Apple Annual Upgrade Program Question

[LarryJoe33]

First time going this route was exactly a year ago. My iPhone 7 was delivered on 9/22/16. I am holding out for the X which could take 2-5 months from now to have in hand. Am I losing out financially by not upgrading now? What if I don't upgrade and hang onto this for another year. It will be paid for, will Apple give me market value two years from now towards a new phone? I could also sell it myself at anytime and payoff the remainder of the payments.

Anyone thought through all the scenarios and come to a conclusion on the best way to go? I fully expected to upgrade annually, but the 8 isn't doing it for me over the 7 and the X could be a while.

Thoughts?

 

[lsutigerfan1976]

First time going this route was exactly a year ago. My iPhone 7 was delivered on 9/22/16. I am holding out for the X which could take 2-5 months from now to have in hand. Am I losing out financially by not upgrading now? What if I don't upgrade and hang onto this for another year. It will be paid for, will Apple give me market value two years from now towards a new phone? I could also sell it myself at anytime and payoff the remainder of the payments.

Anyone thought through all the scenarios and come to a conclusion on the best way to go? I fully expected to upgrade annually, but the 8 isn't doing it for me over the 7 and the X could be a while.

Thoughts?

I thought about that to. I was right at my one year mark. And instead of taking a chance of waiting a few months. I went ahead and got an 8 plus. I decided I could live without an edge to edge display. And by the time I pay this one off for a year. The 11 will be out. And I can choose to either go with the 11 or X.

 

[nrvna76]

I’m guessing it would default to either paying off your remaining balance or the iPhone trade up program. Which currently shows approximately 325 for an iPhone 7....

 

[Apple_Robert]

Pay off the phone and either keep it as a backup, or sell it at your convince. Don't become a slave to the Apple program, feeling as if you have to do something when you don't want to. If you feel that way, you should know you are in a bad situation.

People around here need to stop thinking of their Apple products as assets. They aren't.

 

[Cyberguycpt]

I faced the same dilemma on Tmobile upgrade program. I currently owed $360 if I waited to Preorder the X and its backordered to let's say February I would have only owed $210, no way I would just hand it over to Tmobile so so can resell it for like 500-600. So I sold mine on Craigslist for $625.

 

[Travisimo]

First time going this route was exactly a year ago. My iPhone 7 was delivered on 9/22/16. I am holding out for the X which could take 2-5 months from now to have in hand. Am I losing out financially by not upgrading now? What if I don't upgrade and hang onto this for another year. It will be paid for, will Apple give me market value two years from now towards a new phone? I could also sell it myself at anytime and payoff the remainder of the payments.

Anyone thought through all the scenarios and come to a conclusion on the best way to go? I fully expected to upgrade annually, but the 8 isn't doing it for me over the 7 and the X could be a while.

Thoughts?

Supposedly, if you wait for the X, you will be refunded for the extra payments you make between when you completed 12 payments and when you order the new phone. That means you should be able to upgrade to the iPhone X and not lose out financially. If you decided to wait until you've completed all 24 payments, you can do whatever you want with your phone (sell it yourself, trade it in with whomever you want, pass it on to a friend or family member, etc).

"Under the terms of the program, you’re “eligible to upgrade to a new iPhone once you’ve made 12 payments.” Customers who bought the iPhone 7 at launch would have to pay 13 or 14 installments before the iPhone X arrives. But an Apple user confirmed with Apple support that anyone paying those extra two payments will get their money back"

http://bgr.com/2017/09/14/iphone-x-price-iphone-upgrade-program-refund/

 

[LarryJoe33]

Thanks, so I have already made 13 payments and my loan balance is $402 (includes apple Care). The iPhone 7 128GB is trending at $539 on eBay. Wonder if in a few months I am better off selling on my own and paying off the loan and pocketing a few extra $$?

Since my payments are made on the 20th, at best, I will make another payment before the X is delivered assuming I order it on 10.27 and it ships immediately. So my balance will be $366 then. Seems I'm better off selling it on my own and paying it off unless I am missing something?

 

[lsutigerfan1976]

Supposedly, if you wait for the X, you will be refunded for the extra payments you make between when you completed 12 payments and when you order the new phone. That means you should be able to upgrade to the iPhone X and not lose out financially. If you decided to wait until you've completed all 24 payments, you can do whatever you want with your phone (sell it yourself, trade it in with whomever you want, pass it on to a friend or family member, etc).

"Under the terms of the program, you’re “eligible to upgrade to a new iPhone once you’ve made 12 payments.” Customers who bought the iPhone 7 at launch would have to pay 13 or 14 installments before the iPhone X arrives. But an Apple user confirmed with Apple support that anyone paying those extra two payments will get their money back"

http://bgr.com/2017/09/14/iphone-x-price-iphone-upgrade-program-refund/

I am not so sure. I spoke to a few ppl at citizens. One who transferred me to a supervisor. And they said that what it basically said was you “can” upgrade every 12 months. Or you are eligible after you paid 12 months worth of payments. But it doesn’t necessarily say that anyone is obligated to give you a new phone at that point.

Now I am not saying ppl haven’t gotten lucky and gotten some credits. But it does make sense. Only thing anyone has ever advertised is when the new iPhone comes out, you can swap to the new one. If you have made “at least” 12 payments. The key is “when” it comes out.

 

[LarryJoe33]

But can I just keep it and pay it off? Still order the x?

 

[elfxmilhouse]

But can I just keep it and pay it off? Still order the x?

yes

 

[x-evil-x]

I am not so sure. I spoke to a few ppl at citizens. One who transferred me to a supervisor. And they said that what it basically said was you “can” upgrade every 12 months. Or you are eligible after you paid 12 months worth of payments. But it doesn’t necessarily say that anyone is obligated to give you a new phone at that point.

Now I am not saying ppl haven’t gotten lucky and gotten some credits. But it does make sense. Only thing anyone has ever advertised is when the new iPhone comes out, you can swap to the new one. If you have made “at least” 12 payments. The key is “when” it comes out.

so someone is getting two months of payments richer this year for people waiting for the x. Strategic planning on apples part to make more money because of the delay so people will pay more and upgrade next September? Who knows

 

[rui no onna]

But can I just keep it and pay it off? Still order the x?

Yes. If you still choose to get the iPhone X via the Apple iPhone Upgrade Program after you've fully paid off your current phone, there might be another hard credit pull though.

 

[LarryJoe33]

Yes. If you still choose to get the iPhone X via the Apple iPhone Upgrade Program after you've fully paid off your current phone, there might be another hard credit pull though.

Thanks, that is what I thought. Now, if I sit down to order the X on 10/27 at 3AM and I select that I am on the upgrade program and upgrading, then it takes 3 months to get the phone, I wonder if I still have the option to just pay off the iPhone 7 and keep it (really sell it on my own) and not turn it in per the instructions.

I called Apple this morning with questions and they were useless. I think I new more than the person I was talking to. She kept referring to the Next plan...I lost patience.

 

[Travisimo]

Thanks, that is what I thought. Now, if I sit down to order the X on 10/27 at 3AM and I select that I am on the upgrade program and upgrading, then it takes 3 months to get the phone, I wonder if I still have the option to just pay off the iPhone 7 and keep it (really sell it on my own) and not turn it in per the instructions.

I called Apple this morning with questions and they were useless. I think I new more than the person I was talking to. She kept referring to the Next plan...I lost patience.

If you didn't return the old phone after doing an upgrade on the iUP, then you would likely just get charged all at once for the remaining balance on it since the new phone starts a new loan agreement anyway. But it sure would be nice if Apple would officially clarify all of this. It's certainly one disadvantage to using an upgrade program like iUP, AT&T Next, etc. because you aren't guaranteed that a new phone you want will be out in exactly 1 year. If it was the other way around (where the phone came out SOONER than your 1 year of payments), it's not a big deal... you just pay the extra payment(s) and upgrade. But when the phone comes out LATER, then it basically means you are not getting as much on your return (unless they do the credits, but that's not entirely clear).

 

[lsutigerfan1976]

so someone is getting two months of payments richer this year for people waiting for the x. Strategic planning on apples part to make more money because of the delay so people will pay more and upgrade next September? Who knows

They said you can upgrade every 12 months provided that the phone you want is available. They said they cannot control the fact that Apple has delays. Since it was a loan, I had to keep paying the loan. Or in my case, I just traded my phone for an 8 plus.

 

[LarryJoe33]

If you didn't return the old phone after doing an upgrade on the iUP, then you would likely just get charged all at once for the remaining balance on it since the new phone starts a new loan agreement anyway. But it sure would be nice if Apple would officially clarify all of this. It's certainly one disadvantage to using an upgrade program like iUP, AT&T Next, etc. because you aren't guaranteed that a new phone you want will be out in exactly 1 year. If it was the other way around (where the phone came out SOONER than your 1 year of payments), it's not a big deal... you just pay the extra payment(s) and upgrade. But when the phone comes out LATER, then it basically means you are not getting as much on your return (unless they do the credits, but that's not entirely clear).

That's exactly my thinking. I guess in a perfect world, at 12 months my phone has a balance of $440 (which it did). I certainly would take that from Apple vs. selling via eBay for $500 max net of fees. BUT, If we are talking about $366 or $330 in December, I'm selling it on my own and paying it off.
[doublepost=1506359929][/doublepost]

They said you can upgrade every 12 months provided that the phone you want is available. They said they cannot control the fact that Apple has delays. Since it was a loan, I had to keep paying the loan. Or in my case, I just traded my phone for an 8 plus.

Yeah, I have no interest in the 8 and if it were the only new phone announced I would pass on it. I don't consider it an upgrade.

 

[Wags]

Says right in Apple terms & conditions.

Doesn't guarantee that you can upgrade after 12 months and pay no more than 12 and doesn't guarantee release dates matching upgrade program.

So Apple paying off payments next year also if the next model gets released on schedule ?

Eligible iPhone Availability. Upgrading to a new eligible iPhone is subject to its release and availability at the time you exercise your Upgrade Option.

 

[LarryJoe33]

It's all good. The way I look at it is that this is not really an "upgrade" program but rather an interest free loan that Apple "almost" guarantees to buy you out of at the 12 month mark in return for your hardware. I guess the only additive is the requirement to buy Apple Care which I would not have if I had purchased the phone outright (because I usually don't have a phone for more than a year ).

I am leaning towards buying the X as my annual upgrade because I might get preference in inventory and NOT returning the phone and paying off the loan myself and selling it. My 7 is absolutely perfect with box and accessories. Just had the screen replaced yesterday. Not a scratch on the Jet Black. Easily could fetch $500 (with ~10 months of Apple Care) so why give it to Apple for ~$300

 

[Wags]

Exactly about interest free loan even if keep 24 months.
Kind of safety net too. Worst case scenario trade in after 12 months and don't have to worry about selling and trade in value is usually less than what you owe. Right now about $370 vs $425 owed.

 

[LarryJoe33]

Exactly about interest free loan even if keep 24 months.
Kind of safety net too. Worst case scenario trade in after 12 months and don't have to worry about selling and trade in value is usually less than what you owe. Right now about $370 vs $425 owed.

What do you have? $370?

 

[nviz22]

First time going this route was exactly a year ago. My iPhone 7 was delivered on 9/22/16. I am holding out for the X which could take 2-5 months from now to have in hand. Am I losing out financially by not upgrading now? What if I don't upgrade and hang onto this for another year. It will be paid for, will Apple give me market value two years from now towards a new phone? I could also sell it myself at anytime and payoff the remainder of the payments.

Anyone thought through all the scenarios and come to a conclusion on the best way to go? I fully expected to upgrade annually, but the 8 isn't doing it for me over the 7 and the X could be a while.

Thoughts?

Relying on a company for a trade in for market value isn't really realistic. You can get market value by selling on Swappa. Holding onto a phone now that works is something many of us are doing. I even think using a 7+ or SE for a year would be wise because it allows you to save $ and get the iPhone X on even cheaper. T-Mobile had a deal where they gave $300 towards any of the 2016 iPhones with a SE trade in, which is above market value and allowed people to eat a sizable amount of their 7/7+ purchase. Plus, some credit card companies do offer price protection, but YMMV and you might be limited by a 24 month EIP. I am paying my phone off in full once I get my promo.

 

[Wags]

What do you have? $370?

Ip7, 256GB was $370 at gazelle last time looked.

 

[LarryJoe33]

Relying on a company for a trade in for market value isn't really realistic. You can get market value by selling on Swappa. Holding onto a phone now that works is something many of us are doing. I even think using a 7+ or SE for a year would be wise because it allows you to save $ and get the iPhone X on even cheaper. T-Mobile had a deal where they gave $300 towards any of the 2016 iPhones with a SE trade in, which is above market value and allowed people to eat a sizable amount of their 7/7+ purchase. Plus, some credit card companies do offer price protection, but YMMV and you might be limited by a 24 month EIP. I am paying my phone off in full once I get my promo.

Again, the way I look at it is that I have an interest free loan. I can keep it and continue to use it, "sell it to Apple" for below MV, pay it off continue to use it, pay it off get the X and sell it for a "profit" (using that loosely)
[doublepost=1506362955][/doublepost]

Ip7, 256GB was $370 at gazelle last time looked.

Dude, Gazelle is the equivalent of Apple! They buy it and sell it for $500+! eBay is guaranteeing my phone sells for $566 ish.

Check it out :http://www.ebay.com/s/phone?clk_rvr...rd=sell+mobile&device=c&sitelnk=123456&crdt=0

 

[Wags]

Again, the way I look at it is that I have an interest free loan. I can keep it and continue to use it, "sell it to Apple" for below MV, pay it off continue to use it, pay it off get the X and sell it for a "profit" (using that loosely)
[doublepost=1506362955][/doublepost]
Dude, Gazelle is the equivalent of Apple! They buy it and sell it for $500+! eBay is guaranteeing my phone sells for $566 ish.

Check it out :http://www.ebay.com/s/phone?clk_rvr...rd=sell+mobile&device=c&sitelnk=123456&crdt=0

View attachment 720994

Guarantee ?

 

[nviz22]

Again, the way I look at it is that I have an interest free loan. I can keep it and continue to use it, "sell it to Apple" for below MV, pay it off continue to use it, pay it off get the X and sell it for a "profit" (using that loosely)
[doublepost=1506362955][/doublepost]
Dude, Gazelle is the equivalent of Apple! They buy it and sell it for $500+! eBay is guaranteeing my phone sells for $566 ish.

Check it out :http://www.ebay.com/s/phone?clk_rvr...rd=sell+mobile&device=c&sitelnk=123456&crdt=0

View attachment 720994

If you're going to upgrade to iPhones yearly, then the IUP is pretty solid since you only pay off like 50% of the device plus tax. Though, T-Mobile's JoD is also pretty solid. If you really want the iPhone X, you'll find a way to get one. I really wanted an iPhone X or Galaxy Note 8 from the time the iPhone X was announced. I found a way to get the Note 8 via a T-Mobile BOGO and didn't have to eat the $1000 iPhone X cost and the $75 cost for quick charg.e