How To Finance iPhone In Canada In 2025

The world of technology is rapidly changing every day and the number of people keying into it is mind-blowing. One of these technologies is the iPhone smartphone technology. With durability, design, and prestige the iPhone gives, it makes it one of the sort after smartphones in Canada.

From different age groups, everyone is looking to get an iPhone smartphone. If you're one of these individuals and you're wondering how you can finance an iPhone in Canada, then you're in the right place. 

In this article, we'll be covering all that has to do with iPhone financing in Canada, financing an iPhone through a personal loan, how to finance an iPhone through carrier financing, how to finance an iPhone through Canada financing, the best credit cards for iPhone financing, financing an iPhone through retailer financing, Walmart iPhone financing and many more. If this is what you're searching for, then keep reading as I go deep into all of the financing types I mentioned above.

Apple is one of the biggest mobile phones in Canada, the company is known to control the smartphone market, and ever since, it has remained the mobile smartphone with the largest market share in the whole of Canada. 

According To Finder.com. Apple has a market share of 62.39% in Canada. With this whopping market share, you'll realize that Canadians are finding their way around Apple and are eager to use the smartphone. Even though Apple has been high in the market and the price tag looking discouraging, people still want more of it and looking for ways to either get one for themselves or even upgrade their current one to the latest iPhone in the market. 

Due to this high demand for the iPhone smartphone, different companies are not using the opportunity to create financing options for Canadians looking to have an iPhone of their choice.

If you badly need the iPhone and you're financially handicapped, then don't worry, there are so many options you can use to finance the phone.

We've taken our time to pick options that are friendly for anyone either with good or bad credit.

The surging market of the iPhone is making it difficult for low-income earners to use their money to buy anyone of their choice. If most people are to buy directly from their pocket, they'll be spending an average of $500-$1500 depending on the type of phone they wish to buy. This can lead an average income earner to break the bank and come out of his or her savings.

I don't want you to become that Harry who breaks his savings to buy an iPhone and ends up not having anything left.

Keep reading to learn How To finance an iPhone in Canada.

Also Read: How You Can Get a Government Job in Canada in 2025 (Learn How)

Also Read: How Does Reverse Mortgage Work in Canada?

Financing An iPhone In Canada (How To Finance An iPhone)

Financing an iPhone is pretty easy today as you can perform this even online without having to leave your place of comfort. 

Despite some of the models being expensive, you can still get them using the iPhone financing options provided by these companies out there ready to help individuals like you looking to get an iPhone. Below are some of the ways you can finance an iPhone in Canada

4 Best Ways To Finance An iPhone In Canada In 2025

There are several ways you can easily finance any iPhone of your choice in Canada. To easily finance an iPhone in Canada in 2025, here are some great options to do.

• Personal Loan iPhone Financing Option
• iPhone through carrier financing
• iPhone Financing through Apple Canada financing
• Credit Cards iPhone Financing Option

Personal Loan iPhone Financing Option

The loan option is one of the popular financing options used by most Canadians in getting an iPhone of their choice. You can use this option to secure a personal loan from any financial institution such as the bank credit union and other verifiable money lending platforms in Canada to finance your iPhone.

In Canada, most of the companies, mobile apps, and other financial institutions offering personal loans in Canada usually have an APR of 2%-46% depending on the creditworthiness of the borrower. 

To go about financing your desired iPhone, all you need to do is apply for a loan and make sure you're dealing with a reputable company. Once you apply for this loan and the lender approves your loan application, you can then go ahead and use the cash to pay for the iPhone of your choice. The loan amount will be paid to you via direct deposit or email transfer depending on your preference. Open completion of the payment by the lender, you can then finance your phone while you gradually pay the loan in installments until you clear up within the loan tenor.

Pros Of Financing An iPhone Using Personal Loans

• The personal loan is a great financing option when compared to carrier plans out there.
• There are always loan options available for both excellent and bad credit
• You have the option to change or cancel your plans without any penalty involved. This means you are not locked into any contract.
• The repayment option is flexible and always has a longer loan tenor
• Loan application decisions are fast
• You can finance an iPhone in installment

Cons Of Financing An iPhone Using Personal Loans

• Getting approval can be difficult for those with bad credit or a bad loan history in the past.
• Credit score determines your eligibility for a loan.
• The lender's minimum amount for the loan can affect the iPhone financing if it does not cover the amount for the iPhone device. Some lenders do not offer loans of less than a thousand bucks.
• The interest rate of bad credit is on the high side.

List Of Companies Offering Personal Loan Financing Options for iPhones In Canada

Below is the list of companies offering personal loans that you can use to finance your iPhone.

• Mogo
• Fairstone
• Spring
• Fora
• Loans Canada
• Consumer Capital
• LoanMeNow
• Fatcat
• Gopher
• Skycapfinancial

iPhone through carrier financing

Popular wireless telecom carriers in Canada such as Bell, Telus, Koodo, Fido, and Rogers are known to offer iPhone payment plans that come with ) percent APR when you sign a contract of 2 years with them. When you have a phone plan that is currently running and you have no intention of changing your service provider.

Pros Of iPhone Financing Through Carrier Financing

• You can easily visit any of their stores and pick up your brand-new iPhone
• Available discount if you swap your old iPhone
• Access to different iPhones from big brands

Cons Of iPhone Financing Through Carrier Financing

• The fees are usually high when it comes to upgrades or activation of an iPhone by some carriers
• Bad credit may hinder you from getting a 0% APR
• You're locked into a contract for up to 2 years until you fully pay your outstanding payment.
• There is a penalty fee for breaking the contract.

iPhone Financing through Apple Canada financing

The Apple financing option is a great way to finance your iPhone device in Canada. This option allows you to enjoy financing for brand-new iPhones, used iPhones, or even certified refurbished iPhones. As a customer, you can enjoy a $0 downpayment for the device through Affirm if you buy directly from the website. The decision on this is always instant and the approval rate is very high when using the Apple financing option in Canada.

The Apple financing option usually comes with an interest rate of 7.995 when you make a purchase of $99 and above with no additional fees.

Upon your approval, your payment plan will be set to 24 monthly payments.

If you have an older version of the iPhone in working condition, you can simply trade it off and have the value of your old device added as a discount to the overall total cost of the new one.

As of the time of writing this article, you can get anywhere from $250 to $845 in credit toward a new iPhone when you trade in an iPhone 11 or higher. This can change because the price is not fixed, so make sure you're updated on that.

Pros Of iPhone Financing through Apple Canada financing

• You can easily swap or trade your old device.
• Discount can be applied to a new iPhone you're buying when you trade an old one.
• You get to enjoy financing for various devices such as iPads and Mac computers. 
• Having credit gives you access to better payment plans that come with 0% interest in 24 months.
• An installment payment option is available

An approval decision is almost instant

• Cons Of iPhone Financing through Apple Canada financing
• Minimal financing option
• Having bad credit hinders you from getting 0% interest in 24 months.

Credit Cards iPhone Financing Option

Using a credit card is also another great option for iP{hone financing in Canada. However, these financing options are usually on the high side because most of them have an interest rate of around 20% making it expensive when compared to a personal loan.

If you intend to follow this route, then you can apply for a low-interest credit card. The card comes with an interest rate between the range of 9% and 15%.

Some of the popular low-interest credit cards you can use for the financing of your iPhone device are the Scotiabank Value Card and BMO Preferred Rate Mastercard.

Pros Of Financing an iPhone Using a Credit Card

• Some credit cards come with different rewards
• you can use the card to perform other tasks such as paying off bills
• You can build good credit using the card
• Your iPhone is automatically yours outright.

Cons Of Financing an iPhone Using a Credit Card

• The financing option is expensive
• The price of the device can exit the credit limit
• Bad credit hinders approval

Conclusion

You can choose the financing option you wish from the list we talked about above. Make sure you carefully go through them and understand which one of the financing options is okay for you.

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