hour glass dbs promo- all brands

[triton]

there is an article in ST today about the hour glass credit card promotion.

[Mezz72]

It's too simplistic a statement to make, to say pay by installment means the buyer is stupid, can't afford it etc. For heaven's sake, it's free interest so what's the issue here so long as no issue w the installment amount?
And I think such schemes are also to try combat the grey mkt sellers.

[terry79]

+1. As long as one doesn't default on payment.

[Spike123]

Does hour glass sell Pam?

[kiwitan]

Does hour glass sell Pam?

Do the hour grass has the tissot skeleton watch?

[Trinidad]

ei.... nice replied. I wonder anyone don't have any debts? car loan, HDB/ private property loan......
if yes, then congrats...

Thanks.

[Bestbuy]

ei.... nice replied. I wonder anyone don't have any debts? car loan, HDB/ private property loan......
if yes, then congrats...

Beggers shouldn't have debt, since no bank will loan them.
Not even the illegal ones will loan to them.

[wolfeyes2]

as long as u spend within your means...instalment or not is ok.

[kelvin_koh]

Does hour glass sell Pam?

Yes.

[dtctan]

Installments is perfectly fine provided you don't default on your monthly installments

[Oceanklassik]

Allow me to share this article with all..

there is an article in ST today about the hour glass credit card promotion.

Buy luxury watch, pay over 40 months, interest free

The Hour Glass launches longest instalment plan in retail history

(The Straits Times, pg B15, Friday, January 17 2014)


LUXURY watch retailer The Hour Glass is offering buyers lots of time: a 40-month interest-free instalment plan, the longest seen in the retail industry. Financial experts warn consumers to ensure they spend within their means when taking up these sorts of offers and to avoid doing so on impulse. The money has to be paid off eventually, they note.

The Hour Glass offer started on Jan 1 and lasts until Feb 28 for all brands, though only with a DBS or POSB credit card.

"This time, we would like to make owning a desired timepiece more accessible to those who aspire to own one," said managing director Wong Mei Ling. "Hence, we pushed the envelope on instalment payment plans to 40 months to make repayment every month considerably lower." The offer is not limited to timepieces, she added.

The Hour Glass also sells a variety of goods at luxury multi-brand boutique Malmaison by The Hour Glass, such as fragrances and jewellery. Since the promotion began, "results have been positive". "The 40-month instalment plan is very appealing given that no one in the retail industry has ever embarked on it," she said.

The Hour Glass' previous offer was a 36-month instalment plan in 2012. During such promotional periods, the retailer sees instalment payment plans spread evenly over various options which also include 12- and 24-month plans. As such, sales generally spike with these yearly promotions that introduce long-term instalment plans.

Ms Wong said, "We expect this promotion to outperform the ones we have developed in the past. "With the first ever 40 months interest payment plan, this is the lowest monthly repayment plan."

The promotion has encouraged customers to buy more than one watch. Banking associate Joseph Low bought matching ROLEX timepieces that cost more than $10,000 each, for himself and his wife using the 40-month plan, to celebrate turning 40 this year.

He said: "I always have had a fascination with mechanical timepieces and when I saw the advertisement on Jan 1 about the 40-month programme, it simply resonated with me, and I just knew this was the time to put down my 'milestone'.

Long-term instalment plans need to be within a person's means, said financial advisers. Banks such as DBS Bank do not have a specific limit for the amount which can be put on an instalment plan, as long as it is within the cardholder's credit limit. As a general guideline, the credit limit is up to four times the monthly salary.

Mr Michael Lee, Cornerstone Planners managing director, noted: "A debt is a debt and one is liable to repay. The longer one owes, the longer one is in debt." To prevent over-extending on such loans, Mr Lee said: "It is important for one to check his debt servicing ratio, which is the total monthly debt repayment over the monthly take-home pay, and it should not exceed 35 per cent."

It can be dangerous to take on such plans if big ticket items are bought on impulse, he added, and a longer repayment plan tends to give someone "the feeling that he can afford it but in reality he may not".

Mr Low has previously taken up instalment plans - the longest was 36 months - so longer durations do not deter him from making a planned purchase. He has been wanting to buy the ROLEX for a long time, and said: "To me it's investing in something I believe in for my wife and myself, and the timepieces will become heirlooms for loved ones."




Happy reading guys

[demonyi]

i got my few watches from hour glass if u pay cash u can ask for more discount.if u pay by card more ex. ETC u buy spend 40k pay by cash discount min 10% u save 4k. some watches can give up to 20% or more imagine u save 10k u can get another watch.

[Xavierkok]

If the dealer desperate enough, he will also give you discount in addition to the installment plan.
then your money can go a longer way.... opportunity cost of money

[demonyi]

If the dealer desperate enough, he will also give you discount in addition to the installment plan.
then your money can go a longer way.... opportunity cost of money

my fren working at hour glass told me if want max discount theres no way to pay by installment cos the bank will charge then tats y. so if want good price pay by cash is the best way. BTW i found out diff AD of same company can get diff discount so best not to rush. source ard a few 1st before commit tats wat i learned when i bought my 1st watch.

[wt_know]

cash is king.
let's say you buy a AP $25K ... you pay cash $25K and visa $25k already got difference. not to mention 40 months payment.

my fren working at hour glass told me if want max discount theres no way to pay by installment cos the bank will charge then tats y. so if want good price pay by cash is the best way. BTW i found out diff AD of same company can get diff discount so best not to rush. source ard a few 1st before commit tats wat i learned when i bought my 1st watch.