While on paper, there are Android phones out there that offer better hardware and software compared to Apple’s iPhones, the Apple branding and lifestyle that they managed to create over the decades is an allure that is simply too hard to resist for many. This is despite the fact that Apple products are generally more expensive than its competitors.
So the question is, would you consider going into debt to own an iPhone? As it turns out, a shocking 20% of Americans surveyed think that it’s worth it. This is according to a recent survey conducted by WalletHub in which they found that 1 in 5 Americans believe it’s worth going into debt to own Apple’s brand new iPhone 15.
Keep in mind that “debt” doesn’t mean that they will borrow money or go bankrupt trying to own the iPhone, but rather it refers to buying the phone on an installment plan or financing it, which is also a form of debt, as opposed to buying it outright. That being said, this isn’t just an iPhone thing.
Many smartphone users do buy their phones on contract from carriers. Given how much phones cost these days, paying off the cost of the phone over the course of 24-36 months is a lot more palatable compared to paying for it outright, especially for flagships that cost around the $1,000 mark, but what do you think? Are you the type that prefers financing their devices, or would you rather just pay for it outright and be done with it?