The Breitling Watch Source Forums

It's not the subject. Have an awesome day.

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SHARKMAN

Thanks man, I am having a pretty awesome day so far. The weather could be a little better, but all in all I can't complain.

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NAVITIMER WORLD (SILVER)
PATEK PHILIPPE 5980 (BLACK)

My process exactly

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Breitling Navitimer 01 LE

Same here. I would never finance it. I find the whole idea of financing a luxury product completely ridiculous. If you can't afford it, don't buy it.

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life's too short and you only live once

Well im afraid some of us arnt rich enough to drop 4 grand at once on a watch, what a f****** snob you are.. get over yourself

Take it easy, it's not that serious.

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NAVITIMER WORLD (SILVER)
PATEK PHILIPPE 5980 (BLACK)

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Really annoys me that though. I work hard every day so why shouldnt I be allowed to have the nice things that I want? I thought this forum was for help and and friendly advice about your Breitling. Not to be told you dont deserve to have it !

I didn't get the impression VicLeChic was saying you didn't deserve to buy a nice watch. I think he was just saying that he personally doesn't understand the concept of financing a luxury item. It's just his opinion, and ultimately this whole place is built on people's opinions. Some we agree with and some we don't, so don't take it as a personal attack.

Personally I've bought watches out-right, and I've also financed watches on 0% in the past and have no problem with it at all. My rationale (as I think one of my earlier posts states), is that I could either save up and buy it eventually provided it's not discontinued, or spend exactly the same money (that I would've being saving up) financing a 0% deal and have it now. At 0% it costs exactly the same in the end - it's merely a timing thing. Some people may agree with that, and some may disagree : either way I couldn't care less.

I work in Finance and have a background in Economics, so I'm more than capable of balancing my chequebook, and I know what I can and can't afford, so for me 0% finance just is a mechanism to smooth timing issues. Provided people understand that, and aren't so daft as to think it's some kind of "free money" that never needs to be paid back, then there's no problem at all IMO.

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Driver8

Site Moderator

Agree with Diver 8. I have an MBA and work on Wall Street.......I work in insurance not Investment banking but I do ok and get a pretty good bonus every year. I got a 24 month 0% interest deal om my SA. The salesmen said so do you want to use your money or ours.........I had the cash but took the 0% interest deal. I am paying it off much faster than the 195 a month but this is a no brainier even with interest rates low. I also agree that this forum is here so we can voice our opinions. The member that says you should only pay cash for luxury items has no idea how many Bentley's and Mercedes are leased or financed. Opportunity cost especially for the wealthy makes financing a good decision because you can use others money and make more with the capital that you do not use by investing it and making a higher return. My clients are Private Equity firms and they make 20-30 percent returns so they want to leverage as much as possible, which is much less after the mortgage debacle! But paying cash means you own it and that has a feeling all it's own and I understand that approach.

Credit like anything can be abused and it always will be and no one will ever stop it. you can buy watch even if it you finance not it is not 0 % deal, if you can afford the payment and that is what you want to spend you money on go for it.....Your wrist, your money enjoy your watch. I have seen people spend 1700 a month on a luxury car and live in a 600 a month apartment. They could afford a house and it is not how I roll but its their money.........sorry for the ramble but no one has to read it! Finis!

I would finance it if they gave me 0%, for sure.

If one was smart and interested in profiting from such an opportunity, they could put their cash into the bank in some form of interest creation, and using the stores money @ 0% to have their watch, thus profiting from the loan and subsiding their purchase, potentially partially offsetting their loss in the future sale of said watch.

I don't believe in interest, so I wouldn't do it myself, but I would just keep my cash on hand just in case I needed it and take the 0% loan. I traded my BMW in on a Chevy just for the 0%. How can you pass up 0%?

If you ask for people's opinions on a public forum, be prepared to hear things you might not like, without insulting if at all possible...?

I'm not rich myself and I work hard for my money. I happen to work in a bank, and if you were my customer, I would finance you anything you'd like, provided you have a steady income and generate an excess after paying for all your bills and regular cost of living. You probably know that banks make a living out of financing, among other things.

What I meant was this: why would you pay someone interest for something you don't really need, like a luxury product? Unless you really need it, why pay 8%, 10% or even 25% on top of the asking price, just to be able to "afford" it over time? It's not a house, or a car you need to go to work. Just calculate how much money you are giving away every month in interest and then decide if it's worth it. Like other forums members have said before, perhaps try and bargain for a 0% interest with the shop, the sweetest deal ever.

It's just my opinion of course, as a friend, not as a banker. If you feel differently I respect that. If you find it reasonable to pay interest to get a nice time piece for all your hard work, then go for it. But why wouldn’t you save money first and buy it when you can afford it? That beautiful watch you’ve been dreaming about is probably well worth the wait. I personally find that like many things in life, the waiting is part of the pleasure.

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life's too short and you only live once

Watch depreciation is inversely proportional to the pleasure of owning it over time. This is also called "time value of a watch". The limit is: by the time the watch is worth 0, your pleasure has grown exponentially to become nothing less than infinite, which is when you are fully in touch with the cosmos and all the beings around you.
VicLeChic

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life's too short and you only live once

Absolutely correct forgot about that theory from my MBA classes. TVW is an sub set of NPV only with an inverse exponential component applied to the implied perceived value!! all kidding aside the real value of watch is how much you love it! I am staring at mine right now Awesome!

I always buy used on high end watches, much like my cars I let the first owner take the hit and I will buy it from a enthusiast!

Cars = Finance (Heloc, Interest Write-off )
Watches = Cash
Motorcycles = Cash
Boat = Never Lol

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Suunto Vector
Suunto Core (Red)
Omega Seamaster Professional (Quartz)
Movado Bracelet
Suunto X10 Mi
Suunto D9 Ti
Gucci 5200 M
Breitling Navitimer Montbrillant Datora (Havana)