Carrier Trying to understand T-Mobile iPad Air Offer

[s2mikey]

I'm not really a fan of the whole "pay for your phone/tablet in monthly instalments" strategy. I realize that it's 0% interest and all, but let's get realistic here: If you can't afford to pay for the device upfront, then you shouldn't be buying it in the first place.

IMHO, the only items that should warrant monthly payments are the typical high-end purchases: a new home, car, education, etc...not a $600-$800 tablet that will lose its status in a year when the next one is released.

No offence to anyone here, but it's almost laughable that some people would be willing to give up a hard inquiry on their credit profile just to finance a $600 tablet for 200MB/mo free data.

I disagree. Borrowing money for FREE is the best way to borrow money. We do it all the time with Home Depot, best buy, and lots of other places. If someone is going to let you borrow money interest free then you go ahead and do it. Just be sure to make the payments on time and in full. I understand that some people truly cannot afford these devices but for most people financing is just fine.

 

[applegeek25]

I disagree. Borrowing money for FREE is the best way to borrow money. We do it all the time with Home Depot, best buy, and lots of other places. If someone is going to let you borrow money interest free then you go ahead and do it. Just be sure to make the payments on time and in full. I understand that some people truly cannot afford these devices but for most people financing is just fine.

The problem is that some people will face an unexpected change in their financial situation and won't be able to continue making the $20+/mo payments.

 

[cardfan]

I'm not sure how this is a good deal. The free data tmobile offers would be used up in less than 30 mins. They don't even subsidize it.

I'm on Verizon with a data share plan. I only pay 10 a month for it. Plus I buy the ipad at over half off since you get a subsidy.

 

[nostresshere]

I'm not sure how this is a good deal. The free data tmobile offers would be used up in less than 30 mins. They don't even subsidize it....

The free usage will work just fine for many people. Maybe they only need 20 minutes. It is a very good people for many people.

 

[bigdaddyc188]

I'm not sure how this is a good deal. The free data tmobile offers would be used up in less than 30 mins. They don't even subsidize it.

I'm on Verizon with a data share plan. I only pay 10 a month for it. Plus I buy the ipad at over half off since you get a subsidy.

What about those of us on verizon that still have unlimited data. Paying 30$ a month is ridiculous. So the T-Mobile offer is good especially if you are like me who is on wi-fi the majority of the time and just need it when in a jam.

Also the comments about paying the extra $130 for the LTE - again who cares same of us who max out the macbook pros and purchase them. Do we really need it maybe not.

 

[dtlee1974]

I'm not really a fan of the whole "pay for your phone/tablet in monthly instalments" strategy. I realize that it's 0% interest and all, but let's get realistic here: If you can't afford to pay for the device upfront, then you shouldn't be buying it in the first place.

IMHO, the only items that should warrant monthly payments are the typical high-end purchases: a new home, car, education, etc...not a $600-$800 tablet that will lose its status in a year when the next one is released.

No offence to anyone here, but it's almost laughable that some people would be willing to give up a hard inquiry on their credit profile just to finance a $600 tablet for 200MB/mo free data.

I plan on taking this offer and it isn't because I can't pay cash. If someone is giving you 0% on a purchase with no strings attached and real inflation is running 5+%, you're an idiot not to do it. Unless you plan on buying a house in the next 6 months, hard inquiries don't matter that much (and don't matter much even if you do.) If your credit score is marginal, then yeah you should avoid them. If you have 750+ credit, a single hard pull isn't going to do much.

 

[rui no onna]

I disagree. Borrowing money for FREE is the best way to borrow money. We do it all the time with Home Depot, best buy, and lots of other places. If someone is going to let you borrow money interest free then you go ahead and do it. Just be sure to make the payments on time and in full. I understand that some people truly cannot afford these devices but for most people financing is just fine.

I agree. As long as you have the cash to cover the amount you're financing, it's fine. Besides, these things lose value very quickly. I just view the EIP similar to a computer lease.

 

[darngooddesign]

I'm trying to understand the new T-Mobile offering for the iPad Air...

What did T-Mobile say when you called them?

 

[nixiemaiden]

I agree. As long as you have the cash to cover the amount you're financing, it's fine. Besides, these things lose value very quickly. I just view the EIP similar to a computer lease.

Most computer leases are ripoffs and by the time you are done paying, you have paid more than twice what you would have spent if you bought it up front.

The way I see it is I can take that $600 and stick it in an account that earns interest while paying back tmobile for 2 years and it is like free money.

 

[nostresshere]

...The way I see it is I can take that $600 and stick it in an account that earns interest while paying back tmobile for 2 years and it is like free money.

ROFLMAO!

Really, how much interest will you get? By the way, zero interest is great, but for a "luxury" item like an Ipad, I prefer to either just buy it, or wait until I have enough money, even at 0% interest.

 

[Thepoobear]

ROFLMAO!

Really, how much interest will you get? By the way, zero interest is great, but for a "luxury" item like an Ipad, I prefer to either just buy it, or wait until I have enough money, even at 0% interest.

Your logic is flawed and wreaks of snobbery.

 

[PBG4 Dude]

ROFLMAO!

Really, how much interest will you get? By the way, zero interest is great, but for a "luxury" item like an Ipad, I prefer to either just buy it, or wait until I have enough money, even at 0% interest.

It isn't only interest, but the present value of future payments. In 2 years, the dollar won't be worth as much as it is today. You'll have paid with more expensive dollars than this guy who financed at zero percent.

 

[nolegirl]

Just out of curiosity, does anybody really anticipate taking the entire two years to pay it off?

 

[rui no onna]

Just out of curiosity, does anybody really anticipate taking the entire two years to pay it off?

That depends. If the new iPad has stuff I want, either pay off or trade-in after the first year. If not, then yes, I'll just pay the installment for the entire two years.

 

[nixiemaiden]

ROFLMAO!

Really, how much interest will you get? By the way, zero interest is great, but for a "luxury" item like an Ipad, I prefer to either just buy it, or wait until I have enough money, even at 0% interest.

If I manage my same rate of return for the next couple of years it will be an extra $50-$100. Sure over 2 years that isn't much but I'm not turning down free money.

 

[nolegirl]

That depends. If the new iPad has stuff I want, either pay off or trade-in after the first year. If not, then yes, I'll just pay the installment for the entire two years.

Are you going with ATT? If so, what if you want to pay more on the ipad? Are they going to separate it out from your original bill, or what?

 

[Julien]

ROFLMAO!

Really, how much interest will you get? By the way, zero interest is great, but for a "luxury" item like an Ipad, I prefer to either just buy it, or wait until I have enough money, even at 0% interest.

Do you have any CCs with a carry over balance? If so you would benefit substantially by interest free financing and using the balance of the money to pay down your CCs high interest balance.

Just one of the MANY ways interest free financing can benefit you. FACT: Interest free financing is economics 101 free money. Any economist or accountant will tell your this.

 

[PBG4 Dude]

Just out of curiosity, does anybody really anticipate taking the entire two years to pay it off?

After a while, that $25/mo would become annoying, IMO. One more thing to remember, and that alone won't be worth $25/mo for long lol.

 

[TWO2SEVEN]

After a while, that $25/mo would become annoying, IMO. One more thing to remember, and that alone won't be worth $25/mo for long lol.

I would think that there is a good chance that they will offer auto pay, just like with a phone (or most other) bill.

 

[Julien]

After a while, that $25/mo would become annoying, IMO. One more thing to remember, and that alone won't be worth $25/mo for long lol.

No offense but you must not be an adult saddled with bills and responsibility. If so 1 more monthly bill is just that: Only 1 more monthly bill. Also use Reminders on your new iPad for all your bills and you NEVER have to remember.

 

[rui no onna]

Are you going with ATT? If so, what if you want to pay more on the ipad? Are they going to separate it out from your original bill, or what?

Nope. Trying out T-Mobile. On AT&T, I don't think you can pay higher than the monthly installment plan but I do believe there's no penalty for paying off the balance early. Same with T-Mobile, I would think.

Instead of increasing your monthly payments, you could always just squirrel away the extra funds into a savings account and then just pay off the device once you've saved enough. It's not like you're paying more in interest if you don't pay down the balance.

As for one more monthly bill: auto-pay.

 

[zhenya]

Will I be able to buy a T-mobile iPad at Best Buy? I don't really care about the financing, I might take it if it was convenient, but I have not problem paying cash. I would like to consider buying a T-mobile iPad just for the free data though. I rarely need to use cellular, but it might be worth the $129 upgrade from wifi only just to have it available.

 

[PBG4 Dude]

No offense but you must not be an adult saddled with bills and responsibility. If so 1 more monthly bill is just that: Only 1 more monthly bill. Also use Reminders on your new iPad for all your bills and you NEVER have to remember.

Dude... I own one home and completed a down to the studs demo and remodel of my current home 2 years ago. I know a thing or two about bills. obviously there's auto pay, I'm talking about the repetitive stabbing of my wallet month after month when I could just get it done and not think about it any more. Not talking about missing a bill, just that, "oh yeah, that bill again" at reconciliation time.

 

[zhenya]

Dude... I own one home and completed a down to the studs demo and remodel of my current home 2 years ago. I know a thing or two about bills. obviously there's auto pay, I'm talking about the repetitive stabbing of my wallet month after month when I could just get it done and not think about it any more. Not talking about missing a bill, just that, "oh yeah, that bill again" at reconciliation time.

I agree. Autopay would be an absolute necessity.

 

[predation]

I'm not really a fan of the whole "pay for your phone/tablet in monthly instalments" strategy. I realize that it's 0% interest and all, but let's get realistic here: If you can't afford to pay for the device upfront, then you shouldn't be buying it in the first place.

IMHO, the only items that should warrant monthly payments are the typical high-end purchases: a new home, car, education, etc...not a $600-$800 tablet that will lose its status in a year when the next one is released.

No offence to anyone here, but it's almost laughable that some people would be willing to give up a hard inquiry on their credit profile just to finance a $600 tablet for 200MB/mo free data.

different strokes for different folks.
regardless of the amount of money, some people would rather have free'd up liquidity to make money..

i took the 24 month interest free from apple for two full priced iphone 5s. yeah i could have paid all of it up front, but i'd rather take a nominal credit check and use that $1500 and invest it into something else...

so according to you, I shouldn't have purchased my phones??