Any experience of unshackled.com

IndieSinger

Does anyone have any experience of using unshackled.com?

I've got my heart set on a newer iPhone, and no-one can come close to what unshackled can offer me.

It's a way of paying on credit (but it's a lot cheaper than PayPal Credit that Apple suggest on their website.

Does anyone have any positive or negative experience of them before I take the plunge?

mobilejunkie

No, but it'c clear that credit is either 9.7% or 24.7% APR - variable AND dependent on individual assessments (so may be much higher). It can't be cheaper than buying on a normal loan or low-rate credit card. If you can't buy it outright you're very unwise to buy a product that 1) will be outdated in months 2) may not last as long as the loan and 3) could end up costing you an arm and a leg - when cheaper alternatives will be suitable for most people and within your means.

IndieSinger

Thank you. I've never had a problem with credit, and I reckon it would be the lower 9.7%. I'm not familiar with what the "variable" bit refers to?

Will have a think about buying on a credit card - good point, thank you.

I've got an iPhone 5c at the moment, and that has certainly lasted longer than two years with no trouble. And even if you buy through regular stores (e.g. EE, Vodafone etc.), you'd still have to keep paying off the contract if the phone was lost/stolen..?

The stores can only offer me deals around £40 per month (I need a lot of data). Doing it through unshackled would be about £28 per month.

mobilejunkie

Is losing the phone no loss with them? Variable means two things:- a) it depends on the individual (hence "representative") and b) it can go up and down afterwards (more likely up with inflation taking off for the next year). In addition to the phone and bundle you are paying for the interest charges too.

I'm very confident you'd get a much better deal from internet dealers such as mobiles.co (CPW) or mobile phones direct - especially using a cashback contract (but you have to know what you're doing with those). All my contracts make a profit and I run several simultaneously - though I'm not bothered about the phone.

IndieSinger

Interesting, thank you for replying.

I've tried the sites you mention and neither can come close.

When I times the amount per month by the contract, I end up only paying £30 more for the phone than Apple's RRP. This seems very reasonable to me. But it has also made me think about just getting a 0% credit card and doing it that way. Especially given what you say about the percentage being variable.

Food for thought. Thanks!

20aday

If you feel your credit history and circumstances will mean you'll get a 0% credit card then I'd do that over Unshackled myself.

Means the monthly interest you'd pay using one of their lenders will be 'saved' and help clear your credit card quicker.

forgotmyname

Your happy paying more than the RRP? Does anyone pay the RRP never mind more?

IndieSinger

I see your point, but I think with Apple, you generally pay either the RRP or more (through a contract or via credit).

20aday

Apple, rarely, if ever discount brand new handsets although they sometimes have finance offers on (usually around Christmas/New Year).

GiffGaff currently have iPhone 7 32GB which retails at £599 from Apple but they are selling it for £579.

Some retailers i.e. CPW will automatically lock iPhone to the first Network SIM inserted but with GG they remain unlocked regardless of carrier.