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.

[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

[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.

[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.

[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.

[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.

[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.

[mickyvee]

+1 Cash is king!

[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.

[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

[cyglee]

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

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

[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.

[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!!!

[Gerardus]

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

[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]

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!!

[rolexertion]

Two things: First, get the watch; lose the wife that won't help you. Second, pay cash, and you can do a lot better than a lousy 13-15%. (Right here, among other places).

[Tri-Tip]

Pay cash, there is noplace right now that you can make 12% on your money, and know it will be there when the bill comes due.

[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

[FLAJIM]

I have to agree..... Cash is the only way to go. I waited until my 50th birthday to get my first Rolex. I never looked back if I should have spent the money..... It was my gift. No payment to remind me every month....

Just my 2 cents. Good luck with no matter what route to take, wear it in good health.

Be Safe JIM

[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

[Christiaan]

Talk to a reputable TRF seller about the model you want and you will save a lot of money...

[josh6262]

I am in the jewelry & watch business on the wholesale level. From what i have seen in the last year I would advise you to buy the watch asap. It's up to you which way you want to buy it (cash or credit) but Rolex is changing the game as we speak. Prices will keep going up and there will be fewer and fewer AD's. Soon, there will not be an AD who will even ship out of his own store. As China, India and the far East grow and the dollar keeps weakening, high end brands such as Rolex are needing the USA less and less. So they can restrict the business here as they see fit. Pre-owned Rolex is going to increase in value due to this.
If you want a Rolex and have the money to buy one, now is the time. If you get financing or a discount consider yourself lucky. This time next year I bet there are 10% less AD in the USA.

[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...

[gregmoeck]

cash, you dont know if you will still have the cash 12 months from now, the finance stuff is a gimmick

[rosspanics]

As has been said a number of times already... I suggest to the OP that he just find on here that he likes and buy it!

[R.G]

Hi,
I'm also in sales and next month’s bonus will enable me to buy my first Rolex too! Coincidentally it’s going to be the exact model you are getting, except for a Silver dial.
Rolex is just one of those brands that sells itself. In my experience some people that work in high-end jewellers aren’t necessarily sales people, not in the real sense of the word. Yes they have some knowledge on the products they stock and yes they can make a transaction at the till, but realistically they offer items that are sought after anyway, not to mention you walked in to the store – a clear indication you are interested! Perhaps these two reasons contributed to why the woman at the store let you actually walk out of the store without the watch?!
The 0% and discount situation – who knows who got the wrong end of the stick, something somewhere got lost in translation, mabe she should have tried to resolve it? Testament to what I just said!
Is the watch brand new? The cost of the 116200 brand new from a typical jeweller on Bond St over here currently works out to $6,267 – This is how much I’ll be paying, so $5,000 sounds really good to me!! Not to mention that the pricing across the Rolex range my be going up in April.
Someone else posted that if you need to get finance on something like a watch to enable you to buy it then you shouldn’t get it, and I have to say that I totally agree with that person. You did say however that you have actually got the funds to buy it anyway but seeing as the 0% was offered, you thought you would take advantage of it. Well, now that the 0% in addition to the discount isn’t on the table anymore just go buy it with the money you have!
If you really feel that you want something super special in terms of further discount, I would look in to the possibilty of seeing what your wife’s friend’s uncle can do for you.
Why should you worry about rubbing money in her face? Do you owe her money? Were you responsible for her current financial situation?? Be discreet, but do not feel guilt.
You will always find people that will be critical about what you choose to buy and how much you decide to spend on things. Ultimatley though beauty is in the eye of the beholder – you will value something that someone else will ridicule, perhaps vice-versa on occasion.
Surely it’s all about working hard to get what you want in life. Do you work hard to get to the point where you can reward yourself but then have the enjoyment taken away because you have to justify it to someone who has different circumstances or values to you?
You worked especially hard this year to enable you to get the watch, to your merit you were considerate and consulted your wife, and from what you say she isn’t stopping you from going and getting it, which is really nice!
From the concerns you have expressed it sounds like you are a conscientious person, which to me just reinforces that you should absolutely go for it.