"Class A" and "Class B" CW customers?

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Re: "Class A" and "Class B" CW customers?

Post by robinbarke »

It would be virtually impossible to enforce a credit agreement if the debtor lived outside the UK. CW is right on this issue.

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Re: "Class A" and "Class B" CW customers?

Post by triffidman »

robinbarke wrote:It would be virtually impossible to enforce a credit agreement if the debtor lived outside the UK. CW is right on this issue.

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Re: "Class A" and "Class B" CW customers?

Post by DISJT »

I think it will lead to even more watch touts.

Can now buy up all the stock in the sale on 0% finance and return them if they don't sell after 30 days and not have to spend any more than the 20% deposit which you'll get back.
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Re: "Class A" and "Class B" CW customers?

Post by Theprincipal »

robinbarke wrote:It would be virtually impossible to enforce a credit agreement if the debtor lived outside the UK. CW is right on this issue.

Robin
This should be extremely obvious to everyone... why is this an issue?

Go on a vacation to any country other than your home and try to get a loan...
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Re: "Class A" and "Class B" CW customers?

Post by what-time-is-it »

DISJT wrote:I think it will lead to even more watch touts.

Can now buy up all the stock in the sale on 0% finance and return them if they don't sell after 30 days and not have to spend any more than the 20% deposit which you'll get back.
I've not checked the t & c's, but I assume any finance is secured to the watch, so in theory you can only sell the watch or watches once the credit has been cleared off. If it's unsecured then no issues other than credit checks, eligibility, payments etc

It's not for me, but I'm sure it will help some genuine buyers get on the ladder.
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Re: "Class A" and "Class B" CW customers?

Post by Thermexman »

DISJT wrote:I think it will lead to even more watch touts.

Can now buy up all the stock in the sale on 0% finance and return them if they don't sell after 30 days and not have to spend any more than the 20% deposit which you'll get back.
Indeed. A good point. One person could tie up the entire sale stock by putting it into the basket and then awaiting credit approval. His buying power has, effectively increased fivefold.
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Re: "Class A" and "Class B" CW customers?

Post by what-time-is-it »

Buying in bulk would only be a benefit in sales periods when the price is marked down say 50% - if you were buying multiples of the bronze Trident for instance you would only be able to use one voucher code, unless you made multiple applications which wouldn't be recommended.

If you buy in bulk in a sale, you also need to accept that perhaps the item has sold out by the time of credit acceptance and we also know website stock management can be poor.

In summary if you purchased lets say 20 items on HP, I'd be amazed if the order would go smoothly!
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Re: "Class A" and "Class B" CW customers?

Post by gaf1958 »

what-time-is-it wrote:... but I assume any finance is secured to the watch, so in theory you can only sell the watch or watches once the credit has been cleared off.
Can that really be the case? If it can, that would mean we'd need to ensure that any CW we buy pre-owned is not under finance... and I have no idea how that's going to be done.

I'm betting the credit debt is against the person, not the watch for one simple reason. CW take a 20% deposit, leaving 80% of the value outstanding. Yet CW have set the benchmark for used value at 30% off with their Nearly New pricing, meaning the value of the watch is immediately less than the value owed. That makes me think the debt is not secured against the watch... :)
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Re: "Class A" and "Class B" CW customers?

Post by what-time-is-it »

I've never purchased a watch on finance, but have seen plenty of other brand watch owners mention that it's finance clear and on some occasions even show the settlement letter on ebay.

I can't see anything on the CW website about what type of finance it is, but perhaps someone else can enlighten us?
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Re: "Class A" and "Class B" CW customers?

Post by FloridaPhil »

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Re: "Class A" and "Class B" CW customers?

Post by Zzorro »

what-time-is-it wrote:I've never purchased a watch on finance, but have seen plenty of other brand watch owners mention that it's finance clear and on some occasions even show the settlement letter on ebay.

I can't see anything on the CW website about what type of finance it is, but perhaps someone else can enlighten us?
Same here, never purchased a watch on finance. And i am not planning to do so.
I won't lend some money for a hobby, only for buying a house.
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