Apple No Longer Offers Interest-Free Financing in Canada

Apple stopped offering interest-free financing for new iPhone, iPad, and Mac purchases in Canada as of earlier this month, as noted on Reddit. Going forward, APRs range from 4.99% to 7.99% to finance these products over 12 or 24 monthly payments.

Apple Store Vancouver Canada
For example, Apple says a customer who purchases an iPhone for $1,099 would have a monthly payment of $49.70 for 24 months. The customer would pay a total of $1,192.79 over this term, including $93.79 in interest charges.

The current financing offers available:

  • iPhone: 7.99% for 24 months
  • iPad: 4.99% for 12 months
  • Mac: 4.99% for 12 months

The change comes after Apple's financing partner PayBright was acquired by Affirm in 2021. Apple's website says financing is now provided by Affirm.

Many of Apple's financing options in the U.S. are not available in Canada, including Apple Card Monthly Installments, Apple Pay Later, and the iPhone Upgrade Program, leaving customers in the country with few options beyond Affirm.

Popular Stories

iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro Coming Soon With These 14 New Features

Friday July 4, 2025 1:05 pm PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models. Latest Rumors These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...
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...
iPhone Car Key Kia

Here's Which Vehicles Offer iPhone Car Keys

Sunday July 6, 2025 3:03 pm PDT by
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further. Apple has a web page with a list of vehicle models that ...
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...
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...
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...
iphone 17 pro render majin bu

New iPhone 17 Pro Renders Highlight Apple Logo and MagSafe Design Changes

Sunday July 6, 2025 8:43 pm PDT by
New renders today provide the best look yet relocated Apple logo and redesigned MagSafe magnet array of the iPhone 17 Pro and iPhone 17 Pro Max. Image via Majin Bu. Several of the design changes coming to the iPhone 17 Pro model have been rumored for some time, such as the elongated camera bump that spans the full width of the device, with the LiDAR Scanner and flash moving to the right side. ...
Prime Day 25 Feature Warm Triad

The Best Early Prime Day Deals on Apple Products

Saturday July 5, 2025 7:22 am PDT by
Amazon is soon to be back with its annual summertime Prime Day event, lasting for four days from July 8-11, the longest Prime Day yet. As it does every year, Prime Day offers shoppers a huge selection of deals across Amazon's storefront, and there are already many deals you can get on sale ahead of the event. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a ...
airpods pro 2

AirPods Pro 3 to Help Maintain Apple's Place in Earbud Market Amid Increasing Low-Cost Competition

Thursday July 3, 2025 7:25 am PDT by
Apple's position as the dominant force in the global true wireless stereo (TWS) earbud market is expected to continue through 2025, according to Counterpoint Research. The forecast outlines a 3% year-over-year increase in global TWS unit shipments for 2025, signaling a transition from rapid growth to a more mature phase for the category. While Apple is set to remain the leading brand by...

Top Rated Comments

sw1tcher Avatar
27 months ago

nobody should ever finance electronics. if you have to, you can't afford it.
Who's smarter, the person who pays $10,000+ up front for their Mac Studio and XDR display home studio setup or the person who takes advantage of Apple's 0% APR to buy the same setup and then take their time to pay it off over 12 months while freeing up those funds for something else (1 yr Treasury pays 5.33%, many 1 yr CDs pay 5%+)?
Score: 56 Votes (Like | Disagree)
6787872 Avatar
27 months ago
nobody should ever finance electronics. if you have to, you can't afford it. interest-free is nice if you don't want a hit to your wallet but def not worth paying an APR
Score: 30 Votes (Like | Disagree)
canadianreader Avatar
27 months ago

The change comes after Apple's financing partner PayBright was acquired by Affirm in 2021. Apple's website says financing is now provided by Affirm.
Direct results of mergers and acquisitions.
Score: 28 Votes (Like | Disagree)
!!! Avatar
27 months ago

Sucks, but to be fair, the interest is not that bad if you need to finance, and let's face it, many do.
Why do people "need" to finance phones? Even if you argue you need a phone for life in the 21st century, there's no reason you need to spend $1000 on the latest iPhone that had tons of features you'll never use.
Score: 20 Votes (Like | Disagree)
HobeSoundDarryl Avatar
27 months ago
Once a company gets into making money on interest, the intoxication of that easy(est?) money can take over. Too many great companies in history eventually became IMO overly enamored on the finance operations such that all other things fell to second or lower priority. There is a near endless well of profit made on people's debt in that direction.

Hopefully, that won't be the case here, but the temptation will be great once the interest profits start to pile up. You think "services" revenue is something? Just wait if this policy spreads globally.

Interest profit has no product costs, no supply chain costs, no warehousing, etc. Some people will obviously take on any level of rate as long as the monthly payment hits some level, etc. Apple has a mountain of cash + credit to fund their own, for-profit financing operation. Literal bean counters can fully run this.

Spectacular for shareholders concerned with only one thing but TBD- at best- for us consumers. Making easy money on credit is near impossible to resist for those most concerned with "another record quarter in revenue & profit."
Score: 15 Votes (Like | Disagree)
6787872 Avatar
27 months ago

Who's smarter, the person who pays $10,000+ up front for their Mac Studio and XDR display home studio setup or the person who takes advantage of Apple's 0% APR to buy the same setup and then take their time to pay it off over 12 months while freeing up those funds for something else?
that's probably why i said


interest-free is nice if you don't want a hit to your wallet but def not worth paying an APR
Score: 12 Votes (Like | Disagree)