New Apple subscription plans launched with guaranteed trade-in

Fintech company WeLab has launched a subscription program with Apple authorized resellers for purchasing Apple products with a guaranteed trade-in option upon the end of term. 

Unlike traditional installment plans, this program offers low monthly payments by deducting the trade-in value of up-to-30-percent of the original price in advance, before calculating the actual payment.

Program participants will be able to buy the latest 128GB storage iPhone 13 by paying as low as HK$204 a month for 24 months, or a 256GB storage MacBook Air at HK$152 per month for 36 months.

The trade-in value of these Apple products can be carried forward for future Apple upgrades, so long as they remain customers of the program, said Simon Loong, the founder, and chief executive of WeLab.

Customers with good credit scores can enjoy as low as zero interest in the monthly payments and no hidden fees and other upfront costs will be included in the program, Loong added.

Fortress is the first retail partner to offer this program in its over 70 physical branches as well as the online store in Hong Kong.

At the end of the subscription period, customers can either renew the program and upgrade to a newer model by simply trading in the device; keep their devices by paying off the trade-in value and the last monthly payment amount, or simply return their devices to the participating authorized Apple resellers with the trade-in value, WeLab said.