While it’s no secret that cutting-edge technology of the calibre Apple offers tends to be on the pricey side, it’s an investment that pays off as the lifetime cost of a Mac is significantly less than that of a Windows PC.
“However, sometimes the initial cash outlay is still more than one can afford in one go,” said Gaynor MacArthur, Sales Director at Apple Premium Reseller Digicape.
Financing is an affordable way of purchasing a device, as customers can pay it off over a predetermined period in smaller monthly instalments.
However, there are those who are nervous of financing, as they believe the process to be time-consuming and admin-heavy, or are simply nervous of the fine print.
“Fortunately, the National Credit Act has been designed to protect consumers from purchasing something they cannot afford, and demands that financial service providers offer product terms that are simple, transparent, and easy to understand,” says MacArthur.
Consumers looking to invest in a new iPhone, iPad, Mac, Apple Watch, accessories, and/or software can choose to either trade in their pre-loved devices against the purchase price of a new one, upgrade to a Vodacom contract, or finance the device over a fixed period by applying for an online credit facility through one of Digicape’s finance partners.
“These online credit facilities are expressly designed to be simple, low-on-admin, convenient, and affordable, taking the complexity and tediousness out of finance application,” said MacArthur.
Point of sale credit facility
Online credit providers, such as Mobicred and FinYou, offer an affordable, easy way to finance a new device.
These financing options are available exclusively for online purchases and can be used to purchase products from the Digicape online store.
This option is ideal for you if you are:
- Looking to purchase in a hurry: The process is relatively quick and painless, with vetting taking as little as 24 hours (depending on the provider).
- Not a fan of paperwork: All that is required is a copy of the applicant’s ID and proof of address, which is submitted online.
- Looking for an affordable, flexible financing option: Mobicred offers payment terms of 12 months, while FinYou’s payment plan options include 6, 12, 18, and 24 months, all the way up to five years. Interest rates are competitive and start at around 20%, depending on the user profile.
Mobicred offers a revolving “wallet”, meaning that once a certain amount of the total outstanding has been repaid, the credit once again becomes available.
The wallet can also be used across multiple online vendors.
The table below details several of the financing options currently available through Mobicred and Digicape.
|Device||Price||Cost per month x12|
|Apple TV 32Gb – 4th Generation||R2,499||R233|
|Apple iPhone 8 64Gb||R13,499||R1,256|
|Apple Watch Sport S1||R4,999||R465|
|Apple Bundle: Apple iPhone 8 64Gb & Apple Watch Sport S1||R17,899||R1,665|
The above is Mobicred indicative monthly pricing for 12 months at 20.75% pa, excluding the monthly fee and a once-off account initiation fee.
Once-off account initiation fee to be refunded. Offer ends on 31 December 2017.
Application via a service provider
It is also simple to apply for financing through an existing service provider, such as Vodacom, as they will already have a user profile loaded for customers.
This option is ideal for you if you:
- Are satisfied with your current service provider, and want to apply through them. As a profile for an existing customer will already exist, the vetting process is much quicker.
- Want the added benefits, such as data packages, etc. Most service providers offer these as part of their contracts.
- Are seeking an inexpensive and flexible financing option.
If a Digicape customer is not already an existing Vodacom customer, the vetting process is still relatively quick, taking only 24-72 hours on average.
Digicape also offers a trade-in option, where customers can trade in their old Apple device, and the value of the device is deducted from the cost of their new Apple purchase.
Digicape is also one of the few resellers that allow customers to trade in multiple Apple devices, with the accumulated value offset against the new purchase – making the latest upgrade far more affordable.
For more information on the financing options available, visit: https://www.digicape.co.za/finance
Terms & Conditions apply for trade-in options.
This article was published in partnership with Digicape.