Can I buy a Mac on a payment plan?

Yes, there are several options for buying a new Mac computer on a payment plan directly from Apple or from other retailers. Apple and select retailers offer financing plans that allow you to spread out the cost interest-free over several months. There are also credit card payment plans from major credit card companies that let you pay over time with interest.

Apple Payment Plan

One option for buying a Mac on payments is to use the Apple Payment Plan when purchasing from Apple. This plan allows you to split the cost of a new Mac into monthly payments over 6, 12, or 24 months with 0% interest. The payment plan is available for Mac purchases over $199 in the United States. Here are some key things to know about the Apple Payment Plan:

  • You can use the payment plan on Apple’s website, in Apple Stores, on the Apple Store app, or by calling Apple.
  • It’s available for all Mac laptop and desktop models including MacBook Air, MacBook Pro, iMac, iMac Pro, Mac Pro, and Mac mini.
  • The down payment amount depends on the total price of the Mac and ranges between $49-$9,899.
  • There are no application or late fees.
  • You can choose 6, 12, or 24 month terms with 0% APR.
  • Payments are made to Apple directly.
  • The plan can only be used on a single Mac per customer.

Overall, the Apple Payment Plan provides a simple and affordable way to buy a new Mac directly from Apple and spread out the cost over time. It’s easy to apply, there’s no credit check, and you get 0% financing making it very cost effective.

Retailer Financing Plans

In addition to Apple’s plan, some other retailers and carriers also offer financing plans for Mac purchases allowing you to pay in monthly installments. Here are some options:

Amazon

Amazon offers financing on new Macs purchased at amazon.com through their Amazon Store Card Credit Plan. You can get 5% back on the purchase and then pay it off over 6 to 24 months with equal monthly payments and 0% APR. Approval is based on creditworthiness.

Best Buy

Best Buy offers 6, 12, 18, or 24 month financing on Mac purchases over $199 through their My Best Buy Credit Card. There’s no money down, no interest, and no annual fee. You can apply easily online or in store.

Carriers

Major carriers like AT&T, Verizon, and T-Mobile also offer installment plans for new Macs paired with cellular service allowing you to add the cost of a new Mac to your monthly wireless bill and pay it off over time. Installment plan options can range from 24-36 months.

Credit Card Financing

Another way to buy a Mac on payments is to use a major credit card that offers special financing plans on large purchases. Many credit card providers like Citi, Chase, and Capital One allow you to finance big ticket items like a new computer. Here’s an overview of credit card financing options:

Promotional Financing Offers

Many credit card companies offer special promotional financing for a fixed period on purchases over a certain amount such as 12 months interest-free financing on purchases over $500. The specifics vary by provider.

Intro 0% APR

Another option is to open a new credit card that offers an introductory 0% APR period for 12-18 months on purchases and new balances. This allows you to finance the Mac and pay it off interest free within that promotional period.

Low APR Financing

Even without special promotions, some credit cards offer very low ongoing APRs that allow you to minimize interest charges if you need to carry a balance. This makes them a reasonable financing option for larger purchases like a new Mac.

Points and Rewards

Using a credit card also allows you to earn points, miles or cashback rewards that can help offset some of the cost of the Mac.

Pros and Cons of Different Financing Options

There are pros and cons to each type of financing plan that are worth considering when deciding the best payment option for purchasing your Mac.

Apple Payment Plan

Pros:

  • 0% APR and no interest
  • Easy online approval process
  • Payments go directly to Apple

Cons:

  • Can only be used at Apple
  • Limited to one Mac per customer

Retailer Financing

Pros:

  • 0% interest offers available
  • Many retailers supported
  • Can combine with other discounts and perks

Cons:

  • Credit approval required
  • Credit inquiries can temporarily lower your credit score
  • Late fees possible if payment is missed

Credit Card Financing

Pros:

  • Take advantage of 0% intro APR offers
  • Earn rewards points and cashback
  • Revolving credit provides flexibility

Cons:

  • Interest accrues at standard APR once intro period ends
  • Higher long term costs compared to other options
  • Credit approval required

Steps to Getting Approved

If you’ve decided to finance your Mac purchase, here is a general overview of steps to take for approval:

  1. Check eligibility requirements – Verify you meet any minimum purchase amounts, credit score requirements, or other criteria needed for approval based on the financing option.
  2. Have necessary documentation ready – This may include things like a valid photo ID, social security number, income documentation, etc. needed to submit an application.
  3. Submit financing application – Apply online, in store, or over the phone following the application instructions for the specific financing plan.
  4. Get approval – The lender will review your application and make an approval decision. This may be instant, within 24 hours, or take 1-2 billing cycles.
  5. Review terms & sign agreement – If approved, carefully review the financing terms and repayment schedule before signing your installment loan agreement.
  6. Make down payment if required – Some financing plans require an upfront down payment you will need to make to complete the purchase.
  7. Complete Mac purchase – With approved financing in place, you can now select your preferred Mac model and complete the buying process.
  8. Make monthly payments – Be sure to make your monthly installment payments on time to avoid late fees and interest charges.

Finding the Best Deal

Here are some tips to help you find the best deal on financing a new Mac:

  • Look for 0% interest financing offers – This avoids paying extra in interest.
  • Compare monthly payment amounts – Lower payments are easier to fit in your budget.
  • Watch for sales &bundles – Black Friday, student deals can lower the total price.
  • Ask about price matching – Retailers may match a lower price you find somewhere else.
  • Maximize rewards – Combine financing with credit card rewards programs or retailer perks.
  • Consider Mac trade-in value – Trading in an old Mac can offset the price and lower financing needed.

Finding discounts, bundles, price matches, and maximizing rewards opportunities can help reduce the amount you need to finance and make the monthly payments more affordable.

Alternatives to Financing

Although financing can help make buying a Mac more affordable, there are a few other options worth considering if you want to avoid financing:

  • Save up to pay in cash – Set aside a portion of your income each month and make the purchase only when you’ve saved enough to pay in full.
  • Buy refurbished – Consider purchasing a refurbished Mac model directly from Apple to save 15-25% off retail price.
  • Sell other tech gear – Use proceeds from selling used tablets, phones, etc. to help offset the Mac cost.
  • Wait for tax refund – Use your annual tax refund as a lump payment rather than financing over many months.

Depending on your financial situation, saving up to pay in cash, buying refurbished from Apple, or waiting for a tax refund can sometimes be viable alternatives to avoid taking on new consumer debt.

Conclusion

Financing can make purchasing a new Mac more affordable by spreading out the cost over 6 months or longer. Apple provides a 0% interest payment plan on their products. Major retailers like Amazon and Best Buy also offer special financing on Macs purchased through their own credit programs. Another option is using an existing credit card that offers introductory 0% APR periods or low ongoing interest rates. Comparing all the financing plans, looking for special deals and discounts, and maximizing rewards opportunities can help you get the lowest price. However, saving upfront, buying refurbished, or waiting for a tax refund are some alternatives to financing that may be worth considering as well.