CW Financing Option

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CW Financing Option

Post by TP Fit » Fri May 03, 2019 3:55 am

Occasionally, but accidently I have searched the UK website and ran into the 0% interest finance option and got excited..end result, dismay.
Realizing I was on the UK website. I was interested in finding out how many of you take advantage of this free financing and how often it affects your spending habits on the CW website. For me, I would have already bought my second watch, and perhaps 3rd if this was an option. Unfortunately, this is only offered to UK residents. I am just curious if CW has considered giving some type of other financing options outside of the UK. I know one of the goals of CW is to expand into the US, an untapped market. I just figured if it would impact my spending then maybe it would for other US CW fans...just a thought. Obviously, even finance with the normal cost of interest or having some other outside vendor manage it for them. I just think if, CW intends on expanding their global market, then they should perhaps treat or offer some type of options to them as well.

Cheers!

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Re: CW Financing Option

Post by Laird » Fri May 03, 2019 8:17 am

Do you qualify for PayPal Credit - they offer 6 months interest free in the USA I believe - only 4 months in the UK ...
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Re: CW Financing Option

Post by TP Fit » Fri May 03, 2019 8:20 am

I wasn't aware that PayPal extended credit, I will look into it soon. Thank you for the suggestion!

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Re: CW Financing Option

Post by TigerChris » Fri May 03, 2019 12:36 pm

I try not to use credit at all unless an absolute emergency. Where luxury items are concerned I only buy if I can afford to pay for it there and then. I would never buy a watch on credit.

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Re: CW Financing Option

Post by H0rati0 » Fri May 03, 2019 12:57 pm

TigerChris wrote:
Fri May 03, 2019 12:36 pm
I try not to use credit at all unless an absolute emergency. Where luxury items are concerned I only buy if I can afford to pay for it there and then. I would never buy a watch on credit.
Agree entirely. This worldwide credit binge will end in tears.
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Re: CW Financing Option

Post by Essex Paul » Fri May 03, 2019 1:16 pm

I used it when buying my CW.
As it was best part of £1600 and have disposable income every month I could've either saved up for it OR enjoy it now and pay monthly.
I’m 6 months in and hardly notice it. Think for that amount it’s well worth it, no brainier.
If I had £1600 spare at the end of the month I obviously wouldn’t have done it.
Will I do it for my next CW at around £700? Dunno, probably yes.
My mate has a Rolex on 3 year 0% and obviously can afford payments. He’s halfway through and forgot all about it. He’ll have 3 years joy from wearing it whereas he’d have had to save for 3 years. Then find the price would’ve increased.
Not for everybody but a great way to own a nice watch.
If you're lucky to have hundreds left over every month then no, not for you. Hopefully CW can get a tie in with a US finance company and offer the same. :thumbup:
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Re: CW Financing Option

Post by johnnysharp2 » Fri May 03, 2019 1:50 pm

If it's 0% and someone would prefer to spread the cost rather than have one big outlay then I don't see why not.
It is a useful option CW offer that might suit some people better.
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Re: CW Financing Option

Post by McDaWisel » Fri May 03, 2019 2:28 pm

I would use 0% credit for larger purchases for sure, specially for cars it’s a great option if you understand the maths behind it. For luxury items I would use it too, but items only if I had the money in the bank. I doesn’t feel right to me to buy a watch on credit if I didn’t have the money.

Even if you have the 1600 £, put it into a savings account and pay off the loan from the savings account. At least you get the interest. Fair enough, you will make about 20 £ of interest over 3 years. I have done that a bit for cars as well. Take out 0% loans even though he money was there. For larger amounts the interest of course adds up to something a little more interesting! (Not telling you to buy a more expensive watch btw :-))

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Re: CW Financing Option

Post by TigerChris » Fri May 03, 2019 3:40 pm

McDaWisel wrote:
Fri May 03, 2019 2:28 pm
I would use 0% credit for larger purchases for sure, specially for cars it’s a great option if you understand the maths behind it. For luxury items I would use it too, but items only if I had the money in the bank. I doesn’t feel right to me to buy a watch on credit if I didn’t have the money.

Even if you have the 1600 £, put it into a savings account and pay off the loan from the savings account. At least you get the interest. Fair enough, you will make about 20 £ of interest over 3 years. I have done that a bit for cars as well. Take out 0% loans even though he money was there. For larger amounts the interest of course adds up to something a little more interesting! (Not telling you to buy a more expensive watch btw :-))
I have to admit that I have done it that way with certain things in the past but, with interest rates how they are now, I just can’t be bothered for the little return and pay up front.

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Re: CW Financing Option

Post by TP Fit » Fri May 03, 2019 3:54 pm

I agree, with the 0% option. No interest, why not? I am not a big fan of getting in debt but this is a short term solution not a long term commitment for thousands of dollars. I do have the money, but its nice to keep some of it for other things as well. Thanks for everyone's input.

Cheers!

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Re: CW Financing Option

Post by TigerChris » Fri May 03, 2019 4:15 pm

TP Fit wrote:
Fri May 03, 2019 3:54 pm
I agree, with the 0% option. No interest, why not? I am not a big fan of getting in debt but this is a short term solution not a long term commitment for thousands of dollars. I do have the money, but its nice to keep some of it for other things as well. Thanks for everyone's input.

Cheers!
Out of ‘interest’, which model are you looking at?

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Re: CW Financing Option

Post by nbg » Fri May 03, 2019 5:51 pm

H0rati0 wrote:
Fri May 03, 2019 12:57 pm
TigerChris wrote:
Fri May 03, 2019 12:36 pm
I try not to use credit at all unless an absolute emergency. Where luxury items are concerned I only buy if I can afford to pay for it there and then. I would never buy a watch on credit.
Agree entirely. This worldwide credit binge will end in tears.
I reckon you are correct Nick.

One in particular that I think will end in tears is PCP for cars.

Neil
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Re: CW Financing Option

Post by Amor Vincit Omnia » Fri May 03, 2019 6:10 pm

Nothing wrong with 0% as long as you can afford the payments. I did once buy a watch on that basis back in 1993, but probably wouldn’t do so these days.

On the other hand, I have been doing PCP for many years. It has probably cost me a bit more in the long run, but in the last 17 years I have never had to shell out for a new tyre, brake job, exhaust or MOT. Plus I get to drive a nice new car around every three years. I’m not an ardent motorist and I don’t buy mega expensive cars – they are a convenience to get me in comfort from A to B. So I quite like the idea.
Steve
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Re: CW Financing Option

Post by TP Fit » Fri May 03, 2019 6:27 pm

Sorry Tiger Chris, excuse me for being a newbie and not knowing how to quote/reply back to you. Now that I know PayPal offers a short term no interest plan, I will go with that option. Generally, I agree with everyone on the credit, if I don't have to I won't. Thanks for asking.

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Re: CW Financing Option

Post by Bahnstormer_vRS » Fri May 03, 2019 6:28 pm

Sometimes it's good to have the occasional Finance Agreement to keep your Credit Rating / Score / Profile ticking over.

If you can afford the repayments, even if you have cash in the bank, it can make good sense; even more sense with 0%.

Guy

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