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0 pointsfsh2y ago0 comments

I just don't get this obsession with taking on debt. "Financing" doesn't make a product any cheaper. If you can't pay $5000 now, you probably shouldn't buy the product.

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jherskovic2y ago

It's better-than-free money. The 0% interest rate means, accounting for inflation, you're getting paid to use Apple's money instead of your own.

I can afford the lump sum, but it's a lot nicer to smooth out the cash flow using Apple's money instead of mine. As long as you're responsible, what's the harm?

nozzlegear2y ago

This is America baby, I don’t have a debit card I have a credit card. Jokes aside, if I’m going to pay the $5000 anyway and they let me pay for it over 12 months with no interest, I might as well do that and get a little credit score bump as well. I can afford the product, I just decide to pay it in 12 small chunks instead of 1 big chunk.

archagon2y ago

You can invest the money in the meantime, leading to anywhere from guaranteed 5% to likely 10-30% returns.

fshOP2y ago

I still don't understand why an effective 5% "discount" (not counting the effort to actually invest the money) makes the $5000 pill any easier to swallow. The money is still gone.

nozzlegear2y ago

You're right about the pill thing, I considered that myself after I wrote my other comment. It's something psychological; I know I'm still paying $5000, but it's easier to do that when I'm only paying $400 per month over 12 months versus one big payment of $5000. Even though I can afford the $5000, it's much harder to convince myself to pull the trigger when I'm looking at that amount of money. I guess that's why it works and all of these big online retailers are doing financing.

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jherskovic2y ago

It's better-than-free money. The 0% interest rate means, accounting for inflation, you're getting paid to use Apple's money instead of your own.

I can afford the lump sum, but it's a lot nicer to smooth out the cash flow using Apple's money instead of mine. As long as you're responsible, what's the harm?

nozzlegear2y ago

archagon2y ago

You can invest the money in the meantime, leading to anywhere from guaranteed 5% to likely 10-30% returns.

fshOP2y ago

I still don't understand why an effective 5% "discount" (not counting the effort to actually invest the money) makes the $5000 pill any easier to swallow. The money is still gone.

nozzlegear2y ago

j / k navigate · click thread line to collapse