I am too German now to finance anything. Either I can afford it or I don’t buy it. Just the thought of being stuck in X more installments after potentially loosing a job gives me anxiety
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Apple No Longer Offers Interest-Free Financing in Canada
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I agree, I love my 14 Pro, but if my whole financial life collapsed and for some reason, I was without a phone, I know I could function with a $20 Android phone from the government. Heck even an XR is still supported and you can find those for like $120 dollars.
I only use 0% financing because it allows my money to continue to grow in savings and investment accounts (as long as the market continues to do well); when the financing rate is higher than the rate of my money’s growth, then I use one of cash back credit cards that I pay off every month.
Nobody ‘needs’ to finance an iPhone. If one can afford it without finance great, if not it is far more sensible to buy a cheaper brand without financing or finance a much smaller amount.
Incorrect. It’s best not to assume you understand everyone’s finances.
I think what you should say most people who do finance should not do so.
I financed my last phone a 12 pro max. I had the $2k (AUD) to buy it and could have easily spent that but I preferred to finance because it worked better for me with finance and how I managed my phone bill and other expenses (mortgage, car etc)
The biggest lie about these things is that there is always a fee for finance which ultimately acts as interest or they change a higher price for the item when you finance.
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Easy for people like you and me to say, but electronics are so necessary to participate in so many societies that some may end up having to finance for a phone to get themselves started to work or do business. It’s not easy to see this for those of us who have means. Truly.
I like paying using financing, I don't like seeing big chunks of cash just taken out once. To those saying if you can't buy it outright don't bother, thats a very narrow view on how the world works. The simple idea is, you want an iPhone 14 Pro Max to do your job, but you also have other living expenses: rent, car payments, insurance, groceries, medical, monthly deductions. You want to be able to buy a phone by spreading the payments out and still take care of other living expenses. Not everyone is in the 1%. If everyone had a 1% income Apple would not be a near three trillion dollar company.
Wrong and financially imprudent.
Financing allows you to use that money for other investments. Anyone worth real money uses cheap loans (for stuff they can easily buy cash) to invest and continue to grow assets. 0% loan is a no brainer.
There are circumstances, apparently beyond your experience, where it would be a necessary evil. Issuing blanket statements from a position of absolute certainty provides nothing except information about the issuer.
A very consumer-hostile change, just like the iCloud pricing changes also announced today.
A Tim Cook Classic
A Tim Cook Classic
Wrong. With the AppleCard you finance at 0% and why would you exhaust your cash on a depreciating item. My guess is that finance classes were not in your curriculum
So you live in a tent and drive a bike. Good for you buddy!
it was fine to finance when it was 0%, wby pay cash when you can borrow somebody else’s money. But now with these new rates… it no longer makes financial sense.
You didn't read the thread or even the title of the thread and take that into account.
F letter grade.
It's a good rule on any product with a depreciating value to not finance. You can play games with financing offers but there is a reason why promotional rates and store financing offers exist and it's not out of the goodness of their hearts. They know it helps drive more sales (enticing folks who likely can't afford it) and if someone misses a payment, the interest rate will pop.
I always pay in full for my Apple devices but I do budget for it. I have a separate bucket in my savings account (4% interest rate) for just Apple device upgrades and put money into it each month to use for my next purchase of an iPhone, Apple Watch, Mac, etc.
I always pay in full for my Apple devices but I do budget for it. I have a separate bucket in my savings account (4% interest rate) for just Apple device upgrades and put money into it each month to use for my next purchase of an iPhone, Apple Watch, Mac, etc.
Who are you o come up with such nonsense. If you believe this ourself then you should believe absolutely NO credit should be used for ANYTHING!
Any other Canadians notice this occurred just after interest rates dropped today?! Hmmm
Oh please, some of you are just being classist.
Paying zero interest on ANYTHING will always benefit the consumer because you don’t have to foot the bill upfront, and you can put that money saved on, guess what, a 4.15 savings account that pays you back even more for the product. Also, at least in the states, you get the 3% cash back on any Apple product when you use the Apple Card.
There is no argument here, you're just being arrogant, and quite frankly, fiscally irresponsible if you think otherwise.
Paying zero interest on ANYTHING will always benefit the consumer because you don’t have to foot the bill upfront, and you can put that money saved on, guess what, a 4.15 savings account that pays you back even more for the product. Also, at least in the states, you get the 3% cash back on any Apple product when you use the Apple Card.
There is no argument here, you're just being arrogant, and quite frankly, fiscally irresponsible if you think otherwise.
Lets be honest, this is already happening if apple is offering 0% financing to anyone with an apple card. That isn’t to say they won’t charge more in the future, I’m sure they will.
Good. People who finance their purchases should be allowed to pay interest.
Some people either dug themselves into a hole of credit card debt and swore off financing, or their parents did and taught them how evil financing is, not really even understanding how it works or how it could benefit them. It doesn’t take much to understand financing but a lot of people don’t want to bother.
There are people that seriously think they are supposed to pay the minimum payment on their credit cards every month, with a big bold 24.99% interest warning at the top of each bill, then call the credit card company predatory and swear off credit forever when they realize they paid off what they spent twice over and the remaining balance is all interest. For someone that dense, I guess 0% interest is not going to be an easy concept to grasp.