financing?????

[seanneok11]

any other ad other than ben bridge or tourneau do this?

[diablojota]

i think you'll find that many of the ADs will do financing. Especially the chain store ones. I financed mine through the AD, i believe it was Jareds. It doesn't hurt to ask the AD, they don't typically advertise their financing packages.

[seanneok11]

Hmmm..

[seanneok11]

hmmm.... where is jareds and do they carry panerai and how long are the financing

[jeremyh172]

my local ad does.

[D4UK]

yep the main chain of AD over here in the UK do.. 0% over 1 or 2 years depending on value. (definately worth asking - you don't ask you won't get)

[JJ Irani]

Originally Posted by D4UK

yep the main chain of AD over here in the UK do.. 0% over 1 or 2 years depending on value. (definately worth asking - you don't ask you won't get)

[Manatee]

Originally Posted by seanneok11

any other ad other than ben bridge or tourneau do this?

I would only recommend financing a luxury item if the dealer was giving credit at 0% interest, and if that 0% interest rate did NOT cut into the discount on the item. In other words, only finance a wrist watch if it is truly freeing up your money to make more money elsewhere -- not because you want to buy something that is beyond your means. Don't fall into the trap of "buying" luxuries that you can't really afford. I suspect a lot of guys on these watch forums do just that. Just my recommendation.

[Uncle-AJ]

Originally Posted by Manatee

I would only recommend financing a luxury item if the dealer was giving credit at 0% interest, and if that 0% interest rate did NOT cut into the discount on the item. In other words, only finance a wrist watch if it is truly freeing up your money to make more money elsewhere -- not because you want to buy something that is beyond your means. Don't fall into the trap of "buying" luxuries that you can't really afford. I suspect a lot of guys on these watch forums do just that. Just my recommendation.

I agree entirely. Once you fall into the financing trap, it's very hard to get out. This week we have been watching Oprah Windbag and she was doing a spot on debt. I could not believe the amount of people who were thousands of dollars in debt just because they were trying to live a lifestyle they could not really afford.

[C.J.]

edt

[kingblackbolt]

Originally Posted by Manatee

I would only recommend financing a luxury item if the dealer was giving credit at 0% interest, and if that 0% interest rate did NOT cut into the discount on the item. In other words, only finance a wrist watch if it is truly freeing up your money to make more money elsewhere -- not because you want to buy something that is beyond your means. Don't fall into the trap of "buying" luxuries that you can't really afford. I suspect a lot of guys on these watch forums do just that. Just my recommendation.

Good point indeed Peter... it's way too easy for some people to just get what they want right here and now and pay for it through the teeth rather than have a little patience and get it when they can truly afford it...

[Launch Mini]

Being in my line of work, I see way too many people with rediculous debt loads.
Our property values have been increasing and people keep borrowing against there "false equity" to keep up with the Jones'
I call it false equity, because they cannot simply cash it out & be wealthy. They would need a place to live & would either have to buy another expensive house or move to the middle of no-where in order to end up with cash in there jeans.

[Rockrolex]

Very sage advice, Peter.

So to anyone out there who is thinking about going into hock to buy a Rolex or any other high end watch - DON'T DO IT.. Stick to something within your affordable range.

You are still welcome here. We'd rather have you here and comfortable, than here and worrying about making the next mortgage or rent payment.

[seanneok11]

the only thing is i just bought a sub cash 2 months, and now i wanna buy a pannie but man two watches in 2 months. at least if i get it financed i wouldnt feel like i am throing money away.

[Launch Mini]

What I tell my clients that like to have fun with there money, is to set up a Line of Credit with you bank. Nothing large, just an account you can afford to keep open ( say $5,000 to $10,000).
THIS IS NOW YOUR FUN ACCOUNT. If it gets to the max, you cannot buy anymore toys. If you keep it low, you have this money for what you heart desires. ( holidays, watches, TV, whatever)
DO NOT under any circumstance increase this amount. DO NOT borrow against other assets to pay this off.
You can use your credit card to buy stuff, then pay it off with your LOC.
Interest rates will be cheaper than credit cards.
BUT, always factor in the interest cost of your purchase. If your rate is 8%, and it will take you a year to pay for your "watch", ask yourself, Is the extra $400 interest ( on a 5,000 purchase) worth the gratification you will get by having that watch on your wrist today, rather than saving first??
NOW, with the Pannies, they come & go, so set up the LOC, if interest cost is okay, then you are set for that purchase when you find the right watch.
DO NOT jump in, just because you want it.
Hope this helps.
ps, you can send me $$ for this advise, as I will use it wisely for my next watch also

[JJ Irani]

Excellent advice, Peter, Ed and John.

I follow a few very simple rules of thumb:
- Can't afford it, don't buy it.
- Always buy band new and from an AD, whatever be the item.
- Screw credit cards - pay cash straight up front and that way you will always know where you stand on your own financial grounds on a day to day basis.

I'll be 60 this October....and those simple rules have NEVER proved me wrong!!

JJ

[Otis]

Originally Posted by Launch Mini

What I tell my clients that like to have fun with there money, is to set up a Line of Credit with you bank. Nothing large, just an account you can afford to keep open ( say $5,000 to $10,000).
THIS IS NOW YOUR FUN ACCOUNT. If it gets to the max, you cannot buy anymore toys. If you keep it low, you have this money for what you heart desires. ( holidays, watches, TV, whatever)
DO NOT under any circumstance increase this amount. DO NOT borrow against other assets to pay this off.
You can use your credit card to buy stuff, then pay it off with your LOC.
Interest rates will be cheaper than credit cards.
BUT, always factor in the interest cost of your purchase. If your rate is 8%, and it will take you a year to pay for your "watch", ask yourself, Is the extra $400 interest ( on a 5,000 purchase) worth the gratification you will get by having that watch on your wrist today, rather than saving first??
NOW, with the Pannies, they come & go, so set up the LOC, if interest cost is okay, then you are set for that purchase when you find the right watch.
DO NOT jump in, just because you want it.
Hope this helps.
ps, you can send me $$ for this advise, as I will use it wisely for my next watch also

Well said John, and everybody else so far. I totally agree!
except....well....you can't beat the bonus points when you buy with credit cards...
But, even then, I'll wait until I actually have the amount in cash before I buy. There's also something infinitely more rewarding about paying for something and owning it straight away.
I know that at my tender age I probably should be investing more money for the future, but hey, I DO do that and I still enjoy life & my watches.
And they are something that i really enjoy! Besides, being a confirmed bachelor I don't have anyone else to squander money on, so who better than myself?