Apple's iphone interest fee payments plan - can it be paid off early?

PAUL7331

Hi guys,

I quite like the idea of the new iphone XR on the iphone payments plan that you have to do in-store -

iPhone XR – £69 upfront, then £34/mth for 20 months for the 64GB model (£36.50/mth for 128GB or £41.50/mth for 256GB)

Now I have a couple of questions...

Can you increase the upfront cost? For example could I put £300 down instead of £69?

And can you pay the balance off early should you wish to do so?

Kingsd316

Not sure you can put more down at the beginning but you can overpay monthly or clear when you like

[Deleted User]

It's a 0% deal so I don't know why you would, you're not going to get a discount on it.

System

PAUL7331 wrote: »

Hi guys,

I quite like the idea of the new iphone XR on the iphone payments plan that you have to do in-store -

iPhone XR – £69 upfront, then £34/mth for 20 months for the 64GB model (£36.50/mth for 128GB or £41.50/mth for 256GB)

Now I have a couple of questions...

Can you increase the upfront cost? For example could I put £300 down instead of £69?

And can you pay the balance off early should you wish to do so?

You can pay off the loan at anytime.

Putting down a bigger chunk of money as a deposit is an unknown. Apple don't mention this in the terms and conditions so you will have to ask them directly.

PAUL7331

Thanks guys,
I prefer to pay it off quicker than two years - dont like it hanging over my head!

I wonder if you can pay it off via credit card too?

System

PAUL7331 wrote: »

Thanks guys,
I prefer to pay it off quicker than two years - dont like it hanging over my head!

I wonder if you can pay it off via credit card too?

You have lost me why on one hand say you don’t want it hanging over your head and then on the other hand want to pay it off with a credit card which just shifts the debt.

As Colin_maybe says it’s 0% finance so why you making something so complicated lol

20aday

If I remember rightly it's underwritten by Barclays Partner Finance so in terms of early repayments there'll be a charge to using credit to pay off credit.

There's nothing to stop you overpaying each month in addition to your Direct Debit; it might've changed in more recent years but in the past you had to call Barclays to make any additional repayments, they didn't have an account portal online (at the time).

mobilejunkie

20aday wrote: »

If I remember rightly it's underwritten by Barclays Partner Finance so in terms of early repayments there'll be a charge to using credit to pay off credit.

There won't be. The maximum charge would be one month's interest at 0%.

PAUL7331

john22 wrote: »

You have lost me why on one hand say you don’t want it hanging over your head and then on the other hand want to pay it off with a credit card which just shifts the debt.

As Colin_maybe says it’s 0% finance so why you making something so complicated lol

I'll tell you why....

I want to purchase it out right but not the full cost as im selling my iphone 7 for £300 so only want to put down £300 upfront and when I do decide to buy it outright I want to do it via AMEX to accumulate american express award points - I'll then pay off the card right away to avoid interest.

Clear?

PAUL7331

20aday wrote: »

If I remember rightly it's underwritten by Barclays Partner Finance so in terms of early repayments there'll be a charge to using credit to pay off credit.

There's nothing to stop you overpaying each month in addition to your Direct Debit; it might've changed in more recent years but in the past you had to call Barclays to make any additional repayments, they didn't have an account portal online (at the time).

Ahh ok thanks mate so on this occasion using AMEX (just to get the points) and then paying off immediately wont work as Barclays will charge me a fee.

PAUL7331

mobilejunkie wrote: »

There won't be. The maximum charge would be one month's interest at 0%.

Oh ok then so I CAN use AMEX to pay off the balance without charge?