case scenario, a very well known credit card is offering a very long term on purchases made with the card for new customers.

Just to clarify, I'm not by any means encouraging you take make that decision - you should decide, but providing you have a good credit score, you should get a decent credit limit given once approved.

Alternatively, and if you want help, I happen to of made a very good friend of the sales person at a store of Aurums after my wife bought me my DJ2 as a wedding gift in the summer this year. She paid for it in full on her gift to me, but I'm sure he'll sort for you.

Let me know.

[barrieeld]

Originally Posted by 1210tech

I think a lot of stores offer the 0% interest deals as a selling tool but the ones I spoke to including Crouch, Mappin & Webb & Goldsmiths when I was ready to buy my GMT2c told me that they don't offer the deal on Rolex sports watches because they don't need to as they are such popular models

I get that but as the member said above finance doesn't alter the deal in anyway for them (well not that i am aware?) Hitachi Finance would pay them the sum in full and I pay them...now what isn't seen here is do Hitachi finance charge M&W for the privilege and the don't need this to happen for a Daytona?

[OrangeSport]

Three years 0% was available on my Sub, but that was at Ernest Jones which is no longer an AD.

[Orange123]

Just apply for a 0% credit card, I've just purchased my GMT using a tesco card with 24 months 0% that way you can try for a discount on some models and still have 0%...win win.

I got 20% off my GMT it's handy having a mate who owns a jewellers :)

[barrieeld]

if anyone can reference a M&W store that has allowed 0% on a rolex i could present them with this inconsistency?

But I will email Aurum group.

[R G]

Originally Posted by barrieeld

I get that but as the member said above finance doesn't alter the deal in anyway for them (well not that i am aware?) Hitachi Finance would pay them the sum in full and I pay them...now what isn't seen here is do Hitachi finance charge M&W for the privilege and the don't need this to happen for a Daytona?

Used to be Hitachi. Now Barclays Partner Finance.

[Orange123]

To add I understood the AD paid the interest direct to the finance company on your behalf (a fee maybe rather than interest) so can understand if they don't offer 0% on models they don't need to.

I may be wrong but have been told this in the past.

[barrieeld]

Originally Posted by Orange123

To add I understood the AD paid the interest direct to the finance company on your behalf (a fee maybe rather than interest) so can understand if they don't offer 0% on models they don't need to.

I may be wrong but have been told this in the past.

that is understandable but if thats the case why don't they just say 0% on all product EXCLUDING ROLEX. Makes it nice and transparent :)

[R G]

Originally Posted by barrieeld

if anyone can reference a M&W store that has allowed 0% on a rolex i could present them with this inconsistency?

But I will email Aurum group.

I bought my Submariner in the Guildford branch, which I believe is now no longer an AD.

Mappin & Webb in Bluewater in Kent still offers 0% finance as far as I'm aware.

Another AD in Guildford quoted me Daytona acquisition in approx 6 months, if needed.

[barrieeld]

Originally Posted by Orange123

Just apply for a 0% credit card, I've just purchased my GMT using a tesco card with 24 months 0% that way you can try for a discount on some models and still have 0%...win win.

I got 20% off my GMT it's handy having a mate who owns a jewellers :)

20% of a Rolex is incredible!!!! I have a friend who manages procurement for Aurum Group and he gets 5% on Rolex but nothing on the Daytona :)

[R G]

Originally Posted by Orange123

To add I understood the AD paid the interest direct to the finance company on your behalf (a fee maybe rather than interest) so can understand if they don't offer 0% on models they don't need to.

I may be wrong but have been told this in the past.

Finance companies typically pay the merchant and incentive outlets to use thier services. It causes no detrement to the store and in many cases merchants get paid to steer people in to finance. Think about car dealers - they get commissioned to include finance on thier cars they sell.

I would imagine that Rolex no doubt are not keen hence negotiating a maximum of 24 months on thier range rather than the standard 36 months accross all other brands in store.

[Orange123]

Originally Posted by barrieeld

20% of a Rolex is incredible!!!! I have a friend who manages procurement for Aurum Group and he gets 5% on Rolex but nothing on the Daytona :)

I get a standard 20% off, bought my planet ocean chrono from him as well with 20% off.

Have known him for quite some time and went uni with him. If your in the Uk try him. He owns Jopsons Jewellers in Carlisle.

He can pretty much source any piece.

[barrieeld]

Originally Posted by Orange123

I get a standard 20% off, bought my planet ocean chrono from him as well with 20% off.

Have known him for quite some time and went uni with him. If your in the Uk try him. He owns Jopsons Jewellers in Carlisle.

He can pretty much source any piece.

Well i am based in Scotland :)

[Orange123]

Originally Posted by barrieeld

Well i am based in Scotland :)

Get on to him, ask for Stephen and tell him Phil sent you!

[R G]

Originally Posted by Orange123

Get on to him, ask for Stephen and tell him Phil sent you!

Now that is an offer!

OP, I'd get down to Carlisle if I were you.

[J. Alan]

Ah, the 0% finance game. There will be a fee, and usually the retailer takes the hit. These finance companies are in business to make money, so the retailer's electronic invoice is discounted by the finance company for an agreed "transaction" fee. The finance company's job is to forward the discounted funds to the retailer and collect the monies owned by you over the time period of the contract. They do not do this for fun!! This is why there is resistance from the Rolex AD to sell you a Daytona, a highly desired watch, on one of these plans when they can easily sell it for full pop.

I don't know if this would work for you if you have an exceptional credit score, but I usually buy my watches with cash or Visa (depending on the best discount offered) and then I look for financing for 0 or .099% with the longest term available. I have two Visa card companies I do this with. You have to be sure you are able to pay them out in full before the due date or they use a mafia interest rate on you. I juggle the two Visa cards against each other, borrowing money at the cheapest rate to pay off the other. Over the last 8 years I have been doing this, I have purchased approximately 10 watches and paid little (.099%) or no (0%) interest rate on my purchase. Just make sure the card you use for an interest deal is taken out of circulation until you pay out the balance. Because money is so cheap, offers come constantly in my mail, so I always pick the best deal. Some of the offers are now coming with an upfront one time transaction fee of 1%, but it is still cheap money. A WARNING - keep your payments on time and DON'T default or your freeloading days will soon be over - YOU MUST BE DISCIPLINED

J. Alan

[Fleetlord]

C'mon guys...there is a buydown fee for the dealer to offer 0% financing. It can be >10% of the transaction.

That's why they don't offer those plans on SS Daytona or Subs. They don't need to sell those watches at ANY discount...whether it be a HARD CASH discount, or incorporating the cost of the buydown into the transaction.

[R G]

Originally Posted by Fleetlord

C'mon guys...there is a buydown fee for the dealer to offer 0% financing. It can be >10% of the transaction.



That's why they don't offer those plans on SS Daytona or Subs. They don't need to sell those watches at ANY discount...whether it be a HARD CASH discount, or incorporating the cost of the buydown into the transaction.

Ok, if you know that then that's fine.

I don't think that this Sub/Daytona stipulation is uniformed throughout every single UK AD though currently.




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