Apple is in talks with its investment bank Goldman Sachs about the possibility of offering customers financial loans when buying Apple products, according to a report by the Wall Street Journal on Wednesday.

Screen Shot 1 2

The Wall Street firm is in talks to offer financing to shoppers buying phones, watches and other gadgets from Apple, people familiar with the matter said. Customers purchasing a $1,000 iPhone X could take out a loan from Goldman instead of charging it to credit cards that often carry high interest rates.

Talks between Apple and Goldman Sachs remain at an early stage and could still fall apart, according to WSJ. Both the tech giant and the investment bank declined to comment for the report.

Part of Goldman's discussions with Apple are said to involve taking over some form of Apple's iPhone upgrade program, which is designed for users who want to have the newest iPhone every year and comes with AppleCare+ included.

Those who sign up for the program in its current form can trade-in their existing iPhone for a new model after 12 monthly installments are made, starting a new cycle of the program each year. Apple started the program in September 2015 with the help of Citizens Financial Group, who finance the zero-interest loans for iPhone upgrades and higher-interest options for other device purchases. The program was introduced around the same time that wireless providers began reducing buyer subsidies for iPhones.

Goldman Sachs is said to view the potential financing deal with Apple as a way of growing its new consumer bank, as it looks beyond corporate clients to more fully embrace retail banking and consumer lending. Two years ago the investment firm launched Marcus, an online lender that helps people refinance credit-card debt, while the bank is also building a "point-of-sale" financing business that will offer loans to shoppers at checkout, according to people familiar with the firm who spoke to WSJ.

Related Forum: iPhone

Top Rated Comments

Abazigal Avatar
97 months ago
In a world war we have the option to take a loan out for a phone. No thanks. I usually purchase my iPhones out right, that way I don't have to deal with carrier restrictions and No monthly payments.
I agree. If I need to take a loan to buy a phone, then it’s probably not a phone I should be buying in the first place.
Score: 15 Votes (Like | Disagree)
69Mustang Avatar
97 months ago
.
Same logic with a car or a house? Just because you don’t have the money upfront doesn’t meant you can’t afford it.
It's not the same logic with a car or house. Financing a place to live or a vehicle to get from A to B is not on par with financing commodity electronics. That's an absurd comparison.
Score: 13 Votes (Like | Disagree)
JonKelley Avatar
97 months ago
Apple has learned from the auto sales industry when you change the conversation to monthly payments instead of the total price, many consumers don’t seem care about the high price. Then, once the $1000 phone becomes an $1199 phone, Cook can say it’s only a few premium coffees a week more again. From a business standpoint I get it, but as a paid-in-full type of customer that tactic doesn’t work for me. I hope customers keep holding onto their phones longer in response.
Score: 11 Votes (Like | Disagree)
Naaaaak Avatar
97 months ago
If you can’t afford an iPhone on your credit card, you have no business going into business with a predator like GS.
Score: 9 Votes (Like | Disagree)
radiology Avatar
97 months ago
If you need a loan to buy a $1000 phone, you shouldn’t be buying that phone.
Score: 7 Votes (Like | Disagree)
44267547 Avatar
97 months ago
In world of when we have the option to take a loan out for a phone. No thanks. I usually purchase my iPhones out right, that way I don't have to deal with carrier restrictions and No monthly payments.
Score: 6 Votes (Like | Disagree)

Popular Stories

iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
iOS 26 Feature

Everything New in iOS 26 Beta 3

Monday July 7, 2025 1:20 pm PDT by
Apple is continuing to refine and update iOS 26, and beta three features smaller changes than we saw in beta 2, plus further tweaks to the Liquid Glass design. Apple is gearing up for the next phase of beta testing, and the company has promised that a public beta is set to come out in July. Transparency In some apps like Apple Music, Podcasts, and the App Store, Apple has toned down the...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
apple account card feature

Apple Account Card Expanding to More Countries

Tuesday July 8, 2025 7:34 pm PDT by
Apple is expanding the ability to add an Apple Account Card to the Wallet app to more countries, according to backend Apple Pay changes. With iOS 15.5, Apple updated the Wallet app to allow users to add an Apple Account Card, which displays the Apple credit balance associated with an Apple ID. If you receive an Apple gift card, for example, it is added to an Apple Account that is also...
iphone 16 pro ghost hand

5 Reasons to Skip This Year's iPhone 17 Pro

Thursday July 10, 2025 4:54 am PDT by
Apple will launch its new iPhone 17 series in two months, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive. If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming...
iPhone 17 Pro in Hand Feature Lowgo

Leaker Reveals Amount of RAM in iPhone 17 Through iPhone 17 Pro Max

Wednesday July 9, 2025 8:08 am PDT by
Three out of four iPhone 17 models will feature more RAM than the equivalent iPhone 16 models, according to a new leak that aligns with previous rumors. The all-new iPhone 17 Air, the iPhone 17 Pro, and the iPhone 17 Pro Max will each be equipped with 12GB of RAM, according to Fixed Focus Digital, an account with more than two million followers on Chinese social media platform Weibo. The...
iphone 16 pro models 1

Here's How the iPhone 17 Pro Max Will Compare to the iPhone 17 Pro

Saturday July 5, 2025 1:00 pm PDT by
Apple should unveil the iPhone 17 series in September, and there might be one bigger difference between the Pro and Pro Max models this year. As always, the Pro Max model will be larger than the Pro model:iPhone 17 Pro: 6.3-inch display iPhone 17 Pro Max: 6.9-inch displayGiven the Pro Max is physically larger than the Pro, it has more internal space, allowing for a larger battery and...
imac video apple feature

Apple Launching These 15+ Products Later This Year

Sunday July 6, 2025 8:05 am PDT by
The calendar has turned to July, meaning that 2025 is now more than half over. And while the summer months are often quiet for Apple, the company still has more than a dozen products coming later this year, according to rumors. Below, we have outlined at least 15 new Apple products that are expected to launch later this year, along with key rumored features for each. iPhone 17 Series iPho...