I'm looking to finance a new iPhone through apples iPhone Payment Programme (not the iPhone upgrade programme). I'm interested in financing the phone through apple directly this time rather than through a carrier as it's cheaper long term, finance term is shorter and it cuts out the middle man. My question is, can I pay more upfront to lower the monthly cost or is there only a fixed amount you can put down?
Other than taxes, I don’t believe you pay anything to Apple at the time of purchase. Barclays pays Apple in full for you. You then assume the loan with Barclays. And unless it’s a very odd zero percent consumer credit loan, you could pay Barclays as much as you want, whenever you want.
The payment schedule with Barclays seems pretty open, pay minimum (based on paying off within interest free period), pay more than minimum, or pay in full. Once you walk out of the Apple Store, you’re dealing exclusively with Barclays, since Apple got their full amount at checkout. You will get a Barclays VISA card with a preloaded debit on it, that you can pay off as you wish just like any other credit card debit.
Other than taxes, I don’t believe you pay anything to Apple at the time of purchase. Barclays pays Apple in full for you. You then assume the loan with Barclays. And unless it’s a very odd zero percent consumer credit loan, you could pay Barclays as much as you want, whenever you want.
The payment schedule with Barclays seems pretty open, pay minimum (based on paying off within interest free period), pay more than minimum, or pay in full. Once you walk out of the Apple Store, you’re dealing exclusively with Barclays, since Apple got their full amount at checkout. You will get a Barclays VISA card with a preloaded debit on it, that you can pay off as you wish just like any other credit card debit.
Call Apple and ask them specifically. Note the finance is not with Apple, but with the bank they partner with. Apple is not a finance company, but they partner with Barclays Bank. The non-iPhone upgrade program is nothing more than an internet free loan. As long as it’s paid back before the term date, there is no interest. Payment options will be with Barclays. Apple itself gets paid in full at the time of purchase.
Hi, thanks for the reply. Oh yeah I read that it's through Barclays at 0%, I just couldn't find any information online to whether you can pay more upfront. But yes, maybe I should give an apple store a call and see what they say.
Why not? If you had a device to sell back to Apple, you could apply that credit to your balance and reduce your overall balance.
iPhone Payments Programme - Pay larger upfront payment?
