Financing your wardrobe over time is a concept that many of us have never thought about. Most of us have mortgages on our homes, with payments spread out over ten to thirty years, and car loans lasting for four or five years. We budget our monthly payments to keep our accounts up to date and our credit ratings high. But, have you ever bought a jacket, dress or handbag on time payments? I’ve never done this and am intrigued at the concept that many women probably have. It may be a good idea and a way to add more expensive pieces to your wardrobe, but it also increases your debt and your monthly payments. See what you think.
At The Real Real online luxury consignment, you can purchase a red Christian Dior wool and cashmere blend jacket with rabbit fur trim for $35 a month, a red Burberry coat with a rounded collar for $18 a month, a red and black Rodarte sleeveless dress with a striped pattern at the yoke for $44 a month or a pale blue quilted leather Chanel classic jumbo double flap bag for $335 a month. Yes, $335 a month, approximately what my combined electric bill and homeowner’s regime fee cost. While I would love to own some of these items, I’m questioning the logic of paying for them on an installment plan.
Many items for sale at The Real Real are new with tags; most are pre-owned and gently worn. For starters, you are probably getting a very good deal on a high-end piece in excellent, although not brand new, condition. Next, will you have it paid off while it’s still in style or will fashion change during the next season, making it a bit out of date? With the whims of the fashion world, only time can answer that. Finally, will your budget allow for an extra monthly payment? If you choose the red Burberry coat, the payments probably wouldn’t be any more than you spend for coffee. If you chose the Rodarte dress, the payments would be about half a week’s grocery shopping for a couple and, if you chose the Chanel bag, they might rival your car lease or payment. There are definitely plusses and minuses to consider when choosing to take on time payments. For some, it could be a very good way to increase their collection of luxury designer pieces; for others it could impose a financial strain and bring regret. Below is a list of some of the items you can currently finance at The Real Real. These gorgeous high-end labels could be yours for only $7 to $167 a month.
- A grey and multicolor Hermes silk plisse scarf with ornate print throughout $14/mo.
- A black Herve Leger Florence one shoulder sleeveless beaded cocktail dress $37/mo.
- An oxblood quilted patent leather Chanel grand shopping tote with silver-tone hardware $167/mo.
- Beige suede Louis Vuitton round-toe ankle boots with ruched detail $53/mo.
- A red quilted suede Chanel frame bag with chain link shoulder strap $56/mo.
- A navy Burberry jacket with portion of Nova lining at top $18/mo.
- A grey Prada virgin wool jacket with plaid print throughout $16/mo.
- Gold-tone Nina Ricci earrings with green and white crystal accents $7/mo.
- An ivory Kate Spade New York sleeveless silk dress with tonal stitching $7/mo.
- A navy blue cashmere Chanel long knit sweater with wide cut neckline $79/mo.
Make your own decision and choose wisely, making allowances for extra payments in your budget. If it works for you, you’ll have a wonderful wardrobe of luxury designer labels at amazingly reasonable consignment prices. If you have any doubts, think twice before ordering. To see the complete selection of luxury apparel and accessories currently on sale, visitTheRealReal.com.
As always, maximize your style and minimize your spending.