Post # 1
Is this true or a ring buying myth? I’ve been thinking about upgrading my ring, but think I am going to get a wrap/guard instead. Wondering if going this time of year with cash in hand will make it easier to get the most bang for my buck or if the price is the price- the end. I have plenty to get exactly what I want, but hey if I can get a deal then that’s even better 🙂
Post # 3
@mixtapehearts: We got a deal by paying with cash for my ring. Originally $12,500 and we paid $10k even for it.
Post # 4
we got a bit of a deal? no taxes
Post # 5
It is true…
BUT be aware that when making a large purchase… such as a SIGNIFICANT piece of Jewellery you have better “protection” on your purchase if you do it with a Credit Card.
And sometimes that is worth more than the few percentage points you’ll save by paying cash.
Hope this helps,
Post # 6
yeah it’s true- definitely in places like Los Angeles. I went in there to just look around and saw a ring that cost 1350+tax, but the saleswoman said if i paid cash, it would just be 1350. I liked the idea of just paying cash, but then I thought about the credit card protection and decided to hit up etsy.
Post # 7
I’ve usually been able to get at least sales tax off (6% here) or the credit card processing fees (3-6%). So… not a huge deal. But other PPs make a good case for protection you have buying with a credit card!
Post # 8
All the wraps I am looking at are around $1k so it’s not a huge purchase. FI just finally decided he couldn’t get on board with an upgrade OR sideways grade so I had to bid goodbye to that idea. But he was cool with me adding to the ring so a wrap and then a blingy band are my solutions! But hey if I can get a $1k wrap for a bit off then that’s even more in my wedding band budget 🙂
Post # 9
My wedding band was 2k retail, and I talked them down to 500 cash including taxes in the diamond district. I believe it can work.
Post # 10
@This Time Round: +1.
I always use a credit card for big purchases; I prefer the protection it offers.
Post # 11
@mixtapehearts: It depends on the business itself. Many business like cash because: a) they don’t have to pay the CC company processing fees, which as a PP said are often 3-6+% and b) it gives them immediate cash flow for the business, as opposed to waiting for payment for the credit card companies.
So often times the cash discount trick works better in smaller, privately owned businesses than in big-box major retailers. But, the PP’s had very good advice when they said you had better protection using your credit card. Also, my Chase card gets me cash back on a lot of purchases, so keep that in mind if you can actually make money by using your card.