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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

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Old 23 April 2008, 11:36 AM   #61
Gil F.
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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.
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Old 23 April 2008, 11:46 AM   #62
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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.
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Old 23 April 2008, 11:48 AM   #63
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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.
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Old 23 April 2008, 12:01 PM   #64
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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
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Old 23 April 2008, 12:01 PM   #65
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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!
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Old 23 April 2008, 12:02 PM   #66
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I write a check.
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Old 23 April 2008, 12:34 PM   #67
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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.
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Old 23 April 2008, 01:47 PM   #68
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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!
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Old 23 April 2008, 02:11 PM   #69
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Personally i didn't finance my watch, and secondly if i did not have the money to buy something i wouldn't buy it.
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Old 23 April 2008, 07:18 PM   #70
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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.
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Old 23 April 2008, 07:28 PM   #71
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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...
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Old 23 April 2008, 08:16 PM   #72
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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'.
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Old 23 April 2008, 09:11 PM   #73
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beg, steel & borrow.... but never credit ;-)
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Old 23 April 2008, 09:29 PM   #74
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Yes, on credit cards in case I have problems but cash gives better discounts!
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Old 23 April 2008, 10:10 PM   #75
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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.
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Old 23 April 2008, 10:17 PM   #76
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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."
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Old 23 April 2008, 10:27 PM   #77
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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
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Old 23 April 2008, 10:43 PM   #78
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0% for 12 months on my TT GMTIIc. Same price as cash. A no brainer.
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Old 23 April 2008, 10:48 PM   #79
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And when I can afford it, I shall buy it!!

and flip it and buy it and flip it and.....
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Old 23 April 2008, 10:53 PM   #80
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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.
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Old 23 April 2008, 10:58 PM   #81
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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.
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Old 24 April 2008, 07:12 AM   #82
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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.
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Old 24 April 2008, 07:21 AM   #83
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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.
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Old 24 April 2008, 08:28 AM   #84
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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.
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Old 24 April 2008, 09:01 AM   #85
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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.
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Old 24 April 2008, 09:21 AM   #86
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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!!!
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Old 24 April 2008, 09:43 AM   #87
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yup like everyone here said if its 0% finance. than yes.
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Old 24 April 2008, 10:49 AM   #88
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Cash! Cash! Cash!
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Old 24 April 2008, 11:07 AM   #89
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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.
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Old 24 April 2008, 12:06 PM   #90
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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.
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