I currently have an iPhone 6S, 64G that I own outright. I am thinking about buying an iPhone 8 on AT&T Next and upgrading to the "new model" iPhone (X or its successor) sometime next year.
Apple says I can get $215 from their iPhone Trade Up program towards a lower cost for monthly payments on an AT&T Next Plan.
On the AT&T Next 12 Plan, AT&T says I can trade in a phone after 50% of the retail value is paid (usually 12 months).
Let's say I want to buy a 64G iPhone 8 at $699. Normally the AT&T Next payments are $29.13 per month ($699/24 months). I would be able to give the phone back to AT&T for an upgrade in 12 months.
However, if I trade in my 6S via Apple, I get $215 off the retail price for the iPhone 8. This brings the cost down to $484, which would result in payments of $20.17 per month.
At that point, could I upgrade the phone after 12 payments of $20.17 (which would mean I paid $242 to AT&T) or 7 payments of $20.17 (which mean I paid $141.17 to AT&T)? I'm asking because $141.17 + $215 is equal to $356.17, or more than 50% of the "retail value" of the iPhone 8.
Apple says I can get $215 from their iPhone Trade Up program towards a lower cost for monthly payments on an AT&T Next Plan.
On the AT&T Next 12 Plan, AT&T says I can trade in a phone after 50% of the retail value is paid (usually 12 months).
Let's say I want to buy a 64G iPhone 8 at $699. Normally the AT&T Next payments are $29.13 per month ($699/24 months). I would be able to give the phone back to AT&T for an upgrade in 12 months.
However, if I trade in my 6S via Apple, I get $215 off the retail price for the iPhone 8. This brings the cost down to $484, which would result in payments of $20.17 per month.
At that point, could I upgrade the phone after 12 payments of $20.17 (which would mean I paid $242 to AT&T) or 7 payments of $20.17 (which mean I paid $141.17 to AT&T)? I'm asking because $141.17 + $215 is equal to $356.17, or more than 50% of the "retail value" of the iPhone 8.