Motorola X financing: Phone layaway service launches

Motorola has launched a new "Motorola money" campaign for customers who are tight on cash, but still want to buy the Google-owned company's products.

You can now open up a line of credit with Motorola to put $0 down on purchases while seeing zero interest if paid off within 6, 12, or 18 months. Motorola's high-end Moto X is priced at $549 stateside, but if you go the financing route you won't have to have all the cash up front. The financing options extend beyond the Moto X too, for almost all of the products Motorola makes. 

Comenity Capital Bank has partnered with Motorola in the US for the initiative. But don't think you'll be able to get off scot free if paying on time isn't your thing a whopping 28.99 per cent APR is included. Obviously this is like opening a credit card, so Comenity Capital Bank will have to approve you before the process begins - and that means a credit check. 

Apple has  similar financing available for its gadgets, giving customers "a more powerful system for only a little more per month". The company says: "Pay for your Apple products while you use them." As with, Motorola, you also have to apply and be approved. 

It's an interesting tactic that might work for some, but for the gadget-compulsive buyer we're not so sure.