Loan or Credit Card? I don't know what's best.

babypaws

Hiya,

So since the age of about 15 (I'm now 23) I have always wanted a Rolex. I graduated in May, and got a graduate job with a lot of career progression opportunities. I have decided that now is the time to treat myself to my watch and know the pre-owned reconditioned watch at £3795 is what I want. It's my dream, I want to enjoy it for the rest of my life, and I've worked hard to get where I am today, so I thought now is the time.

However, I don't have that money lying around to do it... I also don't want to wait however many years trying to save it all at £100 a month.

My plan was to pay for it on a credit card, and balance transfer when the 22 months 0% interest finished, and continue like that. However, the maximum limit is around £1,500; I therefore considered a loan, but again paying £100 ish over 3-4 years.... I'll pay £5k for a £3795 watch.

What is my best option here?

Thanks

sfax

Wait until your career progresses and buy the watch then is my advice. There's a good reason you've only been offered a £1500 limit

stephane_2

babypaws wrote: »

Hiya,

So since the age of about 15 (I'm now 23) I have always wanted a Rolex. I graduated in May, and got a graduate job with a lot of career progression opportunities. I have decided that now is the time to treat myself to my watch and know the pre-owned reconditioned watch at £3795 is what I want. It's my dream, I want to enjoy it for the rest of my life, and I've worked hard to get where I am today, so I thought now is the time.

However, I don't have that money lying around to do it... I also don't want to wait however many years trying to save it all at £100 a month.

My plan was to pay for it on a credit card, and balance transfer when the 22 months 0% interest finished, and continue like that. However, the maximum limit is around £1,500; I therefore considered a loan, but again paying £100 ish over 3-4 years.... I'll pay £5k for a £3795 watch.

What is my best option here?

Thanks

You're saying you've worked hard to be where you are.....well obviously not hard enough if you have to put it on a credit card or loan....save the fund first....you'll enjoy it even more!!

stephane_2

If you can't get a credit card with a decent limit....then very unlikely that you'll get a loan.....

BugsyBrowne

What reconditioned watch are you after?

sheilaluc

Save for it, don't buy it with a loan or credit card.

babypaws

It's in Fitzrovia Watches London.

It's the watch 79173. Mother of pearl face, gold & silver ladies rolex.

I suppose I better carry on saving then.

BugsyBrowne

babypaws wrote: »

It's in Fitzrovia Watches London.

It's the watch 79173. Mother of pearl face, gold & silver ladies rolex.

I suppose I better carry on saving then.

Nice I understand that having a nice watch is all about as I have Breitling not the Bentley which I would love but have a Colt which cost me £1700 3 years ago and promised myself one day I would have the Bentley Breitling or Navitimer.

babypaws

It's an ivestment in my eyes & something we'll have for life.
You have good taste in watches We'll get our watches one day.

dealer_wins

You know what they say about Rollox's, if you have borrow you cant afford one!!

Seriously getting £3000-4000 in debt for something that basically tells the time and wont really impress anyone as there are so many fakes being worn is sheer and utter MADNESS!!!!!

babypaws

Dealer wins.. I see your point but people buy nice cars & big houses. I don't have & don't need a car, & I know plenty of people older than me who have saved to put a deposit on a house but still actually can't afford to move out their parents because they couldn't feed themselves or heat etc a house.
I guess it's each to their own....