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ssjcollins

macrumors newbie
Original poster
Feb 13, 2023
2
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Hey all!

I'm going to make this short and sweet.
I've had a hard time trying to locate the answer to this question online...

If you have the apple upgrade program, and you finance an iPhone for 24 months, and after 12 months of paying monthly, you decide to upgrade to the newer phone, Do you get a credit?

I've had the upgrade program for about 3-4 years and I've always upgraded every 12 months or so. Every time I upgrade, my new loan amount is the FULL amount ($1300-1500) for the newest phone, and I "trade in" send back my old phone, that one closes out, and all is good.

I had a chat with my buddy who said he has been getting a credit back and his payment is cut in half.... So his monthly payment is $24 or so, and mine is $54... He also has an apple credit card and I don't.

Any advice would be appreciated on this, going to call apple today on my lunch break to make sure all is good, but if I've lost out on thousands of dollars I'm going to be pretty upset o_O.

Also the payments are through Citizens using my normal Visa credit card.
 
Hey all!

I'm going to make this short and sweet.
I've had a hard time trying to locate the answer to this question online...

If you have the apple upgrade program, and you finance an iPhone for 24 months, and after 12 months of paying monthly, you decide to upgrade to the newer phone, Do you get a credit?

I've had the upgrade program for about 3-4 years and I've always upgraded every 12 months or so. Every time I upgrade, my new loan amount is the FULL amount ($1300-1500) for the newest phone, and I "trade in" send back my old phone, that one closes out, and all is good.

I had a chat with my buddy who said he has been getting a credit back and his payment is cut in half.... So his monthly payment is $24 or so, and mine is $54... He also has an apple credit card and I don't.

Any advice would be appreciated on this, going to call apple today on my lunch break to make sure all is good, but if I've lost out on thousands of dollars I'm going to be pretty upset o_O.

Also the payments are through Citizens using my normal Visa credit card.
what you mentioned is correct. When you upgrade and trade in your old phone, it closes out the loan and you start fresh. Your friend is mistaken and providing incorrect information.

Even if you finance it(not on iPhone upgrade program) when you trade it in after 12 months, you will get a credit for the phone but remember the outstanding amount is still due at that time so you will have to payoff the loan with that credit and most probably the credit is going to be lower than the outstanding amount. Hope that helps.
 
Is this your friend's first time on the Upgrade Program? If this is the first time did your friend use a fully paid off iPhone as a trade in when starting the program as I can see this being the reason of having lower payment. Mine is setup how you said
 
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what you mentioned is correct. When you upgrade and trade in your old phone, it closes out the loan and you start fresh. Your friend is mistaken and providing incorrect information.

Even if you finance it(not on iPhone upgrade program) when you trade it in after 12 months, you will get a credit for the phone but remember the outstanding amount is still due at that time so you will have to payoff the loan with that credit and most probably the credit is going to be lower than the outstanding amount. Hope that helps.
Yea maybe he is paying off the old one and doing a regular trade in?
 
Yea maybe he is paying off the old one and doing a regular trade in?
yeah but this would not cost him 50% off on the phone.

I upgrade after 2 years and I am on iPhone Upgrade Program. when I upgrade I trade in the old phone which is paid off by then and I get the credit.
 
Hey all and thanks for the responses.

He is actually the one who introduced me to the program a couple of years ago.

He sent me a screenshot of his apple store app showing the lower payment, which triggered this whole thing.

I believe he actually may have had the program, paid the phone off in full, and used that as a trade in on his new phone while just putting it on his apple credit card.


From what I have gathered, when using the normal Upgrade program with a normal (non apple) credit card, you can pay monthly for the phone, and when you go to upgrade again you get nothing in return and only get some type of trade in value credit when the phone you are trading in is fully paid off.

I'm not sure how I didn't realize this is a pretty bad deal before, but upgrading every 12 months is probably the worst thing you can do because you are gaining nothing in the end.

I am going to just pay off the remainder of my 13 pro max, ($500) and keep it for awhile and eventually do an actual Trade in on it to get something back, or sell it.

Thanks all
 
I believe he actually may have had the program, paid the phone off in full, and used that as a trade in on his new phone while just putting it on his apple credit card.l
If you want a new phone yearly, IUP gives you that with a reasonably low monthly cost, and a low-hassle trade-in process.

If you want to save the most money, pay off your iPhone - use it for as long as you can - and then take the trade value (or better yet, sell it outright) and buy a new one. It’s a lot more hassle, and you don’t get a shiny new phone every year.

The answer to which one is the best, is a personal one. It depends on how YOU want to proceed.
 
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