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xeal · 12 July 2015, 08:24 PM

Would you personally prefer this method?
Basically a cousin of mine wants to sell his BLRO. I have considered buying it off him.
He has offered to make the payment method easier on me if I like. Basically to pay him 50% of his asking price up front, and the rest 10% each every month.

No interest on it, but just to help me out.
I do have the cash, but my account takes less of a hit, and I don't really "feel" a huge amount coming out of the account this way.

Would you do it?

superstarmar · 12 July 2015, 08:30 PM

Why not ? Seems fair enough ... Plus in about 6 months or so it'll be paid in full... Go for it !!! Beautiful watch too ...

xeal · 12 July 2015, 08:32 PM

Quote:

Originally Posted by superstarmar

Why not ? Seems fair enough ... Plus in about 6 months or so it'll be paid in full... Go for it !!! Beautiful watch too ...

Yeah was thinking the same.
Also feels nicer not seeing your account take the whole hit, but still owning the watch!
I think I sense an incoming thread in a few weeks.

xeal · 12 July 2015, 08:37 PM

Meant to post this on the Rolex section.
My mistake..

kilyung · 12 July 2015, 09:01 PM

Kind offer

MonBK · 12 July 2015, 09:04 PM

Fre money, sure I would.

brandrea · 12 July 2015, 09:13 PM

Sounds fair to me, very nice of him to help make it easy for you.

lapince · 12 July 2015, 09:52 PM

Well that depends on the price, can't say yes or no without knowing the price he's asking...

Melvin_arnold · 12 July 2015, 10:36 PM

That's a good deal IMHO

AK797 · 12 July 2015, 10:38 PM

Yeah, as he's your cousin you should be able to work things out should anything affect the schedule.

Muzz · 12 July 2015, 10:45 PM

Sounds decent providing the price is reasonable. You would also be helping him out as well. Just make sure the deal is not one sided and you should be good!!!

dysondiver · 12 July 2015, 10:46 PM

win win , if the price is reasonable.

superdog · 12 July 2015, 11:02 PM

Quote:

Originally Posted by lapince

Well that depends on the price, can't say yes or no without knowing the price he's asking...

Mr. K · 12 July 2015, 11:07 PM

Sounds fair. I'd add in something like, but for the last payment, we'll do it over dinner and I'm buying.

A perk for him and a great way to commemorate you owning the watch 100%.

s14roller · 12 July 2015, 11:10 PM

Sounds fine. Just make sure you pay him at the due dates or earlier.

Old Expat Beast · 12 July 2015, 11:12 PM

Quote:

Originally Posted by xeal

Yeah was thinking the same.
Also feels nicer not seeing your account take the whole hit, but still owning the watch!
I think I sense an incoming thread in a few weeks.

You won't really own it till it's paid off. I'd just pay up front. Depending on the price.

watchwatcher · 12 July 2015, 11:14 PM

It does sound like a very kind, reasonable offer...but my only concerns would be:

What is the price (as previously stated)
The old rule about not doing business with family

Otherwise, sounds good. Good luck,

landroverking · 12 July 2015, 11:27 PM

Yes I would.

beer · 12 July 2015, 11:35 PM

I am wondering if this offer is distracting you from the price

As little as $200 off the price would leave you better off financially than the loan (unless you put the money into insecure investments (stocks etc.) which I would not do with loaned money), and you would not spend the next 6 months feeling indebted (literally and morally)

Naz737 · 12 July 2015, 11:38 PM

Quote:

Originally Posted by old expat beast

you won't really own it till it's paid off. I'd just pay up front. Depending on the price.

x2

liuk3 · 12 July 2015, 11:43 PM

What's the price and do you get the watch upfront or do you have to wait until it is paid off to get it? If you get the watch upfront then there's no risk to you since you are getting the asset, and he has no guarantee that you will pay on time.

Jake B · 12 July 2015, 11:44 PM

What I say might be against the grain here I don't go into debt for any reason, especially not a luxury item. Ever.

I won't go into the political or idealogical reasons that I have for this way of thinking, but no...no borrowed anything.

Mr. K · 12 July 2015, 11:48 PM

Price is difficult among family and friends. Anytime I have sold anything that way I always dump at a VERY good price and feel obligated to make sure it continues to run well.

But at that point to me, it is not about the $ but about the relationship.

Tseg · 12 July 2015, 11:49 PM

One rule always told me by my parents and grandparents... never borrow (or lend) money from/to relatives. If you can't give it to them, don't give it to them. If they then decide to reimburse you or return the favor its on them, no strings attached and no expectations.

So no, I would not do it.

Lpugliese · 13 July 2015, 12:33 AM

Sounds fair

Dubarzy · 13 July 2015, 01:30 AM

I would pay it all up front since it is a family member. Nice gesture on his part and no reason not to since you have the cash on hand.

WatchinMD · 13 July 2015, 01:35 AM

The interest on short term money wouldn't be worth the hassle of making monthly payments. I would just by it outright and have it be unequivocally yours from the beginning.

jctrolex · 13 July 2015, 01:38 AM

I would ask if there is a discount if I paid up front assuming it's a decent price to start with. I live by 2 rules: never borrow money for non essential items like toys or luxury goods and never do business with relatives.

joejeweler · 13 July 2015, 01:46 AM

Quote:

Originally Posted by Old Expat Beast

You won't really own it till it's paid off. I'd just pay up front. Depending on the price.

REALLY,......?

I bet you RENT!

Quote:

Originally Posted by jctrolex

I would ask if there is a discount if I paid up front assuming it's a decent price to start with. I live by 2 rules: never borrow money for non essential items like toys or luxury goods and never do business with relatives.

Um,....do you want to be known as the "cheap-skate" seeking even better "family" pricing? (we assume seller was ALREADY giving you the family discount)

yld2rob · 13 July 2015, 02:00 AM

Why not?

12 July 2015, 08:24 PM	#1
xeal "TRF" Member Join Date: Jan 2015 Location: In a bubble Posts: 379	Interest free instalments to fund a watch. Would you take it? Would you personally prefer this method? Basically a cousin of mine wants to sell his BLRO. I have considered buying it off him. He has offered to make the payment method easier on me if I like. Basically to pay him 50% of his asking price up front, and the rest 10% each every month. No interest on it, but just to help me out. I do have the cash, but my account takes less of a hit, and I don't really "feel" a huge amount coming out of the account this way. Would you do it?

12 July 2015, 11:43 PM	#21
liuk3 "TRF" Member Join Date: Dec 2011 Location: Los Angeles Posts: 3,347	Interest free instalments to fund a watch. Would you take it? What's the price and do you get the watch upfront or do you have to wait until it is paid off to get it? If you get the watch upfront then there's no risk to you since you are getting the asset, and he has no guarantee that you will pay on time. __________________ "Appreciate your life!"

12 July 2015, 11:44 PM	#22
Jake B "TRF" Member Join Date: Apr 2011 Location: Hong Kong Watch: Gold Sub 116618LN Posts: 2,820	What I say might be against the grain here I don't go into debt for any reason, especially not a luxury item. Ever. I won't go into the political or idealogical reasons that I have for this way of thinking, but no...no borrowed anything. __________________ Things are more like they are now than they ever were before.

13 July 2015, 02:00 AM	#30
yld2rob "TRF" Member Join Date: Oct 2012 Real Name: Rob Location: Penna Watch: Rolex Posts: 1,656	Why not? __________________ Rolex Sub-126610LV Rolex Sub- 126613LB Rolex GMT BLRO 126710 Rolex GMT BLNR Rolex Datejust 16220

12 July 2015, 08:30 PM	#2
superstarmar Banned Join Date: Jun 2015 Location: In Motion Watch: my wrist presence Posts: 7,436	Why not ? Seems fair enough ... Plus in about 6 months or so it'll be paid in full... Go for it !!! Beautiful watch too ...

12 July 2015, 08:37 PM	#4
xeal "TRF" Member Join Date: Jan 2015 Location: In a bubble Posts: 379	Meant to post this on the Rolex section. My mistake..

12 July 2015, 09:01 PM	#5
kilyung 2024 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,873	Kind offer

12 July 2015, 09:04 PM	#6
MonBK Banned Join Date: Nov 2010 Location: Kingstown Posts: 58,281	Fre money, sure I would.

12 July 2015, 09:13 PM	#7
brandrea 2024 Pledge Member Join Date: Jul 2013 Real Name: Brian (TBone) Location: canada Watch: es make me smile Posts: 74,249	Sounds fair to me, very nice of him to help make it easy for you.

12 July 2015, 09:52 PM	#8
lapince "TRF" Member Join Date: Jun 2013 Location: Mars Watch: 5712 Posts: 11,509	Well that depends on the price, can't say yes or no without knowing the price he's asking...

12 July 2015, 10:36 PM	#9
Melvin_arnold "TRF" Member Join Date: Oct 2014 Real Name: Melvin Location: Sydney Watch: TV Posts: 392	That's a good deal IMHO

12 July 2015, 10:38 PM	#10
AK797 Banned Join Date: Feb 2010 Real Name: Neil Location: UK Watch: ing ships roll in Posts: 59,278	Yeah, as he's your cousin you should be able to work things out should anything affect the schedule.

12 July 2015, 10:45 PM	#11
Muzz "TRF" Member Join Date: Mar 2014 Real Name: Steve Location: TO CAD, HCMC VN Watch: MP 18946 Posts: 7,292	Sounds decent providing the price is reasonable. You would also be helping him out as well. Just make sure the deal is not one sided and you should be good!!!

12 July 2015, 10:46 PM	#12
dysondiver "TRF" Member Join Date: Jul 2010 Real Name: tom Location: northern ireland Watch: my fins Posts: 10,063	win win , if the price is reasonable.

12 July 2015, 11:07 PM	#14
Mr. K "TRF" Member Join Date: May 2005 Real Name: Mark Location: Seattle-ish Posts: 6,035	Sounds fair. I'd add in something like, but for the last payment, we'll do it over dinner and I'm buying. A perk for him and a great way to commemorate you owning the watch 100%.

12 July 2015, 11:10 PM	#15
s14roller "TRF" Member Join Date: Jul 2011 Location: US Posts: 3,246	Sounds fine. Just make sure you pay him at the due dates or earlier.

12 July 2015, 11:14 PM	#17
watchwatcher "TRF" Member Join Date: Jan 2009 Real Name: Larry Location: Kentucky Watch: Yes Posts: 34,547	It does sound like a very kind, reasonable offer...but my only concerns would be: What is the price (as previously stated) The old rule about not doing business with family Otherwise, sounds good. Good luck,

12 July 2015, 11:27 PM	#18
landroverking "TRF" Member Join Date: Dec 2008 Real Name: Jay Location: TEXAS Watch: Daytona Posts: 7,648	Yes I would.

12 July 2015, 11:35 PM	#19
beer "TRF" Member Join Date: May 2015 Location: Watch Dealer atm! Watch: all Posts: 2,800	I am wondering if this offer is distracting you from the price As little as $200 off the price would leave you better off financially than the loan (unless you put the money into insecure investments (stocks etc.) which I would not do with loaned money), and you would not spend the next 6 months feeling indebted (literally and morally)

12 July 2015, 11:48 PM	#23
Mr. K "TRF" Member Join Date: May 2005 Real Name: Mark Location: Seattle-ish Posts: 6,035	Price is difficult among family and friends. Anytime I have sold anything that way I always dump at a VERY good price and feel obligated to make sure it continues to run well. But at that point to me, it is not about the $ but about the relationship.

12 July 2015, 11:49 PM	#24
Tseg "TRF" Member Join Date: Apr 2014 Real Name: Tom Location: World Traveler Watch: GMT Master II BLNR Posts: 1,583	One rule always told me by my parents and grandparents... never borrow (or lend) money from/to relatives. If you can't give it to them, don't give it to them. If they then decide to reimburse you or return the favor its on them, no strings attached and no expectations. So no, I would not do it.

13 July 2015, 12:33 AM	#25
Lpugliese "TRF" Member Join Date: Feb 2012 Real Name: Lance Location: Nashville, TN Watch: rolex Posts: 1,076	Sounds fair

13 July 2015, 01:30 AM	#26
Dubarzy "TRF" Member Join Date: Mar 2015 Real Name: Wesley Location: Austin Watch: 214270 Posts: 630	I would pay it all up front since it is a family member. Nice gesture on his part and no reason not to since you have the cash on hand.

13 July 2015, 01:35 AM	#27
WatchinMD "TRF" Member Join Date: Sep 2014 Real Name: Larry Location: Maryland Watch: Saxonia Moonphase Posts: 3,428	The interest on short term money wouldn't be worth the hassle of making monthly payments. I would just by it outright and have it be unequivocally yours from the beginning.

13 July 2015, 01:38 AM	#28
jctrolex "TRF" Member Join Date: Jan 2011 Location: Canada Watch: 1675 Posts: 1,162	I would ask if there is a discount if I paid up front assuming it's a decent price to start with. I live by 2 rules: never borrow money for non essential items like toys or luxury goods and never do business with relatives.

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