Apple Loan

Discussion in 'General Mac Discussion' started by Mr. Anderson, Jun 7, 2003.

  1. Mr. Anderson Moderator emeritus

    Mr. Anderson

    Joined:
    Nov 1, 2001
    Location:
    VA
    #1
    Anyone do this recently? I'm comtemplating it for my new machine when the 970s come out - but I'm not sure. I could put the whole thing on a credit card, but with what I'm buying it would be a bit much.

    And I have other options, I'm just interested in finding out what peoples' experiences are with the thing.

    Thanks,

    D
     
  2. trebblekicked macrumors 6502a

    trebblekicked

    Joined:
    Dec 30, 2002
    Location:
    Chicago, IL, USA
    #2
    IMO, apple loan isn't competitive w/ interest rates going around today. the only upside is easy credit for people with maxed out credit cards. i bought my quicksilver with the instant loan. the rate they quoted me at purchase was 12%, but the rate on my first bill was 24.99%. the next morning, i transfered the balance to a 0% 12 month credit card. i couldn't pay it off in a year, so i transfered it to another card when the 0% was up. if you play your cards right (no pun intended or achieved) you can get the new machine interest free. but not if you stay with the apple instant loan.
     
  3. macktheknife macrumors 6502a

    macktheknife

    Joined:
    Jan 24, 2002
    #3
    Check your FICO score. If you have a very good score, you should be able to get a pretty low rate on your credit card. My current APR on my card is about 9.99%, although some companies have offered me an APR as low as 7.99%. I have another card that has 0% APR through November 2003.

    If you are looking for a longer-term loan with a fixed APR, check your local credit union. They usually offer competitive rates. I spoke to a representative at my local credit union and he quoted me a flat rate of 7% for a $3,000 personal loan.
     
  4. Captnroger macrumors regular

    Joined:
    Aug 12, 2002
    #4
    Apple loan = high interest, but slightly easier to qualify for than a low-interest Visa/MC/Discover.
     
  5. The Shadow macrumors regular

    Joined:
    Mar 25, 2003
    Location:
    Sydney, Australia
    #5
    Fabulous!
     
  6. DakotaGuy macrumors 68040

    DakotaGuy

    Joined:
    Jan 14, 2002
    Location:
    South Dakota, USA
    #6
    The problem I have had with Apple Loan is they are through MBNA. MBNA is the worst credit organization I have ever worked with my entire life. I will not publish the entire story here, let's just say, a bad company.
     
  7. pseudobrit macrumors 68040

    pseudobrit

    Joined:
    Jul 23, 2002
    Location:
    Jobs' Spare Liver Jar
    #7
    MBNA sucks. Stay away. Do it through your bank or, better yet, a credit union. If those aren't options you like a credit card with a low interest rate is the way to go.

    They gave me some BS 23.99% when my credit was absolutely perfect and I was getting offers for 8.99% (permanently) cards.

    It was supposed to be something around 14%. It sucks. You don't know what your interest rate is going to be until you get your first statement, i.e. after you have the Mac.
     
  8. destroyboredom macrumors 6502

    Joined:
    Dec 16, 2002
    Location:
    Washington, DC.
    #8
    I bought my iBook this way, when they had same as cash for 180 days(interest free)...couldn't pay it off in that time so just took a personal loan from my credit union. 20 something % from mbna compared to about 10%.

    Go with a personal loan or an interest free credit card.
     
  9. Mr. Anderson thread starter Moderator emeritus

    Mr. Anderson

    Joined:
    Nov 1, 2001
    Location:
    VA
    #9
    Thanks for all the replies - I'll probably go with a credit card if that's the case. Pretty crazy rates!

    As a home owner I won't have a problem getting a decent rate. Thanks.

    D
     
  10. ZildjianKX macrumors 68000

    ZildjianKX

    Joined:
    May 18, 2003
    #10
    Apple, competitive? LoL

    Sorry, I have to rant...
    Non competitive speeds, price, loans, warranties, lol.

    Anyways... for all the college students out there, use a student loan if at all possible.
     
  11. alia macrumors 6502a

    alia

    Joined:
    Apr 2, 2003
    Location:
    Orlando, FL
    #11
    It's not just Apple that uses MBNA. A lot of major companies do. I got a Vaio through PC Mall and they use MBNA as well.

    I am in whole-hearted agreement with you about the student loans. That's how I intend to buy my Powerbook. The rates are insanely low right now.

    Alia
     

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