iPhone 5 through financing (Barclays)

glasgowm148

Hi all,

I've just purchased the iPhone5 through financing. 24 monthly payments of £25.3.

I've just sold my 4S to a mate for £300 was just wondering if I could deposit that entire sum as an early payment and how it would affect my payments? (ie would I be able to turn it into 12 monthly payments of 25.3 if I gave them 50% of the full sum to be paid?)

Would I need to pay back less? (currently, I'm paying about £80 in interest)
How would this effect my credit rating?

Ta

Daedalus

glasgowm148 wrote: »

Hi all,

I've just purchased the iPhone5 through financing. 24 monthly payments of £25.3.

I've just sold my 4S to a mate for £300 was just wondering if I could deposit that entire sum as an early payment and how it would affect my payments? (ie would I be able to turn it into 12 monthly payments of 25.3 if I gave them 50% of the full sum to be paid?)

Would I need to pay back less? (currently, I'm paying about £80 in interest)
How would this effect my credit rating?

Ta

Check the contract and/or ask them.

I doubt it will allow you to save interest, the amount tends be fixed as loan+interest. Probably will just reduce how long you pay £25.3 a month.

BugsyBrowne

Should of waited for the iPhone 6 concept next year as at the moment they are telling 4s owners to wait and not to upgrade to the 5 as the difference is minimal and not worth the upgrade.

[Deleted User]

BugsyBrowne wrote: »

Should of waited for the iPhone 6 concept next year as at the moment they are telling 4s owners to wait and not to upgrade to the 5 as the difference is minimal and not worth the upgrade.

lol, same as every other one then huh.

Buzby

BugsyBrowne wrote: »

Should of waited for the iPhone 6 concept next year as at the moment they are telling 4s owners to wait and not to upgrade to the 5 as the difference is minimal and not worth the upgrade.

I'm not sure who is saying that, as the differences are considerable. I would have agreed with you between the 4 and the 4S, but the 5 resets the clock for screen size and speed, even new earbuds - so I dunno who made such a crackpot comparison. Samsung?

BristolBob

Buzby wrote: »

I'm not sure who is saying that, as the differences are considerable. I would have agreed with you between the 4 and the 4S, but the 5 resets the clock for screen size and speed, even new earbuds - so I dunno who made such a crackpot comparison. Samsung?

Wow, the OP paid £600 for a better clock and some new earbuds! Sounds like they had a bargain... :beer:

DCFC79

Why get the iphone on finance ?

Why not just get a cheaper phone ?

They did sell the older phone for £300 so does ind of take soem of the pain of paying so much for a phone.

StuC75

what about looking for a credit card with purchase \ balance transfer options.. that way could split the remaining balance over the interest free term..

glasgowm148

DCFC79 wrote: »

Why get the iphone on finance ?

Why not just get a cheaper phone ?

I only got it on finance because I've just saved £45/m by being frugal (downgrading my phone plan, cancelling my 'premium' bank account, etc). and there is no comparison to the iPhone (I'm a programmer for iOS and Android apps - not some fanboy). Android phones are pretty much all sluggish. Unless you buy a galaxy nexus or something google's made and replace the bloatware with stock ram (but even then that isnt much cheaper than the iPhone)

Anyway - why is this turning into a iPhone v Android thread? I could not care less. I bought an iPhone because I like iPhones, what's the issue? I'm just trying to figure out the best way to repay that loan and minimise the amount of interest I pay (if at all possible)

geoffky

I give up....

smileigh

BristolBob wrote: »

Wow, the OP paid £600 for a better clock and some new earbuds! Sounds like they had a bargain... :beer:

It's not a better clock... the post said that the new iPhone 'resets the clock' for screen size and speed, as in it beats any other phone hands down...