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iPhone 12 Pro Max Apple Card installment plan better?

L

lsh

macrumors 6502a
Original poster
Feb 6, 2012
745
202
Cincinnati, OH
I have an Apple Card.
I see the option to buy iPhone 13 pro thru Apple Card installments. I currently am on the IUP program.

The Apple store page seems to suggest that and iPhone 12 Pro max is worth $790 trade in, which is more than the 50% of my iPhone 12 Pro max. However, that trade in value doesn't seem to be capacity related, the trade in option didn't ask that.

Am I missing something or why wouldn't I just pay off my IUP and trade in using Apple Card installments?
 
lsh said:
I have an Apple Card.
I see the option to buy iPhone 13 pro thru Apple Card installments. I currently am on the IUP program.

The Apple store page seems to suggest that and iPhone 12 Pro max is worth $790 trade in, which is more than the 50% of my iPhone 12 Pro max. However, that trade in value doesn't seem to be capacity related, the trade in option didn't ask that.

Am I missing something or why wouldn't I just pay off my IUP and trade in using Apple Card installments?
Click to expand...
Well one difference is that the iUP includes AppleCare, whereas the Apple Card installments do not require you to carry insurance. The main benefit of iUP is that it's easy to trade in your iPhone every year; with the installments you'll have to pay it off, then sell / trade it in, and buy the new phone.
 
lsh said:
I have an Apple Card.
I see the option to buy iPhone 13 pro thru Apple Card installments. I currently am on the IUP program.

The Apple store page seems to suggest that and iPhone 12 Pro max is worth $790 trade in, which is more than the 50% of my iPhone 12 Pro max. However, that trade in value doesn't seem to be capacity related, the trade in option didn't ask that.

Am I missing something or why wouldn't I just pay off my IUP and trade in using Apple Card installments?
Click to expand...

IUP gives you a "guaranteed" trade-in value at time of purchase. This year, you get more money if you do the trade-in yourself but there's no guarantee the trade-in values will remain high next year at upgrade time.
 
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rui no onna said:
IUP gives you a "guaranteed" trade-in value at time of purchase. This year, you get more money if you do the trade-in yourself but there's no guarantee the trade-in values will remain high next year at upgrade time.
Click to expand...
Correct, there is no guarantee, but the trade in value has always been at least 50% from what I've seen. The bonus is you don't have to have AppleCare+. I've never had it and only one cracked screen in 14 years of iPhones. I'm way ahead, financially, by never getting it. An additional bonus is the 3% cash back on the Apple Card. That $1000 iPhone just dropped to $970.
UltimateSyn said:
The main benefit of iUP is that it's easy to trade in your iPhone every year; with the installments you'll have to pay it off, then sell / trade it in, and buy the new phone.
Click to expand...
You don't have to pay it off. You can trade it in or sell it and keep paying the payments. As an example: Trade in your old $1000 Pro for $500. Still owe $500 on the card for the remaining balance and then an additional $500 for the new Pro plus tax. No pulls on your credit, no fretting over whether you've made 11 or 12 payments when the new iPhone, that you just have to have, is released.
 
With Apple Card installments, the entire cost of the phone is deducted from your available credit. With the Upgrade Program, and the loan through Citizens, your Apple Card available credit isn't affected, and you can still get the 3%, I believe, if you use your Apple Card to make your Citizens payments.
 
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Phone Junky said:
Correct, there is no guarantee, but the trade in value has always been at least 50% from what I've seen. The bonus is you don't have to have AppleCare+. I've never had it and only one cracked screen in 14 years of iPhones. I'm way ahead, financially, by never getting it. An additional bonus is the 3% cash back on the Apple Card. That $1000 iPhone just dropped to $970.

You don't have to pay it off. You can trade it in or sell it and keep paying the payments. As an example: Trade in your old $1000 Pro for $500. Still owe $500 on the card for the remaining balance and then an additional $500 for the new Pro plus tax. No pulls on your credit, no fretting over whether you've made 11 or 12 payments when the new iPhone, that you just have to have, is released.
Click to expand...

So if I choose the $18/mo payment to buy the phone from Apple after my trade in, I can buy another phone next year as long as I keep paying the $18/mo because I purchased it on my Apple CC, just like if I would have bought it on any other CC? Doesn’t matter if I sell it, trade it in, or give it to a family member, as long as I’m making the payments. Is that correct?
 
rachelsgoldens said:
So if I choose the $18/mo payment to buy the phone from Apple after my trade in, I can buy another phone next year as long as I keep paying the $18/mo because I purchased it on my Apple CC, just like if I would have bought it on any other CC? Doesn’t matter if I sell it, trade it in, or give it to a family member, as long as I’m making the payments. Is that correct?
Click to expand...
Yes. It's not tied any carrier contract. It's nothing more than a charge on a credit card that you owe.
SisterBlue22 said:
With Apple Card installments, the entire cost of the phone is deducted from your available credit.
Click to expand...
No big deal.
 
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Does anyone know if I use the Apple Card or payments to buy an iPhone 13 Pro, if you decide to return it for something else, can you??
 
SisterBlue22 said:
With Apple Card installments, the entire cost of the phone is deducted from your available credit. With the Upgrade Program, and the loan through Citizens, your Apple Card available credit isn't affected, and you can still get the 3%, I believe, if you use your Apple Card to make your Citizens payments.
Click to expand...
This is what I do, use Citizens and pay with my Apple Card. That 3% goes into a Apple Cash card that I give to my son at Christmas.
 
SisterBlue22 said:
With Apple Card installments, the entire cost of the phone is deducted from your available credit. With the Upgrade Program, and the loan through Citizens, your Apple Card available credit isn't affected, and you can still get the 3%, I believe, if you use your Apple Card to make your Citizens payments.
Click to expand...

This is what I do.
 
SisterBlue22 said:
With Apple Card installments, the entire cost of the phone is deducted from your available credit. With the Upgrade Program, and the loan through Citizens, your Apple Card available credit isn't affected, and you can still get the 3%, I believe, if you use your Apple Card to make your Citizens payments.
Click to expand...

Also if you decide to pay off the phone early you would need to pay off the entire card balance. You can’t just pay off the phone if the card has any other balance on it.
 
Cyberguycpt said:
Also if you decide to pay off the phone early you would need to pay off the entire card balance. You can’t just pay off the phone if the card has any other balance on it.
Click to expand...
What would be the advantage of paying off the 0% payment plan before other charges which potentially incur interest?
 
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jon3543 said:
What would be the advantage of paying off the 0% payment plan before other charges which potentially incur interest?
Click to expand...

If you decided to sale the phone before your are finished paying it off. For example I have an IPad Air on an installment plan and wanted to just pay it off as to release the hold on credit it has now. But I can’t unless I pay off the entire card balance.
 
Cyberguycpt said:
If you decided to sale the phone before your are finished paying it off. For example I have an IPad Air on an installment plan and wanted to just pay it off as to release the hold on credit it has now. But I can’t unless I pay off the entire card balance.
Click to expand...
Are we talking about the Apple credit card?
 
Cyberguycpt said:
If you decided to sale the phone before your are finished paying it off. For example I have an IPad Air on an installment plan and wanted to just pay it off as to release the hold on credit it has now. But I can’t unless I pay off the entire card balance.
Click to expand...

The Apple Card is like any credit card. It's an unsecured loan so the iPad Air is already free and clear even if you haven't paid it off yet.

You're actually better off using the proceeds from the Air sale towards balance incurring interest. Regardless of whether it's applied to installment or regular balance, $400 paid is still $400 reduction on your total credit card balance.
 
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Cyberguycpt said:
Yeah.
Click to expand...
Then I'm back to my original question. Unless having an outstanding balance on a 0% Apple purchase to the card impacts your ability to make additional 0% Apple purchases aside from your credit limit, what difference does it make that you can't pay that part of your card balance off first? I'm not aware there's any such impact, which is the source of my confusion.
 
jon3543 said:
Then I'm back to my original question. Unless having an outstanding balance on a 0% Apple purchase to the card impacts your ability to make additional 0% Apple purchases aside from your credit limit, what difference does it make that you can't pay that part of your card balance off first? I'm not aware there's any such impact, which is the source of my confusion.
Click to expand...

Like hear what you are saying. But for me an installment plan indicates that it is not mine free in clear until said installment plan is paid off. I get what you are saying. I just would have preferred to pay off the IPad just so there is no confusion in my mind on who owns the ipad. I just don’t understand why I can just go in and pay off the Ipad and call it a day.
 
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