Have you ever thought about loaning money for Hermes?

[Mai Britt]

I know it is logically completely stupid, but I must say, for the first time in my life I am tempted to buy something on credit ( the only loan I have is our morgage).. I REALLY want a Birkin and here at least in Copenhagen, you have to put down a certain amount when ordering/getting on the waitlist.

BUT have any of you ever considered this??


If this is too personal, I apologise and will ask the moderators to delete this ( I am just curious and feel I need a birkin in my life ASAP )

 

[stylefly]

Well...I have my first Hermes piece soon on its way (a Kelly) and for that I sold off a LOT of my other bag collection. I did consider borrowing money from my parents (I love being an only child, even in my 30s) for a Birkin but then I decided that, while the instant gratification is so wonderful, one of the things that is really special about buying your first Birkin is the patience and dedication it takes, for lack of a better term! I am now okay with waiting as this is a bag I'd like to keep for the rest of my life. The only way I might buy on credit is if the EXACT bag I want came up on Ebay or elsewhere at a savings of $1000 or more from CDN pricing (which is horrendously expensive compared to US).
I say wait- you'll appreciate it more.

 

[Mai Britt]

Well...I have my first Hermes piece soon on its way (a Kelly) and for that I sold off a LOT of my other bag collection. I did consider borrowing money from my parents (I love being an only child, even in my 30s) for a Birkin but then I decided that, while the instant gratification is so wonderful, one of the things that is really special about buying your first Birkin is the patience and dedication it takes, for lack of a better term! I am now okay with waiting as this is a bag I'd like to keep for the rest of my life. The only way I might buy on credit is if the EXACT bag I want came up on Ebay or elsewhere at a savings of $1000 or more from CDN pricing (which is horrendously expensive compared to US).
I say wait- you'll appreciate it more.

I know yoy are absolutely right and I don't think I will be comfortable loaning money espicially for a handbag, but I must admit I sometimes - in the heat of the moment - get tempted and think 'what if..' utterly foolish I know..

 

[bagwhore1]

If and only if .. the exact bag I wanted somehow miraculously popped up unexpectedly at a Boutique or on eBay. I would then, however pay huge chunks at a time to dissolve the debt as it really only feels like it's "mine" once it's paid off.

 

[Liberté]

I know someone did it for a limited edition LV bag, but it's not like Birkins are limited editions in the same way. THey are scarce, but unlike seasonal bags, they'll always make more. Depending on how much time it will take you to save up, my advice would be different. If it will take you like a year or more to save up, I think loaning is better actually.

 

[Yorelica]

If you love it...do it. But only loan if you know you can pay it off in a reasonable amount of time.
Good luck with your first birkin!

 

[SOLIDGOLD2]

i would never take out a loan or use a credit card... i would use a debt card which takes out cash directly from your checking and i would do that b/c i want the protection of visa or mastercard incase something happens

 

[Mai Britt]

I know someone did it for a limited edition LV bag, but it's not like Birkins are limited editions in the same way. THey are scarce, but unlike seasonal bags, they'll always make more. Depending on how much time it will take you to save up, my advice would be different. If it will take you like a year or more to save up, I think loaning is better actually.

I have calculated how much I can realistically afford putting aside each month, plus what cash I will get for birthday and christmas ( I have said to my mom & dad that I only want cash or Hermes vouchers untill I have my Birkin) and I came to about 2 1/2 years of saving...

 

[Liberté]

^
Have you taken into account that it'll probably be two more price increases by that time?

I forgot to mention that I'd always consider using savings, and later "fill up" the saving acoount again, as it's better than paying off a loan interest.

Do you think it'll be worth in two years time?

I do admire your patience though! It's much greater than mine!

 

[Mai Britt]

^
Have you taken into account that it'll probably be two more price increases by that time?

I forgot to mention that I'd always consider using savings, and later "fill up" the saving acoount again, as it's better than paying off a loan interest.

Do you think it'll be worth in two years time?

I do admire your patience though! It's much greater than mine!

I think about how much I will pay in interest on a loan vs. the price increase .. how much did a 35 Birkin (normal leather) cost 2 1/2 years ago vs. today? (anyone know?) Maybe it will be cheaper to loan the money + interests than to buy a bag in AT LEAST spring 2010 !!

 

[pursemember]

personally i think it is not worth it to go into debt for marginal things.just because of the what if´s

what if your car dies and you took a loan for a handbag
what if (g+d forbid) something healthrelated pops up

etc..

 

[Odette]

Why pay more than you have to for a handbag? Buying on credit only means you pay more in interest...I'd only do it if I got a 0% loan!

 

[hello2703]

I agree with Lilach. There are things that can come about that are absolutely necessary and you may need the credit for that and it would be awful if you had blown it on a handbag.
At the end of the day - even though we're talking about these bags as if they were the center of our lives - a Birkin is just a bag. A marginal thing, as Lilach has correctly pointed out. The monies we pay for these bags are frivoulous. They are an absolute luxury. It's great if you get an unexpected bonus or somehting or have indeed saved for this bag. To buy it on credit is somehow the wrong way to go about it.
Stay with us and wait. You might even find that your taste developes (as it has for many members of this forum) and that you might desire a different model.

 

[Lyanna Stark]

Ultimately a bag is just a luxury item, it is not worth going into debt for it. There are other priorties in life.

 

[stylefly]

I agree with Lilach. There are things that can come about that are absolutely necessary and you may need the credit for that and it would be awful if you had blown it on a handbag.
At the end of the day - even though we're talking about these bags as if they were the center of our lives - a Birkin is just a bag. A marginal thing, as Lilach has correctly pointed out. The monies we pay for these bags are frivoulous. They are an absolute luxury. It's great if you get an unexpected bonus or somehting or have indeed saved for this bag. To buy it on credit is somehow the wrong way to go about it.
Stay with us and wait. You might even find that your taste developes (as it has for many members of this forum) and that you might desire a different model.

I COMPLETELY agree with this.
We are taught to enjoy the thrill of the hunt and then cast off our acquisitions in favour of the "next big thing" a few weeks, months or years later. But does your first Hermes deserve this kind of treatment? I know that for me, the waiting makes me think long and hard about why I want this particular bag. If I want this bag to last me the rest of my years and maybe as a family heirloom, what's the rush? It will just be more special if you wait. I know that commerce these days really pushes the instant gratification, but the wait for your first Hermes is something I think you should draw out and savour as long as possible.