Exclusive : Get The iPhone 4 From £16.10 Per Month

Want to get an iPhone but can't afford to fork out a whopping £499 outright for it? Well, there's a sneaky way of actually getting your favourite phone for as little as £16.10 per month albeit over a three year period.

You end up paying £579.65 over the life of the loan dna the interest being paid is £80.65 for three years, which is a mere £2.35 per month, hardly back breaking.

Yesterday, during our 7-hour venture to buy the iPhone 4, we got the confirmation that you could indeed buy your iPhone using Apple Financial Services, one which is provided by Barclays Partner Finance and is a wholly owned subsidiary of Barclays bank PLC.

The default repayment period is three years and you get the device immediately. We spoke to someone over the phone and were assured that users wouldn't need to hand over a deposit.

An Apple employee also confirmed that the 16GB model would cost £16.10 per month while the 32GB would hike the price to £19.28 per month, still a great price to pay for the phone.

Our interlocutor told us that the APR is typically at 15.9 per cent (as per Apple's Finance Your Mac page) although the monthly payment indicates a lower APR of 10 per cent.

You can settle your loan agreement at any time. But you must first write to Barclay's Partner Finance and they will calculate and send the settlement figure. The settlement figure and date are calculated in line with the Consumer Credit Act.