Finance options in UK?

[gimmesomemo]

Just wondering if anyone has any good insight into finance options in the UK?


Once they become common in other retailers in a few months, who offers the best rates? The 14.9% on the apple store seems a little steep. Are there any 0%, or at least very low, sellers around?


But then - is it also a problem getting BTO options from these other sellers?



Cheers!

 

[alexjholland]

Yeah, a credit card!

 

[geachy92]

Just wondering if anyone has any good insight into finance options in the UK?


Once they become common in other retailers in a few months, who offers the best rates? The 14.9% on the apple store seems a little steep. Are there any 0%, or at least very low, sellers around?


But then - is it also a problem getting BTO options from these other sellers?



Cheers!

I just applied and got approved for a credit card with Barclaycard. 25 months interest free. I'll be getting a mid range 13" touch bar and pay it off probably within 12 months. Just spreads the cost out nicely.

 

[Riffz60]

I took out a new 0% credit card just before announcement. It has zero interest for 24 months. So I'm using it just to fund this and I've set a direct debit to clear it within 20 months. I will probably pay it off sooner too.

If this is available to you I'd recommend doing the same.. most other financing (particularly Apple's own) will end up costing you a lot more overall.

 

[egraphixstudios]

Why are people buying if you don't have the money now? Wait and save up then buy with debit...

 

[geachy92]

Why are people buying if you don't have the money now? Wait and save up then buy with debit...

You mean like everyone does with houses, cars and other expensive purchases? Finding 0% interest to spread the cost of things is a great way to buy expensive products. I could, if I wanted to, spend it all at once, but then my current account would be £2000 lower and I would receive less interest each month. Spreading the cost allows me to pay small amounts a month, keep my full interest on my current account and still pay the exact same price for the product.

Where do I lose?

 

[haydn!]

Considering the new price points, you may want to consult a mortgage advisor.

 

[Paulg2uk]

I was hoping Apple might do their 0% finance again next month, that's gonna be the best way for me to buy my MBP.

 

[haydn!]

Do they do the 0% often? I recall seeing it a few times but every time I visit the site with the intention of making a large purchase it's the full whack interest rate.

 

[Paulg2uk]

Do they do the 0% often? I recall seeing it a few times but every time I visit the site with the intention of making a large purchase it's the full whack interest rate.

They usually start it around the 10th of December but I must admit I didn't see it last year. The last time I applied for 0% through the Apple Store was when the iPhone 6 came out so quite a while back now. Fingers crossed they will bring it back this year.

 

[Riffz60]

Why are people buying if you don't have the money now? Wait and save up then buy with debit...

Got enough money to buy it outright and be comfortable but at the same time it would take a chunk out of my savings.. if it doesn't cost any extra then why not spread out the cost? I like to think ahead as you never know what may come up.

 

[jimthing]

Yeah, Apple are currently charging ~15% APR. Such a pain the neck. These are expensive sodding machines, and they used to offer interest free credit on release of new Macs in Autumn; but not anymore, haven't seen them offer interest-free offers for years – so that's another 15% please on top of the Brexit rate issue, and the machines basic price!

What is it with Apple these days? Fine, charge a lot for your products one way or another. But why oh why can you not see that selling them to non-multiple millionaire mere mortals mightn't be more effective with some rate-free credit options?!
The mind boggles... 'please max out your purchase and buy our new MBP at £4049', 'and you can get two of these 5K LG displays made just for it for just another £2360', 'oh, and you'll need some dongles of course, add [more £ here]' ...'so just £6.5k please, and no we won't help you spread the cost at all either (unless you want to pay another £1k in interest on top).'

I was lucky and had the £4k available for the machine, as my previous 17" MacBook Pro was knackered so sold a month ago and I needed a new machine, but like thousands would still have preferred to spread the cost.

 

[gimmesomemo]

Thanks guys, I have actually always stayed away from credit cards in principle, so I had no idea about these 0% purchase cards. Applied and got one coming in 10 days or so. 24 months 0% interest - Banger!

Why are people buying if you don't have the money now? Wait and save up then buy with debit...

I don't see how that is any of your business to be honest. I actually do have the money, but spending it outright would leave my balance not very flexible, especially with christmas coming up - so if I can pay it off monthly with no added cost then why the hell not??

 

[jimthing]

Thanks guys, I have actually always stayed away from credit cards in principle, so I had no idea about these 0% purchase cards. Applied and got one coming in 10 days or so. 24 months 0% interest - Banger!

I don't see how that is any of your business to be honest. I actually do have the money, but spending it outright would leave my balance not very flexible, especially with christmas coming up - so if I can pay it off monthly with no added cost then why the hell not??

Exactly; the same reasoning for spreading utility bills over monthly payments. Spreading costs over time means one can pay for lots of things at once during busy spending times (release of new MBP/Displays+expensive adaptors/cables, +general xmas spending), and then pay it back during quieter spending times (Feb-May), before then spending on holidays/vacations again in summer, for example.
[Of course CC companies know a percentage of people will not be able to clear the balance on time &/or (completely wrongly, as that's not what these longterm interest-free type of credit cards should be used for!) carry on spending on them. Which is where they make their money, of course, hence why the smart guy doesn't do this!]

Still cannot believe Apple are not offering ANY interest-free deals whatsoever (I checked my records, and found the one they previously used was done in partnership with Barclays Finance).

And to add insult to injury, if you want to order one or two of these new LG 4K/5K displays, of course they're not going to be covered under AppleCare on the Mac you buy like Apple's old Cinema/Thunderbolt Displays, given they're not Apple branded products. So we all have to see what length of warranty LG actually choose to include with them on purchase in December (I just bet it's a crappy standard 1-year on the 5K's!!).

 

[shifomu]

I purchased my rMB on 10 Months interest free finance from PCworld. I know they don't have the best reputation but fortunately I didn't have any issues (although I was sceptical beforehand)

The great thing about the PCworld finance is that it is interest free and as long as you pay it off within 10 months you can pay it off however you like. I paid mine off like any regular finance plan by dividing the total cost into 10 months and paying it off month by month but it does allow people to pay how they seem fit - providing the total cost is paid off before the 10 months is up (otherwise you'll end up with a big bill!)

Additionally they had £150 cash back on my rMB and they had it in stock that day whereas I would have had to wait 2 weeks for it to be delivered and I would have had to pay full RRP + the interest rate. So IMO PCworld was a much better solution = picked it up some day, no interest, cash back.

The finance plan is handled by a third party company called Creation.

I'm not sure if this option will be available for the new rMBP's because I haven't looked as I'm not in the market for it - but definitely an option you should consider.

 

[Paulg2uk]

I just had a look on the PC World website, they are offering finance on the MBP's but you basically pay nothing for 6 months and then you start paying it off with interest it looks like. The only downside is you can't customize your laptop as they only sell certain models.

http://www.pcworld.co.uk/gbuk/yourplan-723-commercial.html#online

 

[jmebbk]

How hard is it to get finance with Apple?

 

[jimthing]

I just had a look on the PC World website, they are offering finance on the MBP's but you basically pay nothing for 6 months and then you start paying it off with interest it looks like. The only downside is you can't customize your laptop as they only sell certain models.

http://www.pcworld.co.uk/gbuk/yourplan-723-commercial.html#online

^This.^
I ordered the maxed-out BTO 15", and so cannot order from them using this... just yet another point of "control" for Apple are these BTO options! As of course rather than sell at supplier price to OTHER resellers, Apple themselves keep that margin/profit in-house as they then stay as the reseller themselves.

 

[HelixOmnimedia]

Apple UK use Barclays finance and its was around this time last year I got an iPad Air and other stuff in store, the offer was 0% for 12months. I remember reading during Back To School they had the same offer but it was exclusive to online.
I'd wait to see what happens with finance in store over the next week or two.

 

[Paulg2uk]

Apple UK use Barclays finance and its was around this time last year I got an iPad Air and other stuff in store, the offer was 0% for 12months. I remember reading during Back To School they had the same offer but it was exclusive to online.
I'd wait to see what happens with finance in store over the next week or two.

I agree I'm gonna wait, I'm sure it's usually around the 8th of December Apple start offering 0% finance. It would make sense I suppose as the holidays are on the way and everyone will be buying Xmas presents.

 

[Theplyr]

Thanks guys, I have actually always stayed away from credit cards in principle, so I had no idea about these 0% purchase cards. Applied and got one coming in 10 days or so. 24 months 0% interest - Banger!




I don't see how that is any of your business to be honest. I actually do have the money, but spending it outright would leave my balance not very flexible, especially with christmas coming up - so if I can pay it off monthly with no added cost then why the hell not??

How did you get 0% interest if they only offer 14.9%????

 

[boateng]

I agree I'm gonna wait, I'm sure it's usually around the 8th of December Apple start offering 0% finance. It would make sense I suppose as the holidays are on the way and everyone will be buying Xmas presents.

when is this happening?
also do apple still do this? I was curious and applied and saw that they only offer pay pal finance at 24 months installments
[doublepost=1478790477][/doublepost]

Apple UK use Barclays finance and its was around this time last year I got an iPad Air and other stuff in store, the offer was 0% for 12months. I remember reading during Back To School they had the same offer but it was exclusive to online.
I'd wait to see what happens with finance in store over the next week or two.

is it only with certain price amounts that they offer barclays finance?
I tried to buy a 15' macbook pro online through instalments and the only option was pay pal credit with maximum 24 month instalments at something like 14.9%apr

 

[Paulg2uk]

when is this happening?
also do apple still do this? I was curious and applied and saw that they only offer pay pal finance at 24 months installments
[doublepost=1478790477][/doublepost]
is it only with certain price amounts that they offer barclays finance?
I tried to buy a 15' macbook pro online through instalments and the only option was pay pal credit with maximum 24 month instalments at something like 14.9%apr

I'm not certain this will happen as I've not applied for Apple's finance via Barclays since 2012 when I bought my last MBP. If Apple are going to offer interest free it will definitely be next month as that's when they usually have the offer.

 

[boateng]

I'm not certain this will happen as I've not applied for Apple's finance via Barclays since 2012 when I bought my last MBP. If Apple are going to offer interest free it will definitely be next month as that's when they usually have the offer.

oh true during the christmas period?
Is the barclays one......like a credit card? Do they send you a credit card?

 

[Paulg2uk]

oh true during the christmas period?
Is the barclays one......like a credit card? Do they send you a credit card?

It's not a credit card no, you usually select the finance option on checkout and then I think you are then transferred to the Barclays website to fill in the finance form. It usually gives you all the info like how much a month etc beforhand.