Apple Stores and Apple.ca to start financing on iPhones Aug 11

[smp99]

Apparently, starting Aug 11, Apple will offer a financing option when purchasing a new iPhone from one of their stores or online at apple.ca

I called an Apple store and he would not confirm but did say that there are rumours. I asked if the rumours were for an Aug11 start date and he said yes. 

Terms are apparently for 12 or 24 months and I have also heard that there will be an initial kickoff promotion of interest free. In addition, any trade-in allowance will still be honoured.

This could be a great option for PM clients wanting to upgrade their phone without having to go to another carrier for financing.

[Danmal59]

Obviously not August 2022 or did I miss it? Is are a follow up on this?

[BlueB]

@softech 

Great idea and good thoughts... the only trouble with some businesses is that it opens up a new set of business operations that can be costly to manage financing, etc.  It's great for the consumer, but I can see some businesses not wanting to offer this service/feature with the added costs of people, resources, risk, etc.

[softech]

.. i hope that would encourage more store, like Bestbuy  Costco  etc, to sell phones with financing and without terms from carriers.    At the moment, everywhere is just selling phones for carriers to earn their activation commission.

[mintpanda]

Payment plans with carriers (I'm with Rogers, formerly with Fido on my main line and having Public now as secondary line), sometimes seem to have lower price if multiplied by 24, but actually that prevents you from going for any deals in future. But payment plan with Apple Store may not offer discounted price, but it would offer freedom for customers to move carrier if they find better deal. So I guess it's nice move.

[Yummy]

It is called pfongage considering how much their phones cost.

[BlueB]

Technology is always expensive... and considering what it can do these days is pretty impressive.  Even when brick phones were first introduced, they were really expensive, but the advantage of having a "cordless phone" when you're not at home (or in your car) was revolutionary.  Then again, fine dining is also expensive, along with girlfriends, anniversaries, travel/vacations... 😅

[softech]

0% is good.. and I think 12 months and 24 months are reasonable

Phones these days are expensive.. monthly payment is not bad.. especially it is not tied with carriers

[smp99]

So this is live as of today

iPhones - up to 24 months at 0%

iPads and Macs - 12 months at 0%

Financing and Credit - Apple (CA)

[Anonymous]

I think we all know what interest free really means.

If one is entertaining this idea then one might want to calculate out to 2 years what the total cost comes to and balance that against the somewhat subsidized final outlay with a provider that sells the phone.

But who does that? Not me. I want the phone, I want it now, buy it outright if I can afford it or pay for it over time by either a loan (like this) or subsidized by a carrier.

I get it.

Edit: But isn't it crazy what this has come to? Gotta take out a loan to buy a mobile communication device? I suppose it would be a good way for younger people (or credit troubled people) to build their credit scores. I wonder if Apple would deny someone based on their credit score?

[softech]

it's about time.. I think Samsung has been doing financing for sometime..