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macbook on finance?

O

OliverOSX93

macrumors regular
Original poster
Jun 26, 2010
192
0
Accrington
I want to get a macbook but the only way it seems I can afford it is with the pay weekly finance option.

how long will it take to pay off the cost of the macbook and how much extra will I end up paying?
 
Assuming you're looking at the Apple financing on the UK store it says

"36 months at 14.9% interest
Typical 14.9% APR"

Note that's typical: not everyone get's that rate. If you are a poor credit risk then you will pay more than that.

This seems to jibe with you're £30 a month thing as the example they give is "Finance agreement of £1000, 36 monthly repayments at £34.14". This example assumes their 14.9% typical APR. Over the 3 years this equates you you paying a total of 22.9% more than the purchase price. So on a £849 MacBook you'd actually pay £1043.42.
 
robbieduncan said:
Assuming you're looking at the Apple financing on the UK store it says

"36 months at 14.9% interest
Typical 14.9% APR"

Note that's typical: not everyone get's that rate. If you are a poor credit risk then you will pay more than that.

This seems to jibe with you're £30 a month thing as the example they give is "Finance agreement of £1000, 36 monthly repayments at £34.14". This example assumes their 14.9% typical APR. Over the 3 years this equates you you paying a total of 22.9% more than the purchase price. So on a £849 MacBook you'd actually pay £1043.42.
Click to expand...


ah I understand, thanks for that:)
 
If you want my advice i would save up and buy it as opposed to getting credit. Not that there is anything wrong with credit pre se but unless you fully understand how it works and what happens if you miss a payment then i would avoid.

That same MacBook can be had off amazon for about £779 pounds. Thats £71 pounds saving straight away, and nearly £300 if you took the finance option.
 
AAPLaday said:
If you want my advice i would save up and buy it as opposed to getting credit. Not that there is anything wrong with credit pre se but unless you fully understand how it works and what happens if you miss a payment then i would avoid.

That same MacBook can be had off amazon for about £779 pounds. Thats £71 pounds saving straight away, and nearly £300 if you took the finance option.
Click to expand...

my gran is offering to get it me on finance I was just wondering how much more it would be in the long run.

(also I probably should have mentioned it was my gran and not me paying, sorry about that I wrote "me" out of habbit)
 
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