Apple says trade-in, financing options makes iPhone 'super affordable'

AppleInsiderAppleInsider
Posted:
in General Discussion edited September 2020
Apple CEO Tim Cook said the company is "very happy" with the progress made in both its hardware financing and trade-in options.

Credit: Andrew O'Hara, AppleInsider
Credit: Andrew O'Hara, AppleInsider


The chief executive made the comments during the company's third quarter earnings call with investors, first responding to a question from analyst Katy Huberty.

Cook referenced the company's June rollout of interest-free financing offers, and added that the payment option complements the company's existing trade-in programs.

On trade-ins, Cook said the option is becoming a more common "trend," and added that it's terrific because it's great for the environment and acts as a subsidy.

Taken together, Cook said that trade-in and interest-free financing both make its devices "super affordable," and that Apple is "happy with what [they're] seeing in that regard."

Cook added that both programs are doing well "in a number of geographies," including China -- whether a large portion of the installed user base still uses pre-iPhone X devices. The Apple executive positioned those options as a way to get users in the region, and elsewhere, to upgrade to newer devices.

Comments

  • Reply 1 of 7
    MplsPMplsP Posts: 4,063member
    “ interest-free financing both make its devices ‘super affordable,‘“

    sorry - 0% interest doesn’t make it affordable. It just makes financing less expensive. 
    dewmeavon b7
  • Reply 2 of 7
    ElectricWatusiElectricWatusi Posts: 12member
    Their trade in offer is awful.  They say “you may receive part of your refund in Apple store credit”.

    That is a lie.  I received ALL my refund in Apple store credit...all $360 worth of it.  So many gift cards that I can’t use them all at once for an online purchase, 

    Been an Apple customer going back to 2003-ish and my first Macbook.  First time Apple has made the purchase of one of their products feel slimy.

    Not so affordable when you get store credit.


  • Reply 3 of 7
    Rayz2016Rayz2016 Posts: 6,957member
    Their trade in offer is awful.  They say “you may receive part of your refund in Apple store credit”.

    That is a lie.  I received ALL my refund in Apple store credit...all $360 worth of it.  So many gift cards that I can’t use them all at once for an online purchase, 

    Been an Apple customer going back to 2003-ish and my first Macbook.  First time Apple has made the purchase of one of their products feel slimy.

    Not so affordable when you get store credit.



    What it actually says is this:


    Trade in when you buy a new product and we’ll apply the value toward your purchase or recycle your device for free.


    Where did you read that they were going to give you cash for your trade-in?

  • Reply 4 of 7
    dewmedewme Posts: 5,803member
    This is a true statement for those folks who've bought into the notion that your entire life is one big subscription. It's no different than auto dealers who always lead with "how much do you want to pay per month?" before you've even said how much you are willing to spend. As long as you don't have any interruptions to your revenue stream, no problem, but if you do, your entire life (of consumer product) can quickly evaporate. 

    Not a big deal for those who have reliable cash flow. In fact, Apple's production of the latest iPhone SE selling at $399 truly provides a perfect alternative for those who want to avoid a long payment tail post-acquisition. 
    edited July 2020
  • Reply 5 of 7
    darkvaderdarkvader Posts: 1,146member
    DO NOT TRADE IN YOUR IPHONE!

    Seriously, don’t do it. 
    It’s not only a bad deal for you, it’s a bad deal for everyone else. Apple doesn’t resell the used phone, they destroy it. 
    Sell it locally, sell it on eBay, but NEVER trade it in to Apple. 

  • Reply 6 of 7
    ElectricWatusiElectricWatusi Posts: 12member
    Rayz2016 said:
    Their trade in offer is awful.  They say “you may receive part of your refund in Apple store credit”.

    That is a lie.  I received ALL my refund in Apple store credit...all $360 worth of it.  So many gift cards that I can’t use them all at once for an online purchase, 

    Been an Apple customer going back to 2003-ish and my first Macbook.  First time Apple has made the purchase of one of their products feel slimy.

    Not so affordable when you get store credit.



    What it actually says is this:


    Trade in when you buy a new product and we’ll apply the value toward your purchase or recycle your device for free.


    Where did you read that they were going to give you cash for your trade-in?


    I didn't expect it as cash (see above).  The terms of the trade-in offer, as read and printed by me prior to clicking the buy button as well as the three email status messages during the trade-in process clearly state "Please allow up to 5 days for this to show up as a credit to your payment method."   No, they're not cutting me a check, Apple stated that they would be issuing a credit/refund/rebate of the trade-in value to my method of payment once the trade-in process is completed.  Are we clear on that part?  Because, I'm quoting words right out of the purchase agreement forged out of the trade-in offer.

    Apple goes on to also state, in the aforementioned terms and status messages, that "Part of your refund may also be issued on Apple Store Gift Card".  Not true.  My trade-in value was not issued as a credit/refund/rebate to my AMEX, nor was a portion of it on "an Apple Store Gift Card", but ALL of my refund was distributed via multiple gift cards.  Emailed to me.

    In reference to the article, that isn't making my Apple device "super affordable".  It might be making my next one more affordable, but that is a supercilious assumption by Apple that there will be a next one.




     




  • Reply 7 of 7
    tgolden82tgolden82 Posts: 3member
    This headline is what is wrong with America.  Americans need to practice some delayed gratification and get their finances in order.
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