What Is The Smartest Way To Buy An iPhone?
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For the first time, Apple has decided to release the new iPhone 16 model in Malaysia at the same time as the United States.
Hardcore Apple fans who have pre-ordered and scheduled an in-store pickup on launch day on September 20 were able to get their hands on their shiny new purchase at Malaysia’s first Apple Store at The Exchange TRX.
Where can you pre-order the iPhone 16?
For other Apple fans, there is no need for FOMO if you missed today’s date. You can always head to Apple Malaysia’s official website to order at your convenience.
You can also pre-order the iPhone 16 through the list of Apple Authorised Resellers below:
Ways to afford the new iPhone
Finding out how you can get your hands on the iPhone 16 is the easy part. Planning how you’re going to afford a phone that costs more than the downpayment for some cars is the next step.
If you have set your heart on owning an iPhone as a must-do item on your bucket list, then it’s time to crunch the numbers.
The telco way
Buying an iPhone from a telco is perhaps the most popular method for affording the ridiculous price. All major telcos will offer some sort of deal for the iPhone, with upfront payments usually coming about half the price of buying it off the shelf.
There are other benefits for buying an iPhone from a telco. Some offer additional discounts for pre-orders, and also include home delivery. This also includes midnight launches, so that you don’t have to wait very long to get your phone especially for diehard Apple fans out there.
That said, these telcos still require you to sign a new 2 year contract for the device. This means that you will won’t be able to stand in line for next year’s iPhone. It’s a tricky balancing act, unless you’re willing to pay the early termination penalty to change phones every year.
Paying by credit card installments
You want to be able to buy the iPhone, but can’t pay the price up front and are not interested in being tied to a telco. In that case, Apple resellers often offer installment plans; although all of these plans are tied to having a valid credit card. These range from 6 to 36 months and come with their own range of conditions.
For instance, Switch requires 12 to 24 month installment plans to also buy a Smart Protection Plan and an iPhone casing.
Start an iPhone fund
You can’t go wrong with hiding a little money under your mattress. It might take a while, depending on how much you’re able to put away each month. Cutting living expenses might not be enough to get you over the finish line to get your hands on that iPhone this year.
Slow and steady may win the race. But you’re looking at next year’s iPhone if you start saving now.
Take a personal loan or store financing
This sounds like the most extreme option, but it does come with its own benefits. Think of it as an installment plan for people who don’t want to own a credit card. In fact, Apple resellers Switch and Machines will actually help you with this micro-financing option as part of their easy payment schemes.
You can also apply for your own personal loan through your preferred bank. Most won’t ask too many questions if you have a decent credit score, or may just get a good laugh out of your answer.
However, don’t forget the interest rate for such a – comparatively – small amount which can amount to a significant portion of the total sum you eventually pay. Interest rates generally range from between 8- and 18-percent for these micro-financing products. Remember to take a step back and assess if you can afford to pay the instalment for this loan on top of your other financial commitments!
Yes, the new iPhone is going to be expensive. And you really don’t need to upgrade every year. Not to mention that the older iPhones have also received price cuts, and have aged very well.
That said, people need to buy a new phone at some point in their lives. If you happen to be in the market to purchase a new device, it doesn’t hurt to spend a little more on something that could potentially last 3 or 4 years.
