Talk about a classist statement right here. You're going for your MBA, you aren't on the same level as the majority of students. A $1,000 price point is not easy for everyone.
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Best Buy's 'Upgrade+' Program Lets Customers Get a New Mac Laptop Every Three Years With Monthly Financing
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I work at a university and the amount of students that have a top end MacBook Pro that don't even know how to use MacOS is staggering.
Options are good. I don't see why anyone is mad about this. They aren't making this the only way to buy MacBooks or anything.
How dare Best Buy force these kids to be responsible for themselves! The nerve!
While I appreciate the TVM point here... That's not really how it works. Sure, you're right the TVM of the payment logic is sound... but it really only applies if you're using the money for something else. That first 30.00 invested is worth more than the 30.00 payment for sure. But the difference between the two in terms of monetary value (inflation considered) over 3 years is negligible. Additionally, you're not really "buying" anything. You're "renting" something... like you rent an apartment. Other than being able to upgrade and the value of the "use" there is no real monetary value here. You don't really "own" the computer in a traditional sense. For the average person, you're better off buying outright within your means. You'll get a better deal because you can find a sale... and when you're ready to trade in you can sell your used equipment much higher than the fake "trade in value" the company will assign to the equipment. Now from a business standpoint... it makes more sense because it's more like investing in tech that will be used by employees to make money. The average person is not likely to use their computer to make money.
Perhaps but most people are pretty stupid when it comes to finances or knowing how to manage money. And these are the kids going to college taking loans they can’t pay back. Lol. Why stop there. Get the Mac. Laugh later when hopelessly in debt.
MR always, inexplicably get triggered by any sort of financing of Apple products. Been that way for years. You would swear everyone here is paying cash for iPhones and Macs, absolutely never financing anything and for sure paying their Apple Card balance in full every month....
I'm not sure why there's so much hate for this program here either?
When you're given a no-interest loan like this, it frees up your money to potentially be invested elsewhere so you come out ahead of just handing all of it to a store up-front.
I know that's not what's going to really happen in many cases, because people taking advantage of this offer are often strapped for cash already. But these days, a good computer is almost a necessity. A quality laptop (Mac or otherwise) should be expected to last you 3 years without any problems. So paying for it in these small installments doesn't seem too bad to me?
If the final, larger payment isn't made, I assume they'd lose the laptop (just like a lease on a car where you either pay the remaining amount shown to "buy out" the lease, or you turn it back in).
Even from Best Buy's perspective, this seems smart. Best Buy is struggling to stay relevant and there was recently some conjecture that if they didn't meet certain sales expectations/targets for this holiday season, they very well might go under. They're pretty much the last standing "electronics and computer" retailer. (Yes, you have places like Micro Center but they're far more limited in the number of cities they're located in, and they don't deal in appliances except for flat screen TVs. Certainly won't sell you a car stereo.)
A few grand isn't much for those who live on their student loans. For those who borrow responsibly (yes, this can be an oxymoron) it's tough. Try getting a personal loan for $3k as a highschooler without a job and time how quickly you get laughed out of the bank, supposing your parents don't cosign. When it comes to a federally-backed financial aid system, with money printed outta thin air, go ahead and borrow to your heart's content. Heck, you may not even have to pay it back years down the road with "forgiveness", get rewarded for your irresponsibility!
Resale value of 3-year old Macbooks are much higher than the final payment. That said, if your intention is to purchase the Macbook with 0% interest for 3 years, it sounds like a good idea?
You don't have to trade it back to them and take the waived final payment. You could make that final payment and then sell it yourself if you wanted to instead.
Of course it benefits the store and/or bank. It always will. No company does anything for you out of the goodness of their heart.
0 percent financing with a rollover option? There's no reason not to do this. You can pay up front, but it's better for you (due to inflation) to pay over time because each $$ is worth less next month.
The thing is, my machines last for 7 years. But 3 year rollovers? That'd be OK too.
They're assuming people will miss a payment. If you don't, then this is gold. I'm in.
The thing is, my machines last for 7 years. But 3 year rollovers? That'd be OK too.
They're assuming people will miss a payment. If you don't, then this is gold. I'm in.
This is perfect for me.
I’m still using a 2013 MBA. But is finally starting showing its age.
Can I afford to buy one outright? Yes. But for interest free, paying in 36 payments is not a bad idea at all. I don’t plan on upgrading or reselling after 3 years.
I’m still using a 2013 MBA. But is finally starting showing its age.
Can I afford to buy one outright? Yes. But for interest free, paying in 36 payments is not a bad idea at all. I don’t plan on upgrading or reselling after 3 years.
for sure -Sounds interesting. Care to share if you can find it?
Since some people need to hear this: most of you don't need a new MacBook every three years. Consider very carefully before you agree to indefinitely divert a portion of your income for anything, ever.
There’s good debt (where the return is greater than the fee [interest rate]) and bad debt (where the return isn’t greater than the fee).
There’s surely an argument whether an older computer would work or not, but I do t think there’s an argument to be made that education and it’s related expenses aren’t a good investment most of the time.
I took 150k for tuition and living expenses and it’s more than paid off. So much so I’m taking another 32k 15 years later.
Seems like a good program without too much fine print to worry about. The biggest downsides are that you have to finance the full retail price of the MacBook (can't take advantage of any current sales or promotions) and AppleCare+ is not included. The addition of AppleCare+ would have been a nice incentive to use this program, but not a deal breaker I guess.
That’s not journalism you’re proposing. But macrumors is a blog so not like it matters.