What credit for your smartphone?

Needless to say, smartphones are expensive and increasingly expensive. To name only the famous Iphones, their prices can reach up to $ 1,329 for the 256GB Iphone X. These products are certainly an increasingly developed technology and their use more and more frequent, the fact remains that it is not always obvious to offer them when one is short of money.

So if Santa Claus did not bring it this year, and if the need to renew it is perfectly essential, there is still recourse to credit. And there are many forms.


Financing through consumer credit

Financing through consumer credit

This solution is easy and quick to implement. Since the loan amount rarely exceeds the threshold of $ 1,500, you will generally not be asked to provide many documents. ID and one to three salary sheets should suffice. Before choosing your funding organization, we recommend that you consult the bestfinancer.com comparator, which is very simple to use and will not ask you for any information. Select the category “personal loan”, the duration and the amount requested, and you will have an immediate comparison.

Once you have selected the funding organization and signed a contract, you will receive the amount and can directly buy your new smartphone.

The only additional advice that we could give you at this stage, is not to choose a duration greater than 3 years. We know indeed that the average lifespan of a smartphone is of this order, and it would be a shame to reimburse a product that you have to change (unable to load new applications or update the operating system).


Vendor financing

Vendor financing

This solution is not new and even simpler than the previous one. You just need to inquire on the internet to quite easily find physical stores or online stores that offer it. In addition, 0% credits are sometimes offered.

The Finelenders Finance offers for example the financing of smartphones on 3, 5, 10 or 20 monthly payments. On the other hand, we advise you to carefully study the APR proposed according to the chosen monthly payments. This can range from 0% to rates above 10%. It is therefore sometimes much more interesting to make a consumer credit with a specialized organization rather than to subscribe with the seller. This is all the more true as the sellers generally rely on financial organizations, and the procedures for obtaining and underwriting will be more or less the same.

In addition, sellers will often ask you to subscribe to a store loyalty card which you may not always have the use of or control over.


Manufacturer funding

credit loans

This funding is fairly new, and one of the first to offer it is Apple. The firm became aware of the effort required from its customers to acquire its products, and the short duration of use of each model. This is why it offers monthly payments that allow both to acquire and retain customers. The minimum order amount is $ 500. As in the case of financing by the seller, a specialized credit organization makes the financing transaction.

So you can for example order your iPhone or book it now on the Apple website. Apple will offer you a “financing available” line during the purchase process. By clicking on it, Apple will tell you in a completely transparent way the monthly payments that the brand offers and the associated credit rate.

Credit seems easy and simple to obtain, but it will be necessary to carry out the same steps as for a traditional consumer credit.


Proposed rate

Proposed rate

Compare the proposed rate at this stage before subscribing directly to the loan presented. It is not necessarily more expensive or less expensive, but you would be well advised to use our comparator at this stage to check that there is not a large variation.

For businesses, Apple offers rental with purchase option (LOA). Entrepreneurs and freelancers can thus choose equipment that they will rent for a certain number of months, and can become owners of the equipment for 15% of the initial amount, or return the equipment and renew it.

You will understand, our advice is always to compare, because the credits, even if they can seem more and more easy and simple to access, always have a cost which can sometimes reach more than a hundred dollars for smartphones.