Apple and Best Buy tackle cost-of-living crisis with new program

The cost of living crisis has made buying expensive technology even more difficult. But Best Buy is offering a new program that it hopes will help those struggling to buy a new computer.

The retail giant announced the Upgrade+ program (opens in a new tab)which will allow prospective buyers to finance an upgrade to Apple silicon, including the MacBook Air and MacBook Pro. Participants can purchase a new Apple laptop and pay in 36 monthly payments, before deciding whether to upgrade to a newer model. new in monthly payment 37.

For example, for a $999 MacBook Air, each payment in the first 36 months is $19.99 and the final payment is $280.35. However, if you return the product and leave the program or decide to upgrade to a newer model or eligible MacBook, Best Buy will make the final payment on behalf of the participant.

The list of laptops eligible for the program includes the MacBook Air M1 and M2 versions, the 13-inch MacBook Pro (M2), the 14-inch MacBook Pro (M1), and the 16-inch MacBook Pro (M1). AppleCare+ and certain accessories can also be financed through the Upgrade+ program.

How useful is this really?

Financing expensive products through monthly payments is not a new concept, as phone companies have been leveraging this business model for years so customers can get the latest phone in their hands.

However, the concept of extending this to laptops is new and it will be interesting to see how well the program works.

This could be beneficial to participants in a number of ways, including being a much more affordable method of buying otherwise expensive laptops, essentially renting a laptop for a few years at a pretty decent price before giving it away after the end of the period, or ensure you always have the latest machine without having to deal with all the waste and extra expense of buying them normally.

Of course, the Upgrade+ program is not a charity and there are points (opens in a new tab) You should keep in mind, such as you must open a line of credit with Citizen’s Pay, or if you choose to end the program early, you must pay the remaining cost of the laptop (this also includes if you are no longer financially able to make these payments).

But if you know what you’re getting into, this is possibly a great way to buy a high-quality laptop at an affordable price during the cost-of-living crisis.