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Rolex Financing: 5 Ways to Pay For Your Rolex

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With the cost of a Rolex ranging from $5,000 to $60,000 or more, you might be looking for Rolex financing options to spread your payment out over time. While you might be able to finance your Rolex with a layaway program, personal loan or other strategy, make sure you can afford any loan you take out, including its interest and extra costs.

Here’s a comparison of five Rolex financing options that are offered by traditional or online jewelry retailers.

Rolex financing options

Financing the cost of a Rolex means you’d likely pay installments over a set term rather than the entire amount at the time of purchase. You may be able to do this with a layaway or leasing program, or with a loan. Either way, expect to pay interest charges, leasing fees or some other financing fee, unless you can pay off the cost of your watch within a short period, like 90 days. Using a loan calculator can help you estimate loan costs and ensure you can afford repayment before you borrow.

It’s also possible to pay for a Rolex with a credit card, although this can be a pricey option. Credit card interest can be high unless you qualify for a low introductory APR.

See the chart below to start comparing various Rolex payment plans:

Rolex financing options
How it works Qualification requirements Best for…
1. Layaway program
  • Purchase is held by the store and paid off over time
  • Customer picks up item once full amount is paid
  • No credit check or eligibility requirements
  • Deposit required
  • Borrowers looking to finance a Rolex with bad credit or who are willing to wait
2. Progressive Leasing
  • Customer purchases watch with a third-party lease, making regular payments toward ownership
  • Early buyout option
  • Credit is pulled, but no credit history required
  • Qualification is relatively easy
  • Borrowers looking to finance a Rolex with bad credit and want to take the item home immediately
3. Affirm loan
  • Fixed-rate loan offered through specific vendors
  • Paid off in 3 to 48 months
  • Credit check necessary
  • Your finances will be taken into account
  • Payment history on prior Affirm loans and age of account are also considered
  • Good-credit borrowers who can qualify for competitive rates
  • Those seeking straightforward financing
4. Credit card
  • Revolving line of credit that comes with a variable interest rate, credit limit and compounding interest
  • Credit check necessary
  • Higher scorers generally receive lower interest rates and higher credit limits
  • Good-credit borrowers who qualify for a 0% intro APR
  • Those who can pay off the watch before intro APR ends
5. Personal loan
  • Installment loan with a fixed rate and terms that typically range from 12 to 60 months
  • Can be used for a variety or purposes
  • Credit check necessary
  • Income, assets and other debts considered
  • Borrowers with good-to-excellent credit who qualify for low rates
  • Those who want a longer repayment term

1. Layaway program

Layaway programs help make major purchases more affordable by allowing you to pay them off in installments. You’ll put a deposit down on an item, then make regular payments until the item is paid off and can be taken home. Layaway programs may run only two or three months, but a Rolex layaway could last a year or more.

Expect some kind of finance charge, though layaway programs don’t charge interest. You can also expect a cancellation and restocking fee. However, because layaway programs aren’t an extension of credit, your payments —even late payments — won’t be reported to the credit bureaus.


You won’t need a credit check to qualify for a layaway, and your credit score won’t be affected if the layaway plan falls through. However, a certain percentage of your payments may be non-refundable if you back out of the layaway program.

Is a layaway program right for you? A Rolex layaway program might be a good fit if you can afford to pay for the watch in cash over time and don’t mind waiting to have it in hand. It might also work if you have less-than-perfect credit and would face unaffordable loan options.

2. Progressive Leasing

Progressive Leasing is an online lease-to-own provider. Through this service, you could apply to lease a Rolex, even if you have less-than-stellar credit. This type of program lets you take your watch home right away, though you won’t technically own it until a set number of payments have been made.

You won’t be charged interest, but you will pay leasing costs. It’s unclear what Progressive Leasing charges for its lease-to-own program — however, with an early buyout option, you may be able to avoid significantly high leasing costs entirely by paying for your watch in full in, say, three months rather than 12.


While some leasing programs don’t require a credit history to apply, your credit report may be pulled to process your application — and not all applicants are approved.

Is a leasing program right for you? A leasing program might be another way to finance a Rolex with bad credit. However, if you can’t take an early buyout option, you’d likely pay much more than the watch is worth over time. Even with a buyout option, if it’s 90 days or less, you might not have enough time to pay off an expensive purchase. When applying for a lease-to-own program, find out what your leasing costs will be before committing.

3. Affirm loan

Affirm, a San Francisco-based financing company, provides point-of-sale financing for select vendors, including some watch retailers.

Financing generally lasts between 3 and 12 months, and up to 48 months for large purchases. As of Sept. 16, 2021, the fixed APRs ranged from 0% to 30% , and they are based on your creditworthiness and/or the product purchased. Affirm doesn’t compound interest or charge fees — so it might offer a potentially more affordable financing option than a credit card.

In lieu of financing your purchase at checkout, you may apply for a loan ahead of time and have the approved amount loaded onto a virtual VISA card. This one-time use card can then be used for purchases at most merchants that accept VISA.


To qualify, you’ll need to buy your Rolex from a vendor that offers Affirm financing at checkout or accepts the Affirm virtual VISA card. Eligibility requirements and interest rates vary depending on the vendor. However, Affirm is an unsecured loan, so expect qualification to be harder than with secured loans, like an auto loan. Before Affirm approves your loan, the company will look at your credit score, the interest rate the vendor is offering you and your payment history with Affirm.

Is an Affirm loan right for you? This type of Rolex financing can be a convenient option at checkout, if it’s offered at the vendor where you’re shopping. You should have solid credit to qualify for an attractive interest rate — otherwise, you might end up paying a lot more for the watch than what it’s worth.

4. Credit card

A credit card is a revolving line of credit, which means you have a set maximum amount you can charge to your card. As you pay down your balance, you can make additional charges to the card. Credit cards often come with higher rates than other types of financing, with an average APR across current accounts at 19.47%, according to LendingTree data (as of Sept. 16, 2021).

While some card issuers — like credit unions — issue fixed-rate credit cards, most come with variable rates that change with the market. Credit card interest compounds over time, so financing charges can add up quickly unless you pay off your balance in full each month.

If you have strong credit, a credit card with an introductory 0% APR can make your Rolex purchase more affordable. With this type of offer, you can avoid interest by paying off your balance within a set period, usually 12 to 18 months. After that, expect to pay interest on any remaining balance at a higher APR.


Your credit score and other financial information is important when you apply for a credit card; with a higher credit score and high income, you’ll see lower interest rates and higher credit limits on card offers. You may still qualify for certain types of credit cards with fair credit, but expect your interest rate to be much higher and to struggle to nab any introductory low-APR offers.

You can usually apply for a credit card online, where you’ll be asked to provide information like proof of identity, employment and how much you pay monthly for other debts, like a loan or mortgage.

Is a credit card right for you? Using a credit card for Rolex financing might be a good choice if you have a solid credit history, qualify for a low introductory APR offer and can pay off the cost of your watch within a short window of time. Beware deferred interest, however. Bear in mind, however, that if you don’t pay off your balance in full before the offer expires, you’ll be charged interest on the remaining balance.

5. Personal loan

Personal loans are installment loans with fixed interest rates and fixed terms, meaning you’ll have a clear repayment plan with predictable monthly payments. These loans often come unsecured, which don’t require collateral (like a car, for example) for qualification. Still, secured personal loans might also be an option.

Loan amounts vary, from as little as $1,000 up to $50,000 or more, and the money can be used for a wide variety of purposes — such major purchases, emergency expenses or paying off other debt.

Rates on unsecured personal loans typically range from 6% to 36%, and some personal loans can come with an origination fee of 1% to 8% of the loan amount (as of Sept. 16, 2021). Because personal loan terms vary so much, it’s best to shop around and compare.


Personal loans typically don’t require collateral, so lenders will look closely at your credit score, income and other debts. You can often prequalify with a soft credit check, which won’t affect your score. Doing so lets you see the terms you may receive when you formally apply.

While borrowers with good-to-excellent credit usually receive the best rates, you may still be eligible with fair or poor credit, especially if you apply with a cosigner. Opting for a secured personal loan could increase your chances of approval, as well as how much you can borrow, but you should be comfortable with putting down collateral to back the loan. If you can’t make payments on a secured loan, your collateral may be seized.

Is a personal loan right for you? A personal loan can be a solid financing option for a Rolex if you have good credit and can secure a relatively low interest rate. If your credit is less-than-ideal, you could end up paying far more for the watch than what it’s worth.

Saving money by buying a used Rolex

Buying a used Rolex can be a straightforward way to make this big purchase more affordable. Used Rolex prices are often far lower than the price tags on new watches.

The fastest and easiest way to find a used Rolex is through an online search. Many jewelry stores like Jared and Tourneau offer a wide variety of pre-owned Rolexes online, and, depending on the model, you may find a watch as low as $3,500 — and perhaps even less.

It’s also possible to find used Rolexes at an online-only retailer like Crown & Caliber. Financing may be available too — for example, BeckerTime, an online retailer of used Rolexes, offers financing for up to three years through Affirm.

Before moving ahead with your Rolex purchase, or any big purchase for that matter, take a look at your budget and make sure you can afford to pay back any money you borrow. If you decide to move forward with a loan, check out this guide on how to budget properly to pay off debt.


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