Question about down payment on FREE McLaren 5g promo vs. "iPhone 11 On Us" promo
Hello there! I just read the details for the FREE McLaren OnePlus promotion. That is a great deal if you have a qualifying trade!
Anyway - part of the details state "You’ll receive a trade-in credit based on the fair market value of your trade-in device and the balance of the promotional value via monthly bill credits. If you trade in a store, you’ll receive your trade-in credit instantly." Then, they say " Complete your purchase and make a down payment (if applicable -- or apply your in-store trade-in credit toward your down payment).".
I am curious if that applies to other promos - specifically the "iPhone 11 On Us" promotion. Because - my wife wants the 11 Pro Max 256GB variant, and that requires a $500 down payment. Ouch. So - would this kind of action apply to the Apple promo?
Posted Dec 4, 2019, 3:28 PM UTC
I'm pretty sure it does. They take the trade in value and that's what they give you towards your downpayment. So if the down payment is 500 and the trade in credit is 100 bucks then you'll owe 400 bucks.
Really cause they're hell-bent on making me pay the down payment instead of adding my trade in towards it, people really want their commission don't they
you also have to pay taxes, and the only part of the promo that can be applied to the down payment is the Fair Market Value. if the phone runs $1250 full price with a $500 down payment, you're also paying sales tax on that $1250 out the door. if FMV is $100, I could easily see you still paying over $500 out the door after trade in because of taxes. Commission isn't based at all on what you pay upfront.