Lease a Rolex

[azmmza]

Would you lease a brand new Rolex Submariner for 36 months at $100 a month?
I lease my car
I lease my condo
I know that im better off buying both, and not leasing but most people still lease their cars.

So bottom line, if you had the option to lease the watch would you?

[oneillba]

No! At the end of the watch lease you may only have a suntan line to show for all your money out the door.

[SPACE-DWELLER]

Not a thing I would do.

[toph]

honestly 100% definitely not. Leasing - you would pay $3600 and at thr end of it you dont own it- you give it back. do you mean finance it?

[mfer]

Well, I don't lease anything, so no.

[f16570]

Lease a watch? No chance........... take 0% funding now that would be a gift.

[azmmza]

do any of you who said NO lease a car?

you have nothing to show for it at the end either.

im not talking about financing

im talking about a pure lease

[toph]

i own my car- paid up front - dont lease anything -sorry. why dont you just finance it instead of lease it. I wouldnt do either but leasing is just a waste of money in my opnion.

[MrClean]

doubt you count on those benefits from leasing a watch

[stnmikita]

Leasing anything is a bad idea.

[scottschoe]

Never. Seems silly to me.

[Scarface]

No. I develop a bond with my watches - maybe this is stupid but it happens ... - thus, I want it to be mine.
I guess I am very possesive

[Bobareno]

Not for me.

[SPORTSFAN]

I have leased cars when I knew I was going to do excessive mileage for a year.
The lease payments were about half what I would have lost in depreciation,so leasing is a sensible option on a depreciating asset.......not one where the value of the item will rise or remain the same.
Regards Mike.

[Terry Newton]

I have leased cars also. It made sense to me as I got a new vehicle every two years and never had any maintenance expenses. At present I paid cash for my latest Lexus RX 400h. I have a retirement plan which included saving all of the money I made towards my car lease expense and putting that money in investments after maxing out Betsy's and my IRA Accounts. Now we have no car payments and I have two reliable vehicles that are on the 10 year ownership plan and I can save like a mad man. I want to retire with lots of assets.

I could never see leasing a Rolex though. I have to be the owner.

Terry Newton

[GoldenBear]

A car and a watch are two different things to lease. If you can't afford to buy a nice car, that is one thing. If you can't afford a nice watch that is something else.

[azmmza]

Originally Posted by GoldenBear

A car and a watch are two different things to lease. If you can't afford to buy a nice car, that is one thing. If you can't afford a nice watch that is something else.

you might not be able to drop 6K on the watch but you can afford $100 per month

and many people sell their watch after 2-3 years and take a 1-2 K loss on the sale.

this way you dont have to worry about selling, and you dont need all the cash up front

[Markg]

i always bought my cars outright until i started my own business; then the accountant showed me how i could save money by leasing a new car every couple years (the US has some strange tax laws).

but a watch? how am i going to write THAT off??? doesnt make any sense to me.

[Welshwatchman]

If you leased say a GMTc SS for $3600 over 3 years you would have nothing to show for it except for a $7,000+ bill for a new one (or a new lease).

If you purchased the same watch on interest free for the same period it would have cost you a further $3,000 over the price of the lease and the watch would still be on your wrist.

The saying is "horses for courses". There may be merit in leasing a vehicle but none whatsoever in leasing a watch.

[GoldenBear]

Originally Posted by azmmza

you might not be able to drop 6K on the watch but you can afford $100 per month

and many people sell their watch after 2-3 years and take a 1-2 K loss on the sale.

this way you dont have to worry about selling, and you dont need all the cash up front

You can also get a 0% interest deal from one of the AD's and pay over time. My last watch was 6K and even though I had the cash I just pay $250/mo. for 2 years and I get to keep the watch.

[gha]

Unless, for some reason, you can tax deduct the watch lease (maybe a SCUBA instructor, or self-employed deep sea diver that can justify it as "dive equipment") & want to upgrade the item every few years, turning in the old beatup one for a new one. I cannot see why you wouldn't finance it with a Line of Credit or something @ a low interest rate (not credit card rates, I'm talking 5%) & pay the watch off over 5 years @ $100 month + a little interest. Then you own the watch, same cost.
Is there even a lease company out there that is interested in leasing watches?...gha

[Art 1]

No.

[ed830]

why not? Leasing is simply a different form of financing. The real difference is on paying a downpayment vs. retain a residual value. On leased items you can always pay the residual off and own the item out right in the end.

[CPTL]

With a car, what you're really paying for in a lease is depreciation. The 30k car will be worth 18k after a 3 year lease, so you're paying for the dealer's depreciation (plus some taxes, profit, etc). That money isn't "thrown away," as even if you bought the car for $30k you would still be out $12k in depreciation, plus sales tax, the interest you could have made on a $5k (for example) down payment, etc.

With a Rolex, the asset is likely to either stay flat or appreciate in three-years' time--so the lease cash is thrown away.

I can't think of any financially sound way to lease an asset that doesn't depreciate. Using purchase money financing will always be superior.

[Brcmpbl]

Ridiculous.

[duxdrummer]

No way.

[shelley]

Honestly, if you can't pay for it up front, I don't see why you wouldn't pay for it with a 0% credit card or special financing from the AD. Maybe the leasing works for someone that doesn't plan to keep the watch long?

[mfer]

Originally Posted by shelley

Honestly, if you can't pay for it up front, I don't see why you wouldn't pay for it with a 0% credit card or special financing from the AD. Maybe the leasing works for someone that doesn't plan to keep the watch long?

I don't know. It would have to be a pretty short time or a really unpopular Rolex. They hold their value well!

[Timekiller]

I am aware this is a developing trend but I have a couple of questions regarding leasing a watch. Can you get out of the lease early? Any penalties for that? Do you have the option to purchase the watch at lease end? Value based on what? If not, then do you have to lease another one?

Like most who have responded I understand the advantages/disadvantages of leasing a vehicle. I'm not sure I see much benefit except a small monthly payment versus an outlay all at once in leasing a watch. In the case of the vehicle you can get out early, ie trade it in, you can buy it at the end if you fall in love. What happens with the watch?

[dotcomakazee]

Originally Posted by azmmza

do any of you who said NO lease a car?

you have nothing to show for it at the end either.

im not talking about financing

im talking about a pure lease

If you can qualify for a lease, then your credit is good enough to just finance it. It would probably cost you about double or a little more for the same term but you have an ASSET at the end.
It only makes sense to lease assets that greatly depreciate,such as cars. Rolex = not one of those assets.