Need help! Student financing a MacBook!

Discussion in 'Buying Tips and Advice' started by BaddestArvai, Apr 27, 2014.

  1. BaddestArvai macrumors regular

    Joined:
    Mar 21, 2014
    Location:
    Wisconsin USA
    #1
    So as you can see from the title, I am a college student in need of finance for a MacBook Pro. First of all, I have a full time job as well as school, so I do have steady income. I would like to get a new 13" Retina MacBook Pro ($1499) for next school year, but will need it for the summer as well. This is why I would like to finance. I know you can apply for the Barclays, but I have not yet built up a credit score. My income is around $900 per month. Also, would I be able to get the student discount with it? I would like to hear what other people have to say about their purchases using Barclays. Here are some of my questions about the card:

    -Is there no interest if payments are on time and the item is payed in full within the 12 months?

    -Can I make a down payment?

    -Can I pay more back at one time if I have the extra money?

    Any help would be appreciated!
     
  2. swiftaw macrumors 603

    swiftaw

    Joined:
    Jan 31, 2005
    Location:
    Omaha, NE, USA
    #2
    If you qualify for the card, then based on the item you are wanting to purchase it would be 12 month interest free credit. That means, provided you make the minimum monthly payment on time and pay off the entire balance by the end of 12 months, you won't pay any interest. HOWEVER, if you violate any of these conditions you will be retroactively charged all the back interest for the 12 months.

    You can pay any amount each month, as long as it is at least the minimum.
     
  3. mad3inch1na macrumors 6502a

    Joined:
    Oct 21, 2013
    #3
    Hi BaddestArvai,

    I don't know anything about financing, but you can get student pricing pretty easily. I think you can get it as long as you are a high-school student, or have a .edu email address from your university.

    If you don't do financing, you can get the rMBP you are looking for on B&H Photo for 1469$ tax free, because they are based out of New York. They are a certified seller. I haven't purchased from them, but I've heard good reviews.

    Here is a link:
    http://www.bhphotovideo.com/c/product/1010902-REG/apple_me865ll_a_13_3_macbook_pro_notebook.html

    Best of luck,
    Matt
     
  4. SCOLANATOR macrumors 6502a

    SCOLANATOR

    Joined:
    Jul 3, 2013
    Location:
    UK
    #4
    I bought mine last year with the student discount £1869 down from £2199 + warranty extended to 3 years for free. I don't know about financing - just bought it outright. But if you can afford to pay it back within the 0% interest window then it shouldn't be a problem (providing you can get accepted for it). I'm currently using a high interest credit card and spending about £30 a month then paying it off each month in order to build a good credit history. Might be worth a try.
     
  5. Gregintosh macrumors 68000

    Joined:
    Jan 29, 2008
    Location:
    Chicago
    #5
    To answer your first questions: Yes, you can make a downpayment (just plop down some cash on the counter and tell them to put the rest on the card). You are not penalized for making early payments. Also, as long as you finish within 12 months you aren't charged any interest.

    Be careful about the 12 months though, I have heard stories where someone bought something on a 15th but their billing cycle wasn't until the 20th (or another date later) and so when the final bill came, technically they went over their 12 months by a few days (even though it was just the 12th bill) and they got charged the interest.

    Not sure if thats how the Apple card works but scummy things like this are how these companies make a good chunk of change, so don't leave things until the last minute. Pay it off in 11 if you can just to be safe.

    *** BTW, have you considered getting a refurb? You can get an original retina 13 inch pro for just $1,059 on Apple's refurb store. I would venture to say that it would be MORE than adequate for your college needs and you'd save about $500.

    OR if you want to pay $30 more than you originally intended and go to $1529, you can get the current gen refurb of the 13 inch retina with 512GB SSD. To me its a steal, and certainly a much better value than buying new for $1499.

    In case you aren't familiar, Apple takes the guts out of returns or repairs (most probably returns) and puts them in an all new chassis and slaps a 1 year warranty on them.... so basically they are just like new units in every respect.

    I'd strongly recommend checking out the refurb store on Apple's website (link at the bottom of the main store page) and taking advantage there!
     
  6. BaddestArvai thread starter macrumors regular

    Joined:
    Mar 21, 2014
    Location:
    Wisconsin USA
    #6

    Yeah I know about Apple refurb products and I may get that one. Also, I would like to see if I will be eligible for the card. It says once the form is filled out, you will know if you are qualified. Does that mean I am bounded to this card if I am accepted?
     
  7. Gregintosh macrumors 68000

    Joined:
    Jan 29, 2008
    Location:
    Chicago
    #7
    Yes, if your application is approved you will get the card in the mail. You don't have to use it though, so if you don't need a credit card you can always cancel. Though for me the Apple card would be good only to take advantage of the no interest buying, as there are better consumer credit cards out there for general purpose (in the US, the Chase Freedom comes to mind which gives you cash back on every purchase).

    Unless you have a lot of delinquencies in your credit report you will probably be approved, so don't apply until you are ready to buy.
     
  8. MaxinMusicCity macrumors regular

    Joined:
    Mar 20, 2013
    Location:
    Nashville
    #9
    You could save up until the time you really need to get the computer. That way you'd have a nice fat downpayment and would only have to finance the difference. I know...it takes strong willpower.

    Stay out of credit cards as much as you can. Debt can snowball over time if you're not careful!

    Whatever you do...attack that debt as fast as you can and kill it! Make that a lifetime habit and you'll never regret it.

    :cool:
     
  9. BaddestArvai thread starter macrumors regular

    Joined:
    Mar 21, 2014
    Location:
    Wisconsin USA

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