New iPhone 7 interest-free deal is far cheaper than mobile network contracts £599 @ apple
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New iPhone 7 interest-free deal is far cheaper than mobile network contracts £599 @ apple

56
Found 14th Sep 2016
Reservations will reopen at 06:00 on 17 September.

How iPhone Payments works

iPhone Payments is a financing scheme specifically for the iPhone 7 and 7 Plus. Unlike a traditional mobile contract it doesn't include a Sim or an allowance, so you'll just get the unlocked handset and then need to pair it with a separate Sim-only deal.

You'll be credit-checked and will need to be accepted for what's technically an interest-free loan though. Here's what it costs:

iPhone payment plans

Storage Upfront cost iPhone 7 iPhone 7 Plus

Monthly cost Total (over 20mths) Monthly cost Total (over 20mths)

32GB £49 £27.50/mth £599 £33.50/mth £719

128GB £49 £32.50/mth £699 £38.50/mth £819

256GB £49 £37.50/mth £799 £43.50/mth £919

To get iPhone Payments:

Reserve the model you want – you can ONLY get iPhone Payments in store. Although the iPhone 7 launches on Friday, for the time being you won't be able to pick one up at an Apple Store unless you've reserved it online. But currently Apple isn't accepting new reservations. It says it'll next be taking them from 6am on Saturday 17 Sep.

When you collect the phone, say you want to pay via iPhone Payments. You'll need to bring bank details, a valid photo ID and your current mobile plus other personal info – see Apple's website for a full list. You'll need to be a UK resident aged 18+, have a UK bank account and have lived in the UK for 3+ years.

If accepted (you should be told within five minutes), you'll pay £49 upfront and the rest in 20 monthly instalments. Your loan will be with Barclays, the finance provider behind the scheme, at 0% APR. Monthly repayments are made by direct debit. If you don't keep up with them, Barclays would take the same action as any other loan provider –

56 Comments

I though they were all 14.9%? Or have they introduced 0% again?

Ripped directly from moneysavingexpert site. It's good form to quote and thank your source

Original Poster

They offering 0 % interest over 20 months installments

Probably best not to buy one if you can't afford it, as opposed to taking out a loan (which this is effectively). Apple finding ways to remove any excuse for someone to buy one.

heat.

donslibi

Probably best not to buy one if you can't afford it, as opposed to taking … Probably best not to buy one if you can't afford it, as opposed to taking out a loan (which this is effectively). Apple finding ways to remove any excuse for someone to buy one.



Surely it actually makes more sense to leave the cash in you savings account accruing interest and take 0% finance as that way you will receive interest on the equivalent amount in your savings account effectively reducing the overall cost. Albeit rates are low so won't make a massive difference. Credit when used correctly can actually save you money.

donslibi

Probably best not to buy one if you can't afford it, as opposed to taking … Probably best not to buy one if you can't afford it, as opposed to taking out a loan (which this is effectively). Apple finding ways to remove any excuse for someone to buy one.



Surely it actually makes more sense to leave the cash in you savings account accruing interest and take 0% finance as that way you will receive interest on the equivalent amount in your savings account effectively reducing the overall cost. Albeit rates are low so won't make a massive difference. Credit when used correctly can actually save you money.

Hmm Apple prices are very competitive to Samsung nowadays.

The monthly cost for the 128gb regular 7 is actually cheaper than what i'm paying Virgin at the moment for my 128gb 6s.

allowed

Hmm Apple prices are very competitive to Samsung nowadays.



​i wouldn't really say that,its more like Samsung are seeing what apple are getting away with and cashing in on it

HankHandsome

The monthly cost for the 128gb regular 7 is actually cheaper than what … The monthly cost for the 128gb regular 7 is actually cheaper than what i'm paying Virgin at the moment for my 128gb 6s.



Presumably you have a call minutes, texts and data bundled into that VM cost though?

androoski

Presumably you have a call minutes, texts and data bundled into that VM … Presumably you have a call minutes, texts and data bundled into that VM cost though?



no, it's seperate. I pay £34 quid for the phone and, currently, £12 for the sim only deal.

Extra £129, or £6.45 p/m for AppleCare. Is it worth it??

donslibi

Probably best not to buy one if you can't afford it, as opposed to taking … Probably best not to buy one if you can't afford it, as opposed to taking out a loan (which this is effectively). Apple finding ways to remove any excuse for someone to buy one.



As someone who has never had a phone contract I understand where you are coming from. However the reality is that most phones are paid for on a contract which is in effect a loan for the phone plus a payment for the phone services. As the article on MSE mentions if you take out a contract this actual saves you money. Problem is today a phone isn't seen as a debt by most, people pay a small fortune for contracts not understanding it's still alone and if they had to pay the money out as a loan they wouldn't buy it.

HankHandsome

The monthly cost for the 128gb regular 7 is actually cheaper than what … The monthly cost for the 128gb regular 7 is actually cheaper than what i'm paying Virgin at the moment for my 128gb 6s.



​yes, which you presumably took out 12 months ago. that's how depreciation works.

adamspencer95

​yes, which you presumably took out 12 months ago. that's how d … ​yes, which you presumably took out 12 months ago. that's how depreciation works.



https://s-media-cache-ak0.pinimg.com/564x/f0/e6/9e/f0e69e802ec40bfe3b935249c63a55c6.jpg

Not sure why this is getting Cold.

If your going to buy an iPhone anyway, this is alot better than going for the huge monthly contracts over 2 years.
And i didnt even know Apple did this.

I bought my iPhone 6 outright, and then got a super great deal on a sim.
Saved me £200 over the two years, plus I got a bigger storage capacity iPhone.

32GB £49 £27.50/mth £599 £33.50/mth £719

Are u not paying over a £100 more for it?

How is it interest free

its over 20 months, not 24 i believe.

27.50 * 20 = 550
Plus 49 upfront fee = 599

sharaz90

32GB £49 £27.50/mth £599 £33.50/mth £719Are u not paying over a £100 more … 32GB £49 £27.50/mth £599 £33.50/mth £719Are u not paying over a £100 more for it?


Huh?
I understand education standards have slipped but surely.....

27.50 * 20 = £550 + £49 initial payment = £599 total.
Compared to £599 outright price = 0%

??

The plan also includes AppleCare+ as standard (an accidental damage insurance product) which I believe costs £119 hence why some of the prices you see online make it look as though the phone costs £100+ more expensive than RRP.

gixerman0_0

​i wouldn't really say that,its more like Samsung are seeing what apple a … ​i wouldn't really say that,its more like Samsung are seeing what apple are getting away with and cashing in on it



LOL, ok i did think that but wanted to give them the benefit of the doubt.

looking at current eBay prices, the iPhone 6s is selling for £375 and that's for the 16GB model.
Suppose you can get at least the same amount in 12 months time for the iPhone 7 with 32GB (given it's a step change model and more memory) then it could work something like this.
£49 deposit + 11 x £27.50 = £351.50 is what you have paid so far.
9 x £27.50 = £247.50 outstanding amount on loan.

Sell the iPhone and pay off the loan and you should have bout £100 left over towards the next model (if that's what you want). Obviously big assumption on the resale value there.

The new Apple scheme is perfect for people who don't want be tired into a 24 network contract!
I have a sim only 1 year contract and used to buy my iPhone outright.....which if you think about it a big chunk of money upfront. The apple scheme is interest free over 20 months.
If you calculate the total cost of a 24 month network contract, you'll find that you are paying a few 100 more than the true cost, not to mention being stuck on a phone contract that may not suffice what you actually need.

I'm paying £15 a month for 20gb unlimited calls/text.
Over 2 years that's £360.
iPhone 7 128gb is £700.
That's £1060 which works out to be £44 a month.
If anyone can find the same deal with a network, I'll be shocked.

The same deal through Carphone warehouse is
£60 a month for 2 years + £150 up front.
Totalling £1590! That's over £500 more!!!

Need I say more!

majeric

The new Apple scheme is perfect for people who don't want be tired into a … The new Apple scheme is perfect for people who don't want be tired into a 24 network contract! I have a sim only 1 year contract and used to buy my iPhone outright.....which if you think about it a big chunk of money upfront. The apple scheme is interest free over 20 months. If you calculate the total cost of a 24 month network contract, you'll find that you are paying a few 100 more than the true cost, not to mention being stuck on a phone contract that may not suffice what you actually need. I'm paying £15 a month for 20gb unlimited calls/text. Over 2 years that's £360. iPhone 7 128gb is £700. That's £1060 which works out to be £44 a month. If anyone can find the same deal with a network, I'll be shocked. The same deal through Carphone warehouse is £60 a month for 2 years + £150 up front. Totalling £1590! That's over £500 more!!! Need I say more!



Exactly. I did a very similar deal with my iPhone. I was sick of being stuck in contracts as well as being hundreds out of pocket at the end of the two years.

Bought my iPhone upfront, and then got a rolling monthly contract of £15 a month. Unlimited Data and around 200 calls and texts. Bargain in the long run.

To all the moaners and iPhone haters out there it takes courage to step forward and buy such a revolutionary phone, ahead of its time and unafraid to fleece you into buying overpriced headphones. You guys are a bunch of cowards.

Cameron92

To all the moaners and iPhone haters out there it takes courage to step … To all the moaners and iPhone haters out there it takes courage to step forward and buy such a revolutionary phone, ahead of its time and unafraid to fleece you into buying overpriced headphones. You guys are a bunch of cowards.


I agree, let's keep fleecing the feckless
Christ this country is screwed, I'm sure the buyers will enjoy em with their skinny overpriced lattes as they trot along to their place of debt slavery for the next 40+ years X)

I'm just like sooo switched on m'kay. I like totally got my android phone from a shop staffed by tibetean monks and it's made from 100% recycled yak's anus. m'kay.

let's bring down the corporations man.

justanotherpunter

I agree, let's keep fleecing the fecklessChrist this country is screwed, … I agree, let's keep fleecing the fecklessChrist this country is screwed, I'm sure the buyers will enjoy em with their skinny overpriced lattes as they trot along to their place of debt slavery for the next 40+ years X)



Skinny lattes? You're peddling a comically out-of-date stereotype.

As for the deal; If only the new IPhone will do, then it's probably the most cost effective way of paying for one, but my god, are those prices eye-watering.

HankHandsome

let's bring down the corporations man.


I see Bayer has just bought Monsanto, oof big deal that one
Would sir like any statins with his extra debt today? Sorry must be a slowww day X)

justanotherpunter

Sorry must be a slowww day X)



Indeed

I just can't stand smug, sanctimonious people who clearly think they're superior to everyone else based on nothing more than their choice of phone.

I can't find anywhere online that says this scheme exists? I can only see the 14.9% PayPal plan...

BadgerDNA

Not sure why this is getting Cold. If your going to buy an iPhone anyway, … Not sure why this is getting Cold. If your going to buy an iPhone anyway, this is alot better than going for the huge monthly contracts over 2 years. And i didnt even know Apple did this. I bought my iPhone 6 outright, and then got a super great deal on a sim. Saved me £200 over the two years, plus I got a bigger storage capacity iPhone.



It is cold because this site is a joke. Good deals go cold and everything that is posted by mods goes hot. World is full of idiots who will see this deal and go out and pay a ton for a contract instead of getting this and going pay as you go. Stupid people spend more money.

jwillis

I can't find anywhere online that says this scheme exists? I can only see … I can't find anywhere online that says this scheme exists? I can only see the 14.9% PayPal plan...



Scroll down to low monthly payments on the following link. Confusing as it is under the Upgrade program but isn't one.

apple.com/uk/…ram
Edited by: "Smelly_Pickle" 14th Sep 2016

tempted to go for this as it does genuinely seem the cheapest route to buying an iPhone 7

when they say reservations open from 6am Saturday will stock be available same day?

was looking at this also,
if you looking to get a iphone 7
its cheaper to get it this way and a sim only contract then a contract phone

and if I didn't read wrong, you also get AppleCare+ with it.
which seems quite good for damage protection

Shame iPhone 7 plus isn't available on interest free finance.

last time I asked for a ball point I was refused by Barclay's no chance they lend me 600. but taking loan for a phone sounds as silly as selling ur kidney for a holiday
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