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Apple offers six months' interest-free credit on iMacs

Old ones, that it - not the new ones coming next month

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Apple UK's offer of interest-free credit for buyers of the current generation of iMac isn't quite as good a deal as it's cracked up to be.

First up, all anyone who takes up the offer is doing is helping Apple UK rid itself of old iMacs while the company prepares itself to roll out new models next month.

Second, while the loan is interest free for the first six months, that doesn't mean you're getting a Mac for free during that period, or that you won't pay the interest you would have accrued but for the special offer.

According to the deal's terms and conditions, if you pay the loan off during the six month period, you're OK. Equally, if you pay the minimum you're allowed to (four per cent of the balance or £10, whichever is higher) and then pay off the balance in month six, you're OK.

End up paying interest on the remaining balance, and you'll end up coughing up at an APR of 29.8 per cent, significantly higher than any UK credit card (if you have one).

To be fair, Apple doesn't disguise any of the details of its offer - that would be illegal, in any case - but one or two reports we've seen haven't checked the Ts&Cs before praising the plan.

The offer applies only to current iMacs bought from the AppleStore or select authorised resellers, and ends on 31 July. Would-be borrowers have to pass Apple's credit checks and be over 18. ®

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