MacBook Financing: How to Pay for a New Computer
Apple MacBooks are some of the most popular laptops on the market, but they can also be quite expensive. The starting price for a MacBook Air is $999, while a MacBook Pro can cost as much as $3,499 or more — so you may need more money than you currently have in your savings account.
We’ll break down your MacBook financing options, including offers from Apple as well as other credit products, like personal loans and credit cards.
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Apple financing options
Apple Credit Card
Getting an Apple-branded credit card may be one way to finance your MacBook Pro. It’s a no-fee Mastercard issued by Goldman Sachs that earns you 3% cash back on purchases from Apple, 2% on all Apple Pay purchases and 1% on all other purchases.
If you want to avoid paying interest on your MacBook, you might consider taking advantage of the Apple Card’s 12-month, 0% annual percentage rate (APR) financing. With this option, your purchase will be broken into 12 installments, due monthly.
While the Apple Credit Card might be a good choice for consumers who buy Apple products frequently, other cash-back credit cards may come with better rewards and even sign-up bonuses.
|APR||19.24% to 29.49% variable|
|Special financing||Interest-free if you choose to pay with monthly installments over 12 months for select Apple products|
|Other requirements||To use this card, you must have an iPhone or iPad that has the latest version of iOS or iPadOS (you can also request a physical Apple card, but must do so with an iPhone)|
Trading in the Apple products you already own may not cover the full cost of your new computer, but it can help reduce your out-of-pocket expenses. For instance, your old MacBook Pro could be worth up to $775 in credit, and you may receive up to $400 for an iPhone 13.
If you have iPads, iPhones, Mac computers or Apple Watches you don’t use anymore, bring them in for credit that will be applied toward your next purchase. Some Android devices may also be eligible for the trade-in offer. All items brought in will be recycled for free, regardless of eligibility.
Other ways to finance a MacBook
If Apple financing doesn’t fit your needs, you have other options. With any financial product, be sure to understand the terms and total cost of borrowing before signing on the dotted line.
Using a personal loan to pay for a new MacBook can be a viable option if you have good credit. With this form of financing, you’ll receive a lump sum upfront and pay it back over a fixed period of time.
Personal loans can be used to pay for almost anything and offer APRs that may be lower than those of a regular credit card, depending on your creditworthiness and the lender. To receive a lender’s best rates, you’ll need to have a high credit score, a solid history of on-time payments, a reliable source of income and a low debt-to-income ratio.
Many lenders have a minimum borrowing limit of $1,000 but can extend loans of up to $50,000 or higher. Applications are usually made online, and decisions can be made quite quickly. Depending on the lender, you could get personal loan funds as quickly as the same day your application is approved, deposited electronically into your bank account.
Buy now, pay later
Buy now, pay later (BNPL) financing allows shoppers to break their purchases into smaller, more affordable chunks. If you don’t have enough cash to pay for your new MacBook in full, a BNPL app like Affirm or Klarna may be a good fit.
Many BNPL platforms offer a Pay in 4 plan, where you split the cost of your purchase into four installments repaid over six weeks, with a payment due every two weeks. These plans are typically interest-free, and some BNPL apps don’t even require a credit check to qualify. However, make sure that the app you select has a purchase limit high enough to cover the cost of your MacBook — PayPal Pay in 4, for example, only finances up to $1,500, so that option wouldn’t work if you’re looking for MacBook Pro financing.
0% interest credit card
If you have good credit, consider an introductory 0% APR credit card. Credit card companies offer these to incentivize new customers.
To qualify, you should have a good to excellent credit score, demonstrate a solid source of income and be a new cardholder. If you can pay off your laptop within the introductory period, you won’t have to pay any interest on your financing. Many 0% APR credit cards have longer introductory periods than the Apple Credit Card offers, some as long as 21 months.
If you don’t pay off the balance in full within the introductory period, you’ll have to pay interest on that remaining balance. The regular APR will be determined by your overall credit score, but the average rate on new credit card offers in April 2023 was 23.84%.
Student loans can be used to pay for more than just schoolbooks and tuition; funds can also be applied toward supplies you’ll need for your studies, like a laptop. If you’re a college student, you can use student loan funds for a new MacBook, but keep in mind the overall cost of paying for an item using money that will accrue interest over time.
Depending on whether you’re an undergraduate, graduate or professional student, you could be paying interest rates between 4.99% and 7.54% on federal student loans (as of July 2022 to July 2023). You could also consider pros and cons of private student loans as an alternative —however, they won’t come with the robust borrower protections that federal student loans do, and their interest rates could be similar to those of personal loans.
The information related to the Apple Credit Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.