Toggle sidebar Toggle sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

'Apple Upgrade' Program Reportedly Launching Next Week

Ethrem said:
Hard pulls mean nothing in the grand scheme of things. After a certain point you don't even take a score hit from them anymore (ask me how many accounts I opened in a year to know that) and before that it's like 5-10 points, a blip on the radar that's largely inconsequential.

The only time people should be worried about hard pulls is if they're buying a house or financing a car in the next year since those scores are more sensitive to credit seeking than FICO 8, 9, and 10 are. For everyone else, finances over FICO.
Click to expand...
5-10 points can mean the difference in credit tiers, so it does mean something in the grand scheme of things. On top of that, you're getting into a legally binding contract for 24 to 36 months over a smart phone or tablet. That is just sad.
 
  • Like
Reactions: BillyJoeJimBob
iMac The Knife said:
5-10 points can mean the difference in credit tiers, so it does mean something in the grand scheme of things. On top of that, you're getting into a legally binding contract for 24 to 36 months over a smart phone or tablet. That is just sad.
Click to expand...
Anything over 760 you're typically getting the best rates. I'm in the 780s across my scores, and 800s in a few of them, 5-10 means nothing for me.

I usually open a credit card with a sign up bonus when I get a new phone but I have my 17 Pro Max on my Apple Card right now since I didn't actually plan to buy it until I did so there wasn't time to get a new card. It's not like I couldn't pay it off if I wanted to but why bother when it's 0%?
 
  • Like
Reactions: leesweet
What is the major financial problem with a huge number of Americans, cash flow or commonly defined as paychecks to paycheck's financing. This option digs a larger financial hole the longer the lease.
 
  • Like
Reactions: turbineseaplane
Didn't read 9 pages of comments but first couple didn't mention anything like IUP of getting a new iPhone after one year of payments. Yes/no?
 
I’ve used this to keep all three of my family members every two years up-to-date. If memory serves, they never really charge you for like financing fees. So OK I have AppleCare theft and the rest of it which is fine with me considering one of my kids alone would cost me a grand to replace so I’m happy with the service that they used to have.

But I’m also an 840 credit person so I hope this won’t be weird for those of us with good credit.
 
MacRumors said:


Apple and Klarna are partnering on a new "Apple Upgrade" leasing program set to launch in the U.S. on Tuesday, July 28, according to Bloomberg's Mark Gurman.

iPhone-18-Pro-and-Pro-Max-Feature.jpg

The program will allow you to finance most iPhone, iPad, Mac, and Apple Watch models, with a 24-month term for iPhones and Apple Watches and a 36-month term for iPads and Macs. Customers will be able to pay off the device early during the term, upgrade early to a newer device, or keep or return the existing device after the term.

The report said some lower-priced devices, including the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo, will not be eligible.

Klarna is a popular "buy now, pay later" service, similar to Affirm. Apple Upgrade will require a soft credit check, and additional fees may apply in some cases.

Apple plans to stop accepting new iPhone Upgrade Program sign-ups once the new Apple Upgrade program launches, the report added. Unlike the iPhone Upgrade Program, however, Apple Upgrade will apparently not include AppleCare+ coverage.

Apple plans to advertise the program as a way to have lower monthly payments compared to current financing programs, according to the report, so it sounds like Apple Upgrade will be a rebranded, all-in-one program that replaces the iPhone Upgrade Program and some other standard financing options that the company has offered.

Article Link: 'Apple Upgrade' Program Reportedly Launching Next Week
Click to expand...
1. Open a savings account.
2. Deposit $200/month in said account.
3. After 12 months, buy iPhone Ultra new, with cash.
4. One month later, continue making $200/month payment, and add 5%, so $210/month.
5. Repeat step 3.

No Klarna or Apple needed. You earn the interest. Don’t like the $200/month, get a cheaper phone.
 
  • Like
Reactions: Christopher Kim, rjjacobson, turbineseaplane and 1 other person
Been supporting/using Apple devices since 1979. At least 10 years ago with Macs, iPhones starting with the X for me, the performance became fast enough for my non business web surfing, email, photo/video computation that I no longer needed to be on the bleeding edge. Once the M1 for Mac and same date iPhone processor/neural whatever came out, it became a real no brainer.
Right now, have a M2 air with 24gb and 2Tb. Wife uses original M1 air with 8/512. Both are fine,M2 especially so! However I am looking around for an M2 or later MacBook Pro 14” simply to hav the fan cooled system for my more intensive raw photo file processing. Even M1 will do but considering price and age M2 and up. No need for anything new Apple sells with crazy memory induced pricing or their still high priced refurbished pricing too! I believe Apple could have easily reduced profits on other HW components and kept their overall prices down. They make so much money out of support contracts like Apple care!
I used to sell and service HW/SW support contracts for ancient 3Com/Novell/Generic file servers and their NOS.
What a pure profit business! Outfits from Autodesk to UC Berkeley paying me $5k to $20K and more a year and never needing replacement HW and hardly needing SW support! Still paying me for SW/HW upgrades, expansion etc!
Was literally rolling in dough!
I always find used Apple stuff in perfect well cared for shape for me and clients that are just fine along with under $2K/$1K pricing for the Macs and often including AppleCare.
 
Apple’s current upgrade program, using 17 PM base model as an example with 0% at Apple’s website…
a. Buy/finance for $50/m or
b. Upgrade program, finance for $62/m.. must pay min. 12 payments to qualify to get new iPhone model & financing is then updated to continue, most likely at a higher rate. At least AppleCare is included.

Why are people putting themselves into a cycle of debt?
What’s with the obsession of owning a New iPhone Every year? It’s just a smartphone.
If they can afford it, until they can’t, it’s their choice.
 
Well, I guess in a way this makes sense, since Apple doesn't view you as ever owning the phone anyway, they consider the purchase price as a license to use the phone.
 
turbineseaplane said:
A great way to get (or keep) people paying for things they can't afford and probably shouldn't be buying.


But hey ... “number must go up”, right?

That’s the important thing here.
Click to expand...
Yep. Klarna are scum, predatory scum. People are dumb but predatory lenders deserve a JDAM visit.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back