Yes it is, because of the way they have structured the program. This is not like a car lease.
With a car lease, the total of payments plus residual is more than the cash purchase price. That is how the financing company makes money. But in the case of Apple, the total of the lease payments plus the residual is exactly equal to the cash price.
Apple is eating the loss on the financing, for some reason. Probably what is happening is their lease provider is being given a discount on the price, so they keep the difference. Apple probably believes they will sell more phones this way.
But this is great for you the buyer, because it means instead of spending your cash now, you spend it over three years. And since the money has less buying power after three years because of inflation, it's technically cheaper for you to spread out the payments.
Especially if you put the rest of the money in the bank and earn interest on it!
With a car lease, the total of payments plus residual is more than the cash purchase price. That is how the financing company makes money. But in the case of Apple, the total of the lease payments plus the residual is exactly equal to the cash price.
Apple is eating the loss on the financing, for some reason. Probably what is happening is their lease provider is being given a discount on the price, so they keep the difference. Apple probably believes they will sell more phones this way.
But this is great for you the buyer, because it means instead of spending your cash now, you spend it over three years. And since the money has less buying power after three years because of inflation, it's technically cheaper for you to spread out the payments.
Especially if you put the rest of the money in the bank and earn interest on it!