Buy and sell within a week or so...is this a good idea?

Discussion in 'iPhone' started by digitalduck, May 28, 2010.

  1. digitalduck macrumors regular

    Joined:
    May 8, 2008
    #1
    Ok, long story short...i have 3gs my wife does not....

    both of our etf's are $125.

    I figure sell my 3gs now for $400 ish... within the next few days because the etf goes up June 1st...

    Then go into walmart say last day of May buy my wife and I 3gs's then when 4g comes out turn around and sell and take the 175 etf and get two 4gs?

    since we'll be selling two 3gs 's instead of one we should easily be able to afford two 4gs instead of waiting and then just selling mine at that point..

    ideas?
     
  2. elephunkman macrumors 65816

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    Boston
    #2
    The ETF raise is only for new customers and existing customers who open a new contract after June 1st. Your ETF won't automatically raise on June 1st from 125 to 325
     
  3. Geckotek macrumors G3

    Geckotek

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    #3
    Seems like an awful lot of hassle. Why on earth would you go through all this?
     
  4. digitalduck thread starter macrumors regular

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    May 8, 2008
    #4
    Well, I guess i look at it this way... my wife only has an lg vue..i want t oget her an iphone but only have mine to sell....if i get two, then that greatly increases my return on investment when I turn around and sell it to someone who wants a contract free phone..then i can turn around and go buy two 4gs instead of only being able to afford one...

    elephunkman......exactly that is why I would want to open hte lines/contract before the 1st
     
  5. Geckotek macrumors G3

    Geckotek

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    #5
    Did you do the math? How much net cash do you expect this to bring in toward the new phones?
     
  6. amann76 macrumors 6502

    amann76

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    MacWorld USA
    #6
    you are an idiot... just give your wife your 3gs and get 4.0 or get your wife a 4.0 and live with your 3gs.
     
  7. digitalduck thread starter macrumors regular

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    May 8, 2008
    #7
    Hmm..expecting this... plently of 3gs's on ebay wiht accessories for 350ish +.... so figure two at that price

    700 - two 4gs at 199 - the etf for both lines 350 (175 x 2)

    so i guess im down $50 but its better then just using profit from selling mine only and having to buy two 4gs at thta point..
     
  8. slider5634 macrumors newbie

    Joined:
    Dec 28, 2009
    #8
    Hmmm.... Sounds rather complicated and is a relative gamble. Just keep in mind that the ETF will not be increased for current customers. It will only be applied to new contracts -- which you will probably end up signing a new contract anyway when you upgrade to the new phone.

    Better to just wait until the new phone is released and then sell yours. You'd be amazed what people will pay for an iPhone that's not tied to a network or contract. I ended up selling my 1.5 year old 3G for $200 -- same amount I paid to buy the phone originally.

    As for your wife, no need to go buy her a 3GS. The price you'll get out of it compared to the price you'll pay + etf is not worth it; you'll probably come out either behind or dead even. Better to wait until the new phone and then just buy it once.
     
  9. chris975d macrumors 68000

    chris975d

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    Sep 21, 2008
    Location:
    Georgia, USA
    #9
    You're talking about taking the ETF penalties to cancel the contracts...but doesn't AT&T lock you out of signing a new contract for a certain period if you cancel a line and take the ETF penalty (I seem to remember it as either 3 or 6 months...someone correct me if I'm wrong)?
     
  10. outphase macrumors 65816

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    #10
    If you use your wife's upgrade to get an iPhone at walmart, expect a $399 price tag on her line. The ETF requires an actual termination to be eligible. Also, how much do you value your phone numbers because you'll lose them.
     
  11. digitalduck thread starter macrumors regular

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    May 8, 2008
    #11
    Good advice Slider.... regarding the etf however, it starts June 1st....so if i signed end of may then the etf does not go up for when i get the 4g
     
  12. digitalduck thread starter macrumors regular

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    May 8, 2008
    #12
    Not if I open a new line, transfer number to that line and then close oringal...wheew...
     
  13. elephunkman macrumors 65816

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    #13
    I believe it's 90 days.
     
  14. digitalduck thread starter macrumors regular

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    #14

    Ahhh.... there's the wrench in the plan.. ok, thanks :)
     
  15. elephunkman macrumors 65816

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    #15
    This is what I'm doing though. Open new line, after that, cancel current line. No 90 days lol
     
  16. digitalduck thread starter macrumors regular

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    May 8, 2008
    #16
    Exaclty....but could I do that wiht both lines?

    sell my 3gs....

    open two 3gs lines, transfer numbers, close old lines

    can I do that wiht my acount though since its the "master acount"


    Then repeat wiht 4g?
     
  17. beamer8912 macrumors 65816

    Joined:
    May 30, 2009
    #17
    The problem is you're opening like 4 new lines total. Even though you're on the family plan I don't think AT&T will allow you to do that, otherwise people could open an infinite number of lines and sell the phones, much like you're trying to do now. You'll probably run into that 90 day rule (or however long it is).

    Also, I didn't know you could transfer numbers between contracts. I know you can keep your number when signing a new contract, but I didn't think you could simply trade numbers.

    I'd talk this over with AT&T. The idea is sound logically, but you'd want to make sure you can do everything you want to.
     
  18. digitalduck thread starter macrumors regular

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    May 8, 2008
    #18
    True True...shoot, hmm, im trying to get my wife a 3g but it may be best to wait until march 2011 whn our 2 year is up... or i can sell mine and thne just et one 4g i guess..we'll see
     
  19. Xtgirl macrumors regular

    Joined:
    Jul 15, 2007
    #19
    I think if you wanted to Etf out of your current lines.. They may not give you equipment discounts in the name of the person who cancelled...

    But what do I know...my head is spinning from the complexity of your plan:)
     
  20. digitalduck thread starter macrumors regular

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    May 8, 2008
    #20
    LOL....i actually lauged at your last comment XT :) (in a good way) no im not trying to sell 4g's simply trying to sell my current3gs, open two 3gs lines cancel other lines, then sell 3gs down the road and et two 4gs...but will have to do process of lines opening and closing again at that point.....hmmm

    IF that wont work then i could at leat get my wife a 3gs from walmart andthne ill sell mine and get a 4g....but shell prob want to wait in case it is true that it will have video chat.

    if this would work im trying to get over to wamlart before June 1st otherwise its pointless
     
  21. thelatinist macrumors 603

    thelatinist

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    Location:
    Connecticut, USA
    #21
    Your calculations are way off; you will not be making money on this transaction. First of all, the $50 you cite yourself being down is on top of what it would cost you to upgrade directly, not instead of it. Secondly, you are forgetting taxes and activation fees, both of which will be doubled in your scenario, as well as the three weeks of extra service you will have to maintain on your old lines after opening your new ones (since if you cancel before 30 days you will be required to return your 3GSes). By my calculations, you will be losing quite a bit on this transaction over just selling your phone and using it to pay the upgrade.

    Simply selling your phone and using the money to upgrade in June, you and your wife will will pay:

    2 x $199 4G
    2 x $36 activation
    $24 Tax (estimate)
    ---------
    $494 Total

    You will take in $400 from the sale of your 3GS, making the total out-of-pocket cost of your upgrade $94 out-of-pocket.

    Using your method, in addition to the expenses listed above, you will have the following costs

    2 x $175 ETF
    2 x $199 3GS
    2 x $36 activation (you will have to activate all four lines)
    $24 Tax on 3GSes (estimate)
    2 x $60 (service on your old lines, which you must keep active for 30 days after upgrade, 3/4 of which is wasted)
    ------
    $964 Total

    In order for what you want to do to make financial sense (that is, it will at least not increase your total out-of-pocket expenses), you must be able to cover all of this additional expense through the sale of your two new 3GSes.

    This means that you will have to net at least $482 on each of those 3GS phones. If you sell your phones for $700 you will actually be paying an additional $264 out-of-pocket for these upgrades.
     
  22. digitalduck thread starter macrumors regular

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    May 8, 2008
    #22
    I just got off the phone wiht customer care:

    Here is the scoop....

    My phone is up for a 2yr upgrade early I guess since its an iphone...so NO ETF....

    I can open a new line, switch sim cards and leave line open so wife can keep same number and have 3gs.... i will have to leave that line open for awhile like 60days or so and then pay the etf which would be 175 if i go to walmart and pick it up this weekend...the lady was like "if you go to walmart youll find something interesting"

    so there was some issue with the number being ported over since it came from a different carier or something.....but im working on it... then sell mine come June or whever and upgrade with no etf...

    HOWEVER...the one caviat is that if it does in fact come wiht video chat then she'll want that so she may have t owait till march 2011..or sell her 3gs wiht 175 etf...
     
  23. Geckotek macrumors G3

    Geckotek

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    Jul 22, 2008
    Location:
    NYC
    #23
    Didn't you say $400 for a 3Gs earlier? So that should be $800 for 2 for a total of $164 out of pocket. Right?
     
  24. thelatinist macrumors 603

    thelatinist

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    Location:
    Connecticut, USA
    #24
    I was using his numbers. I assume the $50 discount was for timing, since his current 3GS would be sold now and could be expected to fetch more than the other two, which would be sold after the 4G is released.
     
  25. digitalduck thread starter macrumors regular

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    May 8, 2008
    #25
    So walmart buy new 3GS
    97 + 125 cancelation fee

    + activation $30 = 252 ish

    On my end... sell my 3gs for 375 with apps accessories etc..

    buy new 4g 199 etc.. even if I am shelling out $75 or whatever outof pocket, its still an alright transaction..

    It will mean she'll have to keep 3gs for awhile or go through same ordeal to get 4g or shell out 175 (assuming i buy by 5/31)


    Im not saying its a perfect plan, but I know she wants an iphone regardless and she wont care if its just a 3gs lol
     

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