Finance
Buying an iPhone from Apple in Canada gets more expensive with interest
Financing an iPhone in Canada costs more
Affirm has killed off Canada’s last option for interest-free financing through Apple programs.
According to an Apple webpage, Affirm has taken over as the finance provider and interest rates apply. When purchasing an iPhone, interest rates are set to 7.99% over 24 months, while iPad and Mac are set at 4.99% over 12 months.
Apple provided an example for how interest would affect the final price when buying an iPhone. If an iPhone costs $1,099, the customer would pay $93.79 over a 24-month period if minimum payments of $49.70 were made.