Apple Financing On Little But Good Credit

Discussion in 'Buying Tips and Advice' started by KBS756, Feb 9, 2009.

  1. KBS756 macrumors 6502a

    Joined:
    Jan 27, 2009
    #1
    Hey I am wondering if anyone can tell me how likely it is that apple would approve me for financing a machine i badly need a machine to render heavy 3D and Video amoung other things and the mac pro i want for this is gonna cost me quite a lot (i currently dont have too much i can put down but i will be earnin enough to pay off one in 6 months the problem is i need one now)

    according to free credit report.com i have a 710

    not one blemish on my credit but the only 2 things i have on my credit are my bank account and my 465 a month car payment (started in september havent been late at all).

    what are my chances of gettin aprooved for credit from apple?

    My problem is I really need a comp ASAP as i have work right now on me so i cannot even wait till i can save up enough.

    if someone can give me a realistic idea of whether or not i would get aproved for a purchase someone within the area of 6800 dollars with tax?

    im only 18 so i dont exactly have a long credit history ....

    if apples financing would not work could someone give me a possible other solution to my problem?

    Thanks in advance
     
  2. GGJstudios macrumors Westmere

    GGJstudios

    Joined:
    May 16, 2008
    #2
    The only way to know for sure is to apply and find out. Like every other bank, they don't reveal their approval criteria. One other option is don't try to start out such an expensive choice. Start with something you can afford.
     
  3. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #3
    the thing is i can afford it ... just not all at once i am sure i can pay it off within 6 months ...

    are there any alternatives to apples financing which i could try?
     
  4. GGJstudios macrumors Westmere

    GGJstudios

    Joined:
    May 16, 2008
    #4
    Well, if you have to finance it, you can't afford it now. My point is, if you start with something that costs a lot less, you may be able to afford it now, without resorting to financing. Any bank or finance company will approve or deny an application, based on their own criteria, which is usually very similar: credit rating/score, employment, stability and amount of income, etc. I would expect them to be more strict in the current economic climate.
     
  5. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #5
    cheaper range = an imac which doesnt do much for me as i need a powerful machine not a machine that runs laptop chips ...
    my current 17in macbook pro isnt cutting it i need a computer specifically for the powerful stuff ...

    so i am askin besides bein cheaper is there a way
    like does apple approve those with not enough but on a higher interest rate?
    thanks in advance

    employment is a bummer if thats a criteria ima self employed freelancin graphic design, webdesign (flash and html mostly flash though), video edditin and effects, and teaching myself 3d which i will be needing to do very soon...
    but i do earn somewhere in the ball park of 3k a month free lancing which is good for now since i do not have any other bills to pay but my car and gas.

    thanks again if anyone else has advice
     
  6. sickmacdoc macrumors 68020

    sickmacdoc

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    Jun 14, 2008
    Location:
    New Hampshire
    #6
    Agreed with the above, and not that it really matters but so you know- when you apply for a card on the Apple site, Apple themselves have nothing to do with it. You are actually applying to Juniper Bank for a standard Mastercard so it is their policies and criteria that matter. The card itself is just white with no Apple logo or anything. I got one about three years ago for just my tech purchases.
     
  7. GGJstudios macrumors Westmere

    GGJstudios

    Joined:
    May 16, 2008
    #7
    Mine is all black. I've never seen a white one! That's cool!
     
  8. sickmacdoc macrumors 68020

    sickmacdoc

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    Jun 14, 2008
    Location:
    New Hampshire
    #8
    Figures! :D I think I see the difference though after looking at the ad- when I got mine it was a Mastercard (and the new one I got recently is still white), and now they are offering Visas. Must be a brand thing. ;)
     
  9. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #9
    i applied but they told me it could take up to 10 business days to tell me (i didnt even tell em how much i wanted just applied for the card) anyone know how this is gonna work?

    and what bein made wait a bit means
    ?

    thanks in advance
     
  10. Demosthenes X macrumors 68000

    Demosthenes X

    Joined:
    Oct 21, 2008
    #10
    I'd be surprised if you get approved for that large a credit limit on a Juniper, although it sounds as though you should get approved. My first CC when I was 18 had a $500 limit... my university CC had a $2000 limit.

    Do you have an incorporated company that you do your freelance work through? For tax reasons, I think you'll probably want to, but I'm no expert on how freelance contracting works.

    Anyway, my point is, you'll probably need to go into a bank and apply for a loan or line of credit to get the amount you need. If you go in as a business, with a detailed business plan and revenue statements etc., you'd stand a better chance than going in as an individual who wants to buy a computer.
     
  11. stainlessliquid macrumors 68000

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    Sep 22, 2006
    #11
    Apple doesnt do financing, its just a high rate credit card, you arent guaranteed a limit that can cover the cost of what you want. You can get a card with better rates anywhere and with a much longer "no interest" period.

    If you make 3k a month and only have to pay for a car payment then why cant you just pay cash? It seems like you should have way more than enough in savings, if this is your first month of doing freelance then getting a car and an expensive computer seems risky, how do you know you will continue to get enough work to pay for this stuff?
     
  12. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #12
    well i also pay my college tuition so 6k of savings lost there
    i have about 2 k saved now

    i have 3 pending projects this month at least 2k each of which 1k each is mine (but i need the comp to do 2 of these)

    and i also have an arangement with my father if i do other work for him he will pay for my computer (hellish work but its worth it)
     
  13. fa8362 macrumors 65816

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    Jul 7, 2008
    #13
    I'd focus on that.
     
  14. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #14
    my dad will only pay if financed as well he cant pay me the whole thing upfront ....
     
  15. sbauer macrumors member

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    Feb 7, 2009
    Location:
    Baltimore, MD
    #15
    I don't think there's a chance you'll get approved for $6000. Honestly, I'd be surprised if you got $1000. Your dad is a different story, though. It takes years to get good credit, but one stupid thing to destroy it.
     
  16. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #16
    does anyone know if apple leases to individuals?
     
  17. Demosthenes X macrumors 68000

    Demosthenes X

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    Oct 21, 2008
    #17
    See if he'll co-sign on a bank loan or line of credit. You'll get a better interest rate than on a credit card, and if you continue to make money the way you predict, you'll have it paid off pretty quickly anyway.

    You said you're a student - I know my bank has a specific student line of credit, if your bank has a similar program then I'd say you have a pretty good chance of being approved, especially if your dad co-signs.
     
  18. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #18
    him or my mom cosignin isnt an option my credit score is far higher then theirs about 100 points higher...
     
  19. jackiecanev2 macrumors 65816

    jackiecanev2

    Joined:
    Jul 6, 2007
    #19
    You are more than likely not going to get anywhere near the line of credit that you need for a MP from Juniper. Your best bet would to be to get a credit card through your bank; if you have a good history with them, you are more likely to get approved for significantly more if you get an in-house Visa or MC. However, I'd say at 18 you'd be hard-pressed to get a 5k+ loan from ANY bank with your credit score, history, and the market in it's current state...

    But for your options, bank-issued Visa > Juniper.
     
  20. KBS756 thread starter macrumors 6502a

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    Jan 27, 2009
    #20
    I applied for a bank credit card they told me 24-48 hrs ....

    i currently do have 1900 i can put down ...
     
  21. aristobrat macrumors G4

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    Oct 14, 2005
    #21
    Best Buy sells Mac Pros and usually has 18-months no interest if you use their credit card.
     
  22. gan6660 macrumors 65816

    gan6660

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    Aug 18, 2008
    #22
    Dude, there only going to approve you for a few hundred dollars.
     
  23. cawesjmu macrumors 6502

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    Apr 4, 2004
    Location:
    Richmond, VA
    #23
    Worst. idea. ever. co-signing for anyone, even your family, is a terrible idea. Instead of ruining one persons credit, you get to ruin more peoples. And 456 dollar car payment??? That's why you can't afford the computer. Sell the car, buy a beater, and with the difference, buy the computer outright. Macs are cool but not worth going into debt for.
     
  24. rhyx macrumors 6502

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    Jan 15, 2008
    #24
    Sounds like you need to save up. Or go for something like Best Buy. Just remember if you don't pay it off you are going to be in worse trouble.
     
  25. Demosthenes X macrumors 68000

    Demosthenes X

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    Oct 21, 2008
    #25
    :rolleyes: There is certainly something to be said for avoiding debt. I'm not big on going into debt, either. But we're not talking about going into debt on a computer because the OP wants a fancy system. We're talking about making an investment in one's future.

    If the OP was buying a Mac Pro to surf porn and send email on you, I would agree 100%. But that's not the case - the OP wants a machine he can use for his work. Any businesses, be it a multinational or a freelancer, must make certain capital investments in order to be able to operate. And sometimes those capital investments require going into debt.

    It's the old "you must spend money to make money" thing. Only in this case, you need to borrow money to spend money to make money. ;)
     

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