Online vendors that offer financing?

[crease123]

Other than Bluenile, are there any other vendors online that offers financing (prefably interest-free) plans?

 

[denverappraiser]

Like many things, ‘free’ interest is NEVER free. It just gets built into the price. You can almost always save money by getting your capital elsewhere. For example, almost all of the online dealers will take a credit card for payment and the issuing of credit cards is a wickedly competitive business so, in effect, almost all of them do. Shopping them is a whole art form in itself with the 0% teaser rates, rebates, bonus programs et all. Replicating the BN offer using some other vendor is easy. I’m sure you’ve already received this advice but I would be remiss if I didn’t point out that going into debt for a diamond is almost always a bad idea. Buy something you can afford without debt and/or save up your money before your purchase.

That said, here’s a decent site for comparing credit card offers.
http://www.creditcardsearchengine.com

For example: Here's one from Citi with 12 months at 0% and then 6.7% thereafter. Not surprisingly, there's a lot of fine print and you can bet there's some things in there that you may not approve of. The same is true of the BN contract by the way. There's goes to 20% after 6 months. 'Free' indeed.

If you can't qualify for a credit card I double my advice that you're making a mistake to take out a loan for this purpose.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Hand]

Before you consider borrowing money for a diamond, make sure you understand how much the loan will cost you over time - and what you would have been able to purchase in the future with the money you''ll spend on a loan now. As Denverappraiser said: "‘free’ interest is NEVER free."


You might consider looking for vendors who carry stones you can afford now, but who make it easy to upgrade later.

 

[diamondseeker2006]

I am pretty sure that Tiffany''s has an interest-free financing plan for engagement rings. Their stones cost the same regardless of whether you finance or not, so you overpay either way! But the financing does not cost extra if you pay it off on time! I am thinking it might be a year, but it could be less.

 

[mrssalvo]

Pearlmans offers 0% financing over 12 months.

 

[crease123]

Thanks for all the replies, deeply appreciated.

I wholeheartedly agree with "buying-only-what-you-can-afford". Unfortunately, the missus picked out this intricate "vintage" style engagement ring, and the design of the ring calls for a rather large diamond (~2ct) just to be noticed, and hence my current dilemma.

I really wish Whiteflash carries some sort of financing. Called them up and they offered me a 90-day fixed payment, where I will receive the diamond only after the 90 days. This just do not make sense to me...why not just save up the money for 90 days and buy it in one shot.

 

[Lorelei]

Date: 1/19/2009 10:31:54 PM
Author: crease123
Thanks for all the replies, deeply appreciated.

I wholeheartedly agree with ''buying-only-what-you-can-afford''. Unfortunately, the missus picked out this intricate ''vintage'' style engagement ring, and the design of the ring calls for a rather large diamond (~2ct) just to be noticed, and hence my current dilemma.

I really wish Whiteflash carries some sort of financing. Called them up and they offered me a 90-day fixed payment, where I will receive the diamond only after the 90 days. This just do not make sense to me...why not just save up the money for 90 days and buy it in one shot.

I am not familiar with this program but it does make sense if they hold the diamond for you and it is a harder to find type, larger diamonds are in short supply and are highly desirable.

 

[arjunajane]

Umm..I'm sorry, I know you haven't asked for financial or relationship advice, but have you discussed this with your Mrs?
Does she realize that the style she wants will cause you to go into debt? A 2ct stone is Not cheap. Does she realize thats money that will not go towards your wedding, honeymoon, home, etc etc..

There are sooo many gorgeous styles of rings out there, especially vintage ones. I'm sorry but I find it difficult to believe your GF cannot find a style that doesn't require "at least" a 2ct stone, yanno?
Even if that is the style she absolutely is set on, why not have a inspiration one made to a smaller scale?

Can we see a pic of the setting in question, or a description ? Perhaps we can make suggestions on more suitable options that are similiar..

 

[neatfreak]

Date: 1/19/2009 10:31:54 PM
Author: crease123
Thanks for all the replies, deeply appreciated.


I wholeheartedly agree with ''buying-only-what-you-can-afford''. Unfortunately, the missus picked out this intricate ''vintage'' style engagement ring, and the design of the ring calls for a rather large diamond (~2ct) just to be noticed, and hence my current dilemma.


I really wish Whiteflash carries some sort of financing. Called them up and they offered me a 90-day fixed payment, where I will receive the diamond only after the 90 days. This just do not make sense to me...why not just save up the money for 90 days and buy it in one shot.

If she''s a girl worth marrying then you need to have a frank financial discussion with her and talk about the fact that you can''t afford a 2 ct. stone. Most settings can be made/modified for smaller stones too, have you considered that?

Also, does she *know* that her setting won''t accommodate a smaller stone? She might happily pick another setting if she knew...