Who financed & Who paid cash for their computer?

Discussion in 'Community Discussion' started by Doc750, Feb 7, 2011.

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How did you pay for your computer purchase?

  1. Various Financing option (Within the USA)

    9 vote(s)
    8.6%
  2. Paid Cash (Within the USA)

    62 vote(s)
    59.0%
  3. Various Financing option (Outside the USA)

    2 vote(s)
    1.9%
  4. Paid Cash (Outside the USA)

    30 vote(s)
    28.6%
  5. Other: explained below

    4 vote(s)
    3.8%
  1. Doc750, Feb 7, 2011
    Last edited: Feb 7, 2011

    Doc750 macrumors 6502a

    Joined:
    Aug 11, 2010
    #1
    This topic is from another thread, and it made me curious. I'm just going to post an anonymous poll. No one will know your response, so no need to lie.

    How many of you purchased your macbook with cash, versus those who financed their purchase. Now I know credit is a lot easier to get here in the US, so I put in options for people outside of the US as well. Just to see fi there was a difference between those in and outside the USA.

    Financing would include any bank financing, credit card financing options, billmelater, etc. Even if it was 0.0% financing charges.

    Cash includes using a check, debit card, a credit card but paid the entire balance off at the end of the month.
     
  2. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #2
    Financing a computer is perhaps one of the dumbest things one can do with their money IMO.

    I always pay cash for my computers, I'd never finance one. And by cash, I mean I pay with a credit card for the points and protection, and pay it off immediately. I wouldn't actually walk into an Apple Store with $1500 in cash. That's almost as dumb as financing a computer.
     
  3. simsaladimbamba

    Joined:
    Nov 28, 2010
    Location:
    located
    #3
    Cash, I have accumulated enough debt during my drug years.
    In it is quite funny to watch the teller count the bills, though using 50€ notes makes it a bit hard on testing the notes. But that was only once.
    I think I only bought my first Mac via EC card, the rest (four) has been bought with live money.
     
  4. DoFoT9 macrumors P6

    DoFoT9

    Joined:
    Jun 11, 2007
    Location:
    Singapore
  5. ravenvii macrumors 604

    ravenvii

    Joined:
    Mar 17, 2004
    Location:
    Melenkurion Skyweir
    #5
    Unless it's one of those "no interest for 12 months" things. Then it's an awesome deal - it's just so much easier to pay ~$200 a month, and pay it all off before the 12 months is up, and you didn't pay interest at all.

    Otherwise, I agree that to finance a computer is absolutely stupid.
     
  6. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #6
    I wouldn't want the hit to my credit report. Besides, with those, you have to read the fine print on those closely. If you're so much as a minute late with a payment, they'll slap you with an outrageous late fee and charge you nearly 30% in interest.
     
  7. Doc750 thread starter macrumors 6502a

    Joined:
    Aug 11, 2010
    #7
    I use the 12 month 0.0% financing option, and pay early. I don't wait till the last day it's due. Ive never had a problem. And now with apps on your phone to remind you, auto pay features, etc. There really is no reason to have a late payment.

    And once you pay it off on time, it's actually not a hit on your credit. It might actually improve your credit by raising your credit to debt ratio.
     
  8. HE15MAN macrumors 6502a

    HE15MAN

    Joined:
    Sep 3, 2009
    Location:
    Florida's Treasure Coast
  9. Phil A. Moderator

    Phil A.

    Staff Member

    Joined:
    Apr 2, 2006
    Location:
    Shropshire, UK
    #9
    I don't have a credit card (I used to have, but after my business went bust 2 years ago, due in part to the bank pulling my financial backing, I decided I'd avoid all credit, whether personal or professional), so everything I buy nowadays is with a debit card or cash
     
  10. Thomas Veil macrumors 68020

    Thomas Veil

    Joined:
    Feb 14, 2004
    Location:
    OBJECTIVE reality
    #10
    One month my online store netted me $1200 in sales, which I promptly turned around and sent to Apple in exchange for a new iMac. :)
     
  11. NickZac macrumors 68000

    NickZac

    Joined:
    Dec 11, 2010
    #12
    When I got my first MBP, I was in school and broke as could be. I financed it and looking back it was one of the best things I could have done with my money as it has helped me succeed for far longer than it took to pay it off. If you have the money, than financing usually makes no sense. For people on a limited income, it can be a blessing.
     
  12. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #13
    Cash, and it hurt my back more than my wallet, carrying that sucker back to God-knows-where in the parking-lot.

    Very poor planning on my part.

    (iMac 24" Alu, circa 2008, she'll be 3 this month.)
     
  13. ender land macrumors 6502a

    Joined:
    Oct 26, 2010
    #14
    Cash.

    I like to avoid debt.

    My only debt right now is a modest car loan, which I could pay off now if I wanted. Currently waiting until I have a bit more in savings prior to doing that however.
     
  14. stridemat Moderator

    stridemat

    Staff Member

    Joined:
    Apr 2, 2008
    Location:
    UK
    #15
    I used a 13 month interest free credit card. I brought my new iMac and then stored the card away. I thought to myself that I would rather keep the £1,500.00 in my bank account and pay the iMac over the interest free period by direct debit. Works for me.
     
  15. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #16
    I am with you. On my laptop I bought for school I charged the $1500 or so to my AMEX card then just paid it off when the bill came and did not pay a penny in interested.
    I charge it that way for the cash back reward. Same reason I charge school to my card and pay it off.
     
  16. ravenvii macrumors 604

    ravenvii

    Joined:
    Mar 17, 2004
    Location:
    Melenkurion Skyweir
    #17
    This. If you can't handle credit, it's your own fault, not us. We who could handle credit benefit from it.

    I use my credit card for everything, as well. I pay it all in full every month and pay not a penny in interest. Instead, I get 1% back in cash. It's silly to use cash when I can technically get 1% off everything I buy just by using my credit card.
     
  17. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #18
    They positively loath people like us.

    Scruples are a mystery to C.C. companies.

    Disgusting.
     
  18. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #19
    I know, they hate us. I've gotten several hundred dollars in $25 AmEx gift cards and $25 Amazon gift certificates from both of my cards over the years and haven't given them a single penny in return. It's free money if you know how to properly handle a credit card.

    And looking at both of my recent statements, I should have both an Amazon gift certificate and AmEx gift card coming in a few weeks.

    Edit: I take that back, I have given them some extra money in addition to what I charge on the card. Damn foreign transaction fees. But I've still come out ahead.
     
  19. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #20
    well you may of not given them anything but the places you buy from have been giving them between 2-5% of everything you buy.

    I pick it up from my parents this "bad habit" of paying off my credit cards in full every month from my parents. Well it is a bad habit to the credit card companies. Good habits for the rest of us.
     
  20. ender land macrumors 6502a

    Joined:
    Oct 26, 2010
    #21
    Depending on who you bank with, you might consider checking if the giftcards are "more expensive" than just getting cash back.

    For my bank every single "cash" option is better than an equivalent gift card.
     
  21. torbjoern macrumors 65816

    torbjoern

    Joined:
    Jun 9, 2009
    Location:
    The Black Lodge
    #22
    Same here. I clicked "Cash outside the US". I pay it off the day before they start charging interest to the purchase. Then it's not to be counted as "financing" even though a credit card was used during the transaction.
     
  22. lewis82 macrumors 68000

    lewis82

    Joined:
    Aug 26, 2009
    Location:
    Totalitarian Republic of Northlandia
    #23
    I paid it in its entirety, using my debit card, but using a government loan for students, given in order to help us purchase a computer.

    I don't have any interest to pay until I'm done with school (read: 5 years, 7 if choose the master's degree route).
     
  23. iJohnHenry macrumors P6

    iJohnHenry

    Joined:
    Mar 22, 2008
    Location:
    On tenterhooks
    #24
    Yes, but he is not an accomplice in this.

    If the retailer gave a similar discount for cash, to offset the credit over-head, the C.C. company will pull their card from his store.

    Few retailers could stand this punishment.
     
  24. Melrose Suspended

    Melrose

    Joined:
    Dec 12, 2007

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