I am upgrading from (Product)Red iPhone 7 Plus. As long as you managed to pay first 6 month, you can pay the next 6 month worth of payment upfront and go for an upgrade. This is my second upgrade of the year, since I joined iUP last Sept.
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Apple Allowing iPhone Upgrade Program Customers to Get a 'Head Start' on iPhone X Upgrade
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I am upgrading from (Product)Red iPhone 7 Plus. As long as you managed to pay first 6 month, you can pay the next 6 month worth of payment upfront and go for an upgrade. This is my second upgrade of the year, since I joined iUP last Sept.
I think you're exactly right here, thanks!!!
From the Upgrade Program terms & conditions page (https://www.apple.com/legal/sales-support/iphoneupgrade_us/):
Prompt Return of Financed iPhone. If you exercise your Upgrade Option and do not return your original Financed iPhone as directed by Apple within 14 days, your original Installment Loan will be reinstated and you will be responsible for any missed and/or remaining installment payments, as well as any installment payments under your New Installment Loan.
You would just start a new IUP which is a new loan. There isn’t an option to have more than one phone on a single IUP plan. If that makes sense.
Yup, but that's the OCD part of wanting to knock it off the list before I get up at 3AM on the 27th. No part of me thinks I have advantage.
No, You have to pay off the first one in full and then apply for a brand new loan.
I just got off the phone with apple support as well, and she was told there's an update to the apple store app that hasn't happened yet...I believe she is referring to an update of iPhone upgrade program refresh, not the app itself...
Not saying I disagree with you, but unless you work for Apple and have intimate knowledge of the processes in place... I wouldn’t assume a thing. First at everything, like most things in life... is best.
An iPhone is not a quickly depreciating purchase in relation to similar types of items. You should be able to get well more than half of what you paid 1 year in. The iphone 7 came out at 750 for the 128GB, and is now 550 for the same model but used 1 year later. (Mind you this doesn't account for tax on the original price)
If you want to lease go ahead and lease, but its not for financial reasons if you are upgrading every year.
I think what you have stated is true except I do think it gives a small leg up even during the ordering process on 10.27. I think this actually adds the phones to the checkout cart so on 10.27 all the IUP customer has to do is Apple Pay their cart and bam, ordered. I’m sure some data needs to be entered even for a cash customer that could put them further back in the line for wave 1 shipments. I could be totally wrong however.
This thread is hilarious. 0% interest is the ONLY time you should make monthly payments on this type of purchase, be it from IUP, carrier financing, or 0% interest CC offer.
The only place where is makes more sense to go a different route is if you have a Rewards CC where you get points/miles towards a benefit, such as hotel stays or frequent flyer miles. Then use that card, collect your points, pay off the card before the end of the month (if there’s interest), and then thank Apple for contributing to your next free plane ticket/hotel stay.
It’s a shame that people shame others for their financial decisions, but then give bad information on top of it. Just stop and mind your own wallets!
The only place where is makes more sense to go a different route is if you have a Rewards CC where you get points/miles towards a benefit, such as hotel stays or frequent flyer miles. Then use that card, collect your points, pay off the card before the end of the month (if there’s interest), and then thank Apple for contributing to your next free plane ticket/hotel stay.
It’s a shame that people shame others for their financial decisions, but then give bad information on top of it. Just stop and mind your own wallets!
That makes sense. I saw an interview with the retail head (Ahernt?) who said that as soon as they open the preorders for iPhones, those with the purchase all queued up only have to tap one button at midnight to make their purchase. Being able to have your IUP purchase to that one-tap state will certainly level the playing field. I was stressing about having to go through the IUP process at 3AM as all the Xs disappear and even considered buying one outright simultaneously in case the IUP is a clusterfu@k.
I think the meaning of the IUP is lost on some people.
Its called the "iPhone Upgrade Program" - not the "BAIWISYCKIFP" (Buy An iPhone With Installments So You Can Keep It Forever Program).
Of course you can choose to pay it off and keep it but the point behind the IUP is "UPGRADE", and to upgrade annually.
Effectively for half the price of buying a new phone each year, you get to trade up to the latest model via Apple, with Apple Care added.
At least that is how I approach it.
I don't look at phones as 'investments' or try to scenario-ize how much I'm going to be able to get for it in a year if I want to upgrade, along with the chore trying to sell it and then the hassle of swapping phones over etc.
Paying a monthly fee (after the upfront lump sum for taxes) for the knowledge I can upgrade easily, the assurance of Apple Care and the advantage of not having to deal with the foibles of a phone carrier to get the device is totally worth it to me.
Its called the "iPhone Upgrade Program" - not the "BAIWISYCKIFP" (Buy An iPhone With Installments So You Can Keep It Forever Program).
Of course you can choose to pay it off and keep it but the point behind the IUP is "UPGRADE", and to upgrade annually.
Effectively for half the price of buying a new phone each year, you get to trade up to the latest model via Apple, with Apple Care added.
At least that is how I approach it.
I don't look at phones as 'investments' or try to scenario-ize how much I'm going to be able to get for it in a year if I want to upgrade, along with the chore trying to sell it and then the hassle of swapping phones over etc.
Paying a monthly fee (after the upfront lump sum for taxes) for the knowledge I can upgrade easily, the assurance of Apple Care and the advantage of not having to deal with the foibles of a phone carrier to get the device is totally worth it to me.
Such statements are almost always false. There are many kinds of situations and people, and what makes the most sense for them...is that choice that is best for them.
I just had a chat with and Apple sales person on their site, and if you are already part of the program it is no different. If you aren't part of it, that's the "in store enrollments only" part.
[doublepost=1508775372][/doublepost]Maybe? But most people have never bought their phones upfront. They would get them through their carrier and then pay indirectly through their coverage each month. With the iPhone upgrade program, there is no interest. So even if you have the money, you're better off with the payments as you don't have to pay for it upfront. After inflation and interest if you have your own money in an interest bearing account, you end up ahead. I don't really see a downside to this.
yeah that sorta sounds like my own approach, others seem to have different approaches
I’m with ya. Nothing to do with guaranteeing or locking in a phone for launch day. But everything to do with just making pre-ordering a little quicker 3am Friday.
Exactly what I am doing. The approval of loan/bank and carrier at 2 AM CDT in midwest can sometimes not go for hours good to have this all done and just the final hit that button the app. And then we see how the wheel rolls for us LOL