Apple Store (Online) Adds "90 Days, Same As Cash" Terms

We noted that Apple has offered new financing terms at the online Apple Store: 90 days, same as cash. The terms are just as they sound, if you can pay for your Apple product within 90 days, there are no financing terms, but one can also begin payments in three months. In the promotion at the Apple Store, the company is touting "No payments, no interest until July 2002." The offer is being made in conjunction with Appleis financing partner for the Apple Store, MBNA, and the company says it is a "limited time offer." From the Web page:

With three months same-as-cash and interest rates as low as 9.99%, now is a great time to get the Apple products you need. In most cases you will get a decision on your loan application within 30 seconds.

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

But thatis not all. Your Apple Instant Loan comes with a lot of great benefits including low monthly payments, flexible repayment options and no pre-payment penalty.

Apple and MBNA® have made instant financing so easy, the hardest part may be picking the Mac that fits best with your decór.

*Financing available for U.S. residents on approved line of credit from MBNA America Bank, N.A. The monthly payment is an estimate based on your total purchase, the selected repayment term, and an APR of 9.99%. Actual repayment term may vary. MBNA will set your APR between 9.99% and 26.99% based on your credit worthiness. The APR is not guaranteed and may change. In most cases, a change in the APR will change your repayment term and may change your minimum monthly payment. There is a 3% transaction fee on each advance (fee: min. $5, max. $40.), which does not apply to purchases billed by Apple directly to your account. Receipt of maximum credit line is subject to income and credit worthiness standards.

You can find the offer by visiting the home page of the Apple Store and clicking on the "90 Days" image in the right hand side of the page. The Apple Store is tied to your cookie with an expiring "session," which makes providing a direct link impossible.