Apple Financing

Discussion in 'Buying Tips and Advice' started by o.neill.kid, Oct 28, 2012.

  1. o.neill.kid macrumors member

    Joined:
    Mar 28, 2009
    Location:
    Brockville, Ontario, Canada
    #1
    https://consumercreditapp.com/AFS/terms/afs-en.html

    Hey there, I have a few questions about Apple's Financing.

    I am a student, and working to build my credit. I have enough credit to purchase the new 27" iMac in one full swoop, however I don't want to max it out, and make that look bad on me. My option right now is to use the Apple Financing. However I have some questions about it.

    As the terms are quite short and limited, I was concerned I was going to get screwed over, hence coming here.

    I understand that I have to pay a down payment of $750, if I do that, pay off my credit card, and a week later pay the remaining amount ($1250ish) with credit, am I okay? I don't want to be locked into the three month contract paying a certain amount, or even longer and end up having to pay more for the product then what it is worth.

    I know some financing says you can't pay it back in full until 28 months later, and you end up tripling the price of the product.

    Any help would be fantastic, thanks!
     
  2. MetzoPaino macrumors member

    Joined:
    Oct 24, 2012
    #2
    I've only looked at the financing option once and decided that if I couldn't afford a Mac without financing I should probably not buy a Mac.

    I remember seeing something along the lines of "You're welcome to pay the amount back early, but you still need to pay the amount of interest that you would have paid in your long term agreement with Apple".
     
  3. incredible43 macrumors newbie

    Joined:
    Oct 28, 2012
    #3
    Re:

    Why not just go to Best Buy and do their financing options? Buying a new iMac you will spend well over the $250 that you have to spend to get their 18 months no interest. In college I got my first Credit Card with best buy and did the annual fee to help raise my credit and it was great. I bought my MacBook pro with it and finished paying it off a couple months into the 18 months! Just be sure to look at all your options a lot of credit card companies offer different things and rewards for using their card. Only thing I don't like about the Best Buy card is that you can only use it there. Which was also good sometimes just so you don't run up debt. Hope you figure it out.
     
  4. Xalde macrumors newbie

    Joined:
    Sep 15, 2012
    Location:
    Taylors Falls, MN
    #4
    You're making this too difficult. To build credit easily just get a simple no annual fee credit card - personally have an American Express one. Then just use said credit card only for gas or something, keep the balance small, and pay it fully every month. You'll pay no interest and build up your credit over time.

    Or follow steps above, and if you are offered a card with enough credit buy your mac with the card and pay that balance fully.

    The trick is to find a simple card with no annual fee and pay the full balance every month. Don't open multiple credit cards ( I.e. get a best buy one, a Target one, etc). Just stick with one card, only charge a little on it (do not use your full credit allowance!), and pay it in full each month.
     

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