First time buyer requires ££ advice

[jasonsensation]

I'm looking for some advice! I have the opportunity to get a Black Ceramic GMT on Interest Free Finance over 2 years, with only a 10% Deposit. Now another ''up'', is also the fact the Authorised Dealer is not keeping the warranty/papers etc.
My overall Goal is to own the much sought after GMT Batman, however it would mean placing a deposit with a different store, and i would need to take out a Personal loan resulting in paying back huge amounts of interest. At what point is it better to buy the black ceramic now, and be content with that instead of getting the Batman and probably end up paying back £1,500 in Interest over 5 years.

[beshannon]

It is better to get the watch you want the most.

How you are able to do that is up to you although most here would advise against borrowing to finance high end luxury jewelry with interest.

[schoolboy]

Hello

Is it safe to assume that the store with the Batman doesn't offer free finance over a year or two???

I hope other people chime in....

I myself, wouldn't buy a watch that I'm not absolutely happy with. At the end of the day you're going to spend a lot of money on the black gmt, and it's not really something you want, since it's the Batman that you're after.

I wonder if you can wait it out to buy the Batman without having to pull out a loan. I'm not sure if they will be discontinued or anything like that, so.... that's also a tough call.

[DavidUK]

All black is cooler. Batman over-rated. Go for Black!

[jasonsensation]

Originally Posted by schoolboy

Hello

Is it safe to assume that the store with the Batman doesn't offer free finance over a year or two???

I hope other people chime in....

I myself, wouldn't buy a watch that I'm not absolutely happy with. At the end of the day you're going to spend a lot of money on the black gmt, and it's not really something you want, since it's the Batman that you're after.

I wonder if you can wait it out to buy the Batman without having to pull out a loan. I'm not sure if they will be discontinued or anything like that, so.... that's also a tough call.

I would be paying so much more back in interest if i go the route of the Batman as the store does not offer Interest free Finance, but if i take the Black GMT i'd pay no interest at all with this dealer! Part of me feels buy the Black ceramic now...

[thewolfofmiddlesex]

I agree, all black is much nicer imho .. to me it has a much more timeless look.
Re financing, consider a 0% balance transfer credit card if you really want the blue from the other AD where I presume they don't offer the 0%. Then buy it on another credit card and transfer the balance to the 0% card. There are plenty available that offer 0% over 3 years for a 3.5% (or even less) one off balance transfer fee... Considerably cheaper than a loan (about £210 fee in total over the 3 years assuming watch costs £6k). Just make sure you pay the regular payments on the CC though.

[ikincooper]

Is using an interest free credit card not an option? Might be worth considering although please be sure that you can clear it down before interest charges kick in!

[jasonsensation]

Batman total cost would be £7600 which i'd take out over 5 years. However the Black GMT would be £6,200 and i'd be paid off within 2 years.

[jasonsensation]

Originally Posted by ikincooper

Is using an interest free credit card not an option? Might be worth considering although please be sure that you can clear it down before interest charges kick in!

They are quite difficult to get in the UK. Bit like the Batman's themselves

[schoolboy]

Originally Posted by jasonsensation

They are quite difficult to get in the UK. Bit like the Batman's themselves

Dang haha

That was going to be my next suggestion.

This one is tough OP.

[jasonsensation]

I want a Batman, but i'm not paying £1,100 in interest when i can get a Black GMT tomorrow, on interest free Finance.

[jasonsensation]

Another thing is, shall i wait until after Baselworld? If the Coke finally gets released. There will be bountiful amounts of Batmans haha

[adg31]

Originally Posted by jasonsensation

Batman total cost would be £7600 which i'd take out over 5 years. However the Black GMT would be £6,200 and i'd be paid off within 2 years.

Then you'd flip the GMT NR for the BLNR and end up paying even more.
Go for the one you want - it's cheaper in the long term and you get what you want sooner!
Just my £0.02:)


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[hannism]

Originally Posted by jasonsensation

Batman total cost would be £7600 which i'd take out over 5 years. However the Black GMT would be £6,200 and i'd be paid off within 2 years.

Jason, I was in a similar situation.

I talked to my AD on Saturday, and he had the Black Bezel GMT, but not the Batman.

The cost difference for me was $500.

I said I'd wait for the Batman, which came in today.

However, as much as I prefer the Batman, if I was in a similar position to you, I would get the black GMT and call it a day at the deal you are getting.

YMMV, but business wise, getting the black bezel makes more sense.

[hannism]

Originally Posted by jasonsensation

Now another ''up'', is also the fact the Authorised Dealer is not keeping the warranty/papers etc.

This is the only thing that bothers me.

[jasonsensation]

Originally Posted by hannism

Jason, I was in a similar situation.

I talked to my AD on Saturday, and he had the Black Bezel GMT, but not the Batman.

The cost difference for me was $500.

I said I'd wait for the Batman, which came in today.

However, as much as I prefer the Batman, if I was in a similar position to you, I would get the black GMT and call it a day at the deal you are getting.

YMMV, but business wise, getting the black bezel makes more sense.

This is where the predicament is. If i go for the Batman, it'll be an extra £1,100 and the loan will be for FIVE years. If i get the GMT tomorrow, I can be paid up in 2 years, and looking to buy an explorer 1 after that, or even a car/alterations to my house

As much as i love the Batman, the black GMT seem's a better deal

[tlbarrs]

Jason if you don’t go for the Batman could you please pm where it is mate ��

[jasonsensation]

Originally Posted by hannism

This is the only thing that bothers me.

What is bothering you with that statement. I simply meant it is a positive, meaning i could in theory sell the Black GMT if i want to after a few months.

[jasonsensation]

Originally Posted by tlbarrs

Jason if you don’t go for the Batman could you please pm where it is mate ��

It isn't anywhere, i'm on several waiting lists. Who knows how long it will be, i've got a deal here for a Black GMT Interest free over 2 years. And i'm in two minds about what to do.

[DLRIDES]

I know I’m going to get flamed by this, but in my opinion, wait until you can buy and not finance .................. at any rate ! Until that time comes, you’re not ready for a luxury watch. Again, just my opinion.

[HogwldFLTR]

Interest free is OK but not for a watch you don't love. Don't compromise; save up for the BLNR and don't buy it with interest.

[jasonsensation]

Originally Posted by HogwldFLTR

Interest free is OK but not for a watch you don't love. Don't compromise; save up for the BLNR and don't buy it with interest.

It would take me years to save up the money to buy a BLNR outright. It would be a pointless exercise, shamefully

[HogwldFLTR]

Originally Posted by jasonsensation

It would take me years to save up the money to buy a BLNR outright. It would be a pointless exercise, shamefully

If you can live with the LN then OK; how much will it ultimately cost you to buy the BLNR when all is said and done?

[jasonsensation]

Originally Posted by HogwldFLTR

If you can live with the LN then OK; how much will it ultimately cost you to buy the BLNR when all is said and done?

Probably an extra £1,400. And it would be over five years, instead of two as with the Black GMT

[jps3b]

If you’re looking to spend that much on a watch, you must be a hard worker. And if you work hard, you deserve to get what you want! If you really want the BLNR, I say get it. Paying a little extra is a small price to pay for getting something you love. Life is to short to settle. I know you aren’t American, but here in the states, we finance EVERYTHING. So for me, it’s an easy choice. Good luck.

[jasonsensation]

Originally Posted by jperez3

If you’re looking to spend that much on a watch, you must be a hard worker. And if you work hard, you deserve to get what you want! If you really want the BLNR, I say get it. Paying a little extra is a small price to pay for getting something you love. Life is to short to settle. I know you aren’t American, but here in the states, we finance EVERYTHING. So for me, it’s an easy choice. Good luck.

Cheers dude! There's also the factor, i'm still waiting for a BLNR! It could be months or even years until i get offered one! Meanwhile this week i have a good offer of a Black GMT on Interest free credit

[rollee1]

Originally Posted by DLRIDES

I know I’m going to get flamed by this, but in my opinion, wait until you can buy and not finance .................. at any rate ! Until that time comes, you’re not ready for a luxury watch. Again, just my opinion.

X2

[jps3b]

Ugh! I see. Man that’s a tough decision. I guess I would get the black gmt because you never know when the BLNR will be available. Either way, they are both stunning and you can’t go wrong. If both were available, I say get the BLNR, but since they aren’t, 0% financing is a great deal. Don’t forget pics when you decide.

[Stevec14]

Originally Posted by jasonsensation

Cheers dude! There's also the factor, i'm still waiting for a BLNR! It could be months or even years until i get offered one! Meanwhile this week i have a good offer of a Black GMT on Interest free credit

Yes, but when the time comes the resale may not cover the loan. If I was you, I’d seriously not get the LN. Buying a temporary watch never works as you always think what could have been. If an extra grand is a deal breaker, maybe 6k on a watch is not the best idea. I’m not being funny, but just thinking about your comments. There are some absolutely fantastic watches for half that price (Tudor/omega etc.)

As someone who has done it however, don’t buy a watch to scratch an itch for another. It never really works, no matter what the financials.

[jrs146]

I would never recommend taking out a loan to buy a watch. These are luxury goods that should be purchased with extra funds after all other needs are met. Taking out a loan to purchase one indicates that perhaps it’s not the right time to buy one.

Just my opinion. I judge not.


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