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To finance or not to finance... (Apple Financing)

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Jun 27, 2015
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Gloucester, ON

To finance or not to finance... (Apple Financing)

Hi!

I have been without a proper laptop for about a year now, and have been making do on my Chromebook. It's alright, but is pretty limited in terms of what it can do. I'm entering into my third year of University in September, and I think it's definitely time to get a pimped out laptop.

I've been looking at the Macbook Pro, and have found one refurbished from Apple that's about 1100$, so with taxes and everything about 1300$. I have recently started a pretty good paying job, and I'll be making about 3500$-4000$ a month for the rest of the summer. I was wondering if anyone has had experience financing a MacBook or any Apple product from them? I already have a TD account so they told me that it would simply be added to my credit card balance, but would not accrue interest for 90 days... seems pretty solid to me. Is this a viable option to start building my credit? Is financing through Apple a good idea? I've read some pretty mixed reviews... Thanks!

Background info: 20 years old, living at home, no expenses.
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Either option is fine as long as you make regular payments and pay it off in the allotted time ( no interest charges ). I always take the no interest financing terms ( that have no admin or plan fees ). That way I don't have to drop all the cash at once.
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Dec 15, 2013
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julianmeneilley wrote:
Jun 28th, 2015 5:05 pm
Background info: 20 years old, living at home, no expenses.
So wait for a paycheck and buy it? Why bother with financing or even having a credit card balance when you live at home with no expenses? You should aim for zero debt and pay off any loans you have (creditcard/school debt)
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just an aside: macbook pros at that price range (low 1000s) are pretty limited. you cant upgrade RAM, and so you'd want to look for minimum 8gb, plus ssd of at least ~250gb + (can people live with 128gb anymore? in near future, 250gb won't be enough either), which means it'll be about 1300 + taxes.

I suppose it's not a bad idea if you can pay everything off within the 90 days.
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julianmeneilley wrote:
Jun 28th, 2015 5:05 pm
I've been looking at the Macbook Pro, and have found one refurbished from Apple that's about 1100$, so with taxes and everything about 1300$. I have recently started a pretty good paying job, and I'll be making about 3500$-4000$ a month for the rest of the summer. I was wondering if anyone has had experience financing a MacBook or any Apple product from them? I already have a TD account so they told me that it would simply be added to my credit card balance, but would not accrue interest for 90 days... seems pretty solid to me. Is this a viable option to start building my credit? Is financing through Apple a good idea? I've read some pretty mixed reviews... Thanks!
If you have a credit card already, and taking into consideration that you're living with your mumsy and aren't contributing to household operating expenses (assumed by the "no expenses" backgrounder), put it on your credit card and pay it off with your first paycheque.

You do not want to have the money owing on your credit card when you go back to school, and should definitely use your summer job to pay off the credit card debt completely. At about 20% interest, credit card debt is a killer, and you may be able to get a small line of credit for those emergency expenses.

While living debt-free and paying cash for everything is a great goal, it's not a bad thing to have a small amount of credit available (and paid off, if possible) because it contributes to a good credit score for when you need it, such as for a mortgage.
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mathiewannabe wrote:
Jun 29th, 2015 12:00 am
just an aside: macbook pros at that price range (low 1000s) are pretty limited. you cant upgrade RAM, and so you'd want to look for minimum 8gb, plus ssd of at least ~250gb + (can people live with 128gb anymore? in near future, 250gb won't be enough either), which means it'll be about 1300 + taxes.

I suppose it's not a bad idea if you can pay everything off within the 90 days.
I think that is a stretch. I run my online business in the photography industry predominantly on a 13" Macbook Air - photoshop and lightroom all day long, 4GB 1.4 i5, and it was about $1000. I have a $3000 MBP that collects dusts and like 5 desktops, still can do 99.9% of stuff on the air. People really over estimate what they need even for very processor heavy stuff (especially if he's upgrading from a chromebook and just doing normal computing)
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julianmeneilley wrote:
Jun 28th, 2015 5:05 pm
Hi!

I have been without a proper laptop for about a year now, and have been making do on my Chromebook. It's alright, but is pretty limited in terms of what it can do. I'm entering into my third year of University in September, and I think it's definitely time to get a pimped out laptop.

I've been looking at the Macbook Pro, and have found one refurbished from Apple that's about 1100$, so with taxes and everything about 1300$. I have recently started a pretty good paying job, and I'll be making about 3500$-4000$ a month for the rest of the summer. I was wondering if anyone has had experience financing a MacBook or any Apple product from them? I already have a TD account so they told me that it would simply be added to my credit card balance, but would not accrue interest for 90 days... seems pretty solid to me. Is this a viable option to start building my credit? Is financing through Apple a good idea? I've read some pretty mixed reviews... Thanks!

Background info: 20 years old, living at home, no expenses.
If you can't afford a consumer item, don't but it. It's a slippery slope.
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Dec 4, 2010
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3 Months without paying any interest. Why not? Just make sure like the other guy said to have it paid off in full in 90 days.
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Why would you finance a laptop?
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Dec 9, 2005
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Why a Macbook?

Why not a decent Windows based laptop for less?

I realize all the cool kids are doing Macbooks, but unless there is a requirement you can get all your work done with a Windows system.

Find an off-lease for a good price.
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Jan 26, 2014
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Don't listen to these billionaire rfd kids. If you can afford it which I assume you can because you are asking whether or not if you should finance it. I'd say if you are going to be reponsible and make the payments every month, have a good portion of the purchase set aside for emergency and there aren't any financing fees or interest or very little interest. id say finance it at 20 years old your credit is probably non exist and to little, it will help build that.
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omegadivide wrote:
Jun 29th, 2015 2:24 pm
Don't listen to these billionaire rfd kids. If you can afford it which I assume you can because you are asking whether or not if you should finance it. I'd say if you are going to be reponsible and make the payments every month, have a good portion of the purchase set aside for emergency and there aren't any financing fees or interest or very little interest. id say finance it at 20 years old your credit is probably non exist and to little, it will help build that.
LOL, don't need to be a billionaire to afford a $1300 laptop, especially one who is living at home with no expenses.

The question is, why take on any kind of debt at all when there's absolutely no need or justification to do so?
"God's in His heaven. All's right with the world." - Robert Browning (1812-1889)
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omegadivide wrote:
Jun 29th, 2015 2:24 pm
Don't listen to these billionaire rfd kids. If you can afford it which I assume you can because you are asking whether or not if you should finance it. I'd say if you are going to be reponsible and make the payments every month, have a good portion of the purchase set aside for emergency and there aren't any financing fees or interest or very little interest. id say finance it at 20 years old your credit is probably non exist and to little, it will help build that.
It takes a billionaire to pay for consumables these days? Regardless I doubt many billionaires got where they are today by financing the fastest depreciating asset available (consumer electronics).

I am so glad I'm not from the self-entitlement now-now-now generation like you if you think it takes a billionaire to not finance a $1000 consumable
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Jan 2, 2015
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I vaguely recall reading that this sort of loan is bad for your credit (because the entire unpaid loan could sit on your account for three months, raising your credit utilization). I wouldn't worry too much about that though. It's only three months, and you probably don't need a lot of credit soon. Also, it'll look good once paid off.

Having said that, do you really need such an expensive laptop? I'm typing this on a really expensive gaming PC ($800 tax included), but that's for games.
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FoFai2015 wrote:
Jun 29th, 2015 10:33 pm
I'm typing this on a really expensive gaming PC ($800 tax included), but that's for games.
:lol:

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