So a lower income person shouldn’t buy computer over installments bc they can’t outright afford one. What you are saying is so classist and ridiculous.
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Apple No Longer Offers Interest-Free Financing in Canada
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Sure, whatever you say, you definitely know me better through this one interaction than I know from my 34 years of living as myself.
I live in a small city with about 70,000 people. Here I can go everywhere by bike. And trains will get me to other cities. In Germany you can use all local public transport in the whole country for 49 Euros per month. I did not sign up to that, but I could if I had a longer commute.
The problem is that many roads in the US do not have sidewalks or bike lanes. That could be changed over time. If bike lanes are possible in Manhattan, they should be possible everywhere.
Especially if you have a low income, you should stay away from 24 month financing. It means that for the next 24 months your income will be even lower.
I just came back from a $10,000 trip around the world. I saved the money in cash and started the trip when I had it together. Of course you could do it the other way around. Do your trip now and then pay for it for 24, 36 or more months. That means though that once your trip is over, you are left with a lot of money to pay without getting any additional reward. If you save your money first and then do the trip, it feels like the trip is free, because you do not have to pay any more money when you do the trip and neither in future. The same is true for consumer products. Start saving for your next TV, when the old one is still working! That pile of money will grow and grow and one day gets you into the situation that you can buy a TV just from that saved money without worrying about financing.
So if a lower income person needs a computer for work or school, you are suggesting since they can’t afford one not to buy it? That sounds really dumb. At least financing the computer over a two year period the y can have a decent computer while not being in a tremendous amount of debt.
Apple can suck it! I will not be buying any new Mac anytime soon. The prices are too high and now don't offer any means for someone like myself to purchase.
At a low apr or 0
and do you even hear what you are saying. You just came back from a $10,000 trip. Most ppl can’t even do that. That is a luxury what you are doing that most people can’t afford.
Ppl have to pay rent, food, and bills and your talking about a 10k trip paid out right. Yes, if a low income person went on a 10k trip we would be in agreement. What you are not understanding is ppl NEEd a computer to function in the 21st century. Your head is clearly in the clouds skyscraper!
Precisely what I mentioned as well. Those that buy upfront usually lose money than those that buy on instalments. Smart money always win
That is true if the person uses the money not spent upfront, wisely.
I may be wrong but I think that a great majority of people spend the money that they aren't paying upfront rather than investing it
.There are less expensive options that they can save for, rather than financing themselves into inescapable debt. It used to be called living within your means. Instead of financing a $2500 MacBook Pro, get a $500 Windows laptop.
Hence why it differentiate smart people vs finance dummies.
There is a reason why tons of people live paycheck to paycheck and CCs are big part of that. Spending habits play a role too.
Those that were educated early and follow reasonable path will always win long term especially if they get to compounding.
There is a reason why tons of people live paycheck to paycheck and CCs are big part of that. Spending habits play a role too.
Those that were educated early and follow reasonable path will always win long term especially if they get to compounding.
That is true if the person uses the money not spent upfront, wisely.
I may be wrong but I think that a great majority of people spend the money that they aren't paying upfront rather than investing it
Hence why it differentiate smart people vs finance dummies.
There is a reason why tons of people live paycheck to paycheck and CCs are big part of that. Spending habits play a role too.
Those that were educated early and follow reasonable path will always win long term especially if they get to compounding.
Agreed, but I think most people are uneducated in finance rather than smart or dummies.
As a general rule, I believe that these type of people would be safer paying upfront.
People who think you shouldn't be in debt to invest in higher rewards clearly don't have the brains for business. Do you think Apple would be where they are now if the three guys in a garage didn't borrow money, let alone Microsoft's 1997 investment when they were on the brink of bankruptcy?
These people talk like they know what success looks like. People are talking like..."Look at me paying off my credit card every month!" and "I just came back from vacation on my fully saved-up funds!" Cringe.
These people talk like they know what success looks like. People are talking like..."Look at me paying off my credit card every month!" and "I just came back from vacation on my fully saved-up funds!" Cringe.
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I completely agree with your financing argument. Also, I stopped reading at this post because similar reasoning kept coming up.
Apologies in advance if someone mentioned this after. What about the nice bump in one’s credit score paying off these devices with just dividing up the total amount due by 24 with no interest?
💡 So that’s why prices keep rising these days! /s
Hasn’t some kind of financing, be it through a cell carrier or bank/cc, always been available for iPhone? If we could flip a switch and eliminate those options, I reckon sales of Apple products would start taking some considerable hits.
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A computer you need for work is a business expense. I talk about consumer products. A computer for work pays back. Consumer products do not. And there is something wrong with a country if poor people have to buy a computer for school. In Germany the school has to take care that even students from poor families get their iPad for school.
Having a new computer for your entertainment and daily life is a luxury. A used $100 notebook from Ebay will do the job. Apple products especially are a luxury. If you a short on money, you should not buy Apple products at all. Financing is just a psychological trick by companies to make a price seem low. $2,400 seems a lot of money for a MacBook, but $100 per month for two years does not look so scary. You get a brand new notebook and the first payment is just $100. That leads people into debt. Imagine those people lose their job. Then they still have to pay the $100 and it will be difficult to sell a used MacBook.
In Germany we say "First the work, then the joy". That means that you first earn your money and then spend it. If you finance stuff, you get into a downward spiral. For 24 months you have $100 or so less per month that you could have saved for a future purchase. If that costs interests on top, the deal is even worse.
For rich people the calculation may be different. For them it might even make sense to finance stuff, because it frees some money that they can invest for up to 24 months. That's why even billionaires often do not buy luxury items in cash, but finance them.
A conservative return for you is 10%? Where are you putting the money? Laundering for cartels? Any legit company that promises that return is selling junk level debt.
No. When the iPhone launched, it was $600 and you had to pay out of pocket.
Financing was introduced because Apple wanted to keep bumping the price higher and higher with more premium models to the point that many people simply wouldn't be able to afford it, and no rational person who actually could would lay out that much up front.
Over the past 6-7 years, the strategy has largely worked with the Plus, then more recently, Pro Max models becoming some of the increasingly most expensive; yet also, best selling models.
100% correct. Any person who’s insisting if you can’t pay upfront you have no business making the purchase is either being intentionally misleading or knows nothing about what they’re talking about.
That money in my own accounts and investments makes me more money than in Apple’s.
It’s the long run aggregate that matters. The market has been on a bull tear for the past couple of months. Any portfolio can show strong double digit or even triple digit returns over a selective timeframe. Example say if NVDA was one of your largest positions in a portfolio then you could post a 100%+ gain YTD.
All of my investment portfolios are showing double digit returns YTD. Over the long run meaning decades 8-12% is the reality. Consistent returns of over 15% over the course of decades requires Bernie Madoff levels of criminal talent.
Or the person that has 10k, uses their Apple Card, gets 3%, pays it off in 45 days, and makes payments in their account at 5% to pay themselves back. The key point, never buy any discretionary item one does not have a 60 or less payoff cash available. Nothing in this world is zero interest loans.