Will I be accepted for Apple's Consumer Loan?

JuicyJesus

dex91 wrote: »

I appreciate the concern guys, but I think I have painted a worse picture of my financial situation. My management of money is probably bad practice but my overdraft debt could be paid off with my savings and I could buy a macbook after paying that off and still have a couple grand left over.

So do that. Overdraft debt is going to be costing you more than the savings are making you. Not doing so is idiotic unless the overdraft is interest free.

I just want to take advantage of the 0% monthly installments rather than a lump sum payment.

Why does it matter then? Apply, and if you're accepted you're accepted.

BonkersBonkers

OP why not use a large portion of your savings to pay, with the balance going on an existing credit card?

dex91

Thanks again for all the replies guys - I'm detecting some undertones in the thread here, I was just wanting to know whether you guys thought id be accepted for the consumer loan, the issue isn't whether I'm managing my money well (he says writing on an iPad ). I've been a student for 4.5 years and by my own standards I've done ok thus far. I'm going to go for it and if they turn me down savings will pay for it. Thanks again, Dex

mustang121

Whose ever heard of a student working from a Apple Mac? Except those who are living from Mummy and Daddy.


I advice you either buy the Apple mac outright or else buy a Windows based Laptop for less than half the price of Mac.

dex91

My parents haven't contributed a penny to my bills or rent throughout my time at uni - such is the life of a student from a low income family. From 5 summers working I've managed to save several grand. I didn't ask for advice on what I choose to spend my money on, I've gotten what I need from first two responders (thanks btw) so no need for any of these 'replies' anymore.

Carlos77

Just as a matter of interest why do you need a Macbook Pro for your studies? You can buy a laptop with much better performance, for half the money if you stick with windows machines. Personally id muddle through with one of those and have more beer money available to me! Mac's are really nice machines(Typing from my Macbook Pro), but id say there more of a luxury than a necessity as a student.

opinions4u

Will you be accepted? Don't know. Have you asked the lender?

Can you afford it? Don't know. The information you've provided seems contradictory.

Do you need it? Probably not. Most Apple gear is expensive toys. Cheaper stuff can often do more for you.

longtermplanner

dex91 wrote: »

I just want to take advantage of the 0% monthly installments rather than a lump sum payment.

That is because your savings are earning you loads of interest I presume - could you share where you are getting all this interest so we can all switch our money there?

No, seriously, what you are proposing will save you very very little money - £1250 at 0% interest over 12 months if your savings are at 2% will net you a whopping £12.50!

What you should do is

a) use your savings to clear your credit card and a chunk off your overdraft
b) buy a much cheaper laptop for cash (and don't forget to check quidco or topcashback to see if you could get any cashback on it)

Macbooks are cute. Cute is for when you are older and are earning a lot. Cute for students is folly.

dgtazzman

Mac is for pretty. You do know these days they use the same bog standard hardware inside as Windows/Linux and whatever else laptops are based on, only mostly older hardware than those Windows/Linux versions for double or triple the price? They stopped producing their own parts years ago. The only difference is a shiny outer shell with a trendy logo on it and their own OS.

Have a look at Dell, they tend to do a lot of offers this time of year and they usually have some very nice cash back offers running on Quidco too... You'll probably end up with a more powerful machine for £400-£500.

dex91

Dovah_diva wrote: »

This makes no sense and I suspect porkies are being told. There is absolutely no mention of savings until post 10. Prior to that, the OP has an overdraft of £1,000 every month and a CC debt of £340 that only get minimum payments. So why not use the savings to clear those debts? Either the OP is lying, because he doesn't want to hear that he can't afford the Macbook or he is financially inept. I suspect the former.

What possible reason would I have to lie... In a forum... really? How about answering the question before making 'accusations', for lack of a better word. This has gotten out of control, I just asked if based on my credit history if I'd be accepted for an apple loan and now my character comes into question? The only person I have to justify myself to is the man upstairs