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Apple Announces New Mac Consumer Financing Deal "As Low As US$19.99 Per Month"

Apple Announces New Mac Consumer Financing Deal "As Low As US$19.99 Per Month"

by , 12:40 PM EDT, August 10th, 2000

Apple has announced a new financing deal for the Apple Store with the banking behemoth MBNA. The new financing makes it possible for customers at the Apple Store to buy an iMac for as low as US$19.99 per month. This monthly payment level, something that many consumers consider more important than the actual total price paid, is aimed squarely at the segment of the population (in the States) that is largely just now getting wired. Apple says that they are working to roll the financing options to "select dealers" as well. According to Apple:

Apple® and MBNA today introduced instant financing that allows qualified customers to make monthly payments on Apple products, including the entirely new line of desktops recently debuted at Macworld New York.

Through the program—which enables monthly payments as low as $19.99 for the new $799 Indigo iMac™—customers can apply for financing and receive immediate notification at the point of purchase. The program is available now through Apple's online Apple Store™(www.apple.com) in the United States, and is currently being rolled out to Apple authorized resellers.

Loans up to $25,000 are available to qualified customers with a choice of four payment terms: 24, 36, 48 and 60 months. Customers will be able to reaccess their account without reapplying for a loan, enabling future purchases of Apple products with ease.

Apple's new product line includes the revolutionary new Power Mac™ G4 Cube, an all-new iMac family in stunning new colors (Indigo, Ruby, Sage, Graphite and Snow), dual-processor Power Mac G4s, a new family of displays, and the new optical Apple Pro Mouse and Apple Pro Keyboard, which come standard with all Apple desktops.

MBNA Corporation, a bank holding company and parent of MBNA America Bank, N.A., a national bank, has $76.3 billion in managed loans. MBNA, the largest independent credit card lender in the world, also provides retail deposit, consumer loan and insurance products. MBNA.com (www.MBNA.com) provides credit card, consumer loan, retail deposit and shopping services.

You find more information on the loan program at The Apple Store by starting an order. As of this writing, we did not find any direct links to the program on the Apple Store's home page.

The Mac Observer Spin:

Consumerism is a good thing for Apple, whether or not the planet can sustain it. That, however, is a topic for another time. Being able to push the new Indigo iMacs for US$19.99 per month should be an excellent marketing tool for Apple. When Apple announced iMac financing at US$29.99 per month in 1999, it was met with great fanfare. The reality is that many people had difficulty qualifying for the financing at that time. It can be hoped that Apple's new deal with MBNA will help with this.

In any event, this announcement should positively impact Apple.

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