Interest-free financing no longer offered by Apple in Canada

Apple has killed off Canada's last option for interest-free financing of iPhones, Macs, and more.

Canada doesn't have access to Apple Card or other financing options like iPhone Upgrade Program, but Apple customers did have a zero-interest finance option for a time. PayBright offered a zero-interest finance option in Canada as a subsidiary of Affirm, but that option is now gone.

According to an Apple webpage, Affirm has taken over as the finance provider and interest rates apply. When purchasing an iPhone, interest rates are set to 7.99% over 24 months, while iPad and Mac are set at 4.99% over 12 months.

Apple provided an example for how interest would affect the final price when buying an iPhone. If an iPhone costs $1,099, the customer would pay $93.79 over a 24-month period if minimum payments of $49.70 were made.

This isn't an ideal situation for customers in Canada and shows how Apple's lack of financial offers outside of the United States can affect sales. Apple Card launched in 2019 and still isn't available anywhere outside of the US.

This story was first shared by MacRumors' own Canadian resident Joe Rossignol. The lack of financial options is a clear sticking point for Apple's fanbase, as responses to a Reddit post has shown.

Apple hasn't made any moves to change how financing works in the US beyond a slight change to how it sells unlocked devices online. Apple Card and iPhone Upgrade Program, along with a plethora of carrier financing options, give customers plenty to choose from when buying a device.