Got Bad Credit? Can you really afford an iPhone 8?
If you’ve got bad credit and really need an iPhone 8 don’t go into debt for it, especially if you have bad credit and don’t get a payday loan, your shiny new phone will make you feel great for about 10 mins until you realise how much debt you have just got into.
Aren’t iPhone 8’s great though?
You are probably aware that the iPhone 8 and 8 Plus are upgrades to Apple’s current iPhone 7 and 7 Plus range, improving some of the main features found on Apple’s current products, as well as adding new ones such as wireless charging. Also, the new iPhones come with Apple’s operating system iOS 11. iOS 11 includes hundreds of new features like a redesigned control centre, better multitasking, improvements to the camera, peer-to-peer Apple Pay and new safety features. But, do you really need one?
Quotes from the experts
A quote from Tim Cook, chief executive said “Our intention has always to create something so magical, powerful, that the hardware virtually disappears,”.
Apple also claims the new camera delivers “the highest quality video capture ever in a smartphone”.
The Telegraph Technology editor James Titcomb describes the new iPhone 8 as “a worthy upgrade” on its current line up.
If You Really Have To Buy One
If you looking at buying an iPhone 8 there are a couple of options and things to look out for;
Buy an iPhone 8 on Contract
If you have bad credit the mobile dealers are not going to allow you to buy a phone on contract but if your credit is ok then the things to look out for when taking a contract out is the total cost. Remember, it’s for 24 months (usually). think about how much time you talk, text and chat online before going for the cheapest monthly payment because the additional charge percentages from mobile companies, for going over your tariff is higher than the percentage you’ll pay on a payday loan!!!!!!! So be careful and choose the correct tariff is you have to take a contract out.
Buy an iPhone 8 outright
Another cheaper option, if you can afford to pay for the iPhone upfront is to buy one outright and just get a sim. Sim contracts nowadays can be as little as £5 per month, if you only use a small amount of data, texts and calls.
Ebay is a great place to find a good deal on a new iPhone 8 or even go for a pre-owned iPhone
But Remember, you don’t really need one
Look at the prices of the iPhone 6’s and 7’s, they essentially do the same thing and if it’s peer pressure, they pretty much look the same. The savings you can make by buying an iPhone 6 or 7 outright can be as much as £600. Also, you can find a good sim only package for as little as a fiver a month.
Think about the other costs
Whether you can justify to yourself that you NEED an iphone 8 in your life you need to think about the other costs associated to owning a phone of this cost.
Service/Repair Costs
Although your brand new phone will be under warranty with the manufacturer, you won’t need to worry about those faults.
Think about the time you dropped your last phone in the toilet!! or onto the pavement!! These costs have to be taken into account, a water damaged phone is usually a total write off and you’ll have to buy another phone. Dropping your phone shouldn’t be as bad but a screen repair on an iphone 8 could cost you upwards of £200!!! is it really worth worsening your bad credit and go further into debt if you drop or damage your phone? do you have the resources to pay for that repair? or would you have to resort to getting yourself a short term loan with the likes of LoanPig just to repair a phone you couldn’t afford in the first place.Image
A lot of people who want the iPhone 8 want it because of image or peer pressure, let me explain how this can get you into serious debt and lead you down the path of only being able to get a loan or credit from a lender who will deal with customers with bad or really bad credit.
So you’ve got the phone you couldn’t really afford, have you got the coat, the jeans, the trainers, the t-shirt, the bling etc. etc. to go with your image now you’ve go the latest phone?
Now you gone into debt for a phone, just to appear as though you belong in the group, someone turns up with an expensive case for it, then all your friends get similar expensive cases, but your thinking, i don’t have any money left so i’ll just get another payday loan to keep up.
Alternatives to Bad Credit Payday Loans
So if you have got Bad Credit and you still want the iPhone 8 and you can’t get a contract as the mobile company’s won’t deal with you then a Payday Loan isn’t the answer. The best advice on offer here is, if you cannot afford to pay for it now, then don’t buy it but if you cannot or will not wait because your social life depends on it an alternative is to buy pre-owned iPhone 8 or an iPhone 6 or 7 and spread the cost over 2-12 months with a Short Term Loan or save up and wait until you don’t need to take out a loan at all.
Don’t go into debt for an expensive device that a hundred other devices could do at a fraction of the cost, don’t go without paying a bill or subscription just to have this item.
I know you might not think about your credit score now but if you get a reputation for missing or not paying bills then your credit score deteriorates and the lower it gets the harder it is to get any type of credit at a percentage you feel is acceptable.
So think twice……Do I NEED the iPhone 8?