Has anyone opened a credit card just to get a watch for 0% APR for more months than w

[Etschell]

Originally Posted by superdog

What if I need the money before the term is up?

2 month break penalty. no big deal.

[tyler1980]

Originally Posted by superdog

What if I need the money before the term is up?

its probably easier than having to sell the car, since you need the money. I personally would think of the money as gone for the term and collect the interest at the end. No different than if you paid in cash for the car and then had to get the money back but less painful.

IMO it gives you more cash flow flexibility. You still have a pot of money and monthly car payments. It gives you more time if the worst were to happen.

[superdog]

Originally Posted by Etschell

2 month break penalty. no big deal.

Interesting. I’ve heard potentially big penalties.

Either way, I do get your point. And I realize I’ve a lot to learn. I also realize I’m likely leaving a lot on the table.

But not having debt pays endless dividends to me. Truly, the peace of mind is worth it. Besides, I now put away more each month.

It works for me.

[superdog]

Originally Posted by tyler1980

its probably easier than having to sell the car, since you need the money. I personally would think of the money as gone for the term and collect the interest at the end. No different than if you paid in cash for the car and then had to get the money back but less painful.

Agree, but if I’ve got all my bills paid, no debt and a minimal monthly nut, it makes the likelihood of me needing money slim and none.

If I’m putting disposable money in investments, and using credit for items I purchase, I leave myself open to potential problems.

[Etschell]

Originally Posted by superdog

Interesting. I’ve heard potentially big penalties.

Either way, I do get your point. And I realize I’ve a lot to learn. I also realize I’m likely leaving a lot on the table.

But not having debt pays endless dividends to me. Truly, the peace of mind is worth it. Besides, I now put away more each month.

It works for me.

no debt is the way to go.

[walds11]

Originally Posted by Etschell

no debt is the way to go.

Yep, in a perfect world

[Etschell]

Originally Posted by walds11

Yep, in a perfect world

or one in which we just dont use leverage. leverage is a great thing until it isnt.

[SearChart]

I would never finance a watch, even at 0% interest.

[Etschell]

Originally Posted by SearChart

I would never finance a watch, even at 0% interest.

so what do you call working ????

[SDRider]

Originally Posted by superdog

I haven’t. I don’t like debt, for nearly any reason.

Did you pay cash for your AMG GT?

[Wahlberg]

Originally Posted by SDRider

Did you pay cash for your AMG GT?

I forgot about this.

Congrats on the AMG! That went fast.

[superdog]

Originally Posted by SDRider

Did you pay cash for your AMG GT?

I did.

Please know that I am no baller. I do not make enough to purchase a car like that outright. Not even remotely close to enough.

However, I have made a few lucky investments and they paid off for me. I also live a pretty modest lifestyle all things considered.

That said, if I could not have paid cash, I would not have bought it.

The only debt I have is for the Range which is my daily driver. I use it for business and it is a lease.

Literally everything else is paid for. Again, I am no baller. But I got super lucky with a business I started and sold 6 years later (was a hobby nights and weekends and holidays), and then lucky again a few years later with a business I bought into and was also purchased.

While I completely understand the need for a mortgage and car loan, I do not understand using debt for something that is not necessary. I don’t fault anyone for it. It is just not my style. And I believe that my “methodology” has greatly helped me in setting myself up for a relatively comfortable life.

[superdog]

Originally Posted by Wahlberg

I forgot about this.

Congrats on the AMG! That went fast.

Best purchase I ever made. It is a dream every single time I start it up.

I could not be happier with it.

[SDRider]

Originally Posted by superdog

I did.

Please know that I am no baller. I do not make enough to purchase a car like that outright. Not even remotely close to enough.

However, I have made a few lucky investments and they paid off for me. I also live a pretty modest lifestyle all things considered.

That said, if I could not have paid cash, I would not have bought it.

The only debt I have is for the Range which is my daily driver. I use it for business and it is a lease.

Literally everything else is paid for. Again, I am no baller. But I got super lucky with a business I started and sold 6 years later (was a hobby nights and weekends and holidays), and then lucky again a few years later with a business I bought into and was also purchased.

While I completely understand the need for a mortgage and car loan, I do not understand using debt for something that is not necessary. I don’t fault anyone for it. It is just not my style. And I believe that my “methodology” has greatly helped me in setting myself up for a relatively comfortable life.

That's cool. I've never paid cash for a new car personally. I usually finance them at the lowest interest rate possible. Car loans are relatively short term debt and if you can get a super low rate I figure it is better to have cash around for other things if needed than to tie it up in a vehicle.

We did use the 0% APR when we purchased my wife's Rolex in Maui last summer and we have about $2k left to pay on that so no worries there. It will be paid off before the 1 year mark. Our car loans and our mortgage is the only other debt we have. We could pay off the car loans today if we needed to and the house is worth more than twice what we owe on it. Hell, our mortgage payment is less than what you would pay to rent a 2 bedroom apartment around here.

We live a very comfortable life, have plenty of cash in the bank and assets worth well more than our lifestyle would portray. I really have no worries when it comes to money.

The AMG GT is a sweet ride. Enjoy it!

[imperio]

Originally Posted by tyler1980

personally i would rather wait until i had the cash and put it on a points earning credit card instead. You make no money on 0% interest if you are floating a free loan to yourself but you make money (in terms of CC points/miles) to pay with a non 0% reward card and pay in full.

Same!

[superdog]

Originally Posted by SDRider

That's cool. I've never paid cash for a new car personally. I usually finance them at the lowest interest rate possible. Car loans are relatively short term debt and if you can get a super low rate I figure it is better to have cash around for other things if needed than to tie it up in a vehicle.

We did use the 0% APR when we purchased my wife's Rolex in Maui last summer and we have about $2k left to pay on that so no worries there. It will be paid off before the 1 year mark. Our car loans and our mortgage is the only other debt we have. We could pay off the car loans today if we needed to and the house is worth more than twice what we owe on it. Hell, our mortgage payment is less than what you would pay to rent a 2 bedroom apartment around here.

Well, that’s the way to do it. For sure.

I’m just too anxious to change my ways. Trust me, my methodology is based on paranoia, not the idea that I know smart business. But it does work for me.

[tyler1980]

Originally Posted by superdog

Well, that’s the way to do it. For sure.

I’m just too anxious to change my ways. Trust me, my methodology is based on paranoia, not the idea that I know smart business. But it does work for me.

comfort level is all that matters

Its ironic because my methodology comes from the same paranoia but it manifests in the opposite way. I use credit cards for everything (still pay in full every month of course) but because its not my money i dont care if my card is stolen or my account gets hacked because its not my money that is gone, its the banks and im not liable. I have my cash accounts on lockdown and dont use checks or debit cards or anything with links to my actual accounts unless I absolutely have to. I like to finance at low or 0% for similar reasons, its not my money and i get to keep mine longer and i have more flexibility.

[superdog]

Originally Posted by tyler1980

comfort level is all that matters

Its ironic because my methodology comes from the same paranoia but it manifests in the opposite way. I use credit cards for everything (still pay in full every month of course) but because its not my money i dont care if my card is stolen or my account gets hacked because its not my money that is gone, its the banks and im not liable. I have my cash accounts on lockdown and dont use checks or debit cards or anything with links to my actual accounts unless I absolutely have to. I like to finance at low or 0% for similar reasons, its not my money and i get to keep mine longer and i have more flexibility.

IMO, that’s paying cash. I’ll use cards as well, for points, but I pay them off monthly or even weekly so as not to accrue debt. But I do see that as paying cash but using their medium for a sense of security and benefit.

I’m right there with you on that. Not so much on the financing part, but still very similar.

[clarajessy]

Don't let your bank balance stop you. get the personal loan for bad credit from short term credits. Apply now for the instant money you need without credit card check. Fill the quick application form and get a loan up to $ 10000.

[Etschell]

Originally Posted by clarajessy

Don't let your bank balance stop you. get the personal loan for bad credit from short term credits. Apply now for the instant money you need without credit card check. Fill the quick application form and get a loan up to $ 10000.

what is this an advertisement?

[Andad]

So I have 10k easy money sitting there in the piggy earning interest.

I want a new Rolex.

AD offers 36 months 0% interest and it is the same price as cash.

Would I give the AD my 10K interest earning cash Seth?

Or am in missing something?
.

[Etschell]

Originally Posted by directioneng

So I have 10k easy money sitting there in the piggy earning interest.

I want a new Rolex.

AD offers 36 months 0% interest and it is the same price as cash.

Would I give the AD my 10K interest earning cash Seth?

Or am in missing something?
.

at 3.5% if you are drawing it down over 36 months that is 540 of interest before tax. chop it by 30% down to $378.

now you may say I can earn more on $10k than 3.5% over 3 years, you can but you can also lose your principal.

the safer bet is you get a 2% return and then you are no better than 200 off at the end of the three year period after tax.

[Andad]

I buy the 10k Rolex at 0% over 36 months and walk out with a new Rolex and the best part of my 10K in the bank.

Or pay cash and just have the Rolex.

And this warm no finance feeling?

Your choice?

I have nothing financed and cash in the bank is king IMO.

As has been said buy the watch at 0% and skip a few coffees/day.
You would hardly need to touch your 10K.

[Etschell]

Originally Posted by directioneng

I buy the 10k Rolex at 0% over 36 months and walk out with a new Rolex and the best part of my 10K in the bank.

Or pay cash and just have the Rolex.

And this warm no finance feeling?

Your choice?

I have nothing financed and cash in the bank is king IMO.

As has been said buy the watch at 0% and skip a few coffees/day.
You would hardly need to touch your 10K.

it isnt about a warm feeling. i just am of the personal opinion that 0 percent financing deals usually back in to higher MSRP be it on cars on anything else. that said perhaps you can get the best price and 0 percent from the AD. in that event i would agree.

however, most sales people arent going to give you both. in fact they usually cite one or the other as a trade off.