Apple and Goldman Sachs in Talks to Offer Loans to Customers to Buy Apple Products

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Apple and Goldman Sachs are reportedly in talks to offer customers financial loans for buying Apple products. Most customers usually end up buying their expensive new Apple product through their credit card which carries high interest rates. Goldman Sachs wants customers to avoid paying such high interest fees by taking out a loan from them instead.

The talks between both companies are still in early stages and could fall apart. If the talks between the two companies go through, you should be able to take a loan from Goldman Sachs towards buying a $999 iPhone X or the $4,999 iMac Pro. It is unlikely that Goldman Sachs will offer loans to customers looking to buy cheaper iPhone models like the iPhone SE or even the $329 iPad. Goldman Sachs wants the deal to go through so as to give its consumer business a strong push.

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.

Apple already offers customers with zero-interest loans for purchasing an iPhone through Citizens Financial Group, though other devices do carry a high-interest rate. Apple itself offers customers a way to get their hands on the latest iPhone every year by paying it in monthly installments without any interest rate. Through the iPhone Upgrade Program, customers can get an iPhone and pay for it over a period of 2 years. They can also upgrade to a new iPhone every year through this program at the end of the first year.

Again, the talks between the two companies are still in nascent stages so don’t get your hopes high about being able to purchase the next iPhone X Plus through an interest-free loan later this year.

[Via WSJ]

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