After the Equifax breach, I froze all my credit reports so I assume I would not be able to participate in any financing program unless I unfreeze my reports and then re-freeze them after (there are also fees to do this). Since I don't think a phone is worth it to go through that process if I get an iPhone I'll just pay it all up front.
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Apple Upgrade Program for the X or Buy it outright?
- Thread starter mbrink12
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My wife would like to upgrade from her 6 to an X. Since she tends to keep her phones a long time and never is interested in upgrading early, I'm planning on buying an X outright for her.
I, on the other hand, am nearly always interested in new features, so I upgrade often. I've been using the IUP for a couple years now and it's been working well for me. It means an endless payment program, but in return I get a zero interest loan, AppleCare coverage, no hassle selling an old phone, and get a new phone often.
As best I can tell, if you buy a phone outright, and get AppleCare, the costs ends up about the same as using the IUP. However, lots depends on what you can recoup on the sale of the old phone. Right now, since the 8 has been released, what I could get for my 7+ is far less than what it would take to pay it off. Makes me think I'm a bit ahead since I plan on upgrading.
Some people mention they can get better prices by selling the old phone before the new one is released. True enough, but I'm not sure what they do for a phone in the meantime.
I, on the other hand, am nearly always interested in new features, so I upgrade often. I've been using the IUP for a couple years now and it's been working well for me. It means an endless payment program, but in return I get a zero interest loan, AppleCare coverage, no hassle selling an old phone, and get a new phone often.
As best I can tell, if you buy a phone outright, and get AppleCare, the costs ends up about the same as using the IUP. However, lots depends on what you can recoup on the sale of the old phone. Right now, since the 8 has been released, what I could get for my 7+ is far less than what it would take to pay it off. Makes me think I'm a bit ahead since I plan on upgrading.
Some people mention they can get better prices by selling the old phone before the new one is released. True enough, but I'm not sure what they do for a phone in the meantime.
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Disagree. IUP doesn't require a contract - carrier financing does.
You can pay the phone off whenever you'd like with IUP. It comes unlocked and arguably better service from Apple (at least for now).
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Not true. The commitment isn't based on months, it's based on payments. You can fully payoff the device after 6 months and be done with it. Or you can trade your phone in after 12 payments.
I'm looking to buy a house in the near future, basically as soon as one comes on the market I like in the area I like, I'll buy it. I have already been looking for a long time, so who knows when that will happen...but I already had a hard pull for my pre-approval, opened a CSR a year ago, will need to do another hard pull for another pre-approval/buying process.....so for now, I don't think I want to mess with a hard pull in my situation when I can easily afford to just buy the thing outright.
The only crappy thing about that is I have to pay probably $1450 up front for the phone/apple care (probably worth it with glass front/back) and then have to deal with selling the phone 9 months later and hoping I get a decent amount for it/finding the time to ship it when I work 2 full time jobs etc etc
This is from Apple's website:
What information is needed to reapply for a loan with the iPhone Upgrade Program?
If you enter the Social Security number you used when you first joined the iPhone Upgrade Program, your application will be conveniently autofilled with the information that’s already on file with Citizens One, Apple’s official financing partner. If you apply for a new loan with a different Social Security number from the one you used before, you’ll be asked to provide your date of birth for a credit check. Citizens One reserves the right to request additional identifying information, as needed. You’ll also need a valid U.S. credit card. Debit cards and prepaid cards are not accepted. ... Citizens One reserves the right to perform a credit inquiry as needed to determine loan eligibility. Depending on your account performance and transactional history in the iPhone Upgrade Program, Citizens One may approve your new loan application without your credit being affected.
Source: https://www.apple.com/shop/iphone/iphone-upgrade-program/upgrade
If you enter the Social Security number you used when you first joined the iPhone Upgrade Program, your application will be conveniently autofilled with the information that’s already on file with Citizens One, Apple’s official financing partner. If you apply for a new loan with a different Social Security number from the one you used before, you’ll be asked to provide your date of birth for a credit check. Citizens One reserves the right to request additional identifying information, as needed. You’ll also need a valid U.S. credit card. Debit cards and prepaid cards are not accepted. ... Citizens One reserves the right to perform a credit inquiry as needed to determine loan eligibility. Depending on your account performance and transactional history in the iPhone Upgrade Program, Citizens One may approve your new loan application without your credit being affected.
Source: https://www.apple.com/shop/iphone/iphone-upgrade-program/upgrade
Is rather buy the X on IUP in UK, never been on before but as suspected of low stock I'm wondering if it'll be to many clicks and agreements over just buying new outright?
Big mess up here this morning in the UK. Couldn’t get on the Apple app until 8:15. Placed an order for the X on the upgrade programme and was told it’d be 18th November. So went back on the app and then bought an X that says delivery 2 to 3 weeks. Then, saw that the X was available to buy from Carphone Warehouse for pick up on Friday so placed a 3ed order! So.....
I’m thinking if I can get my hands on the CPW order on Friday I’ll go for that. It’s on a zero interest credit card. Only question is, do I then get AppleCare Plus? It’s £199 so a bit pricy. Surely there are cheaper options. Any thoughts anyone?
I’m thinking if I can get my hands on the CPW order on Friday I’ll go for that. It’s on a zero interest credit card. Only question is, do I then get AppleCare Plus? It’s £199 so a bit pricy. Surely there are cheaper options. Any thoughts anyone?