Serious question about engagement rings/loans.?

Question

I would really like to propose to my girlfriend more than anything. The thing is, I just got out of the military and I have a low-paying job (hopefully not for very long), my credit is not good but it is improving, as I am steadily paying off my bills. I would like to know where I can get a loan to get a ring for around 5,000 dollars. Does anyone know if this is possible?

Answer 1

My former-military brother, you shouldn't even THINK of spending that kind of money on a ring. It's not the ring itself that's important; it's what the ring symbolizes that is. Now, that doesn't mean you should be chintzy about it, but it does mean that you shouldn't spend outside your means for an engagement ring. You can get her a very nice diamond solitaire for less than half that, and you would be better served spending less on the ring and more on getting your bills paid off. Just be sure to get her a real diamond and be creative about giving it to her -- believe me, she'll be THRILLED.

Answer 2

$5,000 is not serious debt people. Most people do not buy their engagement with cash.

When you go look at different jewelry stores, they will sign you up for credit and monthly payments in the store. It's not a problem. It is very much the custom. Get the highest monthly payment you can afford and you will be able to pay it off without much interest. Most have No Interest for 6 mo or a year anyway.

Many jewelry stores offer military discounts. Shop around and don't forget to ask if they do.

But 2 suggestions on things to think about

1) consider buying the perfect setting. Take her out and she finds the setting she really really likes. If she likes diamond accents, those would be on the setting so sometimes that can be $1,000. Then get either a cubic or a sapphire/ruby to mount in the area. Thats a good deal cheaper--you could even get a white sapphire that would look like a diamond. Then a few years later you could replace it with a real diamond, but she'd already have the setting.

2) consider estate sales. check the newspaper. I wouldn't buy it until I had a jeweler check it out but if you don't have any superstitions about the ring having it's own history, or bad aura, you can get a really nice ring for about half its appraisal.

Getting a loan is very normal and all stores offer it. They offer much lower interest rates than a credit card. And as I said. most do no interest for a certain amount of time. It's just part of doing business in the diamond market.

Answer 3

Don't do it! You say your credit is bad but improving and your in a low paying job. I can guarantee you that with those circumstances the only loan you'll get is one that has you paying an exorbitant interest rate. Sit down and budget you money on paper, tell the girl you love her and want to marry her but because of that love your not going to until your out of debt and able to do right by her and then show her your plan.
Pawn shops have some terrific buys on engagement rings and most have a lay away program, this way you came budget for a nice ring, not go into debt and show your girl how responsible you are. Marriage is work and there's no reason to bring stress in the front door with you.
This may sound cheap but believe me my husband and I made some of the stupidest mistakes imaginable with money when we were first married and it took years to get over the trouble they caused.

Answer 4

get a simple ring right now. - it should cost about what you make in 3 months. If that's 5000 dollars then save up and pay mostly cash. my fiance got a beautiful ring from Tiffany's for $2000 but he paid most of it the day he went in and is now making payments for 6 months. so obviously you can get something nice with out spending so much and shop around for places you can get a good deal on. You can upgrade as you start to make more money. Ever notice that elder married women have bigger rings... do you really think they got those when they were 18 and not working much?!

Answer 5

You are going about this backwards.

Don't opt for the big flashy ring right now, everyone knows you can't afford it, and nobody expects you to do this. Starting out your marriage with a big fat loan payment is way not cool.

Find a ring you can afford, it doesn't have to be a diamond, just a ring that is pretty and in a nice setting. Emeralds, rubies, saphires, all are gorgeous. When your girl says yes and you put this ring on her finger she should be just about the happiest girl in the world, if she is the right girl for you. If she gets bummed out because it isn't a giant diamond, she isn't the girl for you.

Let your girl know you don't want to start off your lives together in debt, and that you intend to upgrade her ring as the anniversaries pass. If you can save up the money to pay for a ring, spend about two months gross salary on it, no more. More than that is pretentious.

Good luck.

Answer 6

Don't take out a loan. Once you get engaged, you'll have even more bills to think about. I got a diamond ring and even though it was only $600, I regretted spending that much money on something we could have used to pay off bills. For my wedding ring, we got a claddagh ring, which I love and cost $200 less. You might want to consider the claddagh, which can be worn as an engagement or wedding ring. Check out this article: http://buffaloathome.com/Detail.aspx?dct=54&id=2423&mid=1655

Answer 7

I would not take out a loan for that!! Depending on the interest rate the ring could end up costing over $6000. There are cute things you can do like give her a ring out of a bubble gum machine and tell her you would like to go ring shopping with her later. Or buy her want you can afford now and you can always upgrade later!!!

Answer 8

Don't take out a loan for a ring! That is just not smart. If you want to get engaged now, there are lots of rings you can get for even around $100 to 200 that are actually quite nice. Yes, they are gold, and yes, they have diamonds! Shop around, dude. If she's the one for you, and is mature, it will be the symbolism of the ring that matters, and that you are asking "THE question". The average amount spent on an engagement ring is 700 to 800 - so no need to shoot out of your budget!

Answer 9

I don't think it is wise to go into marriage in debt. There is no rush to get engaged/married. Save up for the ring and buy it with cash. You will feel better about it and will be starting off on the right foot.

Good luck!

Answer 10

I certainly have been in a relationship with my boyfriend for over 4 years. I certainly have considered such lots of of my acquaintances get engaged early in basic terms to have it end badly. i in my opinion am nonetheless no longer waiting to be engaged. no longer because of the fact i do no longer love my boyfriend and desire to be with him invariably- yet because of the fact I take marriage somewhat heavily. i might say do no longer do it. There are small issues that may aggravate you or make you desire to end your relationship which you do no longer even comprehend for 2 years. issues that are considerable problems in my relationship now i did no longer even recognize for no less than a pair years. surprisingly in case you do no longer stay collectively. in case you rather love one yet another and desire to be collectively invariably- there is not any reason to hurry. you would be collectively invariably besides, which you will besides wait until eventually you're the two older and recognize extra approximately one yet another. that isn't unavoidably something to do with age- the only age factor may be which you do not have the experience to renowned lots how relationships can replace and evolve by using the years and problems that may upward thrust up. additionally that issues in existence will replace into enormous themes which you do no longer somewhat could desire to handle at 17. in case you like one yet another, stay collectively. you may consistently take the step to get married years down the line. Plus wedding ceremony are extra exciting once you're older! and that they are costly. LOL. take exhilaration in yourselves. And good success.