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It's called a loan. They take out a loan to buy an Apple phone.
by sorokod 8y ago
It's called a loan. They take out a loan to buy an Apple phone.
- BigChiefSmokem 8y agoIt's a loan with no interest (meaning you actually keep the interest). It's a better deal than buying one cash since you can invest the money you are not using.
- rootusrootus 8y agoAFAICT, the most common installment plan is carrier-based and usually not a loan, the payments total up to the same as buying it outright at the beginning.
- reaperducer 8y agoBut it's also the best loan ever. In the U.S., financing through Apple is 0% and gets you free AppleCare for the life of the loan. Put the cash you would have spent on AppleCare and the phone in the bank, and buying an iPhone actually makes you money.
- sorokod 8y ago"buying an iPhone actually makes you money" :-)
- teddyfrozevelt 8y agoWhat Apple program gives you free AppleCare+? I’m part of the iPhone Upgrade Program, and I have to pay for both the phone and AppleCare+.
- reaperducer 8y agoCheck your documents. Apple's iPhone Upgrade Program includes AppleCare+. - Get a new iPhone every year - AppleCare+ coverage included - Low payments from $37.41/month - Works with your carrier https://www.apple.com/shop/iphone/iphone-upgrade-program https://www.apple.com/shop/iphone/iphone-upgrade-program
- teddyfrozevelt 8y agoLook under "Low monthly payments." > The full cost of your iPhone and selected AppleCare+ coverage is spread out over 24 months with 0% interest.
- zwily 8y agoFree AppleCare would be awesome, but in the case of the iPhone Upgrade Program, it’s rolled into the monthly payments.