Went out to buy my first ROLEX today but came home empty handed...:(

[Stonedcl]

So I have fell in love with the Rolex when I saw a customer of mine about 3 months ago wearing a datejust and i "had to have it" so I worked hard the last 3 months ( I work a commission based sales job ) to earn enough money on the side to get myself one.. SO after bugging my wife she finally agreed to it (we got married 2 months ago and bought our first home about 9 months ago).. So whiole in the mall in NJ a few months ago I saw the one I wanted .. Datejust 116200 with blue stick jubilee bracelet. so when trying it on the lady mentioned 0% financing for 12 months and she gave me a decent price about 13% off ( I have the cash for it but free money is great I would rather buy $5000 of silver at 35/oz and pay 500 a month for the watch and we hav 0 debt except the mortgage ) and my wife agreed I can get it with the finacing. So I told myself if they give me the watch for $5000 even and 0% for 12 months I am taking that same watch I tried on a month back home with me today.. SO after going in there and saying I will take it for $5000 and the 0% I'll take it.. SO she went on to tell me that they have to pay the finacing company 12% for the 0% so it was one or the other can't have both after I am pretty sure the lady last time was going to do both .. Why would she even mention the 0% in front of me and the wifey after telling us she will give us a break on the price of the watch... So I am a little upset.. She was not going to wave the taxes either unless I shipped it out of state so $5800 + tax with the 0% no break or about 15% off cash.. I live in NJ so I am thinking if I go to a AD in NY of Conn they can ship it to NJ and I save the taxes..
My question is do you guys think it is unreasonable to get this watch for $5000 even and get the 0%?? Does anyone know an AD in NY or conn that might take this deal because I WANT this watch and feel what I am asking for is not unreasonable..

The worst part about it is that my wife's best friend (like sister) uncle owns a AD in NJ but she refuses to get it from him because she does not want her friend or family to know that I am spending $5000 on a watch.. Her Friend is in a lot of debt and she thinks that would be like rubbing money in her face and she thinks her parents would also think this is a dumb thing to do to spend so much on a watch.. I Worked hard the last few months and put money aside for this.. I work 60 hours a week and I am into things like watches ( I have a rado and Baume and movado ) But love the 116200..

[Stonedcl]

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

[757doc001]

Hey brother. Getting both is alot. I am in the auto finance business and nothing is free. So the AD is paying for the 0% I can assure you that. so you take the 12% interest for the 0%. 12% does seem high plus the discount on the watch and it adds up to more thana 20% discount. Can your AD do it and give you that deal and still make money absolutely. The question is will they. I would go back to them explain the situation,get the manager involved and see what discount will they do withthe 0%.

Or since you have the cash get a larger discount on the way and pay cash"

Hope this helped. Either way a deal is a good one if you are happy!!!! thats it

[gt3pilot]

Originally Posted by Stonedcl

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

Yes !

If they use a company for the 0% interest loans it costs them a percent of the sale as a fee, how much exactly I don't know. When negotiating a discount, one usually makes an outright purchase.


-Scott B.

[dddrees]

Originally Posted by Stonedcl

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

It's not been my experience to see those kind of deals on anything.

[Jason71]

Originally Posted by Stonedcl

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

Wait until DavidSW has one for sale and buy it for even less. Then put the extra money in your pocket

[Noonan]

Originally Posted by Jason71

Wait until DavidSW has one for sale and buy it for even less. Then put the extra money in your pocket

This is the correct answer. Unless you really want the experience of buying the watch at an AD, I see no reason to not buy it from one of the sellers here.

[Art 1]

Originally Posted by Stonedcl

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

Usually you won't get free financing with a discount but you can sure ask.

[Genevapics]

Originally Posted by Stonedcl

I have off Friday so I am going to take a ride to new york or conn to get my Rolex.. Do you guys think asking for 15% and 0% financing is asking for too much?

Forget NY/CT come to Delaware, no sales tax...

[Stonedcl]

Originally Posted by Genevapics

Forget NY/CT come to Delaware, no sales tax...

I am too far from delaware... Like I said before I saved the money but free money right now with the falling dollar and rolex prices on the rise is the way to go for me.. I am very good with my money.. I have 0 credit card bills , I do have a mortgage and do have 2 cars that are leased but no cc bills.. I am on my way to new york in a hour to hopefully not leave empty handed.. I will not come home with it but hopefully have it shipped to my home in Nj to save the $350 in taxes..

Thank you for all the help and I do understand when you guys say "if you do not have the cash do not buy it" but like I said I worked hard the last few months to put enough money aside to buy it but with the 0% I think I can make money money work in better ways...

[CashGap]

Others here are much more in touch with the market than I, so I'll offer a generality.

Agreements are determined by the alternative to agreement.


Someday, I'll have this as a tattoo if I can ever find a font I like.

The jeweler may or may not be paying to fund the 0% financing. It may be that they are financing internally, have an L+175 bank loan, and just accept this as a cost of doing business. Or, they may be selling the contract to a finance company and receiving only 95% funding. For example, they sell you a $10,000 watch, finance company accepts the 0% deal by paying the dealer $9,500 in which case the financing definitely cost them $500 compared to a cash deal.

What is your BATNA*, what is the jeweler's BATNA?

If you CANNOT strike a deal at $5,000 0%, what will you do? Purchase from Alan Furman for $5,010 cash? What does the cash cost you, is it earning .0000000000001 in a money market account or are you borrowing it from a loan shark at 50% compounded daily? Will you buy it for $Xk on eBay or from TRF trusted seller?

If they do not sell it to you for $5,000 0%, who will they sell it to and when? Will they sell it at 5% off MSRP two weeks from now, or will they have to hold it for a year?

Your strongest position will be with cash in hand and solid knowledge of your BATNA, in other words, you should be able to say "I can buy this watch on TRF for $Xk today, but it would be more convenient to buy it from you today for $Yk, will you do the deal".

Generally he with the strongest BATNA is most able to walk from the deal, and ends up with the better deal.

My $.02.



*Best Alternative To Negotiated Agreement

[mcneguy]

You can also tell your wife that it's nobody's business how much money you spend on a watch, you earned it and how is it your fault that her friend is stupid with money?

Of course I have been married for 30 years and can talk to my wife like that, maybe 2 months is a tad early for that kind of conversation.

[rosspanics]

Originally Posted by mcneguy

You can also tell your wife that it's nobody's business how much money you spend on a watch, you earned it and how is it your fault that her friend is stupid with money?

Of course I have been married for 30 years and can talk to my wife like that, maybe 2 months is a tad early for that kind of conversation.

Oh the number of times I've had to have that conversation in my few years of marriage...

[chicfarmer1]

Yes, it's unrealistic to think you can get both. I think you must have misunderstood the first conversation, where she probably did state both as possibilities but you assumed they were going to both be granted on the same deal. I think if you take the financing deal, they have little incentive to give you much if any of a percent discount.

Here's where you need to work it out for yourself which matters more, the price you can negotiate now vs. the ability to finance and use your money another way.

---
PS Respectful conversations about money with one's spouse are the right thing to do whether you're married a month or a glacial period.

[zeuloa]

Originally Posted by CashGap

Others here are much more in touch with the market than I, so I'll offer a generality.

Agreements are determined by the alternative to agreement.


Someday, I'll have this as a tattoo if I can ever find a font I like.

The jeweler may or may not be paying to fund the 0% financing. It may be that they are financing internally, have an L+175 bank loan, and just accept this as a cost of doing business. Or, they may be selling the contract to a finance company and receiving only 95% funding. For example, they sell you a $10,000 watch, finance company accepts the 0% deal by paying the dealer $9,500 in which case the financing definitely cost them $500 compared to a cash deal.

What is your BATNA*, what is the jeweler's BATNA?

If you CANNOT strike a deal at $5,000 0%, what will you do? Purchase from Alan Furman for $5,010 cash? What does the cash cost you, is it earning .0000000000001 in a money market account or are you borrowing it from a loan shark at 50% compounded daily? Will you buy it for $Xk on eBay or from TRF trusted seller?

If they do not sell it to you for $5,000 0%, who will they sell it to and when? Will they sell it at 5% off MSRP two weeks from now, or will they have to hold it for a year?

Your strongest position will be with cash in hand and solid knowledge of your BATNA, in other words, you should be able to say "I can buy this watch on TRF for $Xk today, but it would be more convenient to buy it from you today for $Yk, will you do the deal".

Generally he with the strongest BATNA is most able to walk from the deal, and ends up with the better deal.

My $.02.



*Best Alternative To Negotiated Agreement

I like the way you think!

[Watch Professor]

You should be able to negotiate a good deal for two reasons: it's a DJ and not a sports model and you have cash. Put the cash ($5,000) on the counter in $100 bills and they most likely will do the deal.

[onryo]

Pay cash or don't buy it. If you are financing a watch then you shouldn't be buying one to begin with. I would keep saving until you have ALL the cash, then buy. My 2 cents.

[mickyvee]

+1 Cash is king!

[newbrolex]

Originally Posted by onryo

Pay cash or don't buy it. If you are financing a watch then you shouldn't be buying one to begin with. I would keep saving until you have ALL the cash, then buy. My 2 cents.

Agreed. I like to use financing only when absolutely necessary (i.e. house, car). I like knowing that I have full cash for luxury items so I don't run into any trouble later. If you can't purchase now without financing, maybe wait and work another month or 2 to save up. The watch will still be there. That's my opinion.

[favonian]

Originally Posted by onryo

Pay cash or don't buy it. If you are financing a watch then you shouldn't be buying one to begin with. I would keep saving until you have ALL the cash, then buy. My 2 cents.

+1
The only thing to buy on loan is houses (cause the're REALLY expensive), otherwise youre givin your cash away to someone else and that's stupid

[duffman]

Originally Posted by onryo

Pay cash or don't buy it. If you are financing a watch then you shouldn't be buying one to begin with. I would keep saving until you have ALL the cash, then buy. My 2 cents.

Good advice, I usually pay by credit card and have the cash on hand to pay the bill off as soon as I get it! :) Do not get caught up in the finance option, I would look on TRF and get a better deal!

[mtrunner]

Good luck with your search. I hope you can find a deal that works for you so you can get the watch you love. Out of curiosity have you checked out the trusted sellers on here and what they can do for you? It is definitely with a shot to see what you can get on here.

[cyglee]

Why not buy from one of TRF trusted good guy sellers??

Edit... see above, Jason beat me to it!

[Lion]

Btw...I think you will get your best deal from anyone if you pay with cash. As for investing in $35.00 per ounce silver I would rethink your position!!!

[CashGap]

Originally Posted by Lion

Btw...I think you will get your best deal from anyone if you pay with cash. As for investing in $35.00 per ounce silver I would rethink your position!!!

You thinking what I'm thinking... silver options, so that OP gets the max benefit from the increases ahead for silver?

[Stonedcl]

Originally Posted by Lion

Btw...I think you will get your best deal from anyone if you pay with cash. As for investing in $35.00 per ounce silver I would rethink your position!!!

I am sorry to bring this up from the dead but wanted to update..
Got the watch for $5300 shipped no tax and 0% interest for 12 months..
My first payment is not due yet but the $5000 in SILVER made me about $1,430 since the thread was started.. So the growth in the silver will pay for the watch in 6 months and will end up paying a lot less with the way the dollar is falling.. Can anyone say hyperinflation.?

So to all those people saying rethink my position on silver, I think you should look around at this world we live in and rethink EVERYTHING..

[1bad750]

Great job bro... i love my datejusts..

[Gerardus]

I do not have experience with financing, I think it is better to buy cash or not at all.

[TKB]

Originally Posted by Gerardus

I do not have experience with financing, I think it is better to buy cash or not at all.

+1. cash is king

[Stonedcl]

I have the cash . Me and my wife put a certain amount away every paycheck for the bills and something extra .. Just in case.. so I have been putting extra on the side for this watch and finally have enough but the way the fed is printing cash I belive putting that money into Silver and taking the 0% is the best option.. At the rate the dollar is falling I belive the 0% even if i have to pay $500 more is the BEST OPTION.. My us dollars are deffinatly worth more right now then they will be in a year and I bet that the money I make on the silver will pay for the watch.. I belive that finacing a Rolex is a better Idea then financing a car because the car will lose more % of its value then the rolex would.. What I do not understand is if someone is giving you a free loan WHY NOT!?
But this thread is not about finacing vs buying cash.. Thanks for all the recomindations of buying from people on here but like I said I would feel safer to buy from a AD and I am borrowing Free money because the dollar is in a free fall!!