Hi, just wondering what is the best way to finance an Omega watch worth $8-$11k?
Does Omega Australia offer finance ? Any thoughts ?
What's The Best Way to Finance an Omega Watch?
Comments
Hi Bob , thanks for the reply.i have enough saving now to buy the watch, but i would rather keep my cash and finance the watch anyways. I've raised the question here to see what's the cheapest way to do this.
I don't get it. Why would you pay good money for credit that you dont need for an item that you dont need?
It's like car saleman say to me "why do you pay cash for a car?"
Me: "err because I can?"
Used car salesman : "You can leave your hard earned cash in the bank to earn interest and finance the car for a lot less upfront repayment"
Me: "LMAO"
@tomleonhart: Yeah doesn't make sense, money earned in bank 2.5% Vs money paid in interest? At best the interest earned on your cash would offset the interest paid on the purchase but either you'd be better off paying cash.
Strange old world.
@tomleonhart: I listened in to a very similar conversation with an old manager:
Him: What if I bought cash, what's the best price you could do for cash?
Car Sales Guy: The listed price is the best cash price.
H: What?
CSG: Oh, yeah, it's worth more to me if I sell it to someone through finance.
@tomleonhart: Not to mention that you are likely having to pay tax on the interested earned from cash in the bank, whereas finance expense for a personal vehicle is not likely to be tax deductible.
because op wants to finance 10K interest free while his cash is earning 3% in a bank.
To be honest, I don't understand your reasoning and you seem to have thought about it already so it's not for me to judge. I know that if you buy it from a jewellery shop, they often have finance options there.
Whether or not it's cheap finance, I don't know. It's quite common for people finance things like engagement rings, etc.
Hi OP,
Not sure why so many haters - I think wanting to smooth out large expenditures for better cash flow management is perfectly acceptable.
The cheapest way to do this would be to pay for the watch with a credit card, and then balance transfer over to another credit card. There are balance transfer offers out there with interest free periods of 0% for 24 months. This means 2 years interest free to pay down your debt - subject to the credit card's annual fee.
To do this, you would firstly need to have a credit card (CC1) with an existing balance over $11k. Then, open up a new credit card (CC2) with a balance over $11k and a promotional balance transfer offer (just google to find existing offers). Once CC2 has been set up, make the Omega watch purchase with CC1, and balance transfer over to CC2, and you are done.
PM me if you need more details.
I knew financial literacy was low, but I expected better from OzBargain.
Thanks for the useful hint!
Surely this is a troll.
Have we recently appeared on some local version of 4chan?
For the record, if a watch isn’t effectively a fairly minor purchase for you, you are spending too much on it.Must be a really bad troll
Who finances a omega watch?
Either you can afford it or you can’t.
It’s not an item you finance.If you can make more than 2-3% with your cash, why not using an interest free option to but the watch? When you pay cash in advance, you are losing on the lostv opportunities, so even cash is not interest free!
Dear Ozbargain,
I want to buy a Big Mac.
what is the best way to finance this?
TIA
Mccredit
Time Payment……..
eat now pay later
Does Omega Australia offer finance ?
what did Omega say when you called them and asked?
buy a fake in malaysia
I recently had a function at Crown Casino & had a browse through Kennedy Group store afterwards. Not sure if they sell Omega watches but they sell a number of high end watches. They said they offer interest free finance.
Don't know any other details as I was just browsing with a colleague who was looking to buy a Rolex
First post that actually tried to answer the OP's question.
Thanks for pointing out the obvious
You're welcome, but I think you missed my point.
What's with the influx of these newb ozb troll postings lately
But they're not even good troll postings, they're below average at best… I haven't seen a good, blood boiling, troll post in ages… They're just (profanity) stupid.
What happened to the good old days of:
https://www.ozbargain.com.au/node/286684#comment-4346306
The best way to finance a watch would be on time payment.
Boom tish!
9/10, would've been 10/10 without the patronising bold emphasis of the punchline.
Sorry, just channeling my inner jv.
Just buy the Seiko's that are being blasted on here everyday.
There has been an unusually high amount of Seiko deals lately, so make the most of them as they have been hard to find in the past.
You first gotta have a high-yield investment car?
Then after crunching the numbers you can go to get a car wash financially.
As long as your ship isn't too tight.
Expensive watches are one of those things - if you dress nice and drive a nice car etc, even if you wear a fake copy of an expensive watch, people will assume it's the real deal.
If someone dresses like a bum and drives a shitty car, even if the watch is real, everyone will assume that the watch is fake!
And the trolls used to post how expensive an Apple watch was.
$8k-11k has to be a bargain
And the trolls used to post how expensive an Apple watch was.
Seen this $10K apple watch?
https://wccftech.com/apple-watch-edition-unboxing/A nice classic watch can last for many, many years to come. Whereas, spending a large amount on an Apple watch with relatively new technology is (IMO anyway) a waste because it'll just go out of date in a few years.
LOL we can all pick a top of the range price for any argument we like.
http://www.selfridges.com/AU/en/cat/piaget-18ct-gold-and-cro…
The original trolling was about the "base" price being too high
Well, post has got people talking about this "desirable" item and establishing it's price point.
I have a very good Omega Seamaster from the 80's that was my Dad's. It's worth today about the same that was paid for it back then, in todays' money.
That's nice
Thanks for all the comments. The reason I want to keep my cash is that I need my cash for the house down payment. Obviously I can't pay the dues payment with personal loan. But I can buy a nice watch using a loan.
Mano of you were asking why to buy an expensive watch. All of you might be right, call it an obsession or a wrong decision! But I might do it 😂 I think I work hard enough to treat myself a nice watch, and also need my cash in the bank to but a house !!!
The reason I want to keep my cash is that I need my cash for the house down payment
Keep in mond that any outstanding loans (or monthly payments you have to make) will have an impact on the amount you can borrow for your mortgage!
Absolutely true, my monthly budget is not an issue, my problem is the down payment! Really struggling to save 50-60 k to enter the market
Really struggling to save 50-60 k to enter the market
but yet you want to spend $10k on a watch? :)
FWIW I was obsessed with Omega for a while, after the recent 007 movie, but I got over it eventually.
Hey OP
Further to my earlier post it seems Kennedy Group does sell Omega which you can do on interest freed finance
https://kennedyluxurygroup.com/brands/watches-and-jewellery/
Besides looks, an expensive watch isn't really going to help you in any way. Instead of financing, you're much better off saving until you have enough money.
Save the financing for something you might actually need, like a cheap car to get you to and from work.