A Louis Vuitton bag that can be split to 12 payments?

#31
As mentioned by Teddygalg - it is very common in Malaysia, a number find it very useful, but a number also get caught in it. A colleague bought first 1 item and another then another. And after 3 items, her limit is full (eventhough the repayments is over 12 or 24 months). For example :

CC limit is RM 30,000
First item was RM 10,000
2nd item was RM 15,000
3rd item was RM 5,000
Repayment say was RM 2,500 over 12 months. So after paying the first 2,500 instalment, she only had 2,500 available to use in her CC. Unless of course you have multiple CCs for other transactions..

As long as you pay up ALL monthly bills and not be late in paying, then you are alright. Otherwise, that monster accumulates and grow way too fast.
 
#32
I suppose if you're comfortable with this then it's up to you to decide as long as you have all of the info, and it sounds like you do. As roey said, the issues of finances are very personal and only you know how you will feel or handle this. I personally, do to being kind of OCD, don't even carry my new bag until the bill has arrived and has been paid in full at that time, as then I feel like the bag is really mine.
 
#33
bagluv4ever said:
I suppose if you're comfortable with this then it's up to you to decide as long as you have all of the info, and it sounds like you do. As roey said, the issues of finances are very personal and only you know how you will feel or handle this. I personally, do to being kind of OCD, don't even carry my new bag until the bill has arrived and has been paid in full at that time, as then I feel like the bag is really mine.
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I agree with bagluv4ever and roey. It is a very personal issue and only you can decide.

However, personally, I would not do this. A luxury is a luxury, not something I need in my daily life at all. A luxury is something you purchase after all other bills and necessities are taken care of.

If I didn't have the money to pay for something 100% outright, I wouldn't purchase it (few exceptions: home, car, higher education) unless I have that money saved up. I understand 0% interest is very appealing, but if I don't have the money, I simply cannot afford it.
 
#34
terps08 said:
I agree with bagluv4ever and roey. It is a very personal issue and only you can decide.

However, personally, I would not do this. A luxury is a luxury, not something I need in my daily life at all. A luxury is something you purchase after all other bills and necessities are taken care of.

If I didn't have the money to pay for something 100% outright, I wouldn't purchase it (few exceptions: home, car, higher education) unless I have that money saved up. I understand 0% interest is very appealing, but if I don't have the money, I simply cannot afford it.
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Well said. I think again that's why I don't buy unless I know that I have the extra funds saved up (or a few extra special bucks from my DH!) to pay the bill IN FULL right way when the bill arrives. It's not luxury if it's going to cause me stress. :yes:
 
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