Apple might soon offer you a new option for buying some of its most popular products.
The tech giant is in talks with Goldman Sachs about launching a loan program with the investment bank, The Wall Street Journal is reporting, citing people who claim to have knowledge of its plans. The Journal's sources acknowledged, however, that the talks could still fall apart and there's no way to know right now when the program could launch.
According to the report, the program would allow you to buy everything from iPhones to Macs at the Apple Store but not plunk down a credit card to make a purchase. Instead, you'd be able to apply for a loan through Goldman Sachs and pay the bank back for the purchase. The companies believe it could benefit customers: credit cards often have exceedingly high interest rates. The loan program, however, would come with lower interest rates and offer lower payments.
Apple has long offered a variety of ways to buy its products. In addition to paying with cash or credit card, you can also apply for a Barclaycard Visa through the company's store. Doing so is similar to a loan, since you could delay needing to pay for the purchase and use a bank to finance it, but you're still applying for a credit card that carries high interest.
According to Apple's online store, the purchase APR rate ranges from 15.24 percent to 28.24 percent, depending on your credit rating. It's also a variable rate that can go up. On the iPhone, Apple offers the option to pay in full or get into an installment agreement and pay over time.
The Journal report didn't say what interest rate Goldman Sachs would offer to Apple customers. But the company currently has a Marcus loan it offers to consumers that carries a 12 percent interest rate — notably cheaper than credit card rates.
Looking ahead, it's unclear when Apple and Goldman Sachs could sign a deal. But soon enough, you might have another option to buy some of Apple's high-priced goodies.