iPhone Upgrade Program gets an upgrade June 02 2016, 0 Comments
Apple have, for years, allowed iPhone users to trade-in their current iPhone and get the latest model at a cheaper cost. However, they have recently switched to the iPhone Upgrade Program which is a 2-year contract with Apple and only requires monthly payments instead of a lump sum payment.
How it works
For example, the iPhone 6s costs $649 to buy outright, but the iPhone Upgrade Program allows me to pay only $32.41 every month for 24 months. This is a far more lucrative offer for anyone, especially considering the huge price tag on iPhones.
How this benefits buyers
Access to better iPhones
Because you can extend your paying term, it is now easier to purchase an iPhone with a much larger capacity. If you look at the iPhone 6s, for example, the 16GB version costs $649 while the 128GB version is $849. The extra $200 may be a lot at once, but the load is lessened when stretched over 24 months and you can now enjoy a better iPhone.
Every year a new iPhone flagship is released, and every year, you can switch your current iPhone for the latest model without an increase in monthly payments. You can, therefore, be up to date with the latest devices and features without undergoing the extra cost of a new device and then having to decide what to do with the old one.
Unlike the past when you could not switch your mobile carrier until the contract was over, the iPhone Upgrade Program lets you switch carriers after 1 year. This offers users the chance to jump at new offers that are more appealing instead of suffering in silence.
Downsides to the program
Despite looking like a deal for the ages, you’re actually paying more for the same devices. A 16GB version iPhone 6s costs $649, but make use of the iPhone Upgrade Program and you will have to fork out $32.41 every month. At the end of the contract, you will have paid almost 20% more for the iPhone than if you had just bought it on the spot.
The program is only available in the US, and even then, can only be used for the iPhone 6s and 6s Plus. That leaves out older devices and even the iPhone SE which was released only 3 months ago.
Apple have now come up with a Trade Up with Installments plan, which will allow you to trade in your smartphone for the latest iPhone. Remarkably, this program doesn’t accept iPhones only, instead, you can even trade-in your Android device and get the latest iPhone. This is a very welcome move for Apple, and it is bound to make some android enthusiasts to start thinking about making the move.