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If I choose to finance the iPhone 11 pro max, how do those payments work?

If I choose to finance the iPhone 11 pro max, how do those payments work? Can I pay the regular fee monthly and choose to add a couple extra hundred dollars in (if I have extra money kicking around) to pay the phone off faster? Will this change the monthly rate? Are there penalties incurred for early payments or over payments?



[Re-Titled by Moderator]

Posted on Sep 18, 2019 1:47 PM

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Question marked as Top-ranking reply

Posted on Sep 18, 2019 1:59 PM

It depends on how you finance it.


If you use the iPhone Upgrade Program you can pay in advance as you need to. When you complete the equivalent of 12 months of payments and have been in the program for more than 6 months you can update to a new iPhone for free, and restart the payment plan. Monthly payment amounts do not change. You'll just finish paying earlier.


More details here: iPhone Upgrade Program - Apple


If you use the Barclays Financing option, then payments are done to Barclay not Apple. Advanced payments can be done, and will go towards capital rather than interest. your payments should then be recalculated based on what you owe then.


More details here: Apple Financing with Barclaycard Credit Card - Apple

3 replies
Question marked as Top-ranking reply

Sep 18, 2019 1:59 PM in response to Financing

It depends on how you finance it.


If you use the iPhone Upgrade Program you can pay in advance as you need to. When you complete the equivalent of 12 months of payments and have been in the program for more than 6 months you can update to a new iPhone for free, and restart the payment plan. Monthly payment amounts do not change. You'll just finish paying earlier.


More details here: iPhone Upgrade Program - Apple


If you use the Barclays Financing option, then payments are done to Barclay not Apple. Advanced payments can be done, and will go towards capital rather than interest. your payments should then be recalculated based on what you owe then.


More details here: Apple Financing with Barclaycard Credit Card - Apple

Sep 18, 2019 2:57 PM in response to Financing

Both the iPhone upgrade plan and the Apple financing result in you getting a zero interest, term limited consumer loan, from Citizens One bank for the upgrade plan and Barclays Bank for the finance deal. As long as you pay the full loan amount within the term limits, there is no interest applied. You can pay above the minimum monthly amount if you wish and you can also pay the whole balance anytime you wish.

If I choose to finance the iPhone 11 pro max, how do those payments work?

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