Couple feels they are entitled to a certain lifestyle

[ncbill]

I’ve never financed my IPhone, but I do take advantage of the monthly payments for it. I’ve done the math. It’s the same price via pay now or divvy it up into 24 payments.

Probably somewhere finances phones, but I’ve never seen it.

I did the 24 months at 0% interest on my current not-an-iPhone.

~$20/month...less than a year left.

Bought it new because I wanted a 5G phone since my current MVNO (US Mobile) offers prioritized data on Verizon when connected via 5G.

 

[Time2]

I did the 24 months at 0% interest on my current not-an-iPhone.

I wonder how the can charge zero interest?

 

[JLoft]

I paid in full for my last one but it was "only" $700 or so. When I have to bite the bullet and upgrade I'll do the same. I don't believe in tying myself into contracts in return for a "free" phone. An unlocked iPhone with Ting works just fine for me.

Referencing the earlier post I also have always received the three-headed look when paying cash for an iPhone.

However last year we upgraded and T-Mobile had a buy one, get one free deal. No trade-in needed. Terms were pay for the phone over 24 months. Instead I paid it off the second month and T-Mobile unlocked the phones. I sold the two old phones on eBay and that almost covered the new first phone price. Net was two new phones for just s few bucks.

 

[jazz4cash]

Speaking of $1500 iPhones, do most people finance those? I pay cash and the sales clerks (Apple Store and Verizon Wireless) look at me like I'm a triple-headed zombie with five legs. They look panicked and ask a couple times, are you sure... is that your final answer. At first I thought it was some kinda sales technique, but after a few years of this, I'm thinking, no, its just genuine shock. And they look even more troubled when I decline the device insurance.

I thought 24 months @0% was pretty standard for iphones. I shopped them at Verizon and Apple with these terms. Nothing against folks that hate making payments but I’ll be paying for service monthly anyway. I’ll take 0% all day long. I won’t be spending $1500, though!

 

[ychuck46]

I did the 24 months at 0% interest on my current not-an-iPhone.

I wonder how the can charge zero interest?

It is a combination of some subsidy from Apple as well as locking you in for a 24 month contract. They figure most people are too lazy at the end of the 24 month period so you'll just default and stay with them, or even rinse and repeat on a new phone.

 

[Music Lover]

I've taken advantage of 0% interest when getting a new phone if it's both the phone and plan that I want at the same price than if I didn't get the phone.

 

[Time2]

It is a combination of some subsidy from Apple as well as locking you in for a 24 month contract. They figure most people are too lazy at the end of the 24 month period so you'll just default and stay with them, or even rinse and repeat on a new phone.

My thought, it is already included in the price, you just don't get it discounted for cash.

 

[tulak]

My thought, it is already included in the price, you just don't get it discounted for cash.

Which is pretty much true for everything we buy.

I’m more than happy to get 0% financing on anything that I would buy regardless. And if I’m lucky, I can use a credit card that gives me 2-3% cash back.

 

[Jenna]

Best podcast ever!!! Even if you don't like this episode, the others are so good. He interviews so many different people who actually find answers to their money issues by finding out how they were raised and how they think about money. Kind of a psycology of money. I also love how he shows them why they are behind all the time based on their fixed costs. He usually is able to get a couple to see wha they are doing wrong. Very unique take on money

 

[jazz4cash]

My thought, it is already included in the price, you just don't get it discounted for cash.

This.

 

[davidfin]

Speaking of $1500 iPhones, do most people finance those? I pay cash and the sales clerks (Apple Store and Verizon Wireless) look at me like I'm a triple-headed zombie with five legs. They look panicked and ask a couple times, are you sure... is that your final answer. At first I thought it was some kinda sales technique, but after a few years of this, I'm thinking, no, its just genuine shock. And they look even more troubled when I decline the device insurance.

I use my Apple Card account and get 24 equal payments at 0% interest. I like free money and so does my cash flow.