Apple Announces New 'Trade Up With Installments' 24-Month iPhone Payment Plan

[MacRumors]

Apple today announced a "Trade Up With Installments" payment plan that will let users trade in an old iPhone, Android, or Windows Phone and put the value of that device towards a new 24-month iPhone installment plan (via CNET). Available only in Apple Stores within the United States, the new program is a combination of Apple's classic reuse and recycle program and the newer 12-month iPhone Upgrade Program that launched alongside the iPhone 6s and iPhone 6s Plus last year.

According to Apple, Trade Up With Installments is "really geared toward people who have older generation iPhones." As with most trade-in programs, the older model of the phone that is traded in, the lesser its value. With Apple's new initiative, a new factor is thrown in depending on the model of iPhone that users are looking to pay off on the 24-month installment plan. So, for example, if someone were to trade in an iPhone 4 for a 16GB iPhone 5s and receive maximum trade in value, the monthly payment would be on the lower end, equating to $14.58/month.

Using the same iPhone 4 to trade in for a 128GB iPhone 6s Plus would net a $35.37 monthly payment on the new program. AppleCare+ isn't included in these new plans, so users will have to pay extra if they seek the Apple iPhone insurance. Specifics weren't given regarding Android and Windows Phone value, but Apple ballparked their trade-in value to somewhere between $100 and $300, lining up with the monthly values of the iPhone 4, 4s, 5, 5c, 5s, and 6.

Whatever phone you purchase will be unlocked, which means you're not tied to a specific carrier (though you still have to sign up for wireless service for the iPhone). The maximum trade-in values are the same as for the regular trade-in program. That's $100 for the iPhone 4 and 4S; $200 for the 5, 5C and 5S; $300 for the 6; and $350 for the 6 Plus.

The amount doesn't change based on how much storage you have. You'll get as much for the 16GB version of an iPhone as for the 128GB, despite the fact jumping from 16GB to 128GB cost you $200 when you bought the phone. And the values are for phones with regular use, so don't worry if your device isn't in pristine condition. If you have a cracked screen or other damage, you won't get as much money.

Unlike the iPhone Upgrade Program that offers a monthly installment plan but lets you upgrade your device yearly with a trade-in of your old device, the Trade Up With Installment program requires the device to be completely paid off before it can be traded in for an upgrade.

For a full breakdown on the trade-in values of old devices and the cost of new installment plans, check out CNET's comparison chart.

Article Link: Apple Announces New 'Trade Up With Installments' 24-Month iPhone Payment Plan

 

[8692574]

Wow getting the same for 16 and 128 GB, this must be a super deal for 16 gb owner, not so much for 128 buyers!!

Even so, I think a 16 gb could sell for a little bit more online if it was in pristine condition.

 

[Rudy69]

I hope the plan comes out in Canada next year! I bought my 2 iPhone 6S outright and I'd much rather use this plan so I can get new phones every year instead of every 2 years like I've been doing.

 

[Eidorian]

Why make a cheaper phone when you can just make a loan?

 

[BeSweeet]

"The amount doesn't change based on how much storage you have."

Yeah, no...

 

[newyorksole]

Uhh wasn't this always an option when the iPhone Upgrade Program first came out?......

 

[Crosscreek]

This would be fine as long as I don't need an Apple store to do it at. Closes store to me is 2.5 Hrs.

 

[Xenc]

Convenience usually wins, even if it is a rip off.

 

[hybroid]

Not everything everywhere has to be absolute bang for buck. Sometimes it's okay to let go...

 

[Dave245]

Still no word on this coming to the UK

 

[nburwell]

Not bad if you have an older device you want to trade in. I'm on the IUP and I still prefer that program to the one Apple just introduced. I'm sure there will be some confusion between the two programs for those who aren't familiar with each programs differences.

 

[Thunderhawks]

Not everything everywhere has to be absolute bang for buck. Sometimes it's okay to let go...

Maybe they should just say: Give us your phone and we'll recycle it.

Pat on the back and an "attaboy reward" for being environmentally conscious!

 

[Sbishop84]

Apple need to bring this to the UK!

 

[cmChimera]

Wish the iPhone upgrade program and this plan were available online.

 

[hauntvictim]

So it appears this is for device only and will not effect my grandfathered unlimited plan, correct?

 

[walt7788]

Does it require a hard credit check, like the other iPhone upgrade program does? If so, this is not a great option. if you're a long time Apple customer, they should only do soft credit checks based on purchase history (or something similar).

 

[AvidArtist]

So it appears this is for device only and will not effect my grandfathered unlimited plan, correct?

That's what I'm wondering. I'd be happy using either this new plan or Apple's original IUP plan, but I don't want to lose my grandfathered unlimited data.

 

[Zaren]

Hey, if they'll give me $100 for my carrier locked 4s, that'll be a good start.

 

[RickInHouston]

I think mindshare is no longer -"oh, a new phone is out I better get it."

It is now, "I cracked my screen" or "my earpiece no longer works".

 

[furi0usbee]

Not bad if you have an older device you want to trade in. I'm on the IUP and I still prefer that program to the one Apple just introduced. I'm sure there will be some confusion between the two programs for those who aren't familiar with each programs differences.

Wow, I am in the market for a new iPhone, but don't want the large 6 or 7. The 5se is compelling. I also have a 5, so if I can take advantage of this deal, that would be great. Going to wait and see what happens with the 5se.

 

[MacBH928]

what do they do with all the old phones?

 

[Z8beema]

Apple today announced a "Trade Up With Installments" payment plan that will let users trade in an old iPhone, Android, or Windows Phone and put the value of that device towards a new 24-month iPhone installment plan (via CNET). Available only in Apple Stores within the United States, the new program is a combination of Apple's classic reuse and recycle program and the newer 12-month iPhone Upgrade Program that launched alongside the iPhone 6s and iPhone 6s Plus last year.

According to Apple, Trade Up With Installments is "really geared toward people who have older generation iPhones." As with most trade-in programs, the older model of the phone that is traded in, the lesser its value. With Apple's new initiative, a new factor is thrown in depending on the model of iPhone that users are looking to pay off on the 24-month installment plan. So, for example, if someone were to trade in an iPhone 4 for a 16GB iPhone 5s and receive maximum trade in value, the monthly payment would be on the lower end, equating to $14.58/month.

Using the same iPhone 4 to trade in for a 128GB iPhone 6s Plus would net a $35.37 monthly payment on the new program. AppleCare+ isn't included in these new plans, so users will have to pay extra if they seek the Apple iPhone insurance. Specifics weren't given regarding Android and Windows Phone value, but Apple ballparked their trade-in value to somewhere between $100 and $300, lining up with the monthly values of the iPhone 4, 4s, 5, 5c, 5s, and 6.
Unlike the iPhone Upgrade Program that offers a monthly installment plan but lets you upgrade your device yearly with a trade-in of your old device, the Trade Up With Installment program requires the device to be completely paid off before it can be traded in for an upgrade.

For a full breakdown on the trade-in values of old devices and the cost of new installment plans, check out CNET's comparison chart.

Article Link: Apple Announces New 'Trade Up With Installments' 24-Month iPhone Payment Plan

Wonder if you can trade in multiple devices

 

[blairh]

You get just as much money for a 16GB model versus 128GB. Weird.

This is a good program for people who don't want to or know how to deal with Ebay/Craigslist/Swappa.

 

[ironpony]

My ATT installment for iPhone 6S plus is $35.42 without a trade in. So an iPhone 4 trade in could have saved me $.05 per month. ?

 

[KdParker]

Can I give apple 2 phones toward the purchase of one new 6s?