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iPhone 6 Purchasing Q: Finance.

T

Trhodezy

macrumors 6502
Original poster
Dec 29, 2010
311
142
Hi there,

Current owner of a OnePlus One but after seeing the latest shots of the iPhone 6 and the very, very, very small possibility that the iWatch will be unveiled with a later release I am starting to consider coming back to the iPhone.

I've just purchased a car and am very reluctant to spend any "large" sum of money for a very long time :D so I was just wondering: Can you finance an iPhone on the day of release/Pre-order day? My credit score is superb so no chance in being declined, so its literally down to Apple allowing the finance option on day of launch.

Thanks very much in advance,
T. :apple:
 
It's a mobile telephone. You've already got a mobile telephone.

If you can't afford to buy it outright, you shouldn't buy it.
 
Trhodezy said:
Hi there,

Current owner of a OnePlus One but after seeing the latest shots of the iPhone 6 and the very, very, very small possibility that the iWatch will be unveiled with a later release I am starting to consider coming back to the iPhone.

I've just purchased a car and am very reluctant to spend any "large" sum of money for a very long time :D so I was just wondering: Can you finance an iPhone on the day of release/Pre-order day? My credit score is superb so no chance in being declined, so its literally down to Apple allowing the finance option on day of launch.

Thanks very much in advance,
T. :apple:
Click to expand...

maybe sell old iphones?
 
Mildredop said:
It's a mobile telephone. You've already got a mobile telephone.

If you can't afford to buy it outright, you shouldn't buy it.
Click to expand...

^^^^^^^^^ PLEASE READ THIS!!

Not understanding this simple rule is why people end up in massive amounts of debt...Today it's it's an iPhone, tomorrow it's a TV, then you'll be buying a 500SL when you should be in a Toyota Tercel....Used....

There is a time when financing makes sense...Buying a cellphone is never ever one of those times...If you can't pay for the phone in full or do the NEXT plan or something similar and absorb the increase in your bill...Just wait...

It's really that simple...You don't have to have the newest iPhone....You do have to eat, and have a roof over your head, and preferably, shoes on your feet...
 
Doing NEXT is still considered financing, just with no interest. I think Apple does no interest for 12 months. Atleast I thought I saw that before.

If you want to finance it, then finance it.
 
I will try to use the financing option to preorder if I can. If it doesn't work, I'll just buy the phone outright.

Not that I can't afford it, but if Apple wants to give an interest free loan for a few months then I'll take it and make gradual payments to smooth out the expense.
 
PM-Performance said:
Doing NEXT is still considered financing, just with no interest. I think Apple does no interest for 12 months. Atleast I thought I saw that before.

If you want to finance it, then finance it.
Click to expand...

Technically I think you are correct...I guess I should have said...Please do not put this on a credit card or some ridiculous interest deferred payment scheme...

Still the safest bet is to just buy the phone out right with cash...

Start saving now...

----------
iBanker said:
I will try to use the financing option to preorder if I can. If it doesn't work, I'll just buy the phone outright.

Not that I can't afford it, but if Apple wants to give an interest free loan for a few months then I'll take it and make gradual payments to smooth out the expense.
Click to expand...

Just make sure you realize the Apple financing offer is interest deferred....

If you do not pay it off in the 12 months for whatever reason, i.e. anything could happen...Or if you are late on a single payment....It's really set up to get the 22%+ interest when the odds are in their favor that one of the two are likely to happen in 12 months...

Then they charge you all the back interest of the previous 12 months on the original purchase amount...Not what you still owe....
 
NickG420 said:
Just make sure you realize the Apple financing offer is interest deferred....

If you do not pay it off in the 12 months for whatever reason, i.e. anything could happen...Or if you are late on a single payment....It's really set up to get the 22%+ interest when the odds are in their favor that one of the two are likely to happen in 12 months...

Then they charge you all the back interest of the previous 12 months on the original purchase amount...Not what you still owe....
Click to expand...

In Canada it's only 3 months, so it's a bit easier to plan in advance. I've used it once before and didn't get hit with the interest.
 
Trhodezy said:
Hi there,

Current owner of a OnePlus One but after seeing the latest shots of the iPhone 6 and the very, very, very small possibility that the iWatch will be unveiled with a later release I am starting to consider coming back to the iPhone.

I've just purchased a car and am very reluctant to spend any "large" sum of money for a very long time :D so I was just wondering: Can you finance an iPhone on the day of release/Pre-order day? My credit score is superb so no chance in being declined, so its literally down to Apple allowing the finance option on day of launch.

Thanks very much in advance,
T. :apple:
Click to expand...

It's a shame, your dealership didn't give you an iPhone with the purchase of a car. :D A friend purchased a car and received an iPad Air.

Maybe, work a little extra over time. Too many people live on credit. If you can't afford it, buy later. Ugh! consumerism is what America is about.
 
iBanker said:
I will try to use the financing option to preorder if I can. If it doesn't work, I'll just buy the phone outright.

Not that I can't afford it, but if Apple wants to give an interest free loan for a few months then I'll take it and make gradual payments to smooth out the expense.
Click to expand...

Respectfully, you're only kidding yourself. Zero interest or not, if you can't easily afford it. Be mature and say no.
 
I didn't realize this was a financial advice forum.
OP just asked if Apple allows release day/pre order day financing.

I don't see why not, they've always had the BillMeLater option, I think.
 
Buy it outright or don't buy it. Loans only make sense for houses, cars (if you need it for commuting, not just to get the latest model) or education.
Personally I only ever borrowed money for a house.
I will be buying my iPhone 6 on launch day for cash.
 
andyw715 said:
I didn't realize this was a financial advice forum.
OP just asked if Apple allows release day/pre order day financing.

I don't see why not, they've always had the BillMeLater option, I think.
Click to expand...

THIS!!!!
I guess everyone on MacRumors has $600-$900 laying around cash yearly for upgrades.
 
PM-Performance said:
So is having the money to plop down $600-900 on a phone regardless of the payment method.
Click to expand...

Not really....

It's called setting a savings goal and achieving it....If I know that come next October I'm going to want the new iPhone and I am not selling the one I have now I know I need $600-$800...So I have 8-9 months if I start Dec/Jan....That's roughly $100 a month I need to save...

That's easy...Stop going to Starbucks and bag lunches more per week...BOOM! Done...If I am selling the current phone I have then it becomes even easier...

It's takes planning and discipline....Some have it....Some don't....

And before anyone starts with the "Well everyone can't put away $100 a month..." BS....

If that's the financial position you are in....You probably shouldn't be buying a $600-$800 phone to begin with...
 
Trhodezy said:
Hi there,

Current owner of a OnePlus One but after seeing the latest shots of the iPhone 6 and the very, very, very small possibility that the iWatch will be unveiled with a later release I am starting to consider coming back to the iPhone.

I've just purchased a car and am very reluctant to spend any "large" sum of money for a very long time :D so I was just wondering: Can you finance an iPhone on the day of release/Pre-order day? My credit score is superb so no chance in being declined, so its literally down to Apple allowing the finance option on day of launch.

Thanks very much in advance,
T. :apple:
Click to expand...


You best bet would probably be to take out a contract than to do Finance with Apple on an iPhone. Just my opinion though :)
 
NickG420 said:
Not really....

It's called setting a savings goal and achieving it....If I know that come next October I'm going to want the new iPhone and I am not selling the one I have now I know I need $600-$800...So I have 8-9 months if I start Dec/Jan....That's roughly $100 a month I need to save...

That's easy...Stop going to Starbucks and bag lunches more per week...BOOM! Done...If I am selling the current phone I have then it becomes even easier...

It's takes planning and discipline....Some have it....Some don't....

And before anyone starts with the "Well everyone can't put away $100 a month..." BS....

If that's the financial position you are in....You probably shouldn't be buying a $600-$800 phone to begin with...
Click to expand...


My point is who cares how he pays for it. He just asked a simple question that needed a simple answer.
Not everyone on the forums needs to know everyones financial situation or why they make their purchases and what method.
 
iososx said:
Respectfully, you're only kidding yourself. Zero interest or not, if you can't easily afford it. Be mature and say no.
Click to expand...

I said I would just buy it outright if there was no financing option. It is easily affordable, could buy a dozen right now. Being able to defer payment at no cost is usually worth it, maybe not as much for such a low amount, but that money will be worth less later than today.
 
PM-Performance said:
My point is who cares how he pays for it. He just asked a simple question that needed a simple answer.
Not everyone on the forums needs to know everyones financial situation or why they make their purchases and what method.
Click to expand...

In his questions he does allude to his finances with the mention of the purchase of a car. He could have just asked if apple can finance the phone without the other reference.
 
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