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Finance Question
- Thread starter asimmd
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I think you should be asking yourself if you really need a Mac so much that you have to finance it. Just save up the $2000 and buy it outright.
No. But you're likely to need one when you place your order on the online store. Also, you will need an apple id to use many of the features on the Mac such as the app store, iCloud, iTunes, etc
Not sure if the question of Apple ID comes up when taking out finance but its probably something you want to keep constant across your devices/purchases because of iCloud etc 
Excellent use of irrelevant responding. I just don't understand. Offering that advice is one thing; which I do as well, but you need to really learn to follow it up with something more useful and relevant.
That Barclays (is it still Barclays?) offers no interest on purchases over a certain amount so if you know you can repay the balance before the interest hits then go for it. However, there are so many other and way better cards out there. Either way, when you check out I think you should create an ID regardless. This allows you to track your orders, past and present, and she'll need it when she sets up the new Mac anyway.
If you have $2000 to buy a computer but have any other debt (i.e. car), you get the interest free 12mo and put the 2k towards something you're paying interest on. Many people are paying interest on something.
There are couple of reasons for people buying stuff with financing plan. Inability to pay direct is one, but it could also disperse your expense bills. Which is a lot better than having to pay the whole price upfront, especially if they have 0% installment rate.
So why would you buy with hard cash while you can do it with 6 or 12 months plan with no interest? No extra fee, no premium price?
If you can qualify for Apple credit you would be better off getting one of these:
http://www.creditcards.com/0-apr-credit-cards.php
a 0% APR card and pay it off in a year or even transfer to another 0% card after the introductory APR. I see absolutely nothing wrong with paying for stuff at 0% interest over a period of time. I actually have $2,500 on a 0% card right now that I am paying off slowly.... But I did just buy an i7 in cash so go figure...
http://www.creditcards.com/0-apr-credit-cards.php
a 0% APR card and pay it off in a year or even transfer to another 0% card after the introductory APR. I see absolutely nothing wrong with paying for stuff at 0% interest over a period of time. I actually have $2,500 on a 0% card right now that I am paying off slowly.... But I did just buy an i7 in cash so go figure...
She can create an apple ID in about 60 seconds when she needs it but I can't comment about apple finance one way or the other.
I do recommend getting an Amazon based credit card for several reasons. First, you get 1% back on all charges which can be applied towards purchases on amazon. All amazon charges get 3% back. Amazon is a great place to buy mac because 1) depending on the state you pay no tax, 2) the price is often less than the apple store and 3) you save 3% when you use an Amazon charge card. I purchased my MBP from Amazon, no tax, free shipping, about $50 extra savings from buying from Amazon plus a incredible price because I purchased a black friday deal. Apple store had a $100 off macs on Black Friday so $1699 plus 7% tax. Instead I purchased for $1,675, no tax, and got another $50 or so savings from the charge card making it $1,620 for my new mac.
I shop a lot on amazon so this card saves me hundreds/year.
I do recommend getting an Amazon based credit card for several reasons. First, you get 1% back on all charges which can be applied towards purchases on amazon. All amazon charges get 3% back. Amazon is a great place to buy mac because 1) depending on the state you pay no tax, 2) the price is often less than the apple store and 3) you save 3% when you use an Amazon charge card. I purchased my MBP from Amazon, no tax, free shipping, about $50 extra savings from buying from Amazon plus a incredible price because I purchased a black friday deal. Apple store had a $100 off macs on Black Friday so $1699 plus 7% tax. Instead I purchased for $1,675, no tax, and got another $50 or so savings from the charge card making it $1,620 for my new mac.
I shop a lot on amazon so this card saves me hundreds/year.
I would take full advantage of no interest financing when available. Its one thing to have money, its another thing to use it correctly.
Hmmm.... Lay out $2000 all at once, or spread it out OVER A YEAR WITH NO INTEREST.... What to do what to do?
I guess some people just do not think when they spend their money.
You do not need an apple id to apply for the financing with Apple. Barclays offers 12 months with no interest, if you qualify. While it would be wonderful to just be able to pay for an iMac all at once, nothing wrong with using credit-- as long as you can afford it and pay it off before the no interest ends. I know in the past I used to be able to take a large chunk of money to buy something I wanted, but once I became a home owner,I started using credit a lot more. If someone offers no interest, may as well take advantage of it-- better for the bank account too.
Another alternative. With a Discover Card you can get 5% cash back on an on-line Apple store purchase (includes refurbs). It depends on your financial situation, but I know that for me that's a much better deal than 0% financing for a year since I can't get 5% interest on the money anywhere.
(I just realized that if payments have to be made over the year, an average of 50% is financed over that time, so it would take 10% interest on my money to be better than the Discover Card compared to 0% financing.)
(I just realized that if payments have to be made over the year, an average of 50% is financed over that time, so it would take 10% interest on my money to be better than the Discover Card compared to 0% financing.)
Or it could be that some people don't like the idea of using credit for lots of different reasons. For example what if they lose their job and can't pay back. The interest kicks in and you are screwed. It's happening all over the world. The economy is screwed because everyone from governments to businesses to consumers have adopted the have now, pay later mentality.
Me I have no debt. I paid of my mortgage as quickly as I could and save as much as I can. When I want to buy a shinny new iMac, I will pay cash.
WARNING: Do a little research on APPLE CREDIT, or Barclay Bank, or Juniper Banks whichever bank is truly doing the financing.
Apple Corporations DOES NOT FINANCE anyone as best as I know .... another bank does it and put's Apple's name on the credit card.
I recall reading things that were not so good about it.
Pay CASH if you have it, if not look for other finance options like maybe your Credit Union.
Apple Corporations DOES NOT FINANCE anyone as best as I know .... another bank does it and put's Apple's name on the credit card.
I recall reading things that were not so good about it.
Pay CASH if you have it, if not look for other finance options like maybe your Credit Union.
Thanks for the replies,all very interesting.
No I am not trying to use a fraudulent credit card,I have an Apple ID,but I doubt I would get credit as I am 65,and a pensioner,pensioners don't usualy get credit.
However,I digress,why should I spend my money when I can use someone else's,interest free.
So that's what I will be doing,just need to wait for Apple to announce the new iMac and it will be mine.
Alan
No I am not trying to use a fraudulent credit card,I have an Apple ID,but I doubt I would get credit as I am 65,and a pensioner,pensioners don't usualy get credit.
However,I digress,why should I spend my money when I can use someone else's,interest free.
So that's what I will be doing,just need to wait for Apple to announce the new iMac and it will be mine.
Alan
But if you miss that last payment by just one day, BOOM, you get hit with the years interest in one lump payment.
Credit properly managed is a good thing, however not all things should be financed and I for one tend to think a computer is one of those things.
Properly managed, debt/credit is more an asset than a liability. I typically will not finance most things I can afford to pay cash with directly. However if I am out looking for a new camera, computer, or tractor I usually have the cash on hand to make the purchase.
However if there are any 0% financing deals I will take advantage of those and at the same time make money with all but zero risk to me.
How's that work?
Say I want to buy a $12,000 Tractor and they offer 0% at 36 months. I will do two things.
1st) I will secure that 0% loan on the tractor
2nd) I will take the $12,000 and divide it among several interest bearing investment items. Bank Account/Certificate Of Deposit anything that bears interest with minimal risk.
So what if my $12,000 is only getting 2%, that is 2% over what I am paying for the tractor.
Lose my job? No big deal, just make payments out of the $12,000 I put in the bank.
I'm just not a fan of the banks that Apple uses for their programs.
Understandable. I've financed a few items with 0% financing promotions in which I purposely budgeted myself accordingly to avoid accrued interest. But to each their own!