Officeworks Upgrade Plus a New Deal?

life is suffering on 07/04/2025 - 23:18

This is a device only plan basically.

https://www.officeworks.com.au/information/policies/upgradep…

An exclusive new way to get the Apple products and services you've always wanted.
Available on participating Latitude credit cards.

eg:
iPhone 16 Plus 128GB Teal

Officeworks Upgrade+ Price

$1,597.00 / 24 Months Interest Free/ $52/month

$1,234.04 + Balloon payment $362.96 + Latitude monthly card fees 262.8 = $1,859.8 or 262.8 extra to get a new device basically

a good deal? what are your thoughts?

Poll Options expired

  • 0
    yes
  • 31
    no
  • 0
    cant tell
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Comments

  • stirlo on 08/04/2025 - 06:27
    +1

    262.8 extra to get a new device basically

    Are you missing the part where they say you can get a new device on a new interest free plan?

    You still have to keep paying them $62 (or more) a month for the new device they give you!!!

    Basically you pay full price to lease a phone, then need to pay them at the end to keep it. Then if you want to sign up to a new lease you can. There's no "free phone" in here.

    Terrible deal

  • brendanm on 08/04/2025 - 06:51
    +2

    How is paying $262 extra a deal?

    • life is suffering on 08/04/2025 - 07:23
      -2

      Not a deal but an opportunity

      • sw0rdy on 08/04/2025 - 07:35
        +9

        the only opportunity is to lose money for absolutely no reason.

      • brendanm on 08/04/2025 - 07:58
        +4

        The opportunity to lose $262?

  • pegaxs on 08/04/2025 - 08:50
    +6

    A (fropanity) balloon payment? On a phone? So, you pay it off for 2 years and there is still a "balloon payment" due at the end of it…

    I think you answered your own question.

  • happydude on 08/04/2025 - 12:26
    +4

    This is a "Poor Tax" product.

    Pay less upfront, and much more over the long term.

  • djsweet on 08/04/2025 - 12:39
    +1

    So it’s $268 for the convenience of spreading the payments over 24 months. They’ve shifted the interest into a card fee so they can claim “interest free”. Structuring like this to obscure costs should be illegal.

    • djsweet on 09/04/2025 - 10:21
      +1

      Granted, if you are paying the card fee anyway (not related to this deal) and you want to spread your payments over 24 months, its not a bad deal.

  • MBix on 08/04/2025 - 13:31

    Yeh this really is a weird offering. A lot of people on OzBargain already have a Latitude Card with the $10.95 monthly fee so in that sense it's not the worst as the last balloon payment is just the remainder of what's owed on the device…but you can still purchase 24 months interest free from Officeworks with Latitude anyways without the need for a payout figure. Are they spruiking the benefit being you can hand the iDevice back at the end of the term and then you would have had it for 2/3 years for slightly cheaper?

    • life is suffering on 08/04/2025 - 13:47

      I think the balloon kicks in only if you want to keep the device. They think device renewal every 2 years would be the norm ?

      • MBix on 08/04/2025 - 14:00

        Yeh, in which case depending on the device would probably make yourself a decent chunk of change + pay off the balloon payment if you sold it yourself

        • djsweet on 09/04/2025 - 10:19
          +1

          lol yeah. Essentially they get the option to buy your 2 year old iPhone 16 Plus 128 GB for 362.96 which is well bellow market value. And if they don't want to buy it (because its not in good condition), they don't have to and you're still up for paying off the device in full. You would be much better off paying out the device and selling it. Even via MobileMonster or similar you will come out ahead of this deal.

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