How to finance a Samsung Galaxy in Canada

The Samsung Galaxy is one of the world’s most popular smartphones, but the latest models of this flagship smartphone certainly don’t come cheap. The good news is that, if you can’t cover the purchase price upfront, there are several Samsung Galaxy financing options in Canada—even if your credit is less-than-perfect.

Keep reading to compare five Samsung Galaxy financing solutions, how they work and their pros and cons.

How can I finance a Samsung Galaxy in Canada?

1. Samsung financing in Canada

Samsung financing is the first option to check out when buying a new Galaxy. Financing is provided by Affirm—you can check if you prequalify without affecting your credit score and then select Affirm at checkout.

0% financing is available on approved credit, but APRs range from 0% to 32% over a term of 12 to 36 months. You can set up AutoPay to automatically make monthly payments using your preferred method, while you also have the option of paying off your outstanding balance early without any penalty.

Affirm also doesn’t charge any account opening fees, late fees or admin fees.

Pros of buying a Samsung Galaxy with Samsung financing

• Convenient financing option
• Pay for your Samsung Galaxy monthly
• 0% financing on approved credit
• No fees to worry about

What to watch out for

• APR could be as high as 32%
• You may find a cheaper purchase price by shopping elsewhere

2. Personal loan for Samsung Galaxy financing in Canada

Banks, credit unions and online lenders offer personal loans that allow you to use the money you borrow for any purpose. Personal loans offer longer repayment terms than other financing options, with most lenders offering terms ranging from 6 to 60 months.

But you will need to pay interest on the money you borrow, with rates ranging from 6.99% to 35%, depending on your credit score and income.

Pros of buying a Samsung Galaxy with a personal loan

• A longer loan term means a smaller monthly payment
• Bad credit financing available
• Pay for your smartphone in installments
• Lots of lenders to choose from so you can shop around for the best rates

What to watch out for

• 0% financing not available
• A longer loan term means you pay more interest in the long run
• High interest rates for bad credit
• Watch out for loan fees

Compare personal loans for Samsung Galaxy financing in Canada

1 - 5 of 5

Product CAFPL	Finder Score	APR Range	Loan Amount	Loan Term	Requirements	Broker Compliance
LoanConnect Personal Loan	Finder score 8.5 Great	8.99% - 35.00%	$500 - $60,000	3 - 120 months	Requirements: min. credit score 300	LoanConnect is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	Go to siteView details Compare	loading Fetching your data...
Spring Financial Personal Loan	Finder score 8 Great	9.99% - 35.00%	$500 - $35,000	6 - 60 months	Requirements: min. income $2,000/month, 3+ months employed, min. credit score 550		Go to siteView details Compare	loading Fetching your data...
Loans Canada Personal Loan	Finder score 8.5 Great	9.90% - 35.00%	$300 - $50,000	4 - 60 months	Requirements: min. credit score 300	Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.	Go to siteView details Compare	loading Fetching your data...
Fat Cat Loans Personal Loan	Finder score 7.5 Great	6.99% - 35.00%	$300 - $50,000	3 - 84 months	Requirements: min. income $1,000/month, min. credit score 300		Go to siteView details Compare	loading Fetching your data...
goPeer Personal Loan	Finder score 8 Great	8.99% - 34.99%	$1,000 - $35,000	36 or 60 months	Requirements: min. income $35,000/year, min. credit score 700		Go to siteView details Compare	loading Fetching your data...

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Finder Score for personal loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 110+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

3. Carrier Samsung Galaxy financing in Canada

Your next option is to get Samsung Galaxy financing from a cell phone carrier. Here’s how it works: you split the cost of your new phone into 24 equal monthly payments, while you also sign a 24-month phone contract. Each monthly payment is made up of a payment towards your Samsung Galaxy and a payment towards your phone plan.

There’s 0% interest to pay and no down payment in many cases, but some high-end phones will require you to make a down payment.

Pros of buying a Samsung Galaxy with carrier financing

• No interest charges
• Spread the Galaxy purchase price over 24 months
• Available from a wide range of telecoms

What to watch out for

• You’ll need to sign up for a two-year contract
• You may need to pay a one-off setup fee
• You may not qualify if you have bad credit

Typical cell phone financing plans from popular Canadian carriers

To help you compare your Samsung Galaxy financing options, we’ve put together a rundown of financing plans from some of Canada’s biggest telcos. Please note that offers may vary depending on the Galaxy model you select, and they’re typically only available when you sign up for a monthly or yearly phone plan with the carrier.

4. Credit card for Samsung Galaxy financing in Canada

The next option is to pay for your new Samsung Galaxy with a credit card. This is a convenient option and means you don’t have to apply for any new financing, but the downside is that credit card purchase interest rates are often around 20%. So, if you don’t pay off your credit card balance in the interest-free period, you may pay a higher rate on your purchase than with a personal loan.

But if you have a low-interest credit card with a rate in the 9 – 15% range, paying with your card could be a viable option.

Pros of buying a Samsung Galaxy with a credit card

• Quick and convenient financing option
• No need to apply for new financing
• You can earn a big stack of credit card reward points or cash back
• You don’t need to sign a contract
• No interest if you pay off your credit card balance during the interest-free period

What to watch out for

• Credit card interest rates are higher than some other financing options
• A high-end model might use up a big chunk of your credit limit—you’ll have less funds available for emergency expenses
• Taking on too much debt

5. Retailer financing

Another convenient Samsung Galaxy financing option is to apply for financing at the point of purchase. Major retailers like Best Buy and Walmart offer financing options for large purchases like a new smartphone. Some providers offer payment plans that allow you to spread the cost of a Galaxy into small monthly installments, while others offer store credit cards so you can earn cash back rewards when you complete your purchase.

0% financing is available in some cases, but it’s worth noting that a set-up or administrative fee may apply.

Pros of buying a Samsung Galaxy with retailer financing

• 0% financing may be available if you have strong credit
• Widely available at major retailers
• Convenient financing option at point of purchase
• Earn rewards if you use a store credit card

What to watch out for

• High rates for bad credit
• Store credit cards tend to have higher rates than other financing options
• Watch out for fees

How in-store Samsung Galaxy financing in Canada works

When you’re comparing in-store financing offers, make sure to read the terms and conditions carefully and check for any fees that may apply.

How much does a Samsung Galaxy cost to finance in Canada?

Latest-model Samsung Galaxy smartphones range in price from $1,099.99 to $3,044.99, depending on the model you choose and its storage space. Check the table below for details of how much you can expect to pay.

Prices verified in December 2024

How to buy a Samsung Galaxy in Canada using Samsung Trade-In

Samsung Trade-In allows you to trade in your current mobile device to get a discount off your new Samsung purchase. You can trade in Galaxy Watches, Tablets and Buds as well as some non-Samsung devices.

Here’s what you need to do to trade in your current device.

1. Visit the Trade-In section of the Samsung Canada website.
2. Specify the type of device you want to trade in.
3. Select the new Galaxy device you want to purchase.
4. Select your current device from the list to see its potential trade-in value.
5. If you’re happy with the price offered, select Buy Now.
6. Proceed to purchase your new Samsung Galaxy.
7. When your new phone is shipped to you, you’ll also be sent an email with a prepaid shipping label and details on how to trade in your old device.
8. Once Samsung has received your old device, its final trade-in value will be determined.

3 tips for financing a Samsung Galaxy

• Trade in your current phone. Lower the price of a new Samsung Galaxy by trading in your old device. Depending on the device you’re trading in, you could save up to $690 off the sticker price of a new phone.
• Check your contract. If you’re currently signed up to a phone plan, check your current contract to find out if you’ll need to pay a fee to break the contract.
• Choose an older model. The latest versions of flagship smartphones come with eye-watering price tags. Choosing the previous model can save you hundreds of dollars, but you’ll still get a modern smartphone with a host of high-end features.

Bottom line

There are multiple options to compare if you’re searching for Samsung Galaxy financing in Canada. No-interest financing is available on approved credit from some providers, but you’ll need to check the terms and conditions and watch out for any admin fees. Check out our detailed guide to cell phone financing to learn how financing works and how to compare lenders.

Frequently asked questions about Samsung Galaxy financing

• Can you get Samsung financing with bad credit?

  You may be able to qualify for Samsung financing with Affirm if you have less-than-perfect credit, but it's highly unlikely that you'll be able to qualify for 0% financing. APR rates on Samsung financing with Affirm range from 0% to 32%.

• Can you get 0% Samsung financing?

  Yes, 0% Samsung financing is available from Samsung via Affirm, but the rate you get is based on your creditworthiness. Affirm's rates range from 0% to 32%.

• Can I pay for a Samsung Galaxy in installments?

  Yes, you can pay for a Samsung Galaxy in installments using multiple financing options. Installment payments are available with Samsung financing, retailer financing and telecom financing. Your purchase can also be split into installment repayments if you buy your phone with a credit card or personal loan.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio