Good, let the people who can't pay their bill suffer. Their interest pays for my cashback. I pay my bills on time and benefit for it. Why wouldn't I take advantage of a 0% APR loan on a phone if it exists?
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Apple's Upgrade Program Now Available for iPhones Purchased Through Online Store
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Good, let the people who can't pay their bill suffer. Their interest pays for my cashback. I pay my bills on time and benefit for it. Why wouldn't I take advantage of a 0% APR loan on a phone if it exists?
Fortunately you do not need a lawyer to guide you thru this agreement policy:
http://www.apple.com/legal/sales-support/iphoneupgrade_us/
Everyone should read the fine print. Those that cannot read obviously are the ones who believe love to finance cellphones. Stop financing a cellphone so you can look cool. Either pay for it in full or save your money. Learn how to save up and not use financing for stupid stuff like cellphones. This is the biggest issue with american's who cannot afford to buy stuff but yet want to do it thru financing programs.
Was hoping someone who's not a jerk would answer
Completely missing the point. Completely.
My bank offers a program called First 500. The first $500 I put in my savings account earns 5% interest. So, I put $500 I was going to spend on the iPhone into that account (which I normally do not use because the base rate is only .1%), and in two years time, I've earned $50. The remaining $149 I can put into a savings bond earning up to 1.64% interest and in two years time have earned $5. That may not seem like a lot, but it's $55 more than I had when I bought the iPhone. And, at the end of the first year, I can trade that phone in for a the latest and greatest iPhone, without paying another dime toward the principal of the old phone (just the taxes).
So it makes more sense to finance the phone this way if one is truly responsible with their money, and wants the latest tech. Moreover, I have the satisfaction that my used phone will be sold to someone who truly can't afford to buy a new phone in a place that doesn't allow this kind of financing.
Is it? Weird. This says $99 for 6s and 6s+: http://www.apple.com/support/products/iphone.html
Even better, then. No real downside.
Edit: Ah, read it wrong. That's the accidental replacement cost, not AppleCare+ cost. Ooops.
There's no interest to pay using this plan. And to call someone a "loser" based on their financial situation is distasteful and completely unnecessary.
For a car hell yes. For a smartphone, well, if you have great credit and can qualify I guess why not? But my angry rant is for the people who always fall for financing programs and ultimately fail to make payments on time, etc. These credit card companies are all demons.
I'm not here to make you look bad but if you cannot afford something up front like a cell phone, then you cannot afford it until you have the cash. If you can't afford to pay for it up front to begin with you shouldn't be in the market for a $650/$750 device.
Lmao. So thanks to this dumb program, it no longer makes financial sense to get risk getting shot? So you value your life at approximately $300-400? Or you could just use eBay or buy an assault rifle like a real American.
Lol
If the phone you upgrade to was the same price as your original, the rate stays the same.
Thats the cost of the replacement device (deductible), not program enrollment.
http://www.apple.com/us-hed/shop/pr...80/applecare-for-iphone-6s-and-iphone-6s-plus
Well that isn't true... The installment is through a 3rd party that Apple has set up, they are not magically striking a deal with my CC to allow me to pay the phone off.
I agree with you on one point, you should be ABLE to buy the phone upfront before signing up for the terms, but that does not mean you should. Debt is a good thing if you handle it well and as someone who has a great credit score... I will say that I will take a 0% interest loan ANY day of the week.
Yes, if you miss a payment they are going to likely charge you interest, but that is because you have proven you cannot pay the bill on time. As long as you pay on time this is a good for the consumer and Apple.
So Apple can sell you an iPhone whether you need it or not. Now that the phone marketplace has matured, we know we are not going to be buying based on innovation.
I will change my original post to reflect this rude and unacceptable terminology.
That is strange, but if you follow the links on the page you linked to actually purchase the Apple care+ plan it shows the true price of $129. I remember the price increased in the past few years. Apparently that one page was never updated.
Edit: Ahh, the wording got me too.
I'm also from the UK but I'd imagine you'd continue to pay the same amount monthly unless the handset you're interested is higher compared to last year's price (or lower).
I guess (in a way) we have a similar programme on o2, Tesco Mobile, EE and Virgin Mobile.
Or you could order your handset from GiffGaff and pay for the phone monthly and choose another carrier to provide service.
I use my credit card to pay for everything then pay it off each month. In the past year I have earned over £200 from my credit card. It's money for nothing.
If you can do this, then you are no loser. This is for the rest of Americans who are in massive debt. These programs just lure the poor saps into more debt.
If you are going to pick on high household debt for Americans, you are skipping over several other countries that are MUCH worse off:
If only people understood how much their consumer data is worth. 200 pounds is peanuts to them. They would pay 10 times that amount and still be insanely profitable.
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That chart is definitely wrong.If you are going to pick on high household debt for Americans, you are skipping over several other countries that are MUCH worse off:
Perhaps I should've come out wording my message properly. I want people to know if you can't afford to pay for a $650 smartphone, then the smartphone is not in your budget range. The practice of buying something without paying for it up front is a bad practice no matter what. What do they teach in school these days? I've played monopoly when I was 7 yo so many times but never once was I able to buy some property when I have no cash. This shouldn't be how the mentality of buying things - NOT small things like a cellphone. A car, a house, a boat sure with the large amount of money. But the same concept here - if you can't afford it in the first place, it's not in your budget period. Buy something else that you can pay for up front.
Well, okay. But I wasn't cherry-picking charts, it was the first result from Google.
EDIT: I've looked at several other sources and some other years, and while some of the positions move around a little bit, they are all roughly the same. So it doesn't seem wrong to me. Maybe you are looking at a different type of chart that shows something else like national debt, or debt-to-GDP ratios, or something else other than straight up household debt.
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This is a pretty cool program then, I'd like to see this in the UK.
Also to that other user, this isn't about not having the money, it's about being able to upgrade with a guarantee your old iPhone won't have depreciated in value, as it keeps half the original value after half of the program. (Trading it in writes off the remaining 12 months' payments- you're now paying towards the new phone)
That said, I've not really looked into whether an iPhone's value after 12 months is generally more or less than half its original value when you sell it second hand. But that's more of a gamble.
If you are going to pick on high household debt for Americans, you are skipping over several other countries that are MUCH worse off:
I don't need to major in economics to understand how I can afford something vs something I cannot afford. I shop within my budget. Not outside of it. Apple products are expensive - with programs like these it makes people think it's affordable when in reality you can't afford it.
And someone needs to look at this graph and make sense of it. I'm not qualified to explain it.