Apple wants to make it easier to afford pricey products, in talks for new financing deal w...

2»

Comments

  • Reply 21 of 35
    Can anybody say Apple Pay? Lol.
  • Reply 22 of 35
    The problem is that our products are too expensive. And the solution is financing?

    Financing makes things more expensive and punishes people who can't figure that out. So is Apple trying to punish the financial illiterate?

    Maybe they should just try lowering their MSRPs. They really don't need another $100 billion in the bank, it's not like they're doing much with that cash.
  • Reply 23 of 35
    SoliSoli Posts: 10,033member
    The problem is that our products are too expensive. And the solution is financing?

    Financing makes things more expensive and punishes people who can't figure that out. So is Apple trying to punish the financial illiterate?

    Maybe they should just try lowering their MSRPs. They really don't need another $100 billion in the bank, it's not like they're doing much with that cash.
    There are sp many problems with your comment that I don’t know where to begin.
    edited February 2018 StrangeDays
  • Reply 24 of 35
    Soli said:
    Does this (or any payment plan) really make it easier to afford, or just make it easier to buy?
    Obviously a bit of both, handy for students and such.
  • Reply 25 of 35
    Just patiently waiting for Apple to bring out their own Credit Card now.
  • Reply 26 of 35
    foggyhillfoggyhill Posts: 4,767member
    The problem is that our products are too expensive. And the solution is financing?

    Financing makes things more expensive and punishes people who can't figure that out. So is Apple trying to punish the financial illiterate?

    Maybe they should just try lowering their MSRPs. They really don't need another $100 billion in the bank, it's not like they're doing much with that cash.
    Apple's products have always been expensive (especially regarding inflation) and financed, or you think those $200 phones at telecoms were actually $200.
    StrangeDays
  • Reply 27 of 35
    SoliSoli Posts: 10,033member
    mavemufc said:
    Soli said:
    Does this (or any payment plan) really make it easier to afford, or just make it easier to buy?
    Obviously a bit of both, handy for students and such.

    Is it? Perhaps there's an argument to be made that by buying on credit will help you to make more money and/or money faster which will make the burden of affordability less than having to save up for the total cost up front, but that's a comparison of cost impact.

    mavemufc said:
    Just patiently waiting for Apple to bring out their own Credit Card now.
    You can already get a Apple CC where points go toward Apple Store GCs and you get more points when you shop directly for Apple products and services. No annual fee.

  • Reply 28 of 35
    I'm a big fan of Affirm which offers "checkout loans" and a great app. I like to buy whatever I want when I want and not fret about my weekly / monthly cash flow too much. I make a payment or a few payments then pay off the balance when I have extra money. I've bought mattresses, shoes, furniture... The way its set up, each purchase is a separate loan. I wouldn't compare it to cards or payday loans. For me it seems more responsible than just running up a card and paying off some abstract balance every month. Every payment I make is attached to a specific purchase. The terms range from 3-12 months and when its paid off I get closure for a specific purchase.
    edited February 2018
  • Reply 29 of 35
    Soli said:
    Does this (or any payment plan) really make it easier to afford, or just make it easier to buy?
    Yes it certainly makes it both more affordable and easier to buy. Even more, it’s zero interest. 

    A payment plan means you’re paying from cash flow, not from current assets as a lump sum. Now, you could buy it outright using your credit card, then pay it off in monthly installments at your discretion. But, you’d be paying say 12% interest on the unpaid balance in addition. You would own the phone outright, whereas, using Apple’s payment plan, it’s more like renting since you give Apple the iPhone back when you upgrade after a year. 
  • Reply 30 of 35
    No freakin payment plan is 100% perfect. There will always be something no matter what happens with this. 
  • Reply 31 of 35
    SoliSoli Posts: 10,033member
    larryjw said:
    Soli said:
    Does this (or any payment plan) really make it easier to afford, or just make it easier to buy?
    Yes it certainly makes it both more affordable and easier to buy. Even more, it’s zero interest. 

    A payment plan means you’re paying from cash flow, not from current assets as a lump sum. Now, you could buy it outright using your credit card, then pay it off in monthly installments at your discretion. But, you’d be paying say 12% interest on the unpaid balance in addition. You would own the phone outright, whereas, using Apple’s payment plan, it’s more like renting since you give Apple the iPhone back when you upgrade after a year. 
    That just means revolving credit options make it less affordable since interest adds cost for the sale in exchange for making it easier to buy. More affordable for an iPhone can include buying it from an online store that doesn't charge tax in your state or living in a country with a high import tariff so that, say, buying it in the US to bring back to Brazil makes it more affordable, but those options may also make it more difficult to buy.
  • Reply 32 of 35
    cgWerkscgWerks Posts: 2,843member
    Soli said:
    macgui said:
    But for those who do have a disposable income buffer, interest free financing is very nice.
    I take full advantage of it. Same for buying an automobile with a 0% APR. No reason for me to pull my investments out to pay for big ticket items I don't want.
    Yea, that's about the only time I'll do it anymore besides a mortgage. The key to being financially successful is to stop playing by their rules (i.e.: the debt game). We've eliminated debt (besides student loans from pre-financial smartness), and it has made a huge difference. I bought my car with cash... I buy my computers and phones with cash. If you can't, then you probably can't really *afford* them, as you say. Any time interest is involved, think long and hard to decide if the risk is worth it (assuming you actually have a good plan to pay it off quickly).
  • Reply 33 of 35
    SoliSoli Posts: 10,033member
    cgWerks said:
    Soli said:
    macgui said:
    But for those who do have a disposable income buffer, interest free financing is very nice.
    I take full advantage of it. Same for buying an automobile with a 0% APR. No reason for me to pull my investments out to pay for big ticket items I don't want.
    Yea, that's about the only time I'll do it anymore besides a mortgage. The key to being financially successful is to stop playing by their rules (i.e.: the debt game). We've eliminated debt (besides student loans from pre-financial smartness), and it has made a huge difference. I bought my car with cash... I buy my computers and phones with cash. If you can't, then you probably can't really *afford* them, as you say. Any time interest is involved, think long and hard to decide if the risk is worth it (assuming you actually have a good plan to pay it off quickly).
    I rarely ever have cash on me and never use it for purchases—at least not directly, except for just a few bills that force me to use a debit card, have my bank cut a check from their website/app (I haven't owned a checkbook in a decade), or pay using my account and routing number, I use a CC for nearly everything. I pay them off monthly, and then I get a 1–4% back, depending on the type of purchase. That may seem like a small amount but it does add up.
    cgWerks
  • Reply 34 of 35
    cgWerkscgWerks Posts: 2,843member
    Soli said:
    I rarely ever have cash on me and never use it for purchases—at least not directly, except for just a few bills that force me to use a debit card, have my bank cut a check from their website/app (I haven't owned a checkbook in a decade), or pay using my account and routing number, I use a CC for nearly everything. I pay them off monthly, and then I get a 1–4% back, depending on the type of purchase. That may seem like a small amount but it does add up.
    True, though most people don't have the financial discipline to do that. Nor, do they with those 0% car loans. Luckily, in Canada debit cards rule, and often can make a transaction via Visa/MC, so you can do a debit purchase pretty much everywhere they are accepted (except places that put a hold like car-rental, hotel, etc.). I have a business credit card, and we have one family credit card. Yea, I don't mean cash literally... I don't usually carry cash. (Though, I have my fears about a cashless society... that puts the gov't and institutions in a bit too much control, IMO.)
  • Reply 35 of 35

    mavemufc said:
    Just patiently waiting for Apple to bring out their own Credit Card now.
    You can already get a Apple CC where points go toward Apple Store GCs and you get more points when you shop directly for Apple products and services. No annual fee.

    I'm in the UK and think thats only available in the US, not that I want one anyway.
Sign In or Register to comment.