# Payment plans for Apple computers



## Zephyr88 (Jan 11, 2008)

My 2001 G4 still serves me well (er, well enough) but I want to move on. Unfortunately, the excitement of MacWorld 2008 and the new MacPro lineup coincides with the financial recovery that comes after the holidays. _Yeesh_.

I'm looking at buying a MacPro or an iMac. I'm not broke but my savings are too small (as of this month) to lay out thousands of dollars at once. I'd have no financial safety net left over. Not even Apple products are worth that.

Apple offers 90 days without interest on purchases with a credit card. I think Carbon does the same with their card. I'm not sure I could save enough over that period to make a 90-day plan viable. The interest that accrues later would be killer.

I remember seeing a Best Buy flyer sometime last year that offered a 24-month, zero-interest payment plan for the purchase of Apple systems. The payments worked out so you'd only pay a premium of about $100 after the 24 months was over. Not bad at all. Excellent, really. I think Future Shop did the same thing.

I'm *not* enthusiastic about buying a Mac at Best Buy or FutureShop, but that plan is the only feasible option I can see. Does anyone have experience with or recommendations about payment plans? Are there opther options for paying besides a lump purchase or racking up colossal interest on a credit card?


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## CanadaRAM (Jul 24, 2005)

Keep in mind that these cards will also slay you with retroactive interest if you are late by one day. Also, they commonly charge and up-front administrative fee, which can be anywhere from $20 to $100. This makes the real rate of interest much higher than 0%... I saw one deal where the fee was $29.95 for a 6 month interest free on a $300 purchase... thats over 20% interest on that 'no interest' plan. There ought to be a law against this.


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## Macified (Sep 18, 2003)

FS card gives you the choice of no interest, no payment for 90 days or $100 up front admin with no interest, equal payments for 24 months.

Take the price, add tax, add $100, divide by 24. At the end of the 24 months the product is yours. Don't ever miss a payment...


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## Eric0 (Nov 22, 2007)

CanadaRAM said:


> Keep in mind that these cards will also slay you with retroactive interest if you are late by one day. Also, they commonly charge and up-front administrative fee, which can be anywhere from $20 to $100. This makes the real rate of interest much higher than 0%... I saw one deal where the fee was $29.95 for a 6 month interest free on a $300 purchase... thats over 20% interest on that 'no interest' plan. There ought to be a law against this.


It will be a long time before there is a law. I know there were a few cases with payday loans, that operate on a similar basis but with >100% interest. Most of the m still haven't resulted in any significant change in that industry; so it will definitely take even more time for the retailing industry to catch up.


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## Sualocin (Nov 7, 2007)

I am basically in the exact same boat as you Zephyr88. I don't have a few thousand dollers put away and want a new Mac Pro.

A job and some collatoral will get you a personal loan at your bank, sometimes for up to half of credit card rates. Most exclusive Mac dealers will offer decent payment plans. Westworld has a 3 and 6 month intrest free plan and a 2 year 19% plan. Hopefully you can find something locally that won't charge you an arm and a leg. And if you're really desperate there's the bank of Mom. 

I'm getting to the point though, where a little intrest would be worth having a brand new MacPro, sigh, that's just how companys' want me to think.


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## johnnyspade (Aug 24, 2007)

Be wary of those "no interest for 6 months" deals and be sure to read the fine print. Sometimes they're not as nice as they would seem.

How is your credit? Is leasing an option for you? There are some tax benefits to leasing if your new machine is used for business.

Also, don't let Apple's marketing machine sway you into purchasing something you may not need and can't afford. They are very good at this.


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## tacsniper (Aug 27, 2007)

As much as you might not be too keen on purchasing from FS, but the $100 upfront for the 0% interest and 24 months equal payment I think is the most affordable option. However, after the 2 years you pay off your iMac, it will most likely be or start to become obsolete, so all your hard work in that 2 yrs used to pay off the machine is gone and may need to reinvest in a new machine in the near future.


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## titans88 (Oct 3, 2007)

I purchased my MacBook from FS on a no-interest, 24 month purchase plan. Fortunately, I didn't have to pay any administration fee at the time either. They have financing deal from time to time, so keep an eye out for that.


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## Zephyr88 (Jan 11, 2008)

_Thanks for these replies, folks._ Looking at the hard finances of it all, it's funny how there's so much easy discussion about Mac stuff online, you'd think we were discussing water, oxygen or something else we take for granted. Behind every Mac user is a hefty bill... some of which aren't paid in full! A Mac is a luxury, no matter how we justify the price or value. We pay a heavy tax for the quality of the software ecosystem and the hardware. Anyway, I'll move my toes from the soapbox...

The penalties for missing payments sound pretty serious. The low interest option still sounds tempting, but getting my knees (and credit rating) broken by collectors makes me wary. What level of back-interest would be charged?

Sualocin, your reply made me laugh. Sounds like you can sympathize! I think the small admin premium on the price would be worth it for the convenience of paying easy sums each month. But then there's the knees. I'd consider monthly payments a service bill, like cable or this internet connection. Would thinking of it like that sway you? Thanks for the tips and for the Bank of Mom comment. 

titans88, when did you begin your payment plan? I wonder if it's a yearly offer.


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## PosterBoy (Jan 22, 2002)

Where are you? London Drugs has a personal financing plan that has a 90 days nopayment no intrest option (and no retroactive interest or admin fees).

They are only in the west though.


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## teknikz (Nov 20, 2006)

I did the best buy no interest 36 month deal with them and I haven't had a problem. 

The way it works is that you pay a 99$ "admin fee" and you get the computer interest FREE for three years or whatever your term is. 

BUT if you don't pay it off after the three years the interest is charged retroactively. They don't demand payments monthly but it must be payed off by the end of your term. 

I would say go for it , unless your a student the only benefit of buying from an Apple store is indifferent service.


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## titans88 (Oct 3, 2007)

Zephyr88 said:


> _titans88, when did you begin your payment plan? I wonder if it's a yearly offer._


_

I got my first bill 1 month after purchasing the MacBook, which was last March._


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