Bestbuys 18month financing? or apples student discount

[ptruong31]

I'm currently a college student in need a new laptop, I need something lighter and with much better battery life.

Currently I'm debating if I should just drive down to the apple store, and get the low end 13" mbp for 100 off. But, I hate driving down there because its located in Pasadena California and there is always MASSIVE traffic there, with nowhere to park.

Which is why I'm thinking about going to the closest Best Buy store and getting the 18month financing plan compared to apples 12month financing plan.

What do you guys think?

 

[1BadMac]

I just asked the department manager at our local Best Buy to price match the education discount and showed him my long since expired ID. Since I'm in there just about every other week buying stuff, he took care of me.

It can't hurt to ask. Most BB's have stopped matching the education discount.

 

[namtaB]

I wouldn't finance a laptop. Heck, I wouldn't even finance a car but most people do b/c personal transportation is almost a requirement in our society. If an apple is costly enough for you to finance one, why not just get something within your budget instead?

 

[laser71]

student discount.

Stay away from financing.

 

[braindead5400]

I wouldn't finance a laptop. Heck, I wouldn't even finance a car but most people do b/c personal transportation is almost a requirement in our society. If an apple is costly enough for you to finance one, why not just get something within your budget instead?

People finance computers all the time even by just putting them on their credit cards. It's not a bad idea if you don't end up paying tons of interest on it (and they're responsible)

 

[Doc750]

tell the best buy guy that " The local B&M apple store is giving you student pricing", and they will usually match it.

 

[namtaB]

People finance computers all the time even by just putting them on their credit cards. It's not a bad idea if you don't end up paying tons of interest on it (and they're responsible)

If you're just looking to split the payments with no interest then yea go for it. But, when I hear financing I think of interest. IMHO, if you need to finance a laptop with interest you're better off just going for something that's within your budget. You can get an ample PC for less than $500, rather than financing an Apple that at a minimum costs double.

 

[1BadMac]

People finance computers all the time even by just putting them on their credit cards. It's not a bad idea if you don't end up paying tons of interest on it (and they're responsible)

Paying ANY interest on a consumable like a laptop is silly. For some it's the only option, but good old saving until you can afford it is usually the best practice. Of course this doesn't count for those "responsible" people in it for the points, cash back, etc...that pay a balance off before it's through the first cycle.

Most merchants are also charged up to 3% fees on the backend of the transaction involving a major credit card. Over time, this has led some retailers to stop offering as competitive of discounts as they might have otherwise offered on a product due to having to recoup this part of their profit. That's why if you ever go to say...a furniture store...you should always ask if they have a better price for a cash/check paying customer. In many cases, you will get something. Ok...that was off a bit topic, but still..

 

[acunit86]

I got the student discount at my Best Buy, and they still offered the financing. I put it on my amex instead, but they sure gave me the option to do both.

 

[Benjamins]

I never do financing unless it's 0% APR.

still they might get you in minimum financing fee or some crap like that.

 

[skier777]

Honestly, if you are a student and you know you will need to pay for it over 1.5 years, why not save up the would-be payments for a few months and then get one in the summer during the free ipod sale. I sold the one i got on ebay for the list price less $20 after i paid the fees.

 

[titans1127]

I wanted to go for the Best Buy 18 months interest free which would have probably allowed me get a better model but I opted for the student discount plus 12 month financing through the Apple Visa they offer.

 

[fr4c]

Get it from BestBuy if you get approved for the 18 month interest free financing. Enroll yourself into RewardZone and use the points towards a giftcard. BestBuy should still be matching the EDU discount so its definitely worth a shot.

 

[AdamRock]

i used the education discount. my mbp went from 2499 to 2299, also, i am not apart of any university/college, nor did apple ask for proof - like always.

 

[reneesees]

If you go the zero percent 18 month rate, don't have any late payments so that they stick you! The Reward Zone would be very rewarding with a large purchase---you could buy accessories!

Can Best Buy get the upgrades or do they carry just the base models? It looked like online (before the the refresh) they only did the base 15", the high end 15" but you could not have different screen options.

 

[snakemajestic]

I bought mine at Best Buy, and they price matched the education discount--No questions asked. I offered to show them my student ID, they didnt care.

 

[aznguyen316]

Yup gotten both before. Student + 18months. But if only one, I would do 18months haha

 

[KPOM]

People finance computers all the time even by just putting them on their credit cards. It's not a bad idea if you don't end up paying tons of interest on it (and they're responsible)

It's a big IF. With both the Apple and Best Buy plans, if you don't pay off in full by the end of the deferred interest term you get socked with significant interest charges. They are run by third party credit card companies who make their money through those extra charges.

I'd take the discount and pay cash for it. Unfortunately, schools don't do a good job of teaching financial lessons (in part because they rely on people borrowing lots of money to pay for high tuition).

 

[smc333]

Take the student discount at Apple, and potentially go for their financing.

Best Buy's financing is no longer through Chase, its now through HSBC, which is a terrible company to deal with, you'd want to avoid them if possible.

 

[braindead5400]

It's a big IF. With both the Apple and Best Buy plans, if you don't pay off in full by the end of the deferred interest term you get socked with significant interest charges. They are run by third party credit card companies who make their money through those extra charges.

I'd take the discount and pay cash for it. Unfortunately, schools don't do a good job of teaching financial lessons (in part because they rely on people borrowing lots of money to pay for high tuition).

It's not really that big of an "if" with proper planning. You very obviously have a limited time to pay it off without getting an interest charge and if you don't then you'll get the 22% interest rate or whatever it is. People should only be afraid of going this route if they know that they're irresponsible or they don't have reliable income.

Even if they are irresponsible then I still don't think it's that bad. College students are adults and if they can't handle it then it'll be a pricey lesson but a lesson nonetheless. For reference I financed several large ticket items while I was in college and since I'm responsible my credit score is much higher and my credit history more extensive as a result of it.

Though it would be a pretty terrible situation if someone financed it and then lost/damaged or had it stolen without some sort of insurance on it. That could be a poor situation.

 

[devilstrider]

You can get the student discount and do the interest free best buy deal.

 

[iTabone]

WTF Best Buy price matches the discount? Yes!

 

[wct097]

Financing with Best Buy simply isn't worth it, even at 0%. The problem with Best Buy financing is that the card you finance it on offers zero benefits. I made the mistake of financing a TV with them at 0% rather than just paying for it with my Amex and paying the bill in full when it came. 6 months later I was paying to ship the TV across the country for repair because Best Buy doesn't stand behind their sales and the BB CC doesn't offer any purchase protection or warranty.

Seriously. Buy on an Amex. Get an extra year of warranty for free. Don't have one? Apply now and you can probably even get 0% for a year on top of the warranty & purchase protection and cash back.

Can't say enough good about Amex...... Discover does basically the same thing. Either are head and shoulders above BB financing when it comes to the benefits.

 

[ptruong31]

Wow, thanks for all the replies everybody.

First off, I'm very confident in my ability to pay it off within the 18 months. I've had credit cards since I was 18, and never missed a payment. I'm pretty responsible with money.

I do have a good sum of cash on me, but I don't like to spend all that cash at one time in case an emergency comes up and I may need it.

But if Best Buy matches the education price discount, and gives me 18 months 0% financing, I'm all for it.

To the user who said I should stay away from HSBC bank, what exactly happened between you and them? If anything, I do have 1 year manufacturers warranty and an option to purchase student discounted apple care within the one year. I'm not too worried if my bank would cover my product or not, as long as its covered one way or another.

 

[iTabone]

DO you guys think Best Buy will pricematch the discount for me if my university ID has expired?