iPhone Upgrade Program [MERGED]

[melman101]

I think you are on the right track, but be careful because some states do charge tax on the full amount upfront. Other considerations: monthly carrier fees may vary whether or not you own the phone or it is one of theirs (option 1 vs. option 2), but this will make the upgrade program a better deal (at least currently, but who knows what the carriers will do). Also, at the end of the two years on option 2, you own a phone, at the end of two years on option 1, you have nothing tangible; some part of less than ½ a phone if you are willing to pay for the rest of it, but nothing tangible you could sell.

Yeah but you could technically pay it off and keep it with option 1 but who wouldn't want to get a new iPhone every year. That's what the conundrum is. It's so lucrative LOL.

iPhone once every two years or iPhone once a year lol

 

[FelicityW]

Yeah but you could technically pay it off and keep it with option 1 but who wouldn't want to get a new iPhone every year. That's what the conundrum is. It's so lucrative LOL.

iPhone once every two years or iPhone once a year lol

I agree. The program is designed with the same person in mind as a car lease: the person who wants the current & best, might not be able to afford the whole thing upfront, and the monthly payment is just part of their budget, just like a car payment. They never think in terms of it as being 'done'. When the lease term is up, they get a new car (or phone). Some folks don't mind having something a couple of cycles back, some are pushing the envelope. I am going to do it because I want to bust back down to a regular from a plus and this will be the easiest way to do it (and I probably couldn't wait anyhow, I usually shift my phone to one of my kids and take their upgrade, but neither wants my 6plus). I want to see if Verizon is going to have a sweeter upgrade program because I am not going to change carrier. BTW, my car is paid off and wasn't a lease;-).

 

[edlex]

I agree. The program is designed with the same person in mind as a car lease: the person who wants the current & best, might not be able to afford the whole thing upfront, and the monthly payment is just part of their budget, just like a car payment. They never think in terms of it as being 'done'. When the lease term is up, they get a new car (or phone). Some folks don't mind having something a couple of cycles back, some are pushing the envelope. I am going to do it because I want to bust back down to a regular from a plus and this will be the easiest way to do it (and I probably couldn't wait anyhow, I usually shift my phone to one of my kids and take their upgrade, but neither wants my 6plus). I want to see if Verizon is going to have a sweeter upgrade program because I am not going to change carrier. BTW, my car is paid off and wasn't a lease;-).

In my case I just hate waiting 2 years to upgrade so this gives me the opportunity to upgrade every year at basically the same amount I was paying every 2 years. I've been with Sprint for 18 years and I'm not planning on moving but I do wish they'd let me upgrade yearly so I wouldn't have to join the iPhone UP. Oh well, Sprint's loss is Apple's gain.

 

[flynz4]

It's like a car lease because at the end of the term - 1 year - you do not own the phone. If you want to keep the phone, you will pay more, either by continuing to pay monthly, or paying a ballon buyout amount, basically the 'residual'. If you trade it in (or 'up' as it were), there is no additional cost, you get a new phone and keep paying approximately $32-42/month for evermore, until you get out of the program by continuing to pay until the phone is yours without taking the benefit of a new phone, or buy it out.

I believe you are incorrect. The term is NOT 1 year... the term of the financing is two years. At the end of that 24 month term, you absolutely own the phone. From that perspective... it is exactly the same as buying the phone & Applecare+ and financing it with a 24 month 0% interest loan.

Additionally, once you have paid of the first 12 months of the loan... you can optionally trade the phone in against a new phone, and have the remaining 1/2 of the original loan dismissed. Of course, you do not have to trade it in... you could continue to pay off the remaining monthly payments, or you could pay off the balance in full... and in either case, you still own the phone. So basically... in addition to offering a 0% interest 24 month loan... they also offer a guaranteed buy-back value of 1/2 price, half way through the term of the loan.r

Things could get a bit complicated if for example, Apple waited 18 months to offer the iPhone 7. You would need to pay 3/4 of the loan... and still only get 50% of the value of your original purchase refunded if you chose to trade it in. Likewise, if Apple released the iPhone 7 after just 6 months, you would need to pay a 6 month balloon payment, before your original phone was eligible for trade-in.

The above is my interpretation of program... so if I am correct, the analogy to a car lease is not quite accurate.

/Jim

 

[nrvna76]

It's not that

Yeah but you could technically pay it off and keep it with option 1 but who wouldn't want to get a new iPhone every year. That's what the conundrum is. It's so lucrative LOL.

iPhone once every two years or iPhone once a year lol

I think I figured it'd cost me an extra $200 per year or so to upgrade yearly rather than every two, and I don't have to try to resell it. To me that's worth the extra cost. Plus I like that AT&T would have no hold on me.

 

[sincere11105]

The reservation is only for people doing the Upgrade program with apple I believe, you are required to go into the store for a credit check! if you're buying through a carrier or buying outright you can have it delivered then.

I spoke with a apple rep and they stated that I can buy the phone outright if I decide not to do the upgrade with the reservation

 

[rog]

Has everyone who made an appointment with the app and got a confirmation message in Safari (which the app sends you to) gotten an email or have some not gotten it?

 

[bluemonkeyguy]

Multiple people in this thread have stated that Apple reps told them its not like a traditional credit check.

https://forums.macrumors.com/thread...d-for-the-new-iphone-upgrade-program.1913890/

I spoke with someone from Apple yesterday and she told me something I am having a major problem believing. She said that it's not really a credit check like a normal one. You make an appointment (I don't remember if this is when you pick up the phone or not) with the credit or debit card you plan to use. They check to make sure that you have enough funds on that card to pay 3 installments. If you do, you are fine. That's it. I'm going to call today and speak with someone else because again I'm not believing this.

I was told the same thing!

Thoughts??

 

[Oharsh1]

Can someone help me understand this. Sorry if this is a dumb question, but when it mentions that a credit card is required does that mean a credit card or debit card or does it mean just an actual credit card. Don't really have a credit card

Says credit card only on term and conditions page

 

[Oharsh1]

Has everyone who made an appointment with the app and got a confirmation message in Safari (which the app sends you to) gotten an email or have some not gotten it?

I got an email, but it doesn't show that I have any reservations in the Apple Store app

 

[edlex]

I got an email, but it doesn't show that I have any reservations in the Apple Store app

Same with me. I guess they will verify through our Apple ID

 

[sincere11105]

Says credit card only on term and conditions page

I spoke with a rep and your they confirmed no credit check. Valid credit card. Doesn't really make sense though

 

[MuGeN PoWeR]

I spoke with a rep and your they confirmed no credit check. Valid credit card. Doesn't really make sense though

i just talked to apple rep and they said the carrier is going to do the credit check. and i am like i am getting the phone from apple. and credit check is done by the carrier. are you smoking pot? LOL

 

[Oharsh1]

When I reserved mine, the  Upgrade Program wasn't available as an option at all so I went through and reserved for full price. Now I just called  and asked if I can change it when I go to the store, they're telling me no, that I have to go a store today and ask them to cancel that appointment and create another one for me. Only problem with that is the available appointments are on the later side of the day now which I can't make.

So I guess I'll just take a chance and go there and see if they can change my purchase from full price to the  Upgrade Program. I have their Barclay's Credit Card anyway so I'll be interest-free for 2 years for a full price purchase of an iPhone.

I called yesterday and apple rep I talked to said I could do the Apple Upgrade Program even though I selected full price when I pre ordered.

 

[Oharsh1]

There seems to be quite a few of us in the same boat. I don't think the problem is switching from paying in full to the upgrade program but whether or not it's the same exact model. I ordered T-mobile and am assuming that there's only one model and the only difference is how you finance it.

According to the Apple Rep I talked to you will be able to change to Apple Upgrade Program when you pick up your phone.

 

[0970373]

i just talked to apple rep and they said the carrier is going to do the credit check. and i am like i am getting the phone from apple. and credit check is done by the carrier. are you smoking pot? LOL

That person def doesn't know what they are talking about. lol.

 

[Oharsh1]

I don't think this is accurate. Let's say you DID choose the Upgrade Program and was denied due to credit. I don't see them just saying, "Sorry, we aren't going to offer you another way to buy it".

I would think the same process applies when picking the full price at reservation. When selecting the full price option, you were also given the monthly cost for the device in the same window. This leads me to believe we can change our payment to whatever we want during the appointment as there was no way to select the Upgrade Program during the checkout and no card info needed to be entered.

I sure hope we can change it as I saw after that it REQUIRES a credit card and a debit card will not work. I'm not concerned about the credit check as that's fine, but I can't have a CC sent to me before launch. So as it stands now, I have one reserved for me but will likely be trying to change it to AT&T's Next program.


EDIT* I wonder if Apple will allows us to apply for their Barclays card in-store and use that. Now that would be nice.

I was told by Apple that we could change from Full Price to Apple Upgrade Plan.

 

[Shadowbech]

Has everyone who made an appointment with the app and got a confirmation message in Safari (which the app sends you to) gotten an email or have some not gotten it?

I got my e-mail when I used Safari to put in a reservation for pick up using the iPhone UP link. So my iPhone is reserved.

 

[Shadowbech]

I got an email, but it doesn't show that I have any reservations in the Apple Store app

Same with me. I guess they will verify through our Apple ID

I think it's particularly because we reserved though the iPhone UP link. And doing so it didn't ask us for any shipping info or our CC info so therefore it doesn't appear on the My Reservation or under "orders".

However if you reserved it through the pre-order page and choose to pick up in store, then those would appear because you already paid for it at the time of check out.

 

[PatrickNSF]

Still not a lease. Just 24 month financing with a guaranteed trade value. You aren't required to trade in.

Agreed. It is nothing like a lease. Frankly, I'm not sure why you wouldn't do the upgrade program if you were otherwise going to purchase the phone off contract at full price and purchase Apple Care+. You have 0% financing, and you have an easy way to get rid of the phone in a year should you decide not to sell it yourself. I just don't see the downside.

 

[nrvna76]

Agreed. It is nothing like a lease. Frankly, I'm not sure why you wouldn't do the upgrade program if you were otherwise going to purchase the phone off contract at full price and purchase Apple Care+. You have 0% financing, and you have an easy way to get rid of the phone in a year should you decide not to sell it yourself. I just don't see the downside.

Exactly. You could probably sell the phone before you even pay the rest of the contract if you choose. That's my plan for my iPhone 6 on NEXT. It's just another option. Options are good.

 

[sincere11105]

i just talked to apple rep and they said the carrier is going to do the credit check. and i am like i am getting the phone from apple. and credit check is done by the carrier. are you smoking pot? LOL

How am I the one smoking pot? Read what I said. Are you on crack?

 

[MuGeN PoWeR]

How am I the one smoking pot? Read what I said. Are you on crack?

i never said you are smoking pot. i meant the apple rep who told me that the carrier will go a credit check was smoking pot lol.



ps if they are not going to have a credit check then how is it going to work? how does one get approved or anything?

 

[nrvna76]

Possibly just confirming you have an active post paid line and a credit card is enough...?

 

[sincere11105]

i never said you are smoking pot. i meant the apple rep who told me that the carrier will go a credit check was smoking pot lol.



ps if they are not going to have a credit check then how is it going to work? how does one get approved or anything?

Then my apologies. I feel like we are getting different responses.l from different reps. Anyone have Tim's number?