(Closed) Did he take out a loan for your ering?

posted 12 years ago in Money
Post # 32
Member
348 posts
Helper bee
  • Wedding: February 2010

No loan here. He doesn’t believe in loans except mortgages and cars. He doesn’t even own a credit card which is probably no good.

Post # 34
Member
113 posts
Blushing bee

I don’t think it’s a bad thing if someone’s ring was bought with a loan, I agree that it depends on each couples situation 🙂

My fiance paid half in cash (deposit) and charged the rest and is now paying it off himself.

Post # 35
Member
108 posts
Blushing bee
  • Wedding: August 2010

No loan, paid it on his CC and then paid it off in full at the end of the month. He’d been saving without me knowing.

Post # 36
Member
383 posts
Helper bee
  • Wedding: November 2009

No loan – I would have been pretty upset if he had because personally, I’d much rather have a smaller debt-free ring than something that he went into debt over. 

Post # 37
Member
58 posts
Worker bee
  • Wedding: October 2009

No, he paid for the ring in full – BUT, we have been together for 5 years, so he had a little bit more time to save for it than a lot of engaged couples.

Post # 38
Member
21 posts
Newbee
  • Wedding: October 2010

My guy brokered the ring into an awesome deal!  Tony found a local Bay Area jeweler who will retain the full value of all of their diamond engagement rings.  Then he purchased a ring off of Craigslist from a dude who wanted quick cash from an unfortunate break-up.  The value of the ring was about $4K, and Tony paid about $2.5K cash.  They went to the jeweler and Tony “traded” it in for a different ring (CL ring was solitaire) and paid the difference.

As much as I love the ring, I loved the fact that he was smart about buying it.  I felt a little bad about him eating nothing but instant noodles for 6 months, but he gets a nice meal now! 

 

Post # 39
Member
670 posts
Busy bee

No loan.  We went with a local jeweler and we started paying at the beginning of the process (custom ring) and paid the final balance the day he picked it up. It was about 3 months from beginning to end.

Post # 40
Member
425 posts
Helper bee
  • Wedding: September 2009

He had a ring from a previous relationship so he traded it up and got a loan for the difference. I love my ring and it’s at 0% interest so it works for me!

Post # 41
Member
212 posts
Helper bee

Nope, but I do know plenty of people who have.

Post # 42
Member
3579 posts
Sugar bee
  • Wedding: August 2010

Nope no loan – but I wouldn’t say that he had X amount of money lying around he SAVED UP for the ring for quite a while – I would have been pissed if he got a loan – we have a mortgage, car loans and student debt – but NOTHING else goes on credit! An engagement ring is an unnecessary expense and therefore should not go on credit IMO!

Post # 43
Member
1420 posts
Bumble bee
  • Wedding: September 2009

No loan. My hubby saved for the ring, When he went to purchase the ring they gave him a discount for using their credit card so he did that but paid it all off that month.

Post # 44
Bee
716 posts
Busy bee
  • Wedding: September 2009 - City Hall

We saved up, and then paid in full.

Post # 45
Member
887 posts
Busy bee
  • Wedding: September 2010

He didn’t take out a loan for my (more than I wish he would have spent but *gorgeous*) ring. He actually put it on his AmEx, which gets bonus airline miles, and paid it off in full, so no interest + miles we can use for our honeymoon 🙂

Post # 46
Member
1001 posts
Bumble bee
  • Wedding: May 2010

My Fi got his mother’s diamond and just paid cash for the band it was reset in.  So I got it good both ways!  He didn’t have to pay much for the setting and I have a beautiful heirloom!

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