trade in you financed iPhone and then start a new cycle. So you basically pay £600 for a £900 iPhone. When you could buy it outright then sell in a year for £500 ish. so that would save you £200? what am i missing here, how is this the better option?
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
iPhone Upgrade Programme coming to UK tomorrow.
- Thread starter Totalkharnage
- Start date
- Sort by reaction score
Why not, when looking at the 128GB configs, it seems more sensible using the upgrade program rather than paying outright £819
If you read my other posts in this thread I explain why. But basically, by buying the phone outright on interest free credit, you can essentially make the same payments (or whatever payments suit you, whether it be more a month or less a month) and then at the end of the year you can actually keep your phone, and sell it to go towards your upgrade, rather than having to give it back to Apple when you upgrade 'early' as part of the their programme.
There are no benefits to using the Apple programme over the credit card method I have described as long as you have the discipline to manage your credit card properly.
That depends, I think. I think the Apple upgrade is better than buying it a phone then selling the phone, as the value typically depricates around 70% so by doing this program it's the same, or a little cheaper which is enough for me to use this (imo) as I typically buy a new iPhone every year.
iPhone 7+ Gloss Black, 128GB. Cost (£819)
£49 upfront fee, £44.45 per month and upgrade after 11 payments. Cost = £537.95
Selling the iPhone 7+ after a year = £573.30, probably less.
Thats my thought...
You're not taking into account the credit needed for your next iPhone though. By upgrading early with the Apple scheme you are basically starting your two year financial commitment again.
With my method this time next year when you upgrade you can essentially get the new iPhone at an outright cost of £300-400 by selling this years model.
You then only need to put a small amount of the purchase on credit (or none if you can afford a few hundred outright). And you are then free of any large financial commitments to pay for your phone
What do you mean? You would essentially start the plan again, with the new iPhone, the financial commitment would be the exact same as the previous year but with a new iPhone. Your method would require having to sell the phone then adding 3-400 more you're right. Im just thinking on a seperate debit card, put £600 and leave it and let the iPhone payments come out of it then trade it in, get the new one. Rinse and repeat. I don't see anything wrong with it if you usually upgrade every year. For people that don't upgrade very year I do see which this deal does not seem very good
I still don't think you've fully understood the long term financial benefits of doing it the way i've described (i've done it this way every since the iPhone 5 was released and have upgraded each year at a very affordable cost.)
Pick the method that works best for you, if you feel like the iPhone Upgrade Programme is the best option for you then by all means go for it, i'm not trying to talk someone out of doing what they think is best, I was just trying to share what I feel is a great alternative way of upgrading each year
So if you get an iPhone 7 plus
- £44.45 pay for 11 months - £488.95 for the 11 months.
- Give the phone back to Apple
- Upgrade the phone and start paying the £44.45
Essentially you've lost the £488 you paid in the first 11 months?
Doesn't make sense to me?
- £44.45 pay for 11 months - £488.95 for the 11 months.
- Give the phone back to Apple
- Upgrade the phone and start paying the £44.45
Essentially you've lost the £488 you paid in the first 11 months?
Doesn't make sense to me?
Hi Andy (or anyone) where\how do you sell your phone in the Uk to get the best price to finance your new phone?
My 6s+ 64 has depreciated by 40% this year so assuming the same for the 7+ and that the price remains the same..
Upgrade programme yearly cost - £537.95
Sell and purchase outright yearly cost - £327.60
The Upgrade programme includes AppleCare+ but I don't need that.
So let's say after 2 years if you upgrade after 12 months you would pay apple £1,284.80 this includes 24 months instalments + 2 x £49 upgrade cost.
Where as if you buy iPhone 7 & whatever comes out next year outright you would pay £1,838. But let's assume you look after your phone and it is in good condition you could sell each phone for £500 so you would only actually be spending £838.
Surely that is the best way to do it. Obviously you miss out on apple care + but even if you add that in the total cost would be £1,076. Still a saving of £200.
My main worry with the financing is when the next phone comes out how easy is it to upgrade on launch day.
Yes assuming you have some form of credit commitments like direct debits in your account
Not forgetting that you will have to commit to the full 20 months payment at some point when you decide not to upgrade again where as with a credit card it's a lot more flexible as you don't have that 20 month commitment.
OK after reading through this thread, my mind is boggled with numbers. Can anyone help me out and see if this makes sense? In my head it does but want to double-check I'm not missing anything.
So, £819 for iPhone 7+ 128gb.
Trade in current 6S+ for £400 (price already locked in through Mazuma).
Therefore, amount to pay on credit card = £419 (£819 - £400).
Pay this off by next September, then do exactly the same as the above for iPhone 8 and start fresh?
(My main concern is checking this is BETTER and cheaper than Apple's Upgrade Programme).
So, £819 for iPhone 7+ 128gb.
Trade in current 6S+ for £400 (price already locked in through Mazuma).
Therefore, amount to pay on credit card = £419 (£819 - £400).
Pay this off by next September, then do exactly the same as the above for iPhone 8 and start fresh?
(My main concern is checking this is BETTER and cheaper than Apple's Upgrade Programme).
Where can you sell your phone to get 60% of its value? The phone buying sites i've checked are nearer to 50% and auction sites like ebay are hit and miss so you'd never know what you'd get.
It is cheaper if you have a 0% credit card or atleast low. Also the exchange programme means you have to hand your old phone back if you upgrade before the 20 months are over, so essentially your fee that you pay is only a rental fee if you do this and therefor you have no phone to sell on.
Never the same each year really! Usually either eBay or to a family member/friend who isn't fussed about having the newest.
I have used eBay before and never had any problems although I have seen countless stories on here from people who have been scammed so be very vigilant if you choose to do this.
The time my phone wasn't in a great condition I just used mazuma mobile (not a great price but the phone condition wasn't great so I didn't want to risk selling and having the buyer unhappy).
Last year I had a friend who wanted a 6 Plus so he bought mine off me.
If you have to pay £419, its better than a 20 month contract at £38.50 a month which is £770 plus £49 which comes to £819 before you own the phone. Remember that although you can upgrade every year you are still tied in to a 20 month contract
