Apple No Longer Offers Interest-Free Financing in Canada - MacRumors
Skip to Content

Apple No Longer Offers Interest-Free Financing in Canada

by

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

Aston Martin CarPlay Ultra Screen

Apple Says CarPlay Ultra is Coming to These Vehicle Brands

Thursday May 21, 2026 11:53 am PDT by
Last year, Apple launched CarPlay Ultra, the long-awaited next-generation version of its CarPlay software system for vehicles. Nearly a year later, CarPlay Ultra is still limited to Aston Martin's latest luxury vehicles, but that should change fairly soon. In May 2025, Apple said many other vehicle brands planned to offer CarPlay Ultra, including Hyundai, Kia, and Genesis. CarPlay Ultra...
Read Full Article
ios 26 iphone 16 pro lock screen notifications feature 1

iOS 27 Notifications Will Slide in From Left Side of Your iPhone's Screen

Friday June 5, 2026 7:24 am PDT by
Bloomberg's Mark Gurman today revealed another iOS 27 change: notifications will slide in from the left side of the screen instead of from the top. In addition, accessing Notification Center on iOS 27 will require swiping down on the top-left corner of the screen. If you swipe down on the Dynamic Island area, a new "Search or Ask" interface tied to the revamped Siri will appear, instead of...
Read Full Article • 89 comments
WWDC26 Mock Feature 2

Will Apple Launch New Hardware at WWDC Next Week?

Friday June 5, 2026 7:56 am PDT by
Apple has several hardware releases in the pipeline, but will we see any of them unveiled at this year's Worldwide Developers Conference? WWDC is primarily a software event where new versions of iOS, iPadOS, macOS, watchOS, tvOS, and visionOS take center stage, but it's not unusual for Apple to introduce new hardware during the developer conference. Take WWDC 2017, for example, where Apple...
Read Full Article • 79 comments

Top Rated Comments

sw1tcher Avatar
sw1tcher
39 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)
6
6787872
39 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
canadianreader
39 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
!!!
39 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
HobeSoundDarryl
39 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)
6
6787872
39 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)
Read All Comments