Financing watches

mrcheatle · **Posted:** Tue Feb 22, 2011 4:53 pm

Do any of you finance your watches?

I was just curious to see if you all out there are cash/Amex buyers (which is what I personally do) or do you pay them off over time? This is just my opinion, but I never really understood financing a watch, it is not a car(even though in some circumstances cost much more than cars

)! I feel as though, if you can't afford it by paying all at once than....a) wait or b) don't get it!

I find it rather funny knowing that the guy financing the $10,0000 watch is having problem paying his bills.

I am pretty interested to see what some of you think about this and am I the only one who thinks that it is rather funny to see someone finance a watch?

This may spark a few arguments so sorry in advance :lol:

dhalem · **Posted:** Tue Feb 22, 2011 5:01 pm

Never done it, never would.

I don't finance cars either, always paid cash. The only debt I have is my mortgage.

roman4405 · **Posted:** Tue Feb 22, 2011 5:07 pm

I won't finance a watch. It's a friggin watch, I can wait. I think I'd find it more sad than funny if someone had a $10k watch and couldn't pay their bills.

Roffensian · **Posted:** Tue Feb 22, 2011 6:07 pm

Don't have a penny of debt and certainly wouldn't start with a watch.

I have left a deposit to secure a piece, but would never finance through the store or bank / credit card funding.

Novacastrian · **Posted:** Tue Feb 22, 2011 6:09 pm

I save for all of my watches with my loose change each day. Whatever's left in the pocket goes in a jar. it means i have to wait quite a while for watches, but the anticipation is actually kind of fun. i often change my mind 2 or 3 times while i save up.

sharkman · **Posted:** Tue Feb 22, 2011 6:13 pm

Finance? Yeah, i've "financed" watches for half the guys on this site.

carljones11 · **Posted:** Tue Feb 22, 2011 6:21 pm

Why yes you have Santa!

Biz · **Posted:** Tue Feb 22, 2011 6:47 pm

Straight up cash, yo. I couldn't even put the purchase of a Breiting on my credit card if I wanted to, my credit limit is too low!

mrcheatle · **Posted:** Tue Feb 22, 2011 7:14 pm

Like I previously said I am a cash buyer as well, I save for as long as it takes to get the watch i like and would never finance a watch. I recently ran into someone who does finance his watch and couldn't help but laugh. That's why I thought it would be a good topic on The Source and to hear what others do and have experienced.

Iantheklutz · **Posted:** Tue Feb 22, 2011 7:46 pm

Haven't and wouldn't. Recently try on the new Sub and, I guess because I'm young-ish(?), the AD started telling me about their financing options. It didn't sound appealing in the least. To have a watch payment...? :roll:

Beyond Man · **Posted:** Tue Feb 22, 2011 8:08 pm

"Straight Cash Homie!....When you're rich you don't write checks"- Randy Moss

RXPete · **Posted:** Tue Feb 22, 2011 8:15 pm

Cash. And as someone mentioned above, the same goes for cars.

RJRJRJ · **Posted:** Tue Feb 22, 2011 8:30 pm

Never. Thats just stupid. Financing a car, a home...no problem. We NEED those things and most people dont have the money to buy them without financing options. But nobody needs a watch that costs thousands of dollars (though im sure Superficial Archie would beg to differ), so financing one is a pretty dumb idea.

Sasho · **Posted:** Tue Feb 22, 2011 9:27 pm

Interesting topic. I put them on my credit card to get the reward points :geek:

and then pay it off completely the next day :bounce:

Now if we consider the alternative for argument sake, financing your watch, its not necessarily a bad thing. Depends on whats the opportunity cost of your cash that's laying around. In a perfect world (which we know doesn't exist) you can invest your cash wisely and it can generate a stream of monthly income which can pay for the watch over time effortlessly and after x amount of time your watch will be paid and you'll still have your principal. Especially if you can get a low interest rate on your loan and a higher rate of return on your invested cash. Of course, this is in a perfect world and you'll get to have your cake and eat it too :wink:

I personally don't do this, but who knows, might work for some people :roll:

I agree with the rest of the folks here. If you have a $10k watch and can't pay your bills, not a winning proposition which clearly depicts poor financial judgment on behalf of the buyer. Its the same when you see folks driving BMWs, Mercs, Audi's, etc and living in shacks. But then again, everyone is free to do whatever he/she wants and at the end of the day we do live in a consumption society; roughly 70% of GDP is consumption. One thing is for sure, we are not a saving society. That is what makes the world so cool. Live and let live, I guess...

Anyways, I just like thinking of alternatives. Before I make any large purchase I like to consider the different options available to me before sinking my cash in something. I have taken lots of loans depending on the interest however at any point in time I have the cash to pay them all completely if need be. In this case, no stress for me and I get to grow my cash on the side for a rainy day or something. I rarely turn down free money

Just a thought

Kid Vegas · **Posted:** Tue Feb 22, 2011 10:05 pm

A watch is the least practical thing you can buy, I have never heard of someone financing one. The same goes for TV's, furniture, etc.....but those are more need items.

Then again, scratch that. There were plenty of people a few years ago making 80k who financed 900k houses with nothing down. What's a 10k watch, just pile it on! (Yes, I'm bitter).

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