Apple makes well-designed and durable products that many people around the world use, but they aren’t exactly cheap. According to a LendingTree survey, around a quarter of Americans have taken on an average of $1,492 in debt to buy new tech. And for a lot of them, Apple may be the reason why.
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These are some of the most expensive Apple products people take on debt to own.
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MacBook Pro 16-Inch
Apple’s 16-inch model, fully loaded with max storage and processing power, can cost over $4,000. Though it’s pretty expensive, MacBook is a great tool if you’re doing heavy creative work or software development. Apple offers monthly installments through the Apple Card or their store, and that makes it easier for people to justify the cost.
iPad Pro
iPads are typically quite affordable compared to other Apple products, but once you start adding extra features, it can cost you over $2,000. For example, if you choose the 13-inch model with wifi and cellular connectivity and 2TB of storage, expect to pay close to $3,000.
Spending this amount of money could make financial sense for designers or business owners who actually need the power and storage for work. But if you’ll barely use half the features, you may want to think twice.
iPhone Pro Max
iPhones are already quite expensive, but the Pro Max models with extra storage make it even more unaffordable. For example, if you choose the 512GB or 1TB versions, expect to spend between $1,300 and $1,600. And that’s not including AppleCare, cases, and other accessories,
Apple lets you break the price into monthly payments pay over time at 0% APR, which makes the purchase feel more manageable. But you’re locked into a 24-month commitment. If your financial situation changes and you miss payments, your account could get sent to collections. That can hurt your credit score and stay on your report for years.
Apple Watch Edition or Hermes Models
The high-end Apple Watch Edition models, especially those from the Hermes collection, can easily cost over $1,000. These watches are more about luxury and status than utility. Most people don’t need them, but they like how they look and the way they feel to have something expensive on their wrist.
If you’re mainly interested in features like heart rate tracking, fall detection or fitness monitoring, a standard Apple Watch (typically priced around $400 to $500) can handle all of that just fine. You don’t need to splurge on the designer version unless the style is worth the extra cost to you.
Why Are People Going Into Debt for Apple Products?
Part of it is marketing. Apple is great at making people feel like they need the latest product, even if last year’s version still works fine. Another part of it is the financing options. When something expensive is broken up into smaller payments, it doesn’t feel as painful. But it’s still debt. And over time, it adds up.
For younger buyers, especially those who are chronically online, it’s easy to get fomo when they see people on social media sharing their new Apple products.
There’s nothing wrong with buying nice things, especially if you can afford them. But if you’re swiping a credit card or taking on payments just to keep up with the latest Apple launch, you may want to rethink your decision.
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This article originally appeared on GOBankingRates.com: 4 Most Expensive Apple Products People Go Into Debt to Buy
