Top 3 Ways For Financing A Rolex Watch

 The phrase ‘Time is Money’ can be changed into ‘Time Is Luxury’ because grandeur has many forms, it can be car, jewelry, homes, or watches. Watches are one of the essential fashion items to complete your look. Brands like Armani, Omega, Cartier, Piaget, and many more are the top sellers of luxury watches worldwide. However, the greatest of all time still continues to be a Rolex. 

Rolex watches have been around since the Greatest generation. It is a popular choice among many individuals because of its eminent product quality extending over the many years of its existence. Every Rolex is a robust, sturdy, and reliable version of luxury. Brands like Rolex are the ‘Originals’ creating a legacy behind them accompanied by a history of struggles and success.

Rolex is a luxury watch brand founded in 1905 by Bavarian entrepreneur Hans Wilsdorf. It is headquartered in Geneva, Switzerland. Rolex invented its first waterproof watch in 1926 and has a total production of approximately a million watches per year. 

Now that you know the detailed information about Rolex, you might be interested in knowing how can you purchase the luxury of your dreams. So, here are some financing methods that can get you a step closer to your dream watch.

1. Layaway Program 

This program allows you to pay your debts in installments making major purchases affordable. You need to deposit an amount on an item and make regular payments until the item is paid off and is ready for you to take home. This program may run only two or three months, but a Rolex layaway could last a year or more. This program doesn't charge any kind of interest, but there may be a finance charge or cancellation/restocking fee. 

How to qualify for this program?

Layaways don't require a credit check, and in case the program fails, your credit score won't be affected. However, a certain percentage of your payments may be non-refundable if you back out of the layaway program.

2. Progressive Leasing 

Progressive Leasing is an online lease-to-own provider. You can easily apply to lease a Rolex even if you have a less than stellar credit with this service. You can take the watch home with you right away, but you won’t technically own it until a set number of payments have been cleared. You won’t be charged with interest, but you will pay leasing costs. It’s unclear what Progressive Leasing charges for its lease-to-own program-though, with an early purchase prospect, you may be able to bypass significantly high leasing costs simply by spending for your watch in full, say in three months rather than 12.

How to qualify for this program?

Despite the fact that some leasing programs don't require a credit history, your credit report may be pulled to process your application - and not all applicants are approved.

3. Personal Loan

These loans are installment loans with fixed interest rates and fixed terms, meaning you have to clear a repayment plan with predictable monthly payments. These loans can be unsecured, which doesn't require collateral (car, property, gold, etc) for qualification. However, secured personal loans might also be an option. 

How to qualify for this program?

This loan doesn't usually require collateral to qualify. However, lenders will closely look at your credit score, income, and debts. You can also pre-qualify with a soft credit check that will not affect your credit score. 

These are the top three ways you can finance your fantasized watch and bring it home with you. Financing a Rolex watch is indeed an affordable investment, allowing you to balance your finances. However, if you are looking for a store that offers loans on Rolex, then you can visit Broffs Diamond & Loan Co. They offer loans only at a 3% interest rate. Apart from loans, they also have a stunning assemblage of diamond jewelry. Do visit them once.