Finance and payment plans:
There is more pressure now than ever before to have it all. That beautiful home, healthy and happy kids, marriage and of course the perfect engagement ring and the dream wedding.
It can be hard for young couples to find the right monetary balance. Life would certainly be a whole lot easier if we started our journey with money in reverse. Imagine starting your adult life with the means to purchase those big-ticket investments, rather than having to wait until later when you don’t need it as much.
So often I’ll get asked things like: “Can I finance my engagement ring?” or “what are your payment plan options?”
Gone are the days of a traditional in store 3-month laybys. Today there is an extensive selection of providers offering credit solutions for your jewellery purchases. But are they all the same, and are they the best option for you?
When looking at jewellery store payment plans, it is important to consider what their selection criteria are. By convention, most credit providers will have a credit check to see what your credit rating is. Every time this happens it leaves a mark on your record. Get too many marks within a period of time, and it will make it harder when you start applying for things like a home loan. Not to mention what it will do to your credit rating if you ever get knocked back.
Traditional external payment plans:
While a lot of the payment plans might advertise and promote that they are interest free, most have at least an annual fee and some may have a monthly fee as well. Annual fees can range from $79 – $99.
The Fine print
Let’s be honest, as much as we know there is fine print to read and we should probably look at every single paragraph in detail, the truth is most of us never will. But there could be some nasty surprises in the small details. Things such as the annual fee must be paid in full within 90 days or it will attract interest or, if you fail to pay a fixed monthly instalment, interest, (charged at the Expired Promotional Rate) is payable on that outstanding amount. That could leave a really bad taste in your mouth if you go outside of the guidelines.
What if there was a better way?
What if a jewellery store wasn’t interested in profiting from the credit terms, and genuinely wanted to help couples get engaged with the ring they really wanted rather than settling? I believe that most clients will do the right thing if given the opportunity. I think there is always a way to help couples get engaged no matter what their personal circumstances are.
What if it was possible for couples to get engaged for the price of a couple of coffees a week? So, I came up with an idea that had never been done before. What if I let our clients take home their dream engagement ring and pay it off over three years with Xennox? There would be no banks, credit unions or finance companies involved, so there would be no need for a credit check.
You might be wondering how this is possible? The truth is we are crazy passionate about helping couples get engaged with a quality diamond engagement ring. As a 43-year-old second generation family business with a flagship store in the Queen St Mall we will do just about anything to make that dream proposal moment become a reality. Having helped more than 6700 couples get engaged, we know that there are a lot more couples that would like to get engaged, if it was financially possible.
How does it work?
Simply choose the engagement ring you want here, pay a 50% deposit, then we will make the ring for you and we will let you pay the other 50% over three years with us, with no credit checks or collateral. It’s just an agreement between you and us. An agreement, that if we look after you by helping you get engaged faster, then you will look after us, by honouring your agreement with the weekly payments for 3 years (156 payments). They are some of our most classic and popular designs and can be customised in white gold, yellow gold or rose gold, with a .50ct, .70ct or a 1ct diamond. All of these rings still come with our lifetime manufacturing warranty, and lifetime professional cleaning and stone tightening as standard so you have complete peace of mind. We decided to spread it out over three years so the weekly payments could be as little as $14.42 a week. So maybe you need to give up Netflix for a while or cut back on the coffees. But at least you will be engaged closer to saying your “I do’s”.
Are there risks?
Sure, there are risks involved, but they are solely on my side, and they are risks I am willing to take as I believe that everyone deserves to wear a beautiful, quality diamond engagement ring. I have seen too many couples who couldn’t afford the engagement ring they really wanted and settled or simply didn’t engaged at all. Your engagement ring is something you get to wear for the longest period of your life, and it should be something that you look at, love and adore every day you wear it. Not look down at it with regret.
All the fine print is written in plain English for you to read in a section on our site here. There are no surprises and no hidden fees. You can pay it off at any time if you want, and there is even the opportunity to add to it when you want to add your wedding rings.
One client that I have personally known since I was at school, some 25 years ago, yes it does seem like a lifetime ago! This client has been with his partner for twenty years and they have four beautiful children. She desperately wants to get engaged. Every time there is an engagement ring promotion, she tags him and would love nothing more than to make it official.
But, like anyone with children there are always bills to pay and the engagement ring slides down the list of priorities. While they are incredibly happy together, and have made a wonderful life and have a happy home, it is still an unresolved issue (probably more for her than it is for him) I think at my core, I just love making people happy, and I get such a thrill out of seeing a couple go on their journey from a Will you marry me to I do.
Ultimately, we want to help you choose the ring you want without any penalties for paying it off over time. You can deal directly with us, and not worrying about being put through a third-party provider. That way it leaves more in your pocket now, for all the things you might also need, like buying or moving into a new place, home renovations or new additions to the family.
So, what are you waiting for? Talk to us now about how we can help you get the ring you deserve without breaking the bank. Simply Click Here to book an appointment.
Seriously, why wait any longer? If you have been thinking about popping the question, this is the new way to buy an engagement ring.