Apple has stopped offering interest-free financing for new iPhone, iPad, and Mac purchases in Canada. The Cupertino company dropped the interest-free financing earlier this month, says a post on Reddit.
From now on, APRs will range from range from 4.99% to 7.99% if you finance any of these devices for 12 or 24 months.
The current financing offers include:
- iPhone: 7.99% for 24 months
- iPad: 4.99% for 12 months
- Mac: 4.99% for 12 months
The change comes following the acquisition of Apple’s financing partner PayBright by Affirm in 2021. All Canadian Apple financing is now underwritten by Affirm, which is now the main option for financing Apple device purchases.
U.S. financing options that are not available in Canada include monthly installments on an Apple Card, Apple Pay Later, and the iPhone Upgrade Program.