M5 Studio base pre-ordered using Apple Upgrade lease

[JesterJJZ]

Do you know what information they asked you in the application?


Did they require any photo ID or face verification?

It was basically a standard Apple checkout. Then after it was approved I got a prompt to do a veryfy thing with ID and face scan.

 

[4sallypat]

It was basically a standard Apple checkout. Then after it was approved I got a prompt to do a veryfy thing with ID and face scan.

How much were you approved for ?

 

[mk313]

Depends who you are and your work demands. I generally hate the idea of leasing. But this isn't quite the same.

I would generally buy a new system every 6 years or so. Spending about $10,000 on it. Video editing, FX, Compositing etc...

That's a pretty big chunk of change to let go of in one go.

For $230/mo I can get that same $10k system and swap it out for a better one every 3 years.

Farting around for a couple hours before lunch for one day a month pays for that.

It's less than $8 a day, For an M5 Ulta w/256GB Ram and 2TB SSD.

It's a no brainer for people that need powerful machines and would like to upgrade often.

What you lose in depreciation you gain in flexibility.

I don't care at all what people do with their own money. Especially as a business expense, leasing can make sense. And even if it doesn't, it's not my money, so what do I care.

I will point out that in your example above, when you buy the $10K system & Replace it 6 years later, you can sell the old one & recoup some of the original investment. I have no idea how much, but $2K seems about right, making your total cost $8K

With the lease ($230/month * 72 month), you are paying $16,560, and own nothing at the end, meaning that you've paid basically double what you would have paid by purchasing it.

 

[4sallypat]

I don't care at all what people do with their own money. Especially as a business expense, leasing can make sense. And even if it doesn't, it's not my money, so what do I care.

I will point out that in your example above, when you buy the $10K system & Replace it 6 years later, you can sell the old one & recoup some of the original investment. I have no idea how much, but $2K seems about right, making your total cost $8K

With the lease ($230/month * 72 month), you are paying $16,560, and own nothing at the end, meaning that you've paid basically double what you would have paid by purchasing it.

You can buy out at the end of lease and own it.

Here's mine:

I am also reselling the M1 Studio that's 4 years old for a lot more than what Apple offered to trade in.

At 3x the value of Apple's trade in, I can pay off the lease at the end of term and pay for a year's worth of lease on top of that!

 

[JesterJJZ]

How much were you approved for ?

All of it?