Apple products have always been a popular choice, but they don’t come cheap.
Whether it’s the latest iPhone, a MacBook Pro for school, or an iPad for work, the upfront cost can easily run into the hundreds or thousands of dollars. For example, the newest iPhone can cost more than $1,500 outright, while a high-performance MacBook Pro can easily hit $3,000. For most people, that’s not an expense can want to pay in one shot, even if your budget allows.
That’s where Apple financing comes in. Apple offers its own financing plans directly from their website and at your local Apple Store. We’ll break down exactly how Apple financing works in Canada, as well as explore other ways to spread out the cost, including credit cards, retailer programs, and more.
Key Takeaways:
- Apple Financing allows you to spread the cost of an Apple product over time with installments to avoid having to come up with the full price upfront.
- Apple has partnered with Affirm to provide consumers with financing options for its products.
- Rates on Apple Financing range from 0% to 19.95%, with loan terms ranging from 12 to 24 months.
Does Apple Offer Financing In Canada?
Yes. Apple Canada offers financing through a partnership with Affirm, giving Canadians a way to spread the cost of various Apple products across monthly installments, rather than paying upfront.
But Apple financing isn’t available to everyone — you’ll need to apply and qualify, and your approval depends on your credit history. If you can get approved, it’s a convenient way to purchase the latest Apple gear without having to drain your savings.
Apple Financing Options In Canada
Apple financing is handled by Affirm, and the options vary depending on what you’re buying. Here’s a breakdown of what you can expect:
| Loan Amounts | – You can finance up to the full cost of most Apple products, including accessories. – The total limit will depend on your credit profile. |
| Terms | – Installment plans typically run 12 to 24 months, though shorter plans may be available for certain purchases like accessories. |
| Interest Rates | – Promotional offers may include 0% financing (for example, on select iPhones or MacBooks during seasonal promos). – Otherwise, interest rates generally fall between 9.95% to 19.95% APR, depending on your credit profile. |
Other Apple Financing Features
- Apple Trade-In. Apple lets you trade in eligible devices to lower the financed cost of your purchase. For example, an iPhone trade-in might save you a few hundred dollars, reducing your total balance.
- AppleCare+ Coverage. AppleCare+ — which is Apple’s extended warranty and protection plan — can also be rolled into your financing, spreading out that cost alongside your device.
Can You Qualify For Apple Financing? Eligibility Requirements
To qualify for Apple’s financing program, you’ll need to meet at least the minimum eligibility requirements, which are:
- You must be a Canadian resident and of the age of majority, with a Canadian credit file.
- You’ll need a government-issued ID and an eligible payment method.
- Credit approval is required.
How To Get Apple Financing In Canada
Here’s what the process looks like when choosing Apple Financing online or in-store:
- Choose your product: When you shop on Apple.ca or in an Apple Store, you can select the financing option at checkout.
- Apply with Affirm. You’ll be redirected to Affirm’s system, where you’ll provide details like your name, date of birth, address, and income in order to allow it to access your credit file.
- Get a decision. Affirm runs a quick credit check, and approval is usually instant, though some applications may require additional review.
- Select terms. You’ll see your payment options, which will vary depending on the total purchase amount and your own eligibility. Options may include 0% financing for certain products, or interest terms that typically fall between 7.99% – 19.99% APR.
- Pay each month. Your payments will be withdrawn automatically by Affirm from your linked bank account or credit card until the balance is paid off.
For example, if you were to purchase a MacBook Pro for $2,000 including taxes, and qualify for a 12-month term at 0% interest, you’ll pay about $166 per month. But if the same loan comes with 15% APR, you’d pay closer to $180 monthly, and nearly $160 more in total interest over the year.
Does Apple Offer 0% Financing?
Yes, in some cases 0% financing is available. Apple sometimes runs promotions offering 0% APR financing on cell phones and other products. This usually applies to flagship iPhones or Macs during launch seasons or holiday sales.
Outside of promotions, most financing plans will carry an interest rate.
Types Of Apple Products You Can Finance
You can finance almost all Apple products sold directly through Apple Canada, including:
- iPhones
- iPads
- MacBooks and desktop Macs
- Apple Watches
- AirPods and accessories
- AppleCare+ protection plans
There are typically no restrictions—if Apple sells it, you can likely finance it. However, third-party accessories or software purchased elsewhere may not qualify.
Alternative Apple Financing Options And Their Benefits
While Apple financing is convenient for some, it’s certainly not your only option. Depending on your credit, spending habits, and where you shop, you might find a better fit for your wallet elsewhere.
1. Credit Cards
Using a credit card is one of the most straightforward ways to finance new Apple products. The benefits include:
- Rewards and points: Many Canadian credit cards offer cash back or travel rewards, so your purchase earns a little something back.
- Purchase protection and extended warranty: Some cards will automatically extend your manufacturer’s warranty or provide more coverage for theft or damage.
- Mobile device insurance: Premium cards may include coverage if your cell phone is lost, stolen, or damaged.
- Flexibility: You’re not locked into a fixed installment plan.
Of course, the downside here is that interest rates on unpaid credit balances can be high (often 20% or more), making it an expensive way to cover the cost, unless you’re able to pay off your card quickly or use a low-interest promo.
2. Visa Installments
Visa Installments allow you to break purchases into predictable payments at checkout, similar to Buy Now, Pay Later services. Here’s the lowdown:
- Available at select retailers (including electronics stores that stock Apple products)
- Lets you spread payments across terms of 3, 6, 12, or 24 months
- Interest rates vary, but can be lower than credit card APRs
This option can work as a middle ground between traditional credit card financing and Apple’s own financing program.
3. Personal Loan From a Private Lender
If you don’t qualify for Apple financing, a personal loan from a bank, credit union, or private lender could be a suitable alternative:
- Set terms and fixed interest rates: Usually more affordable than credit cards.
- Larger loan amounts: Useful if you’re buying multiple Apple products (e.g., for school or business purposes).
- Availability: Personal loans are more widely available compared to competitive credit cards and Apple Financing, depending on the lender.
The downside here is that you may pay more interest overall compared to Apple’s promotional financing. That said, for those who can’t access 0% or don’t have a strong credit card, a small loan can keep Apple products within reach.
4. Retailer Financing Programs
Apple products aren’t sold only at Apple Stores — you can buy them from a range of Canadian retailers, many of which offer their own financing options.
- Best Buy Canada: Offers financing through Fairstone. You can split payments over 12 – 36 months, with promotional 0% options on certain items.
- Staples Canada: Financing available via the Staples Card, often with deferred payment or installment options.
- Walmart Canada: While financing options are more limited here, Walmart does sell select Apple products and may have installment partnerships through various financial providers.
- The Source: Offers financing options for Apple products, usually through third-party lenders.
The benefit here is flexibility — sometimes these retailers run their own promotions (e.g., no payments for 6 months, or 0% APR for a limited time).
Comparison: Apple Financing Vs. Alternatives
Here’s a quick overview of how Apple Financing compares with alternatives like credit cards and personal loans:
| Interest Rate | Terms | Best For | Downsides | |
| Apple Financing | 0% – 19.95% | 12–24 months | Buyers who qualify for promos and want direct Apple financing | Requires credit approval; promos not always available |
| Credit Card | ~19.99% (varies) | Flexible | Earning rewards, insurance perks | High interest |
| Visa Installments | Varies (often lower than credit cards) | 3–24 months | Predictable payments at checkout | Limited availability |
| Personal Loan | 6% – 30%+ APR | 12–60 months | Larger purchases, low credit | May be more costly than 0% options |
| Retailer Financing | 0% – 29.99% APR | 6–36 months | Shoppers at Best Buy, Staples, etc. | Terms vary widely; may have hidden fees |
Additional Reading
Bottom Line
Apple products are expensive, but Apple financing could be your ticket to owning the latest tech, whether that’s an iPhone, Mac, or iPad. Apple Financing is available directly from the Apple store via Affirm, allowing you to spread out payments, sometimes even at 0% interest.
But if your credit score isn’t strong right now, that’s not your only option — you could also use a credit card or take out a personal loan, for example, to cover the cost.
The right choice will depend on your credit score, budget, and whether you want to mix in credit card rewards or more flexible repayments. If you can qualify for Apple’s 0% financing promos, it’s hard to beat. Otherwise, weigh up the alternatives before you commit.
