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Does anyone buy Mac products, pay monthly and sell them brand new?
- Thread starter Legion103
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You're saying keep the product unopened and try to sell it as new? The problem with that is it would be without the one-year warranty, which begins on the original purchase date. Why would you think anyone would want to buy one of these when they could buy new or an Apple refurb with a one-year warranty?
let’s say a new MacBook costs $1500
Finance it for 12 months (pay whatever per month) and then sell it for a little less than 1500.
Then you lose the difference, and the purchasing party is losing the full warranty as Namara says. - It's basically a lose-lose. You're basically taking a small loan, and honestly I would highly recommend rethinking your financial choices instead. I mean there are sometimes situation where you need a bit extra here and now and are willing to make a small loss later on for it, and perhaps this will be a better way around that than the usual loan interest, but if you can, just wait until you can afford things without doing stuff like this. You won't have to lose the difference between the purchasing price and your selling cost.
I don't understand the business proposition. You buy something and sell it at a loss. A small loss, but it's still a loss. What's the point? There's no profit, so is there something else you hope to gain?
If the plan is to give money away and also have an outstanding debt on a credit card, there are simpler ways to achieve that goal.
If the plan is to give money away and also have an outstanding debt on a credit card, there are simpler ways to achieve that goal.
I dont get the business plan? So you never open and enjoy the product yourself and furthermore you sell the unopened device for less than $1500, while you are on the hook for the entire $1500 to Apple Card???
With interest rates on deposit accounts still below 1/10th of a percent, you'll gain nothing with this plan.
so basically you’re financing it for 12 months and taking a slight loss, while obtaining a 1400 or so immediate payment.
I don't think you understand the resale market, no one is going to be willing to pay you (or anyone) the same price that apple charges, regardless if the Mac you're selling is NIB. Plus, what advantage is it to you to buy it interest free on a credit card and then turn around and sell it for the same amount? Even if you could do that, it makes little financial sense to tie up your money like that.
I'm not sure about the details of the apple card, but if its like any other card, if you're late on a single payment, then the interest free option disappears and all accrued interest (from the date of purchase to the current period) is added on, so there's measure of risk in doing what you're proposing, just to get your 1,500 dollars back
great point, ideally could sell it for 1350-1400? It then becomes a loan basically for 12 months.
I'm not sure, but say for the sake of argument, say you buy a Mac on an interest-free credit card just for the idea of selling it as NIB. You buy it for 1,500 and then sell it for 1,400. You just lost 100 dollars for no good reason.
If you open the Mac and start using it, then of course the price goes down, but then the dynamics of what you're doing is changing, that is recouping some of your money so you can put it towards a newer mac. You will still lose money, i.e., never get back what you put in it, but at least you lesson the blow of spending another 1,500.
If you sell it for $1350, then you lost $150 on a $1500 transaction. So you've just paid what amounts to a non-refundable loan acquisition fee of 10%.
If your cash flow is so poor that this idea seems appealing, you're almost certainly going to be better off selling any expensive assets you already own (and have finished paying for), such as phones or other electronics.
Why would Apple/Goldman-Sachs NOT deduct the full amount from your credit limit? If you have a $6000 limit, how many times do you expect to be able to finance a $1500 item? Not a trick question - the answer is FOUR unless other factors enter in - like running up your credit card balance begins to make you a bad risk for the credit card company.
In the absolutely best case scenario, after all of this, you break even. Realistically, you will have lost $500-1000 on this scam.