Apple Reintroduces Financing Options in the United Kingdom

[prasand]

Barclays cherry pick only the highest scoring credit applicants.

Not true, after being cash only all of my life ... I had only been building my credit for 6 months (having started with no credit), and was approved by Barclay. This happened a year and a half ago, so I think it's still relevant.

 

[kildraik]

Barclays cherry pick only the highest scoring credit applicants.

Shame on you Apple.

That’s not true... But Barclays will certainly not approve people who are irresponsible with instalment and revolving accounts.

 

[larrylaffer]

TIL that in the UK they say "Instalments". CAN'T UNSEE

 

[400]

How long is this 0% sticking around?

T+C indications are 12 July for the interest free. They are in the quote further up and online should you wish to read it directly, don’t take my word for it.

Seems a short window to me so was not sure I had read it correctly.
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Finance plans like this should really only be available on macs to small businesses/ the self employed for business use. General consumers should instead go and talk to their bank manager about a loan, or better yet save up the money first. Not impressed with Apple encouraging consumers to take on debt to buy their products.

Over the years I have used many limited time offers of 0% to buy goods on tick. As long as the buyer is careful, it beats the bank rates and leaves savings untouched if you can pay out your monthly wage. Pity this offer is only to be repaid in 12 months.

Not that standard savings is attracting anything lately in the UK.

 

[400]

There is also this on the Apple finance option page
“Credit subject to status. Different durations and interest may be offered.”

Not all pricing will get it? Not sure I want to test it in case there are credit searches on me.

 

[scaramoosh]

If you have to get finance, don’t bother buying an Apple product. You can do way better buying other options for far less money, Apple is for the middle class.

 

[WarHeadz]

Personally, I think it’s because people in the United Kingdom are bums and they never pay their bills!

What an insightful opinion! 🙄
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Barclays cherry pick only the highest scoring credit applicants.

Shame on you Apple.

Lol how is that shameful? Seems like good business to me. You don’t have a right to a new iPhone. If you can’t afford to buy it outright and have crappy credit, no new iPhone for you. They ain’t a charity.

 

[lec0rsaire]

How long is this 0% sticking around?

Not for very long. The days of nearly free money are coming to their end around the world. It was really nice while it lasted but they simply cannot remain that low forever without causing serious inflation.

 

[Jmmarnette]

View attachment 762384 Can someone explain me why the interest rate is 18,5% in Belgium!!! This rate doesn't come from an obscure bank but from alpha credit which is bnp Paris bas and which is offering 12,5% on its site. You can have 3% if you go to your bank. That is roberry

 

[ncmrnc]

View attachment 762383 View attachment 762384 Can someone explain me why the interest rate is 18,5% in Belgium!!! This rate doesn't come from an obscure bank but from alpha credit which is bnp Paris bas and which is offering 12,5% on its site. You can have 3% if you go to your bank. That is roberry

Simples. 🙂
It is how they make money.
.
These banks "exists" to make money through lending.
Apple website has traffic. It's products has the right amount of pull to not to cancel the order after one is in that checkout page.
The demographics that visits that section of financing option and gets approved are more likely not default. Or probably likely?
.
It's all about perception of risks in getting the money back "and" making money. I bet they had crunched a lot of data before deciding on the cost of lending that capital to those customers.

 

[400]

UK only 0% deal for a limited time? Maybe elsewhere in the world at another date? Only Apple can probably answer that.

Many of credit deals are rubbish but a few good ones pop up and are handy if you happen to be able to make use of them at the time. This time this UK 0% deal is of no use to me.

If you want robbery, then the short term loans at 1000%+ and they are legal.

 

[scaramoosh]

Again people need to stop getting themselves in debt over an Apple product. I own a MacBook, it cost me close to 2K, I own a Windows Laptop that cost me £299. It’s funny because they share the same CPU, but my Windows Laptop has a much more powerful 940MX and can play any game I want, where my MacBook doesn’t. On top of that it has expandable ram and a SSD bay....

Apple products are not best for everyone, if you need to finance it then I wouldn’t bother.

 

[400]

Getting into bad debt for it, yes, avoid and that goes for many things in life for non essentials.

But a 0% tool to use responsibly, why not, for some it might fit in to their situation? People seem happy to pay over the odds tied into a contract phone and data, personally I think that is bonkers especially when a no nonsense phone for peanuts will do the job for many claiming poverty.

Personally I avoid anything windows. So Apple, as expensive as it is (and it can be eye watering stupid price), is my preferred option. Might be others out there with the same outlook and can afford the long term option better than the up front hit.

Outside the 0% though I would be going to a bank if I needed to long term finance the mac and within my means.

 

[AZMecha]

This is puzzling....

I like by Barclays card, as time has allowed for it to grow, when I signed up back on iPhone 4...

The rewards it offers in short pays for my Apple music and other peripherals.

But what about story last week with Goldman Sachs starting a new program???? 😵😵

 

[JamesMay82]

This is puzzling....

I like by Barclays card, as time has allowed for it to grow, when I signed up back on iPhone 4...

The rewards it offers in short pays for my Apple music and other peripherals.

But what about story last week with Goldman Sachs starting a new program???? 😵😵

What do you mean by Barclaycard offers? Do they offer a deal on Apple Music? are you UK based as well?

 

[orbital~debris]

The offer is over now (but IIRC it was extended from the July end-date, into August) and finance is currently only available with a non-0% price…

I wonder if it will return? And before Christmas?

 

[orbital~debris]

The Barclays 0% finance offer is back (has been for a little while, only just got around to commenting here).
https://www.apple.com/uk/shop/browse/financing

This round ends soon - currently showing as January 17, 2019.

 

[jimthing]

The Barclays 0% finance offer is back (has been for a little while, only just got around to commenting here).
https://www.apple.com/uk/shop/browse/financing

This round ends soon - currently showing as January 17, 2019.

It is but only offering 12mths to pay back without accruing interest. TBH you'd be much better to get a 0% credit card.

e.g. Virgin Money has one offering 0% on all purchases for a whopping 26 months, with no fees. Plus they do a cashback scheme giving 1.9% back on Apple.com purchases. On say £3K that'd be £57 – not a huge amount, but it's free money anyway (provided you clear the debt without paying interest, of course).

Provided you can budget the repayments over time, this is more adaptable, as you could pay the minimum payment in months when your expenses are high, and higher payments in other months, all over a much longer 26mth maximum interest free period. ;-)