Financing in Canada

Discussion in 'Buying Tips, Advice and Discussion (archive)' started by empvector, Aug 27, 2005.

  1. empvector macrumors newbie

    Joined:
    Jul 18, 2005
    #1
    Hi,

    I am a student in Toronto, Canada looking to get financing for 12" iBook. I would like to buy it with cold cash but my parents prefer financing.

    What is the best place to get it?
     
  2. rock6079 macrumors 6502

    Joined:
    Jan 6, 2004
    #2
    sorry i know you said you want some financing reocmmendations... but to me it really makes no sense (well at least not in these circumstances) to borrow money if you have the money.. anywase i know apple offers financig on their products.. but im not sure exactly how it works.. where exactly in canada are you located.. im pretty sure some authorized resellers also have some financing options but thats in toronto that i know of...
     
  3. durruti macrumors regular

    durruti

    Joined:
    Mar 26, 2004
    Location:
    Jersey
    #3
    yo wassup

    my advice to you (whatever it's worth) is to do what you wanted to do, that is, pay in cash.

    There's no interest you have to pay like when you finance (borrow) it. It's just common sense.

    By the way, Apple Canada has a "back to school" promotion going on.

    http://www.apple.com/ca/education/backtoschool/

    you get a free ipod mini (after they give you the rebate check) if you buy a current model powerbook, ibook, or imac.

    What kind of mac were you thinkin of getting?
     
  4. neocell macrumors 65816

    neocell

    Joined:
    May 23, 2005
    Location:
    Great White North
    #4
    I would setup an apple educational account online, just select your school and put in your info and then bookmark the educational store page and purchase the computer from there. It's the cheapest way by far. And if for some bizarre reason you want to finance it, use your credit card on the site and don't pay it off all at once (have no idea why you'd want to do that though).
     
  5. VanMac macrumors 6502a

    VanMac

    Joined:
    May 26, 2005
    Location:
    Rampaging Tokyo
    #5
    Yes, I agree with all posters above. Pay Cash.

    If there is some reason unknown to us, and you have to finance it, I would get a small loan or line of credit from the bank. You can setup monthly payments, etc, and your parents would have to co-sign. Maybe they are doing this just to teach you about financing or something....
     
  6. empvector thread starter macrumors newbie

    Joined:
    Jul 18, 2005
    #6
    it is very hard to describe the situation, but we definitely need to go for financing. Of course we can charge the whole thing to the credit card, but then it really is not financing (over limit???). So we'd like a financing provided by the reseller or apple but I doubt Apple Canada provides financing.
     
  7. CanadaRAM macrumors G5

    CanadaRAM

    Joined:
    Oct 11, 2004
    Location:
    On the Left Coast - Victoria BC Canada
    #7
    You do NOT want to use a charge card to finance a loan, nor do you want a finance company (like Apple's credirt plan) Both of those approaches charge exorbitant rates of interest.

    Go to your bank or credit union. You can get a loan (or your parents can) at a much more reasonable rate of interest. When my son needed tutition for a course, we set up a $5000 line of credit with my bank (you don't have to use all of it, you only take and are charged for the $ you need) for about 6% interest. This is better than an unsecured loan, which is 12% for amounts less than $5000
     
  8. rock6079 macrumors 6502

    Joined:
    Jan 6, 2004
    #8

    if you must do some sort of financing your best bet is to take a loan rather than actual financing with monthly payments

    as CanadaRAM said, you will likely get the best interest rate and the most securityfrom a bank.. i thought apple canada offered financing but it appears when i go to the canadian online store they don't say anything about financing however the american one clearly says under the specifications of a product .. "as low as $xx.xx per month"

    call up apple and ask them ... 1-800-My-Apple
     

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