What if authorized watch store offer lease or other payment plan?

[charlieboy89]

I agree with the majority. Watch leasing is a bad idea.

Let alone financing. I don't think many would pay msrp price.

If a shop offers financing on used watch with 0% interest at fair market price it maybe a different story

[92gli]

I had a friend wanting to buy a BMW and the seller wouldn't budge at his $40k asking price. When my friend came back with crisp $100 bills the guy's eyes lit up and he got the car for $30k.

Right, was this the dealership the guy in Scarface owned ? Reputable car dealerships don't want to handle large amounts of cash. It's a liability and cash reporting regulations post 9/11 make any funny business almost impossible. And there isn't 25% markup in any new car.

[Protest]

Right, was this the dealership the guy in Scarface owned ? Reputable car dealerships don't want to handle large amounts of cash. It's a liability and cash reporting regulations post 9/11 make any funny business almost impossible. And there isn't 25% markup in any new car.

I'm pretty sure if it's in the ordinary course of business, and the transaction is not really unusual than it isn't that much of a hassle. I know my brother paid around $25k in cash for his car, and the dealer was fine with it. I believe the cutoff for the red flags is $10k, and I'm sure if you sell expensive cars people put around that much down regularly.

[novedl]

I don't believe in "leasing" anything. You can either afford it, or you can't. I have "financed" a car, and partially financed a watch years ago, but at the end of the day I own it. I won't rent a car, home, watch, whatever. It's just throwing money down the drain on something that you don't even get to keep.

Leasing a watch is at best a real head scratcher, but renting a car can be advantageous. We fly everywhere and when my family arrives at our destination having a rental in waiting just seems convenient.

[TheWalrus]

I'm pretty sure if it's in the ordinary course of business, and the transaction is not really unusual than it isn't that much of a hassle. I know my brother paid around $25k in cash for his car, and the dealer was fine with it. I believe the cutoff for the red flags is $10k, and I'm sure if you sell expensive cars people put around that much down regularly.

There's still a big difference between buying a car outright (or colloquially put "in cash", as opposed to credit) versus buying a car WITH cash - which is to say walking into the dealer with $40 000 in hundred dollar bills. I think most reputable businesses (all, even) would be resistant and taking on that much cash. I can't think of any that wouldn't let you simply write a check or transfer money between accounts.

[Watchbreath]

Not all the time.

Like anything, if you pay CASH you will get the best deal. You have more negotiating power because the seller will have the money in hand usually during the transaction with fewer hiccups and less of a hassle. So you can usually talk the price down due to the fact that the seller will have the money in hand sooner. If you financed anything the price is more than likely going to be fixed and to lease a watch is absolutely absurd. You will throw away a ton of money before it's yours. Only people looking for false sense of a status symbol would do such a thing. Financing a watch is ok only if you get 0%. But even then, you lose your negotiating power due to the long amount of time the seller will get his funds so instead of saving hundreds of dollars, your paying regular price.

I had a friend wanting to buy a BMW and the seller wouldn't budge at his $40k asking price. When my friend came back with crisp $100 bills the guy's eyes lit up and he got the car for $30k.

[Monocrom]

I just saw a car commercial, wondering....How come watch store doesn't offer lease or other payment plan for watches over 10K?
Some watches are 20K, 30K, 100K which price already way above a of Honda Civic or Toyota Yaris.

$10,000 will buy you a very nice watch. But it will buy you at best, a decent used car. Anyone who can actually afford a 10K, 20K, or 100K watch can afford to pay for the timepiece outright. Anyone who has to use a payment plan in order to put a 10K watch on their wrist, genuinely cannot afford it; and has no business looking at such watches. (Other than to try them on, just to experience the feeling of wearing such a watch.)

[napel]

Most car dealers make money off of the financing, so taking 25% off the purchase price for paying cash is HIGHLY unlikely. Sorry, man, but I think your friend was pulling your leg.

Saw it with my own eyes. I took him to pick it up. Wasn't new but damn near new. After seeing that I did the EXACT same with my Land Rover and the Lexus. Not only that, when we bought our house, we offered more than the guy that bought it with CASH. Couldn't compete as I don't have that much cash laying around. The House is the ONLY thing that we have financed because too much savings when you shell out cash, furniture, cloths you name it. Money talks

[Monocrom]

Most car dealers make money off of the financing, so taking 25% off the purchase price for paying cash is HIGHLY unlikely. Sorry, man, but I think your friend was pulling your leg.

When I bought my sports sedan, the new car market was in the toilet. Got so bad 3 1/2 years ago that dealers were raising prices on used cars since demand had gotten much bigger, while supply stayed pretty consistent.

The sales lady was polite but apathetic and distant when I first walked in. (Only reason why she got the commission is because she was the only one to acknowledge me as I was standing by the front door.) When I made it clear that I was a serious new car Buyer who had checked his finances before walking in, that got her attention a bit. When she learned that my idea of a down-payment was over half the cost of the car and, "A thick envelope filled with cash." That really got her to perk up. It also got me a sweet reduction on the price.

It's simple . . . If someone said I'll give you $500 now, or $1000 over the course of a year; which one would you take? Some might say they'll wait over the course of a year. Okay. That's what some would do. Let's say you're short on funds and need to pay your bills right away. All of a sudden, that $500 now becomes the better deal. Same thing with the new car market about 3 1/2 years ago. When you're practically starving, a cold ham & cheese sandwich NOW, is far more appetizing than a steak dinner a week from now.

Cash is still King. And if you've got it in hand, you can definitely get a better deal.

[napel]

There's still a big difference between buying a car outright (or colloquially put "in cash", as opposed to credit) versus buying a car WITH cash - which is to say walking into the dealer with $40 000 in hundred dollar bills. I think most reputable businesses (all, even) would be resistant and taking on that much cash. I can't think of any that wouldn't let you simply write a check or transfer money between accounts.

That isn't necessarily true. I know a lot of high end places that will welcome the cash. You think if I go into a Patek Philippe AD with $50k cash they'll turn me away? I am sure the armed security guard that opened the door for me will gladly take it even if it's in a briefcase, brown paper bag or if I had 5 stacks tucked away in my pants. Again, I have seen people come in places with silver and gold bullion and make transactions.

Look at it this way, people on this site are always complaining about the Paypal and Ebay fees and the delays for sellers to get their funds. Retailers go through the same headaches and cash makes some transactions that much easier so why not give a substantial discount to avoid the drama.