Got the dough?!

Discussion in 'Buying Tips, Advice and Discussion (archive)' started by siLLiLicious, Mar 28, 2005.

  1. siLLiLicious macrumors newbie

    Joined:
    Mar 28, 2005
    Location:
    Arlington, TX
    #1
    Hi everyone!
    My name is Brandon and I have enjoyed reading everyone's posts. I've learned a lot about Apple and now I'm ready to purchase a new Powerbook! :) At the current moment, I'm a broke college student (aren't we all?) and was curious as to how everyone paid for their wonderful machines?! Did you guys pay by credit card, the Apple Loan, etc?! Did you guys pay for your Apple all up front? (cause I KNOW that the best of the best owns Apples right? :)) I want to know what my options are regarding methods of payment. If anyone has suggestions or any advice really, it would be greatly appreciated! Thanks again and see ya around.

    (Sorry if I posted this in the wrong area, I wasn't quite sure where to put this in)
     
  2. Demon Hunter macrumors 68020

    Joined:
    Mar 30, 2004
    #2
    Hi Brandon. :)

    I'm also a college student... since I didn't have a credit card, I used my dads and then cut him a check, since debit cards don't let you kerplunk the account like that. :)

    Basically... worked my ass off from March to September selling smoothies at my mall. It was nice to pay up front, but maybe a little scary seeing all that money gone. Put it on your homeowner's insurance or something as soon as you get it.
     
  3. CanadaRAM macrumors G5

    CanadaRAM

    Joined:
    Oct 11, 2004
    Location:
    On the Left Coast - Victoria BC Canada
    #3
    This answer you won't want to hear: Cash.

    I don't believe in paying exorbitant credit card and AppleLoan interest rates. 'Specially not when you are just starting out. One mistake and you can fubar your credit rating.

    Maybe if you can find an interest free plan that DOESNT have an up front administrative fee*, AND you are 100% positive you can pay it within the interest free period (one day late and you get major interest for the whole thing- which is what the finance company is counting on of course)

    If you Hafta have the machine now, (such as, you have a web production job right now that you can earn money on) get a family member to cosign a bank or credit union loan at lower interest. Don't get sucked into credit card debt.

    Best yet: set the Mac as your goal/reward and earn the money first.

    * Watch those fees. We had a store here offering 6 months interest free, on purchases of $299 and up. The "administration charge" was $40. So if you took their Interest Free option on a $300 purchase, you'd be paying 26% interest :eek:
     
  4. vtprinz macrumors 6502

    Joined:
    Nov 30, 2004
    #4
    Another college student here.

    I don't like making payments, i buy when I have the money in the bank. When I got my ibook I had to have my uncle put it on his credit card (since there's a $1500 limit on my check card) and I wrote him a check. I might do that same thing as soon as the new powermacs come out, though I think I can get my bank to allow a higher purchase if I go to them first.


    Oh, and while I say I don't like to make payments, I'm half lying. Technically I will be making payments for the computer for the rest of my life. The ibook and the soon-to-be-mine powermac are both paid for with financial aid (loan) refunds, so technically I won't be paying for them until after I get out of school...............and then payments forever...
     
  5. Chrispy macrumors 68020

    Chrispy

    Joined:
    Dec 27, 2004
    Location:
    Avon, IN
    #5
    I used a credit card but paid it off at the end of the month because I had the money in the bank :)

    Oh, and I too am a college student ;)
     
  6. h0e0h macrumors 6502a

    h0e0h

    Joined:
    Aug 30, 2004
    Location:
    West Monroe, Louisiana
    #6
    i'm a broke college student too... but i do have a part time job and a credit card w/ 6-months no interest and a $2000 limit, so i bought my 12" and paid it off before that 6 months was up... and am now on my way to establishing great credit...
     
  7. Artful Dodger macrumors 68020

    Artful Dodger

    Joined:
    May 28, 2004
    Location:
    In a false sense of reality...My Mind!
    #7
    Hi, well I work full time and I'm also a full time student so when I was able to work overtime that went to saving for my first Mac (iMac). After that I used a student loan to buy then payed the loan back with part of my taxes plus any intrest for that year. I only did that to get the Mac sooner since it was need for school anyway so 8wks. later it was paid back as I said. Now I just put some money aside when I can and save for a rainy day :rolleyes:
     
  8. topher macrumors member

    Joined:
    May 1, 2004
    #8
    Beware Credit

    Hi...

    Graduated from college almost two years ago, and if I could give advice on money it would be based on the very different approaches I and my girlfriend took, and it would be this:

    If you can get away without borrowing a dime from anyone, DO IT. To walk out of school and have complete financial independence is amazing. The freedoms that you have in college regarding where you might want to go with your life stick with you. On the other hand, if you have to be making credit card or student loan payments, those freedoms shrink quickly.

    Since school without borrowing is nearly impossible...take advantage of student loans. Student loans have ridiculously low interest rates, can be deffered in times of financial crisis (to an extent) and, and this is the best part, the interest is tax deductible. If you can avoid credit cards by taking out "extra" in student loans...DO IT.

    DO NOT (as I did) use credit cards. I went on scholarship and used credit cards instead of student loans...thinking that they would be easy to pay off once I got a job. There is nothing like the sinking feeling that $120 month goes to interest. If you want the machine, find a way to do it that does not involve credit cards...because they are evil.
     
  9. Demon Hunter macrumors 68020

    Joined:
    Mar 30, 2004
    #9
    I was thinking about applying for a credit card at my favourite clothing shop (it can only be used there)... it has a very low limit and I would use it to establish some credit. Do you think that would be a good idea?
     
  10. gallivant macrumors member

    Joined:
    Dec 14, 2004
    #10
    If it can only be used at one store, you're probably not going to get a worthwhile credit rating from it. A better strategy is to just get one of the milloin student cards out there; Chase gave me a Mastercard, for example, that started with a $500 limit and is now up to $1100. I don't ever use it to buy things I don't have the money for that moment, but since I put a couple hundred bucks on it every month, I'm building credit.
     
  11. cr2sh macrumors 68030

    cr2sh

    Joined:
    May 28, 2002
    Location:
    downtown
    #11
    I engaged in 3 years of systematic pilfering and subsequent black market sales of non-traceable goods. The highly lucrative practice payed for my first mac (g4 g.e. 733 with superdrive in 2002) and most of my college education.

    ;)
     
  12. risc macrumors 68030

    risc

    Joined:
    Jul 23, 2004
    Location:
    Melbourne, Australia
    #12
    I paid for my PowerMac G5 using a credit card, which I promptly paid off the next day with money I saved up. I just wanted the points.

    My GFs iMac G5 was paid for with a credit card, which was promptly paid off with cash I'd saved and the sale of her old computer. Same reason as above I wanted the points.

    The PowerBook G4 15" I got a month or 2 back was paid for by my work, under a salary sacrifice agreement where I got it for wholesale pricing and pay it off over 6 months, and my income tax is worked out after the money is deducted.
     
  13. Demon Hunter macrumors 68020

    Joined:
    Mar 30, 2004
    #13
    When you say points, do you mean credit rating or like rewards points?
     
  14. siLLiLicious thread starter macrumors newbie

    Joined:
    Mar 28, 2005
    Location:
    Arlington, TX
    #14
    Thanks everyone for your advice... yeah... I was thinking about finding a credit card with a high enough limit so I can just charge it, but thought that it would just cause me more aggrevation and such so thanks again! :) I guess I'm just going to have to wait for a loan or something then... but I do NOT want to wait! I want an Apple RIGHT NOW!!! How can you guys survive without your Apple? Oh... and last thing... has ANYONE on here tried that Apple Loan thing by chance? Is that a good idea?
     
  15. siLLiLicious thread starter macrumors newbie

    Joined:
    Mar 28, 2005
    Location:
    Arlington, TX
    #15
    If you don't mind sharing... what exactly IS that favorite store by chance?
     
  16. Chrispy macrumors 68020

    Chrispy

    Joined:
    Dec 27, 2004
    Location:
    Avon, IN
    #16
    He means reward points I am sure. I do the same thing to get airline points :)
     
  17. mariahlullaby macrumors 6502a

    mariahlullaby

    Joined:
    Jan 19, 2005
    Location:
    NYC
    #17
    As a high school student, I use my dad's credit card and then pay him back from money that I've saved.
     
  18. Demon Hunter macrumors 68020

    Joined:
    Mar 30, 2004
    #18
    The Buckle. :)

    From what I know of Apple Loan, you have to be careful, after 3 months the killer interest starts to pile up. But if you can pay it in 3 months, it could be sweet...

    If you can find an older Mac to keep you busy... I've been using a PC laptop for the longest time now. I'll just appreciate my Mac more when it arrives. :)
     
  19. siLLiLicious thread starter macrumors newbie

    Joined:
    Mar 28, 2005
    Location:
    Arlington, TX
    #19
    GRRR! Ya guys have to feel me here! I do NOT want to wait any longer for an Apple... true that the longer I wait, the more I'll appreciate it in the long run, but I've had enough of Windows. I'm ready to convert! And thanks for your advice on the Apple Loan, I'm glad that I didn't go through with it.
     

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