Apple Lease Program Stealing

Xtrmist

macrumors newbie
Original poster
Oct 29, 2017
2
0
California
So look at this; if you have used the Apple Upgrage/Lease program and have been a 1st day person when the new phone was released then it works out to be a Sept turn in of old phone and "paying off" the old 24month loan then getting a new 24month loan; with the cycle continuing.
With us who got an iPhone 7 1st day last year then are waiting on the "X" we will be 2 month in to our 2nd half payment plan or have only 10 or less payments remaining.
With the old phone being used to pay off the remaing debt then what do we get back in return?
Here is another question; with renewing our iPhone X lease in Novemeber, when the iPhone 11 hits in Sept we will have to wait till Novemeber or pay the difference in months to catch up the lease to match.

We should get credit back on a phone turned in after the 12th payment.

This should be the same for any carrier based upgrade plan as well.

Thoughts?
 

Appl3FTW

macrumors 603
Nov 15, 2012
5,383
1,017
The IUP and for programs of these sorts are designed to provide convenience. you will definitely lose money in the long run since you could’ve sold your phone somewhere else and get more money. But the question is, are you willing to or do you have time to hussle?
 

maflynn

Moderator
Staff member
May 3, 2009
63,843
30,363
Boston
With the old phone being used to pay off the remaing debt then what do we get back in return?
You get an iPhone X.

Here is another question; with renewing our iPhone X lease in Novemeber, when the iPhone 11 hits in Sept we will have to wait till Novemeber or pay the difference in months to catch up the lease to match.
That or make extra payments

Apple's IUP is a lease arrangement, you're getting a zero percent loan and if you trade in the old phone, you can get a newer one. I'm not sure where Apple is stealing.

If you don't like the terms of the deal, you are certainly free to just buy the phone outright.
 

marklemac

macrumors 6502
Oct 21, 2003
253
108
Southampton, UK.
I understand what you're saying and I have asked the chaps at my local store about this and what should happen is they arrange some sort of store credit for the difference in price. Like you I have made that extra payment and the phone is currently worth more than the remaining balance. So I guess if they don't give a credit then it would be worth paying off the loan and selling the phone privately for more dosh.
 

Chupa Chupa

macrumors G5
Jul 16, 2002
14,830
7,369
I'm not sure I understand your complaint. You leased the phone. You paid for the time you used it. That is what a lease is. You have no equity in the phone unless you decide to pay it off.
 

mrklaw

macrumors 68020
Jan 29, 2008
2,365
745
I understand what you're saying and I have asked the chaps at my local store about this and what should happen is they arrange some sort of store credit for the difference in price. Like you I have made that extra payment and the phone is currently worth more than the remaining balance. So I guess if they don't give a credit then it would be worth paying off the loan and selling the phone privately for more dosh.
Yes - if the phone is worth more than the balance, it is worth clearing the loan yourself and then selling privately. You get the benefit of a safety net where Apple guarantee they'll clear the debt just in case the phone might be worth less privately.
 

geoff5093

macrumors 68020
Sep 16, 2014
2,221
2,512
Dover, NH
I'm not sure I understand your complaint. You leased the phone. You paid for the time you used it. That is what a lease is. You have no equity in the phone unless you decide to pay it off.
I think OP is concerned that since the iPhone X came out in November, and likely next year's iPhone will come out in September, will he have to pay for 2 months of his iPhone X loan in addition to next year's iPhone? Or will Apple allow him to upgrade in September without having to make extra payments.
 
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marklemac

macrumors 6502
Oct 21, 2003
253
108
Southampton, UK.
I think OP is concerned that since the iPhone X came out in November, and likely next year's iPhone will come out in September, will he have to pay for 2 months of his iPhone X loan in addition to next year's iPhone? Or will Apple allow him to upgrade in September without having to make extra payments.
exactly. the whole point of last years iup was you can upgrade at month 11, but we couldn't so ended up making another payment. I'm sure all will be cleared up on Friday :)
 

Chupa Chupa

macrumors G5
Jul 16, 2002
14,830
7,369
I think OP is concerned that since the iPhone X came out in November, and likely next year's iPhone will come out in September, will he have to pay for 2 months of his iPhone X loan in addition to next year's iPhone? Or will Apple allow him to upgrade in September without having to make extra payments.
If Apple is firm with the 12-mo term then OP won't be able to upgrade until he's made 12 payments. If he tries to upgrade before then, yes, he'd be liable for those 2 extra payments. But Apple could waive those payment too. It would be missing out on a lot of launch day sales next year if it didn't. But the bottomline here is that no one is being forced to make extra payments for no value received.
 

dave006

Contributor
Jul 3, 2008
3,358
669
Just West of East
....With the old phone being used to pay off the remaining debt then what do we get back in return?

Here is another question; with renewing our iPhone X lease in November, when the iPhone 11 hits in Sept we will have to wait till Novemeber or pay the difference in months to catch up the lease to match.

We should get credit back on a phone turned in after the 12th payment.

This should be the same for any carrier based upgrade plan as well.

Thoughts?
No credit is due to you.

Your old phone is not being used to pay off the remaining debt, you are just turning in your previous device which allows you to end the IUP and start a new IUP. You had use of it for additional time beyond the 12 month period, so payments were required. I guess you could have turned it in at exactly 12 months and just gone without an iPhone until your iPhone X is delivered. Not a good plan in my view.

What you wanted 2 free months? If you had upgraded back in Sept. you would have been required to pay for the "new" iPhone using the IUP so no savings 2 months of payments.

Now as to next year, all we can do is to guess the time of the release of the next device. The IUP requires you to make individual monthly payments and you must make a minimum of 12 payments before you are eligible to replace / upgrade.

So next fall, you get to decide if you want to upgrade "early" and pay the 2 additional payments or just wait until you have reached the 12 month on your then current IUP plan.

Dave
 
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Classic_Mac

macrumors newbie
Sep 26, 2016
26
21
Indianapolis, IN
So look at this; if you have used the Apple Upgrage/Lease program and have been a 1st day person when the new phone was released then it works out to be a Sept turn in of old phone and "paying off" the old 24month loan then getting a new 24month loan; with the cycle continuing.
With us who got an iPhone 7 1st day last year then are waiting on the "X" we will be 2 month in to our 2nd half payment plan or have only 10 or less payments remaining.
With the old phone being used to pay off the remaing debt then what do we get back in return?
Here is another question; with renewing our iPhone X lease in Novemeber, when the iPhone 11 hits in Sept we will have to wait till Novemeber or pay the difference in months to catch up the lease to match.

We should get credit back on a phone turned in after the 12th payment.

This should be the same for any carrier based upgrade plan as well.

Thoughts?
I sense some entitlement here! You make payments for how many months you have the phone. It doesn't matter if you get a new phone at 12 months or 16 months, you upgrade you lose the money. In what world do we live in where we get months of free use out of a device that had very clear terms of payment?
 
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coltyn7

macrumors newbie
Sep 16, 2016
15
3
Not true. Apple and Citizen Bank which is where IUP plan is through have announced any payments after 12 months would be credited back. Deal is 12 payments, new phone. If new phone isn’t out (which in this case it’s not) your entitled to credit
 

Jimpilot

macrumors 65816
Sep 11, 2014
1,024
599
No
Not true. Apple and Citizen Bank which is where IUP plan is through have announced any payments after 12 months would be credited back. Deal is 12 payments, new phone. If new phone isn’t out (which in this case it’s not) your entitled to credit
Source for that? I want to be included
 

Knowimagination

macrumors 68020
Apr 6, 2010
2,042
875
I can't imagine being so entitled as to post something like this. You deserve nothing for your "extra payments" which are actually just normal payments not extra.
 

noteple

macrumors 65816
Aug 30, 2011
1,407
323
Make 12 payments and you can upgrade your phone, if you choose.

Folks could have upgraded to an iPhone 8 or even gone backwards.

There is no Launch Day Phone Upgrade Tantrum (PUTz) program
 

sirenized

macrumors 6502
Oct 15, 2008
274
225
exactly. the whole point of last years iup was you can upgrade at month 11, but we couldn't so ended up making another payment. I'm sure all will be cleared up on Friday :)
well technically you could've. you just wanted the Iphone X and not the 8. so I assume, unless apple is willing to forgive a month or two of the contract, that youll be able to upgrade in month 11 (or October) of next year.
 

myscrnnm

macrumors 65816
Sep 16, 2014
1,379
791
Seattle, WA
Um, this is how leases work, and the reason I always buy my phones outright. You were paying for the privilege of using the phone, and by the time you return it to the person you leased it from, it's not worth the same amount anymore, due to depreciation over time and wear and tear it would have incurred.
 

OriginalAppleGuy

macrumors 6502a
Sep 25, 2016
620
548
Virginia
People keep referring to the IUP or Apple payment plan as a lease. It is not a lease. At the end of the term, you own the device, there is no option to "buy it" at the end of the term (24 months). That's a huge differentiation. It even refers to itself as a loan "Requires a 24-month installment loan with a 0% APR from Citizens Bank, N.A."
 
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myscrnnm

macrumors 65816
Sep 16, 2014
1,379
791
Seattle, WA
People keep referring to the IUP or Apple payment plan as a lease. It is not a lease. At the end of the term, you own the device, there is no option to "buy it" at the end of the term (24 months). That's a huge differentiation. It even refers to itself as a loan "Requires a 24-month installment loan with a 0% APR from Citizens Bank, N.A."
Forgive me if I'm wrong, but don't you forfeit the phone upon upgrading if it's not paid off? (I agree that if you own the device, it is in fact a loan, but it seems to me the program is more of a hybrid of the two depending on the outcome).
 

geoff5093

macrumors 68020
Sep 16, 2014
2,221
2,512
Dover, NH
I can't imagine being so entitled as to post something like this. You deserve nothing for your "extra payments" which are actually just normal payments not extra.
That's not what OP is concerned about. He is using the AUP to get a new phone every year. Next year though the new iPhone will likely be out in September, while the iPhone X is out in November. He's asking if he wants to upgrade to the next iPhone will he have to make double payments to ride out the iPhone X contract.