Will you ever buy a watch on long-term credit/loan payment?
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  1. #1
    Member Don Nghia's Avatar
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    Will you ever buy a watch on long-term credit/loan payment?

    Yes, Image there is a watch you dream for
    And you can get it out of your head
    But You know that you can never save enough to afford it

    And suppose a bank give you a chance to buy this watch in loan for long-term payment with an interest of about 10-19% remaining/ year ( Ebay now have this program)
    Will you buy it on long-term and monthly payment?

    I know it is risky and you have to pay more, but it will help to satisfy our dream
    Will you give in?

  2. #2
    Member bmfang's Avatar
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    That sounds like me with a GS Spring Drive Chrono. But I'd never pull the trigger this way. Saving up for the purchase is a much better way of financing it.


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  3. #3
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    Guilty...

    I wouldn't recommend it, but sometimes the heart wants what the heart wants.
    fld, WTM, brandon\ and 1 others like this.

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  5. #4
    Member al358's Avatar
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    Sure, one of my first high end watches was a Breitling Hercules that I bought on credit/12 monthly payments with Torneau. I paid it off early and did not incur any finance charges. Better to use their money than my own.:0)
    Last edited by al358; April 12th, 2016 at 05:58. Reason: typos
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  6. #5
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    No

  7. #6
    Member watch_hor's Avatar
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    IMO, luxury items should not be bought in credit.


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  8. #7
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    Don't think I could. I constantly list after "things" and I've learned the hard way. When you use math and logic, it's a no-brainer. On the other hand - you only live once.


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  9. #8
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    I feel somewhat guilty in answering since I am now to the point that wouldn't be required but even looking back into my 20s I only used credit for non-essential purchases when I was offered those 0% interest for X months offers, this actually made the purchase cheaper for me.

    I absolutely get the desire and as long as someone isn't getting in over their head I wouldn't deign to tell someone how to spend their money. I will say if you make a point to never use credit for discretionary purchases you financial life will be much more comfortable 10-20 years down the road. In the end it is the Stanford marshmallow experiment for adults.
    drhr, TLud, trf2271 and 1 others like this.
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  10. #9
    Member UberDave's Avatar
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    Hell no, I won't even allow myself to spend a significant portion of my savings on a watch.
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  11. #10
    Member cedargrove's Avatar
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    Re: Will you ever buy a watch on long-term credit/loan payment?

    No way.

    I'm surprised that anyone would buy a luxury watch at 10-19% interest - that's nuts.
    noregrets, eljay, trf2271 and 3 others like this.

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