Best Buy's 'Upgrade+' Program Lets Customers Get a New Mac Laptop Every Three Years With Monthly Financing

[MacRumors]

Best Buy today announced a new financing and upgrade program called "Upgrade+." The program involves a combination of interest-free financing through Citizens Pay and an option to upgrade to a new Mac laptop after three years.

As an example, Best Buy cites a base M1 MacBook Air priced at $999.99. Through the Upgrade+ program, a customer can pay $19.99 per month for 36 months toward the machine. At the end of 36 months, the user has the option to make the remaining $280.35 payment and keep the machine, return the machine and leave the program, or upgrade to a new Mac laptop. If they return the machine, either to leave the program or upgrade to a new Mac, no final payment is required.

Examples of base Mac laptop configurations with Upgrade+ pricing terms:

• M1 MacBook Air ($999.99): $19.99/month with final payment of $280.35
• M2 MacBook Air ($1,199.00): $25.98/month with final payment of $263.78
• M2 13-inch MacBook Pro ($1,299.00): $28.15/month with final payment of $285.78
• M1 Pro 14-inch MacBook Pro ($1,999.00): $43.32/month with final payment of $439.78
• M1 Pro 16-inch MacBook Pro ($2,499.00): $54.15/month with final payment of $549.78

AppleCare+ and select Apple accessories can also be folded into the program and financed over the 36-month term. Members of the Best Buy Totaltech program (priced at $199.99 per year) will also receive their normal membership benefit of AppleCare+ at no cost for up to 24 months while participating in the Upgrade+ program.

Best Buy notes that Best Buy Totaltech member pricing and other promotional discounts may not be used with the Upgrade+ program, but it may still be a reasonable option for customers who prefer a small monthly payment to spread out the cost of the machine over three years rather than having to pay for it entirely up front.

Customers may also be able to obtain more money for their used Mac after the three-year period by selling it through other channels rather than accepting the forgiven final payment from Best Buy, but customers who wish to do that could simply make that final payment and then sell the machine on their own.

Best Buy says the Upgrade+ program will also help to reduce e-waste, as Mac laptops returned at the end of the program will find their way to Best Buy's other programs for giving used machines second lives.

Article Link: Best Buy's 'Upgrade+' Program Lets Customers Get a New Mac Laptop Every Three Years With Monthly Financing

 

[jonnysods]

Interesting. I'd have to do the maths on this as I seem to upgrade pretty often, but then I get the benefit of selling what I have too.

 

[CJM]

Ah yes, encouraging students to get into debt early. What student needs to upgrade a laptop after 3 years?

Sometimes, Macrumors, I think you guys post this stuff to wind us up.

 

[Cole82]

Sounds like a good way to never get out of debt... maybe buy what you can afford and move on.

 

[steve217]

The road to the poorhouse is paved with easy payment plans.

 

[ProfessionalFan]

Isn't this what was rumored to be in Apple's pipeline? A similar idea anyway.

 

[TheYayAreaLiving 🎗️]

Ah yes, encouraging students to get into debt early. What student needs to upgrade a laptop after 3 years?

Sometimes, Macrumors, I think you guys post this stuff to wind us up.

It's a good option to have for students to get through college tho. Many don't have the funds right away to pay off the new Mac. Especially the fact, Apple will be raising the prices for the new upcoming Mac's in the future.

 

[Apples Apples Everywhere]

I've always been excited about this concept, but when you factor in discounts the value of this program isn't that amazing. Also some great features will occur more often than 3 years.

 

[rgwebb]

I have no clue why most people would need to replace even a base macbook air every 3 years.

My wife has been rocking a 2018 iPad Pro for 4 years and feels no pressure to get one of the new M2 models. Not quite the same thing but close to the same type of audience.

 

[dragoon2745]

Ah yes, encouraging students to get into debt early. What student needs to upgrade a laptop after 3 years?

Sometimes, Macrumors, I think you guys post this stuff to wind us up.

Other than the information in the article itself, what are you saying MacRumors said to intentionally rile the audience?

 

[ProfessionalFan]

It's a good option to have for students to get through college tho. Many don't have the funds right away to pay off the new Mac. Especially the fact, Apple will be raising the prices for the new upcoming Mac's in the future.

Exactly, everything doesn't have to be doom and gloom.

 

[dantracht]

I would never want to be locked into anything involving Best Buy for 3 months, let alone 3 years.

 

[TwistedGleam]

Ah yes, encouraging students to get into debt early. What student needs to upgrade a laptop after 3 years?

Sometimes, Macrumors, I think you guys post this stuff to wind us up.

Sounds like a good way to never get out of debt... maybe buy what you can afford and move on.

The road to the poorhouse is paved with easy payment plans.

The forgiven final payment for trade-in is a ripoff, but interest-free financing is a perfectly fine option, even for people who have the cash. especially if you consider the time value of money. A $30 monthly payment today is worth more than your 36th monthly payment of $30.

 

[ProfessionalFan]

I would never want to be locked into anything involving Best Buy for 3 months, let alone 3 years.

So this is clearly not designed for you.

 

[zubikov]

The resale value of a 3 year old 16" macbook pro is way higher than $550 shown in the example. This program is a terrible financial decision. If you have the time and patience to sell on eBay, buy it outright and sell it yourself when you need to move on. If you don't want to bother with the sale, just trade it into Apple, and that will still fetch you more $.

 

[BeefCake 15]

Other than the information in the article itself, what are you saying MacRumors said to intentionally rile the audience?

I hope that Macrumors would venture into responsible journalism and add a note on whether this is a good deal or not mathematically or who it would potentially benefit. If it's a completely bogus deal, my expectations is they would call it out and warn folks that may not know any better....

 

[averagenerd81]

Ah yes, encouraging students to get into debt early. What student needs to upgrade a laptop after 3 years?

Sometimes, Macrumors, I think you guys post this stuff to wind us up.

From everything I see in the news, being a student in most cases puts you in huge debt already. What's 1-3K more when you're going to college?

 

[ProfessionalFan]

I hope that Macrumors would venture into responsible journalism and add a note on whether this is a good deal or not

That would be called an editorial, which is not what this is. When presenting news, you're supposed to leave your own opinions out of it.

 

[applicious84]

It seems pretty similar to most no-interest financing programs.

It looks like the big catch is if one can or can't afford to make that final large payment. Would they effectively be forced to upgrade or lose their laptop? I can't totally tell, but that wouldn't be a great position to be in.

Otherwise, that's not too dissimilar from what most people do with their phones, and no-interest financing is really not a bad thing. Imagine buying a home that way!

Finally, it just gives you another option at the end. I really don't see getting a no-interest loan as a bad deal or financially irresponsible.


OK, it seems that this is only reasonable if there is no discount on the original product. So this really is not so great. Especially since you can get this with no-interest financing, including the discount, over 24 months.

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[jeffmetanna]

Interest free payments are always a good idea. More cashflow for you.

 

[Cole82]

It's a good option to have for students to get through college tho. Many don't have the funds right away to pay off the new Mac. Especially the fact, Apple will be raising the prices for the new upcoming Mac's in the future.

As a student currently wrapping up my MBA, I can assure you... there are very few students who cannot afford a MacBook Air at the $1,000 price point. Additionally, there are very few students who need a MacBook Pro to get through school (especially for a Bachelors)... but you can bet they would use this program to buy one because that is pushed on them. "Buy the best, you need it! The debt isn't much." Do you really think this enables individuals to shop within their means? Nope, that's not the way our brains are wired after years of advertising. We start to think "well, they payments are low enough... I'll just get the bigger one. Bigger is better!" That's how you end up with a $3,500.00 fancy couch web browser. If people actually shopped within their means, Apple's profits would not be nearly what they are. My own family is guilty of this, and I'm a finance major! You can argue the point all you want, this is just another way to shackle individuals into debt. It wouldn't surprise me if the financing was done by Synchrony... they love keeping people in debt!

 

[NightFox]

Effectively a stealth subscription?

 

[cpnotebook80]

I just watched a youtube short doc on these payment plan apps that makes for easy purchases on designer products, electronics etc etc. Esp credit cards..

 

[ProfessionalFan]

It wouldn't surprise me if the financing was done by Synchrony... they love keeping people in debt!

It is done by Citizens Pay, all you had to do was read the second line of the article.

 

[Spock]

It's a good option to have for students to get through college tho. Many don't have the funds right away to pay off the new Mac. Especially the fact, Apple will be raising the prices for the new upcoming Mac's in the future.

I really hope that you are wrong but I don't think you will be..