Update 09/17/2021: Apple has brought back 24-month financing options for the iPhone. The iPad seems to still only have 6-month financing as an option.
Despite only just introducing its financing plans for the iPhone, iPad and Mac back in August, Apple has already made significant changes to how the program works alongside the reveal of its iPhone 13 series.
Instead of 12 or 24-month payment plans, bringing the cost of the iPhone 12 Pro Max, for example, down to $65.54 per month, now the only payment term option is six months.
This drastically increases the monthly cost and makes financing the iPhone 13 series far more pricey. For example, the iPhone 13 Pro costs $233.16 per month on a six-month repayment plan, while the iPhone 13 Pro Max costs $258 on a six-month repayment plan. Apple’s iPads, including the new iPad mini and entry-level iPad, are also only available on six-month payment plans.
On the Mac side of things, 12 monthly payments are still an option.
Paybright by Affirm remains the provider of Apple’s payment plans, so it’s unclear why the company opted for this change. It’s worth noting that previous monthly payments on a 24-month plan were more in line with what Canadian carriers typically charge to finance devices through plans.
All payment plans are available with zero percent APR “on approved credit for iPhone purchases over $99, and iPad and Mac purchases over $199,” according to the fine print. It’s likely that Apple’s zero percent APR option is only available for a “limited time.”