You only turn in your phone when you upgrade. Since you’re not on the program yet, you don’t turn in your phone.
I did it last year when I got my 7 Plus and have made 12 payments. I mostly like it but it ya drawbacks.
1) the website for the loan is terrible. I’ve had to change my password so many times.
2) with the way phone releases now seem staggered, your 12 payments may not line up to the next release. Which equals a bad value potentially. Payoff for my phone is $500 right now. But if I wanted an X, I’d have to keep paying payments, and depending on how long the shipping gets delayed, I may be turning in a phone that is almost nearly paid off. Why give them a phone that I’ve paid 60-70% off at that point? Then who knows how next years release dates will work out... I may be behind!
3) credit checks are hard and lingering.
Honestly, if I could do it all over, I’d get a Barclays Card with 0% interest on Apple purchases over a certain amount and just make payments each month, sell my device when I’m ready to upgrade and pay off the balance with that money. Then start over.
