The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX


Go Back   Rolex Forums - Rolex Watch Forum > Rolex & Tudor Watch Topics > Rolex General Discussion

View Poll Results: Did you finance your rolex?
Yes, I did. 36 17.39%
No, I paid cash. 171 82.61%
Voters: 207. You may not vote on this poll

Reply
 
Thread Tools Display Modes
Old 23 April 2008, 11:36 AM   #61
Gil F.
Member
 
Join Date: Sep 2007
Real Name: Gil
Location: NC
Watch: Sea-Dweller
Posts: 432
No brainer for me. Use someone else's money if you can. If you have interest-free financing for any length of time and it's a major purchase for you, use their money. But you better pay on time, every time, or they will default you and charge you a truly obscene interest rate, on the order of 24% APR. I have used these promotional financing deals many times even if I had the money to just write a check ... the interest I make on the money in the bank is worth it.
Gil F. is offline   Reply With Quote
Old 23 April 2008, 11:46 AM   #62
Ed Rooney
"TRF" Member
 
Join Date: Aug 2007
Location: Annapolis, MD
Watch: Sea-Dweller 16600
Posts: 5,081
Quote:
Originally Posted by redshirt1957 View Post
No such thing as 0% interest. These notes are factored (sold) to a financial institution at a cost to the seller. This cost is just a cost of doing business and is part of the overall cost of the products you buy. Also, they will not discount the item as much as when someone is paying cash. Trust me. I have made a lots of money on people buying with credit. If it was such a good deal then those who lend money would be leverage to the gills. Credit is bad. My credit rating is zero and I am very happy. Hey, I am old and dumb and it is your money.
I doubt your credit rating is zero. In fact, I think that's impossible.
Ed Rooney is offline   Reply With Quote
Old 23 April 2008, 11:48 AM   #63
Rockrolex
TRF Moderator & 2024 Patron
 
Rockrolex's Avatar
 
Join Date: May 2005
Real Name: God
Location: Washington, D.C.
Watch: What do you think?
Posts: 37,471
Quote:
Originally Posted by DSJ View Post
I don't want to take the time to make payments on a 0% credit. I travel, etc., and hate it when I get a $35 ding for not getting a payment in on time. I hate carrying credit. I only finance my house and car, and only the car for work/depreciation purposes. If I was trying to get points or something, and paying it off immediately, that's something else. Plus, cash is extremely liquid, thereby giving me better pricing.
That's how I get to fly first class on a coach ticket. It's all about miles. Every one of my watches has been bought with plastic. But the plastic is paid in full every month. No finance charge, no interest payments and about 100K plus miles each year into the milage bank.
__________________
Despite the high cost of living, it's still very popular.

Tosser Cabinet Member

Official Member: 'Perpetual 30' Vegas International GTG 2016
Official Member "WIS-CON" Las Vegas International GTG 2017
Official Member "WIS-CON" Las Vegas International GTG 2018
Official Member "WIS-CON" Las Vegas International GTG 2019
Rockrolex is offline   Reply With Quote
Old 23 April 2008, 12:01 PM   #64
bsodmike
"TRF" Member
 
bsodmike's Avatar
 
Join Date: Apr 2008
Location: Sri Lanka
Watch: PP 5146 & AP 15300
Posts: 281
Quote:
Originally Posted by Rockrolex View Post
That's how I get to fly first class on a coach ticket. It's all about miles. Every one of my watches has been bought with plastic. But the plastic is paid in full every month. No finance charge, no interest payments and about 100K plus miles each year into the milage bank.
That's a great idea - that's as far as I'd go for using a credit card and making luxury purchases
bsodmike is offline   Reply With Quote
Old 23 April 2008, 12:01 PM   #65
ianmedium
Deregistered
 
Join Date: Jun 2007
Location: Vancouver
Watch: Rolex Datejust
Posts: 450
Well I got into deep doo doo years ago by over extending myself in credit. Never again, I would rather go without than get into that position again!

A rolex is just a watch, made in the millions. It's not that special and certainly wearing one does not mark you out to be special or show that you have made it!

Trust me if you hang out with the crowd that thinks wearing an expensive watch is a sign of worthiness you are on a slippery slope of extreme unhappiness!

If you can't stretch to the Rollie at the moment then either save for one or aim a little lower in price( note, that does not mean you have to sacrifice quality) and have fun collecting something you can look at and know you own outright!

Events that have happened to me over the past few months have shown me that nothing external that I have means anything without inner happiness, As much as I love watches they are nothing in comparison to feeling safe and secure, get that sorted then go get the fripperies of life, you'll enjoy them more, trust me!
ianmedium is offline   Reply With Quote
Old 23 April 2008, 12:02 PM   #66
Art 1
Banned
 
Join Date: Feb 2008
Location: Florida, Canada
Watch: Rol/Seik/Tud/Omega
Posts: 30,244
I write a check.
Art 1 is offline   Reply With Quote
Old 23 April 2008, 12:34 PM   #67
kelly56
"TRF" Member
 
kelly56's Avatar
 
Join Date: Feb 2008
Real Name: Mike
Location: Kentucky
Watch: 16610 1675 Speedy
Posts: 1,057
I had the money to pay cash, but did a 6 month same as cash deal (0% INT).
If I didn't have the cash I would not have financed. Too many Murphy's out there.
__________________
kelly56 is offline   Reply With Quote
Old 23 April 2008, 01:47 PM   #68
sherwin
"TRF" Member
 
Join Date: Nov 2007
Location: Perth/Singapore
Posts: 1,764
Quote:
Originally Posted by kelly56 View Post
I had the money to pay cash, but did a 6 month same as cash deal (0% INT).
If I didn't have the cash I would not have financed. Too many Murphy's out there.
i paid cash, but if i can use my cash to work and get credit to work even harder for me, then im sure using credit is a smart thing to do.

ie. 0% interest on credit for 12mths. Now putting the cash in a term deposit earning the basic rate (6% in my case) and doing so for the duration until i get the bill in the mail asking me to pay up!
__________________
Want to Buy:SS GMT black;116509 WG Daytona Metrorite
sherwin is offline   Reply With Quote
Old 23 April 2008, 02:11 PM   #69
jasonbellevue
"TRF" Member
 
Join Date: Mar 2007
Real Name: Jason
Location: at home
Posts: 5,098
Quote:
Originally Posted by toph View Post
Personally i didn't finance my watch, and secondly if i did not have the money to buy something i wouldn't buy it.
__________________
jasonbellevue is offline   Reply With Quote
Old 23 April 2008, 07:18 PM   #70
walds11
"TRF" Member
 
walds11's Avatar
 
Join Date: Jul 2005
Real Name: Adam
Location: Philly ‘burbs
Posts: 5,629
I never financed a watch, usually pay via cash or check. If I do use my credit card, I pay the balance off right away.
__________________
Adam
walds11 is offline   Reply With Quote
Old 23 April 2008, 07:28 PM   #71
vukotab
"TRF" Member
 
vukotab's Avatar
 
Join Date: Aug 2007
Real Name: Vukota Brajovi
Location: Belgrade,Serbia
Watch: ing movies!
Posts: 3,812
I really don`t know what to say,but the same thing as most of the members already said:cash rules!For me,at least...
__________________
My fashion blog and Instagram:
https://stylebyvukota.com/
https://instagram.com/vukotabrajovic/
vukotab is offline   Reply With Quote
Old 23 April 2008, 08:16 PM   #72
Oscar
"TRF" Member
 
Oscar's Avatar
 
Join Date: Nov 2007
Real Name: Michael
Location: Melb, Australia
Watch: SS GMTIIC
Posts: 1,350
Quote:
Originally Posted by ianmedium View Post
Well I got into deep doo doo years ago by over extending myself in credit. Never again, I would rather go without than get into that position again!

A rolex is just a watch, made in the millions. It's not that special and certainly wearing one does not mark you out to be special or show that you have made it!

Trust me if you hang out with the crowd that thinks wearing an expensive watch is a sign of worthiness you are on a slippery slope of extreme unhappiness!

If you can't stretch to the Rollie at the moment then either save for one or aim a little lower in price( note, that does not mean you have to sacrifice quality) and have fun collecting something you can look at and know you own outright!

Events that have happened to me over the past few months have shown me that nothing external that I have means anything without inner happiness, As much as I love watches they are nothing in comparison to feeling safe and secure, get that sorted then go get the fripperies of life, you'll enjoy them more, trust me!
Carefully read the first sentence of the attached quote.

Do not buy on credit if you cannot to pay off the full amount in a very short space of time. Save the money, then pay cash. House, mortgage payments, family etc take priority over any sort of 'watch'.
Oscar is offline   Reply With Quote
Old 23 April 2008, 09:11 PM   #73
murphy77
Member
 
Join Date: Feb 2008
Location: U.K
Posts: 20
beg, steel & borrow.... but never credit ;-)
murphy77 is offline   Reply With Quote
Old 23 April 2008, 09:29 PM   #74
TDH
"TRF" Member
 
TDH's Avatar
 
Join Date: May 2007
Real Name: Jay
Location: Here n there
Watch: Sub
Posts: 1,641
Yes, on credit cards in case I have problems but cash gives better discounts!
TDH is offline   Reply With Quote
Old 23 April 2008, 10:10 PM   #75
buz-lh
"TRF" Member
 
buz-lh's Avatar
 
Join Date: Dec 2007
Real Name: Buz
Location: Atlanta
Watch: Rolex Tudor Pam
Posts: 5,108
Pay cash. If they offer 0% financing ask for a comparable discount to the amount of interest not being charged. I hate trying to remember to make a payment. I like life as simple as possible.
__________________
Buz
The faster you move, the slower time passes, the longer you live. Peter Diamandis

buz-lh is offline   Reply With Quote
Old 23 April 2008, 10:17 PM   #76
redshirt1957
"TRF" Member
 
redshirt1957's Avatar
 
Join Date: Sep 2007
Real Name: Bubba
Location: Bitsyville!
Watch: Blue YM today!
Posts: 10,053
The subject of credit now ranks right next to "are we in a recession" in terms of being controversial. As far as having a zero FICO (Fair Isaac Company) score just go to aaacredit.com and read the following.

"The bureau may have duplicate information. This causes reduced scoring. Why a zero score? Not enough credit, too much derogatory credit, or no activity of any kind in the last 6 months."
redshirt1957 is offline   Reply With Quote
Old 23 April 2008, 10:27 PM   #77
Dan Pierce
2024 Pledge Member
 
Dan Pierce's Avatar
 
Join Date: Dec 2006
Real Name: D'OH!
Location: Kentucky
Watch: Rolex-1 Tudor-3
Posts: 35,666
Quote:
Originally Posted by JJ Irani View Post
Cash only. Simple rule of thumb:

If I can't afford, I won't buy it!!

And when I can afford it, I shall buy it!!
That's the crowning achievement of owning a Rolex. If you can't afford to walk into an AD and purchase then the next best thing is go with a preloved Rolex. But that takes time, knowledge, persistance, and risk. If you can't afford that then it is not meant to be, just yet.
Save, work hard, and you will be wearing a crown of your own someday. And it will be even sweeter than you'll ever expect.
Good luck,
dP
__________________
TRF Member# 1668
Bass Player in TRF "AFTER DARK" Bar & NightClub Band
Commander-in-Chief of The Nylon Nation
The Crown & Shield Club
Honorary Member of P-Club
Dan Pierce is online now   Reply With Quote
Old 23 April 2008, 10:43 PM   #78
Scooby
Member
 
Join Date: Dec 2006
Real Name: Darren
Location: Virginia, USA
Watch: GMT
Posts: 923
0% for 12 months on my TT GMTIIc. Same price as cash. A no brainer.
Scooby is offline   Reply With Quote
Old 23 April 2008, 10:48 PM   #79
bwalkerVintage
Banned
 
Join Date: Feb 2007
Real Name: Brendan
Location: Cougar Country
Posts: 825
Quote:
Originally Posted by JJ Irani View Post
And when I can afford it, I shall buy it!!

and flip it and buy it and flip it and.....
bwalkerVintage is offline   Reply With Quote
Old 23 April 2008, 10:53 PM   #80
Lisa
"TRF" Member
 
Lisa's Avatar
 
Join Date: Sep 2007
Location: oklahoma city
Posts: 15,741
I'm with you guys who would rather save up and pay in cash. Gives you something to look forward to! Living debt-free gives me peace of mind that's worth more than anything I could buy on credit.
Lisa is offline   Reply With Quote
Old 23 April 2008, 10:58 PM   #81
delldeaton
"TRF" Member
 
delldeaton's Avatar
 
Join Date: Mar 2006
Real Name: Dell Deaton
Location: NAWCC Museum!
Watch: Never kiss & tell!
Posts: 883
Thumbs down

Haven't and wouldn't.

Agree w/ other Replies here in that one shouldn't spend money they don't have on something of this nature. Further, I believe that working forward toward it brings more satisfaction; working after to pay for something you already have and is growing older brings resentment.
__________________
delldeaton is offline   Reply With Quote
Old 24 April 2008, 07:12 AM   #82
Smoak352
"TRF" Member
 
Join Date: Apr 2008
Location: FL
Posts: 201
The problem is, if I save for two years, there will be two price increases likely. If I put on a 0% credit card with $1000 down, then if I have to sell, then I will probably not loose money.

PS my truck is paid for, so i have no car payment.
Smoak352 is offline   Reply With Quote
Old 24 April 2008, 07:21 AM   #83
redshirt1957
"TRF" Member
 
redshirt1957's Avatar
 
Join Date: Sep 2007
Real Name: Bubba
Location: Bitsyville!
Watch: Blue YM today!
Posts: 10,053
Quote:
Originally Posted by Smoak352 View Post
The problem is, if I save for two years, there will be two price increases likely. If I put on a 0% credit card with $1000 down, then if I have to sell, then I will probably not loose money.

PS my truck is paid for, so i have no car payment.
You have received good advice both for and against debt. If you have made up your mind just do it.
redshirt1957 is offline   Reply With Quote
Old 24 April 2008, 08:28 AM   #84
Road Warrior
"TRF" Member
 
Road Warrior's Avatar
 
Join Date: Dec 2007
Real Name: Brad
Location: NC
Watch: Any Rolex
Posts: 378
I've paid cash for every Rolex I've had. I can't see going in debt for a watch. I love 'em but I'm not going to make a watch payment to have one.
__________________
Wearing a Rolex is perpetual bliss!
Road Warrior is offline   Reply With Quote
Old 24 April 2008, 09:01 AM   #85
GoldenBear
"TRF" Member
 
GoldenBear's Avatar
 
Join Date: Jun 2007
Location: San Francisco
Watch: Submariner
Posts: 2,480
It's a matter of semantics. If people have the cash and pay over time at 0% that doesn't count as "financing". If you don't have the money and put it on a CC at some interest rate, then hope to pay over time, then it is "financing". Two very different things.
__________________
____________________________________________
Rolex Blue TT Submariner
Rolex SS Submariner
Breitling Emergency Mission

**They are just watches, wear 'em.**
____________________________________________
GoldenBear is offline   Reply With Quote
Old 24 April 2008, 09:21 AM   #86
MAC4130
"TRF" Member
 
MAC4130's Avatar
 
Join Date: Jan 2008
Real Name: Miguel Cornejo
Location: El Paso Tx
Watch: 116500LN
Posts: 488
Quote:
Originally Posted by ianmedium View Post
Well I got into deep doo doo years ago by over extending myself in credit. Never again, I would rather go without than get into that position again!

A rolex is just a watch, made in the millions. It's not that special and certainly wearing one does not mark you out to be special or show that you have made it!

Trust me if you hang out with the crowd that thinks wearing an expensive watch is a sign of worthiness you are on a slippery slope of extreme unhappiness!

If you can't stretch to the Rollie at the moment then either save for one or aim a little lower in price( note, that does not mean you have to sacrifice quality) and have fun collecting something you can look at and know you own outright!

Events that have happened to me over the past few months have shown me that nothing external that I have means anything without inner happiness, As much as I love watches they are nothing in comparison to feeling safe and secure, get that sorted then go get the fripperies of life, you'll enjoy them more, trust me!
Ian, this is by far the best post of the thread, you Sr are the real deal! no nonsense, no snoby "If you have to ask the price you cant afford it shit".
Rolex watches are a nice watch as many other watches and the fact that you can buy one shows jack shit about who you are or what you have achieved! Credit no credit, cash or food stamps! If you want one you will get one new or used and that's it!
Since you have no Debt try and keep it that way! It is so nice not having debts! Save cash every month, put it on layaway use those 0% loans if you like en enjoy life! Is you do not have the cash right now you will soon and that will only mean you wanted it bad! not that you "made it in life"...
please people!!!
__________________
Rolex Daytona 116500LN Black, Rolex Daytona 116500LN White, Rolex TT GMTIIC, Panerai 88, Cartier Santos TT Auto, Omega Seamaster GMT Bond Co-axial, Omega Constellation SS Auto, Tag Heuer Carrera Chrono Tachy Auto
MAC4130 is offline   Reply With Quote
Old 24 April 2008, 09:43 AM   #87
mdtddd2007
2024 Pledge Member
 
mdtddd2007's Avatar
 
Join Date: Oct 2007
Location: U.S
Watch: Rolex, PP, AP, GS
Posts: 5,628
yup like everyone here said if its 0% finance. than yes.
mdtddd2007 is offline   Reply With Quote
Old 24 April 2008, 10:49 AM   #88
marshallr47
"TRF" Member
 
marshallr47's Avatar
 
Join Date: Oct 2006
Real Name: Ron
Location: Alabama
Watch: Daytona,TT Sub,GMT
Posts: 4,673
Cash! Cash! Cash!
__________________
Ron
marshallr47 is offline   Reply With Quote
Old 24 April 2008, 11:07 AM   #89
JCLZ
"TRF" Member
 
JCLZ's Avatar
 
Join Date: Dec 2007
Real Name: Julio César
Location: Houston
Watch: Rolex LV
Posts: 321
The only right thing is never to pay interest on anything. If the store or the credit card doesn’t offer you an accommodated way with no interest to pay for the watch, don´t buy it. You pay with credit and your soul is theirs. Cash always and only if doesn´t intervene with your lifestyle: food, medics, and house.
JCLZ is offline   Reply With Quote
Old 24 April 2008, 12:06 PM   #90
sea-dweller
"TRF" Member
 
sea-dweller's Avatar
 
Join Date: Oct 2007
Real Name: Dennis
Location: Bay Area - 925
Posts: 40,018
No, paid cash for all of them. A Rolex is a luxury item for me, and I could not afford to pay cash for one, I shouldn't own one.
sea-dweller is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Takuya Watches

Bobs Watches

Asset Appeal

My Watch LLC

OCWatches

DavidSW Watches

Coronet


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.