Exactly. You can invest and grow the remainder of the “pay-off” over time, keeping the money in your pocket and growing with interest, too. In addition, with the way inflation is going, this is an excellent value for those who are disciplined.
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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 had no parental support for college and needed a computer. I bought a computer on a credit card with 20% interest because I had to. Do you think I paid it off the same month? No. Could I have gone without it and just gone to the library, or found a used computer? Maybe. But not today. An interest-free payment plan for a computer would have saved me a LOT of money.
I've been waiting for Apple to offer this program for a while beyond just the 12 months payments they offer today with a computer purchase. I've gotten more into BestBuy the past 2 years thanks to their TotalTech program ($199 a year).
I'd like more flexibility though such as 12 and 24 month options. I upgrade my computers every 2-3 years but sometimes sooner when a compelling upgrade happens (like when the M1 came out). I've always sold my computers on eBay but as I get older, I'd consider just returning it to them and upgrading.
This may be interest free but the program is very similar to a balloon payment which is actually illegal where I live in New Hampshire, USA. Companies that offer very low payments with a balloon at the end of term can't be offered here. I wonder if BestBuy can even participate where I live?
I have done VERY well selling computers after 2-3 years. I always buy CTO machines in the $3K-$4K range and usually sell them for $1500-$1900 after 3 years. That alone would not keep me from participating in this program because I could list the machine for sale at month 35 and then pay off the computer with that final payment and pocket the difference. All I did was free up money throughout the loan by only paying for it incrementally.
I think people who are in different financial situations can still use this. But I'd like to see it offered to everyone like Apple business credit. I'd like a $15,000 line of credit and the ability to spend that on anything in the form of a lease. I'd put everything apple on it but for now, it's laptops through Best Buy or 12 month terms through AppleCard. I can spend the money up front but don't really want to deal with that if I don't have to.
Looking at last 12 months of family purchases:
As to the question "why upgrade so often?" because I like having the newest stuff and can afford it. IT doesn't always have to make sense.
I'm digging BestBuy Total Tech. I have AppleCare+ on everything listed above thanks to Bestbuy so it's saved me a LOT of money. I used to attach AppleCare with apple and it was getting expensive. If BestBuy raises the price of total tech, it's probably my fault.
I'd like more flexibility though such as 12 and 24 month options. I upgrade my computers every 2-3 years but sometimes sooner when a compelling upgrade happens (like when the M1 came out). I've always sold my computers on eBay but as I get older, I'd consider just returning it to them and upgrading.
This may be interest free but the program is very similar to a balloon payment which is actually illegal where I live in New Hampshire, USA. Companies that offer very low payments with a balloon at the end of term can't be offered here. I wonder if BestBuy can even participate where I live?
I have done VERY well selling computers after 2-3 years. I always buy CTO machines in the $3K-$4K range and usually sell them for $1500-$1900 after 3 years. That alone would not keep me from participating in this program because I could list the machine for sale at month 35 and then pay off the computer with that final payment and pocket the difference. All I did was free up money throughout the loan by only paying for it incrementally.
I think people who are in different financial situations can still use this. But I'd like to see it offered to everyone like Apple business credit. I'd like a $15,000 line of credit and the ability to spend that on anything in the form of a lease. I'd put everything apple on it but for now, it's laptops through Best Buy or 12 month terms through AppleCard. I can spend the money up front but don't really want to deal with that if I don't have to.
Looking at last 12 months of family purchases:
- M1 MBA
- M1 Max MBP
- M1 Pro MBP
- iPad Pro 13" M1
- iPad Pro 11" M1
- iPhone 14 Pro Max
- iPhone 13 Pro Max
- AirPods Pro 2
- AirPods Max 2
- Apple Display
- Apple Watch Ultra
- Apple Watch series 7 Aluminum
As to the question "why upgrade so often?" because I like having the newest stuff and can afford it. IT doesn't always have to make sense.
I'm digging BestBuy Total Tech. I have AppleCare+ on everything listed above thanks to Bestbuy so it's saved me a LOT of money. I used to attach AppleCare with apple and it was getting expensive. If BestBuy raises the price of total tech, it's probably my fault.
If someone can afford 30 bucks a month for something they need for their work or education and the debt is not drawing interest then frankly what business is it of yours, nanny?
Not necessarily. Do you think Best Buy pays the same for a MacBook as an individual person?
Example:
An item costs you $10 to buy. Best Buy gets it at $5. They sell to you at $7.50, are you losing money by purchasing from Best Buy?
Buying outright within your means can also be a great way to stay poor. It's like the story of the guy who didn't have enough money to buy good work shoes so he had to keep buying cheap ones, spending more money in the long run than a wealthy man who could afford high quality work shoes.
For some reason when poor people borrow money it's irresponsible but when wealthy individuals do it they call it an "investment."
The idea of directly exchanging money for a product in a slightly different way than usual has apparently broken your brain.
Functioning adults can look at the price and decide on a payment method that makes sense. Functioning adults can decide to make the final lump sum payment and continue using the laptop that they haven't paid any interest on.
The problem with that though is that the markup / break on "electronics" at stores like BB is painfully small. It's why they don't have more sales more often to undercut the manufacturer. They need to find ways to "undercut" or compete with other resellers. One way to move units is early discounts like Adorama & such, or in this case use supposed convenience.
So in this case the item may cost you $10 to buy. Best Buy may get it at $9, along with other resellers. To insure that BB can move their units compared to a B&H or Adorama, they will cook up such plans as this to encourage a customer to buy with them over another.
When I was in retail it was explained to me that it isn't the product itself where profit is made, it's in other sales made while the customer is in store or begins to frequent the store. So in the case of printers ( at that time the store manager claimed they only made $15 on a printer. It's a reason why things like Apple products are often NOT included in discounts, because the discount eats what little profit there is ), printers were not the sales driver, but paper for the printer was. In video game consoles it isn't the early console where the company makes the money but the games & peripherals. For Apple products I imagine it's the same with sales people offering that a case maybe needed, a cover a protection plan, and so on.
Are you claiming that a 2017 base Air is equal to a 2020 M1 base Air.
iPad is a different story but still your point is pretty pointless.
So for the 14" that's $1559 over 36 months and you don't get to keep the machine unless you pay the full $1999. Or, you can buy it at the current sale price of $1599 right now from Best Buy and keep it.
Right. This is more designed for people who can't pay $1999 or $1599 right now but can pay it over time.
This isn't for me, but I can see the appeal of getting 0% financing and effectively a guaranteed trade-in value at the end. Feels a lot like how cars are being sold now (in the UK at least).
Obviously it's a lot easier for some people to find $20 a month than $999 up front.
Obviously it's a lot easier for some people to find $20 a month than $999 up front.
This ends up being cheaper per month than using the Apple Card doesn’t it?
Using the MacBook Air, it’s around $100 a month. Looking at the terms here with Best Buy, the highest you could pay each month is $39?
Would be nice if apple allowed 24 months for their apple care
Using the MacBook Air, it’s around $100 a month. Looking at the terms here with Best Buy, the highest you could pay each month is $39?
Would be nice if apple allowed 24 months for their apple care
Americans have got to stop buying more than they can afford just because someone is offering a "way to do it"
A lot of people with money buy things like this if the interest rate is 0. Why spend $2k now when you can pay the same over time and use the majority of that $2k elsewhere right now?
Why? Zero-interest payment plans are a really easy way to build your own equity slowly and improve your credit.
Hmmm... Pay $x per month for 36 months and walk away with nothing, or pay the final payment and keep the machine which you can then sell on and recoup some of your money? Hmmm.
No, they're claiming MOST people don't need to upgrade a computer every 3 years. And for most people, they don't. They may want to, but if your computer is crap after 3 years, you bought the wrong computer to begin with.