Apple Discontinues Financing Options in the United Kingdom

[Dino F]

How will the iPhone upgrade program work as it relies on Barclays financing

...yea, I don't understand this either as the IUP relies on Barclays to finance your phone??!?

Just had another look as I already have a PayPal credit account; when you choose PayPal as the payment method it allows you to choose that over a Credit/Debit card....

Didn’t continue but am guessing it’s still an option?

That transaction will just be processed through PayPal and then PayPal just withdraw the funds from your bank account so its not actually done via PayPal Credit.

i.e. I have my current account linked to Paypal. If I choose PayPal at the checkout, when ordering Apple products on their website, it won't go via PayPal Credit anymore - PayPal just withdraw the funds from my linked current account.

 

[mrklaw]

has IUP disappeared from online? thats a pretty big change if so

 

[GarethR]

...yea, I don't understand this either as the IUP relies on Barclays to finance your phone??!?



That transaction will just be processed through PayPal and then PayPal just withdraw the funds from your bank account so its not actually done via PayPal Credit.

i.e. I have my current account linked to Paypal. If I choose PayPal at the checkout, when ordering Apple products on their website, it won't go via PayPal Credit anymore - PayPal just withdraw the funds from my linked current account.

You can still choose to fund the transaction through your existing PayPal credit though which won't come directly from your bank. Once you have PayPal credit it works essentially as an online only credit card.

 

[pete2106]

I was gonna buy a new iPad Pro for University later in the year when they announce he new models and I was gonna use the finance to pay it off. Gonna have to start saving now.

 

[ensee]

We're due a price revaluation across the board. Locking people into finance today if they're about to adjust prices might be complicated. A pound was worth about $1.31 then the iPhone X launched, but was up about $1.43 last week - so we're overpaying by about 10%...

The pound might/will be a little volatile over the next year and the pricing needs to include some currency hedging, but a 10% gap isn't a good look. I joined IUP last year and if this holds then the 2018 iPhone X-equivalent model should cost less this time round. Wonder if that means they have to re-adjust payment rates etc.

There was also the story that Apple was in talks for a consumer financing deal with Goldman Sachs - maybe this is about to go live in the UK.

 

[JamesMay82]

Probably some new consumer protection rules coming into force soon. There’s definitely new laws on dealing with customers in persistent debt starting in September although a quick google doesn’t reveal anything obvious related to Apple, but I expect it’s part of a bundle.

If thats the case then they should scrap the iPhone upgrade program as well! I do think its crazy that they positioned these over $500 phones to be upgraded every year.

 

[haydn!]

If thats the case then they should scrap the iPhone upgrade program as well! I do think its crazy that they positioned these over $500 phones to be upgraded every year.

Whilst I personally wouldn't do it, there is obviously a market for it otherwise Apple wouldn't be offering this service. It's not consumer unfriendly either - there are plenty of choices when it comes to how you buy and pay for an iPhone.

 

[arkitect]

Hm.

I wonder if this also means no more financing buying for a business? Small firms find this easier than going to the bank often…

 

[The Game 161]

So no more PayPal credit? Wonder why..

So basically pay outright or you can’t buy

 

[Duncan-UK]

As others have been pointing out where’s the story here? Zero interest (after a modest fee) on a credit card either via purchase or balance transfer is the way to do it. There’s always good deals to be had for new credit cards.

 

[haydn!]

So basically pay outright or you can’t buy

Far from it. If you can get approved for store finance, you're likely to get accepted for a credit card, small load, overdraft... and there are hundreds, if not thousands of each readily available right now. Some within minutes and pretty much all at better interest rates than Apple finance!

 

[Saturnine]

As others have been pointing out where’s the story here? Zero interest (after a modest fee) on a credit card either via purchase or balance transfer is the way to do it. There’s always good deals to be had for new credit cards.

Not everybody can get a 0% credit card with a large enough credit limit to buy something like a MacBook or iMac. I speak from experience!

 

[Bassness]

AH KRCS do 20 month interest free finance with no deposit in their stores - Just got a new 13 Touch bar!!!

Apple has stopped offering financing options to customers in the United Kingdom, as indicated by the elimination of its UK financing page, which was removed from the UK Apple site this afternoon.

Apple previously allowed customers in the UK to sign up for financing on Apple products through PayPal Credit or Barclays when checking out from the online Apple Store. PayPal Credit could be used on purchases with a £99 minimum, while Barclays was available for purchases over £399.

When making a purchase through the Apple site in the UK, there are now no financing options to select at checkout, and the finance pages that were previously available now redirect to the main UK site.

Apple previously eliminated financing options in Canada back in June of 2017, but in the United States, Apple still offers financing through the Barclaycard Visa that includes Apple Rewards points.

Apple also continues to offer financing options for educational institutions in the UK, and financing on iPhones continues to be available through the UK iPhone Upgrade Program in partnership with Barclays.

Article Link: Apple Discontinues Financing Options in the United Kingdom