Apple seemingly halts product financing for UK customers

Posted:
in General Discussion edited May 2018
Apple has apparently discontinued product financing in the UK, as the company on Tuesday removed an informational webpage detailing those options and scrubbed its regional online store of references to installment plans.

UK Financing
Cached version of Apple's UK financing webpage.


While not confirmed, modifications to Apple's UK site strongly suggest the firm is no longer offering consumer financing through its online and physical retail channels.

As noted by MacRumors, which spotted the change, Apple's dedicated UK financing page is no longer active. Links to the now vacant web asset redirect to Apple's homepage.

In addition, financing options are no longer displayed when placing online orders. Prior to the change, an "Instalments" button appeared at checkout which, when clicked, allowed customers to select an installment plan offered by PayPal Credit or Barclays.

It appears the policy update applies only to consumers, as educational purchases can still be financed through Apple Financial Services. Apple's iPhone Upgrade Program, which provides financing through Barclays, is also untouched.

Apple previously partnered with PayPal Credit to offer financing on purchases of 99 or more, while Barclays offered payment plans for purchases of at least 399. Both companies promised instant approval decisions and competitive rates starting at 14.9 percent.

Without an integrated installment system backed by third-party vendors, UK consumers in need of financial assistance will need to seek their own credit solutions prior to purchasing Apple products through the Apple store.

As individual financing ends in the UK, Apple is reportedly in talks with Goldman Sachs to offer consumer loans through that company's Marcus product. A relatively new lending service, Marcus integrates with existing checkout systems to present customers loans carrying an interest rate of about 12 percent.

Comments

  • Reply 1 of 8
    crapdaycrapday Posts: 30member
    and just when I had one payment left to pay. Looks like I'll be keeping my iPhone 7 for a bit longer then.
  • Reply 2 of 8
    crapdaycrapday Posts: 30member
    Just had a look and this was there. "What payment methods can I use? You can pay in a variety of ways, including credit cards, debit cards, PayPal or Apple Store Gift Cards for all delivery options. We also offer instalment payments with PayPal Credit or Barclays Financing. For orders where all items will dispatch together you can also pay with Apple Financial Services — just call an Apple specialist on 0800 048 0408 for more information. Learn more about Payment & VAT.".
    edited April 2018
  • Reply 3 of 8
    crowleycrowley Posts: 6,057member
    Weird. I hope this doesn’t affect the iPhone Upgrade Programme when renewal time comes around.
  • Reply 4 of 8
    Rayz2016Rayz2016 Posts: 4,783member
    crapday said:
    Just had a look and this was there. "What payment methods can I use? You can pay in a variety of ways, including credit cards, debit cards, PayPal or Apple Store Gift Cards for all delivery options. We also offer instalment payments with PayPal Credit or Barclays Financing. For orders where all items will dispatch together you can also pay with Apple Financial Services — just call an Apple specialist on 0800 048 0408 for more information. Learn more about Payment & VAT.".
    Mmmm

    So have they stopped offering it, or have they decided not to advertise it?
  • Reply 5 of 8
    shevshev Posts: 81member
    How about readjusting the product price in line with current exchange rates apple you ****S. Were quick enough to hike them after the Brexit fallout but seem to be dragging your feet now it's the other way around. the 15" is currently coming in at $3,300 dollars including tax. YAY
    [Deleted User]alanhargonaut
  • Reply 6 of 8
    shev said:
    How about readjusting the product price in line with current exchange rates apple you ****S. Were quick enough to hike them after the Brexit fallout but seem to be dragging your feet now it's the other way around. the 15" is currently coming in at $3,300 dollars including tax. YAY
    If the UK drops some of the consumer protection laws once they exit the EU, you might find the prices drop. Currently, Apple has to guarantee the product for two years in Europe but only one in the US (AFAIK).
  • Reply 7 of 8
    crossladcrosslad Posts: 501member
    This is from the U.K. website. 
  • Reply 8 of 8
    djsherlydjsherly Posts: 1,022member
    shev said:
    How about readjusting the product price in line with current exchange rates apple you ****S. Were quick enough to hike them after the Brexit fallout but seem to be dragging your feet now it's the other way around. the 15" is currently coming in at $3,300 dollars including tax. YAY
    If the UK drops some of the consumer protection laws once they exit the EU, you might find the prices drop. Currently, Apple has to guarantee the product for two years in Europe but only one in the US (AFAIK).
    What a load of rubbish - 

    Base 13 MBP in the UK in GBP1249 or USD1742
    Base 13 MBP in Aus is AUD1899 or USD1440

    Consumer protection laws in Australia are open-ended. The product needs to last as long as it should given the price and quality that the product is held out to be. I've had no problem getting stuff replaced (after a little encouragement for Apple items that are 3+ years old).


    argonaut
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