Any Regrets About Upgrade Program?

[aristobrat]

Its still too early, it is most likely that this is just introductory pricing and the next iphone will be significantly more expensive per month, trapping people into their current phones. Remember a new phone = new lease = different price per month, wait to see what happens when it comes time to upgrade.

If you looked at Tmobile's lease prices on phones they werent having a sale on like the Galaxy it was absurdly expensive per month compared to the iPhone, I have a feeling that will happen with the Apple leasing program sooner rather than later.

I know T-Mobile and Sprint have honest-to-god leasing options, but AT&T, Verizon's and Apple's programs are not leasing programs, and there is no introductory pricing with them.

The monthly payment is the FULL PRICE of the phone divided into monthly payments (24 months with Apple and Verizon, AT&T gives you various options), with the option to get a new iPhone before you've paid off what you owe on the old one (by trading it in). Totally an option. You keep making your monthly payments and you keep the phone, and you don't pay a penny more than the original full price. It's 0% APR financing.

 

[Mlrollin91]

Its still too early, it is most likely that this is just introductory pricing and the next iphone will be significantly more expensive per month, trapping people into their current phones. Remember a new phone = new lease = new price per month, wait to see what happens when it comes time to upgrade.

If you looked at Tmobile's lease prices on phones they werent having a sale on like the Galaxy it was absurdly expensive per month compared to the iPhone, I have a feeling that will happen with the Apple leasing program sooner rather than later.

So you are saying, Apple is going to raise the price of the iPhone? Not a chance. Especially now that all 2 year subsidies are done with. There is no way Apple is going to raise the price of the devices.

 

[aristobrat]

That's true, but selling a year old iPhone can usually bring in more than 50% of the original purchase price. I've done it every year and have always gotten about 80% of the original purchase price.

There is always the risk that your return won't be what you hope, but I have had excellent luck in selling my phones for a solid return. Last year, well last Sept, I sold my 128GB mint 6 I had since launch day for $720 two weeks prior to the new release. I only had to pay $180 out of pocket for my 6S.

I get that selling an iPhone before the new model comes out gets your more money, but I don't keep an old phone to use during the multiple weeks gap (between when you sold your phone early and the next iPhone launches).

Profets, do you sell yours early too?

 

[Newtons Apple]

So you are saying, Apple is going to raise the price of the iPhone? Not a chance. Especially now that all 2 year subsidies are done with. There is no way Apple is going to raise the price of the devices.

Would not be so sure as the price has remained the same for like 4 years and I would think there is a possibility for a price increase for sure.

 

[Mlrollin91]

I get that selling an iPhone before the new model comes out gets your more money, but I don't keep an old phone to use during the multiple weeks gap (between when you sold your phone early and the next iPhone launches).

Profets, do you sell yours early too?

I typically sell mine the week after the launch of the new device. For the most part I get about 60% back. I always get the middle device, which is $750. I sold my iPhone 6 for $550 a week after I got my 6s, and I sold my 5s for $500 2 weeks after I got my 6. So I am spending $200-250 a year on iPhones.

This time around I went with the iPhone Upgrade Program, so yes, I am spending closer to $400 for the year, but its cheaper than Next, its unlocked and I get AppleCare+. But I will most likely pay off my device early, which will be about $450, and turn around and sell it with AppleCare+ for about $600. So really, the year only cost me about $250.

Would not be so sure as the price has remained the same for like 4 years and I would think there is a possibility for sure.

iPhones are the most expensive phone on the market. A 6s+ 128GB is $949. There is no way they are going to break the $1000 mark. So okay, maybe a $50 increase in the next few years. But with 2 year contracts done, people are not going to fork over $1000 for a device a phone. I'm confident prices will remain exactly the same for the iPhone 7. With the Apple Upgrade Program, that is $47 a month/ $564 a year.

 

[maflynn]

This time around I went with the iPhone Upgrade Program, so yes, I am spending closer to $400 for the year, but its cheaper than Next, its unlocked and I get AppleCare+. But I will most likely pay off my device early, which will be about $450, and turn around and sell it with AppleCare+ for about $600. So really, the year only cost me about $250.

Why use the apple lease program if you're going to pay it off within a year, and not trade it in? Seems like it would be easier just to buy the phone outright.

 

[profets]

I get that selling an iPhone before the new model comes out gets your more money, but I don't keep an old phone to use during the multiple weeks gap (between when you sold your phone early and the next iPhone launches).

Profets, do you sell yours early too?

I've done this literally every year since the original iPhone. At first I had spare phones to use for the week in between selling and buying, but for the several past years I sell after I get the new one. I don't worry about it as much. It all comes down to how much convenience you want. Obviously there's time and effort involved when selling privately (on kijiji for example), compared to selling through something like Gazelle, or just joining the trade in program with Apple and truly not having to think or worry about it at all. I can appreciate doing either way.
[doublepost=1454090419][/doublepost]

I typically sell mine the week after the launch of the new device. For the most part I get about 60% back. I always get the middle device, which is $750. I sold my iPhone 6 for $550 a week after I got my 6s, and I sold my 5s for $500 2 weeks after I got my 6. So I am spending $200-250 a year on iPhones.

This time around I went with the iPhone Upgrade Program, so yes, I am spending closer to $400 for the year, but its cheaper than Next, its unlocked and I get AppleCare+. But I will most likely pay off my device early, which will be about $450, and turn around and sell it with AppleCare+ for about $600. So really, the year only cost me about $250.



iPhones are the most expensive phone on the market. A 6s+ 128GB is $949. There is no way they are going to break the $1000 mark. So okay, maybe a $50 increase in the next few years. But with 2 year contracts done, people are not going to fork over $1000 for a device a phone. I'm confident prices will remain exactly the same for the iPhone 7. With the Apple Upgrade Program, that is $47 a month/ $564 a year.

This is what it was working out to roughly for me as well once factoring in taxes.

 

[Mlrollin91]

Why use the apple lease program if you're going to pay it off within a year, and not trade it in? Seems like it would be easier just to buy the phone outright.

Because that requires me to spend $850 (w/tax) up front. Why do that when I can take out a 0% interest loan? I rather keep an extra $800 cash on hand incase of emergency. Additionally, it gives me the option to trade in if I want the convenience. Now if I was paying interest, I would obviously pay up front. but its not costing me anything to pay monthly, so why not?


Also, Going back to iPhone prices. I honestly believe in the near future we could see a decrease in iPhone price, not an increase. Reason being, the market is cooling off and its Apple's biggest money maker. If you reduce the price, you may increase volume, which in turn would mean more profit for Apple in the long run.

 

[melman101]

My question is, do we absolutely know for 100% certainty that they are going to do another hard credit pull when you renew the loan?

Mel

 

[Flow39]

Because that requires me to spend $850 (w/tax) up front. Why do that when I can take out a 0% interest loan? I rather keep an extra $800 cash on hand incase of emergency. Additionally, it gives me the option to trade in if I want the convenience. Now if I was paying interest, I would obviously pay up front. but its not costing me anything to pay monthly, so why not?


Also, Going back to iPhone prices. I honestly believe in the near future we could see a decrease in iPhone price, not an increase. Reason being, the market is cooling off and its Apple's biggest money maker. If you reduce the price, you may increase volume, which in turn would mean more profit for Apple in the long run.

A price drop would be huge for Apple. Consumers would think "Wow, Apple lowered the price, so now what's the reason to buy a Galaxy S6 over an iPhone since the iPhone is $50 cheaper?" I could see that really being big in the consumer's mind.

 

[AZhappyjack]

Also, Going back to iPhone prices. I honestly believe in the near future we could see a decrease in iPhone price, not an increase. Reason being, the market is cooling off and its Apple's biggest money maker. If you reduce the price, you may increase volume, which in turn would mean more profit for Apple in the long run.

What about the rumored iPhone 7 Plus Pro? How would that affect price and your decision on how to buy?

http://www.cultofmac.com/409609/is-...-7-plus-catch-the-discussion-on-the-cultcast/

 

[aristobrat]

My question is, do we absolutely know for 100% certainty that they are going to do another hard credit pull when you renew the loan?

I haven't seen anything official from Apple or Citizens One.

A price drop would be huge for Apple. Consumers would think "Wow, Apple lowered the price, so now what's the reason to buy a Galaxy S6 over an iPhone since the iPhone is $50 cheaper?" I could see that really being big in the consumer's mind.

Maybe?

I have a feeling that the carriers (and Apple) will really be pushing these monthly payment plans, and most consumers will now just focus in on the monthly price (like how they focused on the $199 price before).

A $50 price-drop on the phone will lower the monthly payment from $2.08-$2.77/month.

I'm not sure folks will get excited about that. But who knows. I'm sure the folks that buy their iPhones out-right would like that though!

If anything, these plans will now let folks jump up to the next model (normally an extra $100 out-of-pocket up front on a 2-year contract, on top of the $199 or whatever they paid) for "only" $4-$5 more a month. So I kind of think folks will be buying even more expensive models, since it doesn't bump the monthly cost up a lot.

 

[SisterBlue22]

No regrets here, and I'm already excited about the next one.

 

[lordofthereef]

Surprised Apple Care being automatically tacked on hasn't been mentioned. Or is everyone ok with that?

 

[melman101]

Surprised Apple Care being automatically tacked on hasn't been mentioned. Or is everyone ok with that?

I bought it every year anyhow

 

[maxsix]

It's a non-starter for me. I buy my phones outright with the proceeds from selling my older phone. I cannot justify "renting" a phone for all of eternity.

You're uninformed.

Both you and the buyer that uses a zero interest payment plan through their carrier are paying the exact same price. Both Verizon and AT&T as an example offer retail price without markup or interest. You pay for your phone, then sell it, they can do the exact same thing.

Is as simple as that

 

[AZhappyjack]

You're uninformed.

Both you and the buyer that uses a zero interest payment plan through their carrier are paying the exact same price. Both Verizon and AT&T as an example offer retail price without markup or interest. You pay for your phone, then sell it, they can do the exact same thing.

Is as simple as that

I pay for my devices up front. Sure, I could use the "zero interest loans" to finance the device, but I am free to do with it as I please on day 1. There are no strings that tie me to the carrier or raise any doubt or concern in the mind of the person to whom I sell it. And if I want to upgrade, I can. No need to concern myself with trading it back in to get the next newest device. And if I choose, I can pass it down to a family member without conditions (unless I choose to impose them on the beneficiary).

I can afford to pay full price up front, so I do. It's not being uninformed. It's taking charge of my purchase decision on my terms. And it allows me to manage my voice/text/data plan and device purchases separately, which I believe is a sound choice.

It may not work for you, so feel free to choose a different path to the same device. It's as simple as that.

 

[melman101]

I can afford to pay full price up front, so I do. It's not being uninformed. It's taking charge of my purchase decision on my terms. And it allows me to manage my voice/text/data plan and device purchases separately, which I believe is a sound choice.

Just FYI, you are not locked to any carrier with the Apple loan. It's as if you are buying it outright however, it's with a 0% loan.

 

[Flow39]

If anyone could fill me in on this, that would be awesome. I was wondering if you could do the iPhone upgrade program while on T-Mobile's $30 per month prepaid 5 GB/Unlimited Text/100 Talk plan.

 

[lordofthereef]

I bought it every year anyhow

Fair enough. I avoid it like the plague and have already saved enough over the years (buying 2-3 devices over a year) to pay for a couple out of pocket full replacements. I just don't see the value there.
[doublepost=1454119619][/doublepost]

If anyone could fill me in on this, that would be awesome. I was wondering if you could do the iPhone upgrade program while on T-Mobile's $30 per month prepaid 5 GB/Unlimited Text/100 Talk plan.

You can do this with any plan that is compatible with an iPhone. The upgrade program "doesn't care" what plan you're on or with who. You're getting a 0% loan on an unlocked iPhone.
[doublepost=1454119846][/doublepost]

I pay for my devices up front. Sure, I could use the "zero interest loans" to finance the device, but I am free to do with it as I please on day 1. There are no strings that tie me to the carrier or raise any doubt or concern in the mind of the person to whom I sell it. And if I want to upgrade, I can. No need to concern myself with trading it back in to get the next newest device. And if I choose, I can pass it down to a family member without conditions (unless I choose to impose them on the beneficiary).

I can afford to pay full price up front, so I do. It's not being uninformed. It's taking charge of my purchase decision on my terms. And it allows me to manage my voice/text/data plan and device purchases separately, which I believe is a sound choice.

It may not work for you, so feel free to choose a different path to the same device. It's as simple as that.

Uninformed may have been a strong choice of words. What is 100% fact is that neither scenario costs any more or less (assuming you buy apple care) or gives the buyer more or less freedom. It's just a different way from paying the exact same amount for the exact same product.

The decision to buy outright is always yours, but this is just the benefit and difference of personal preference. You are not tied to any carrier at any time with this program. You can start on ATT and three months in decide to go to Verizon. You set up with Verizon and you're set (as you would do with your phone you bought outright). You don't need to inform Apple or the lender of anything. You just carry on with your day. And if you want to upgrade, you can. Just lay the residual difference (that you would have done had you bought it outright anyway) and upgrade away.

I'm not sure if you one and "zero percent loan" sarcastically, but that is absolutely what this program is. No strings. You get 24 months to pay off your unlocked iPhone but also have the choice to trade it in at the 12 month mark and start fresh with a new device.

 

[Paco II]

I am someone that has always paid full price, bought apple care plus, and upgrade every two years. I am ecstatic at the chance to continue this process but be able to spread those payments out over two years interest free, with the exact same result in the end.