Ah I see, I was trying to work out whether it was on top or not. I guess that's the first month of payment?
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iPhone Upgrade Programme coming to UK tomorrow.
- Thread starter Totalkharnage
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Ah I see, I was trying to work out whether it was on top or not. I guess that's the first month of payment?
OK so tomorrow morning if you want to use either of the 0% payment option you need to reserve your desired phone for collection in store. You will be able to pick which plan you want when you get there on the 16th.
You're basically paying 21 instalments but only 20 of those form your credit loan. In this example the iPhone 7 costs £599 + AppleCare+ at £119. Total purchase £718. Pay your £49 and reduce the remaining cost to £669 and this is the portion which is then payable over 20 monthly instalments of £33.45
Hi guys,
I've done a bit of calculation for myself and thought I'd share it with you comparing the iPhone Upgrade Program costs with a 0% credit card.
It can be viewed here:
https://drive.google.com/open?id=1hpmEkOYKhymFvfQZp8Jh0dcdO2_PVTtRCkgWO_8Tgu8
If the OP wants to post a link to it on the first post so others can view, feel free. The short answer is that the credit card method works out better, although you'll have to be sure you can sell the iPhone above a certain amount (see the document). Everyone will be different - some would rather pay out more for the simplicity of the iPhone Upgrade Program, while others will rather go through a bit more effort and save some money.
Hope it's useful for others
^^^^^^^^^^^^^^^^ IGNORE for now ^^^^^^^^^^^^^
Didn't realise that the upgrade option is only available for those taking out the plan with AppleCare+ included
I've done a bit of calculation for myself and thought I'd share it with you comparing the iPhone Upgrade Program costs with a 0% credit card.
It can be viewed here:
https://drive.google.com/open?id=1hpmEkOYKhymFvfQZp8Jh0dcdO2_PVTtRCkgWO_8Tgu8
If the OP wants to post a link to it on the first post so others can view, feel free. The short answer is that the credit card method works out better, although you'll have to be sure you can sell the iPhone above a certain amount (see the document). Everyone will be different - some would rather pay out more for the simplicity of the iPhone Upgrade Program, while others will rather go through a bit more effort and save some money.
Hope it's useful for others
^^^^^^^^^^^^^^^^ IGNORE for now ^^^^^^^^^^^^^
Didn't realise that the upgrade option is only available for those taking out the plan with AppleCare+ included
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I just want to make 100% sure I understand the programme.
I currently have an iPhone 6 on contract with O2 and the contract ends this month.
If I signed up to the upgrade programme my understanding is that I'd pay £49 upfront and then £44.45 a month for a 128GB iPhone 7+. Next year, I could hand the 7+ back and get whatever new model is released for no additional fee (just continuing to pay the £44.45/month).
Is that correct?
Would Applecare+ extend every year or would that need repurchasing if I traded in next year? Presumably the £44.45 can go up if the 7S+ ends up being more expensive?
Will Apple take my current iPhone 6 and apply credit against my monthly payments? Or am i better selling it to O2 recycle or similar?
Thanks!
I currently have an iPhone 6 on contract with O2 and the contract ends this month.
If I signed up to the upgrade programme my understanding is that I'd pay £49 upfront and then £44.45 a month for a 128GB iPhone 7+. Next year, I could hand the 7+ back and get whatever new model is released for no additional fee (just continuing to pay the £44.45/month).
Is that correct?
Would Applecare+ extend every year or would that need repurchasing if I traded in next year? Presumably the £44.45 can go up if the 7S+ ends up being more expensive?
Will Apple take my current iPhone 6 and apply credit against my monthly payments? Or am i better selling it to O2 recycle or similar?
Thanks!
They will take your iPhone as a trade in but you would possibly get more money for it elsewhere.
You will have to pay the £49 fee when you upgrade to the iPhone 7 Plus. You wouldn't need to purchase AppleCare+ every year as it's included in the monthly fee Apple are charging you. Most likely the £44.45 could go up if Apple increase their iPhone retail price next year, but as it's already so high this year it's possibly unlikely that it would go up again.
You can check how much Apple will pay for your iPhone 6 here: http://www.apple.com/uk/iphone/trade-up/ The best option is to sell it privately yourself as these recycling companies don't pay out much. Also, you could consider going for the cheaper option without AppleCare+ if you don't need it.
You can, but you are then unable to upgrade each year.
If you want the option to upgrade each year, you must take the option with AppleCare+
[doublepost=1473345583][/doublepost]
Yes (or whatever the cost is for the model you decide). You'll hand back the 7+, at which point your current finance plan will be closed (effectively, Apple will pay off the remaining balance) and you'll start a new agreement to get the 7s+.
AppleCare+ is bundled as part of the agreement. So yes, it would continue.
Correct. Or down, if you decided to get a cheaper model.
Yes, you can trade it in with Apple.
Can I trade up my current smartphone and buy my new iPhone with the iPhone Upgrade Programme?
Yes. If you sign up for the iPhone Upgrade Programme in an Apple Store, the trade-in credit will be applied to your debit or credit card.
Although I'm unsure if it would be the best value. Probably best to look at Envirofone etc.
No you cant. You can take advantage of the 0% finance over 20 months but it doesnt include the upgrade options.
However you can sell the phone after 12 months an pay off the remaining debt with the money and start again with the next iphone. Which is what i plan on doing.
[doublepost=1473340462][/doublepost]
As mentioned above the credit score quoted by Experian, Equifax and Call Credit is fairly meaningless.
Each credit provider uses their own methods in scoring.
Callcredit offer Noddle and Clearscore use Equifax and both are free. Might be worth checking them out to make sure everything is correct and up to date?
Things like income to debt ratio, the amount of credit searches in the last six months and even only ever having one to no credit cards etc can also play a part in being declined.
My credit history has been less than "perfect" in the past but have been successful twice with Barclays Partner Finance.
Hope that helps?[/QUOTE]
Thanks, that helps! I'm assuming tomorrow (preorder day) I just need to reserve a slot and don't need to specify whether I'm going through the upgrade programme or not? Then on launch day I just go to store, try the upgrade programme, if it goes through great, but if not I can just buy the phone outright myself?
As mentioned above the credit score quoted by Experian, Equifax and Call Credit is fairly meaningless.
Each credit provider uses their own methods in scoring.
Callcredit offer Noddle and Clearscore use Equifax and both are free. Might be worth checking them out to make sure everything is correct and up to date?
Things like income to debt ratio, the amount of credit searches in the last six months and even only ever having one to no credit cards etc can also play a part in being declined.
My credit history has been less than "perfect" in the past but have been successful twice with Barclays Partner Finance.
Hope that helps?[/QUOTE]
Thanks, that helps! I'm assuming tomorrow (preorder day) I just need to reserve a slot and don't need to specify whether I'm going through the upgrade programme or not? Then on launch day I just go to store, try the upgrade programme, if it goes through great, but if not I can just buy the phone outright myself?
Hi Hustler. Thanks for this - really useful. Have you included the cost of Applecare + in both routes?
Really? That means the iPhone Upgrade Program is worse than I thought. In that case, it is almost a no brainer to buy through a credit card for those not interested in AppleCare+. Seems like Apple are trying to force customers into buying into their AppleCare+ plan as though the increased prices weren't enough.
[doublepost=1473346639][/doublepost]
I think you'll now have to ignore that post completely as it appears that the upgrade option is only available for those taking out the plan with AppleCare+, which I didn't factor in my calculations. So for those that are not interested in AppleCare+, you'll 100% be better off purchasing through a credit card in my opinion.
Well done for doing that. It certainly explains both methods very clearly. Personally I think a 128GB 7 Plus in the right condition would sell for quite a bit more than £400 (I got over £400 for my regular size 6S 64GB).Hi guys,
I've done a bit of calculation for myself and thought I'd share it with you comparing the iPhone Upgrade Program costs with a 0% credit card.
It can be viewed here:
https://drive.google.com/open?id=1hpmEkOYKhymFvfQZp8Jh0dcdO2_PVTtRCkgWO_8Tgu8
If the OP wants to post a link to it on the first post so others can view, feel free. The short answer is that the credit card method works out better, although you'll have to be sure you can sell the iPhone above a certain amount (see the document). Everyone will be different - some would rather pay out more for the simplicity of the iPhone Upgrade Program, while others will rather go through a bit more effort and save some money.
Hope it's useful for others
^^^^^^^^^^^^^^^^ IGNORE for now ^^^^^^^^^^^^^
Didn't realise that the upgrade option is only available for those taking out the plan with AppleCare+ included
The current price at mazuma mobile for a 64GB 6S+ is £400, so selling privately has the potential for a lot more.
Another advantage of the credit card method is that you have the option to clear the entire amount within 12 months if you want/can afford to. I usually do this if I get some birthday money as a gift etc. You're then paid off by the time it comes to upgrade and your next upgrade is then even less to pay a month.
But if you do upgrade after 12 moths you pay ANOTHER 20 months.
So in effect your always behind the payments.
If you only buy one phone thens its 20 months interest free.(Best deal IMOP)
If you upgrade after 12 months they take you phone and add 20 months payments onto it again.
So after 32 months of payments you will have only one 20 month old phone if you upgrade.
Please someone correct me if I have read it wrong.
So in effect your always behind the payments.
If you only buy one phone thens its 20 months interest free.(Best deal IMOP)
If you upgrade after 12 months they take you phone and add 20 months payments onto it again.
So after 32 months of payments you will have only one 20 month old phone if you upgrade.
Please someone correct me if I have read it wrong.
This is correct on the upgrade plan. If you take the lower payment 0% finance plan you cant upgrade after 12 months. You can sell the phone and pay off the debt and start again
If you always plan to upgrade every year then you're only paying 12 months so it's not "another" 20 months as you never paid the first full 20 months.
If I've understood it correctly, you're effectively renting an iphone each year for about half (12/20ths) the cost of buying a new one.
Scroll down on the upgrade plan page and there is a link that says
"You can also choose to make low monthly payments without apple care+. learn more about iphone payments"
This pops up a window showing this.
You cant upgrade every 12 months but as i said you get 0% finance and can pay off the debt at any time within the 20 months
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Barclays partner finance is great yes however if you're looking to fund through that not via the upgrade program then there is an interest rate be aware it's something like 14.9%
There are three different financing options. The iPhone Upgrade Programme which is interest free, iPhone Payments which is also interest free and regular Apple financing which has 14.9% interest. The first two can only be done in store, the latter can be done online.
TLDR; if you're serious about having iPhone long term, and want to upgrade every year, the upgrade programme is slightly better value when you factor in Applecare+.
There is another way of looking at this longer-term. Let's say, like me, you want the iPhone 7 128GB. Here's how much it would cost up to September 2020.
0% CREDIT CARD WITH ONE YEAR CYCLE:
Total cost is £699 (buy iPhone 7 128GB) + £699 (buy iPhone 7S 128GB) + £699 (buy iPhone 8 128GB) + £699 (buy iPhone 8S) - £400 (sell iPhone 7) - £400 (sell iPhone 7S) - £400 (sell iPhone 8)
= £1596 up to Sept 2020
* You'd pay equivalent of £58.25 per month each year, does not include Applecare
0% CREDIT CARD WITH TWO YEAR CYCLE:
Total cost is £699 (buy iPhone 7 128GB) + £699 (buy iPhone 8) - £250 (sell iPhone 7)
= £1148 up to Sept 2020
* You'd pay equivalent of £29.13 each month over two year period, does not include Applecare, and of course you get two phones instead of four
UPGRADE PROGRAMME WITH ONE YEAR CYCLE:
Total cost is £45 (up front payment iPhone 7 128GB) + £38.45 x 11 (monthly payment) + £45 (up front payment iPhone 7S 128GB) + £38.45 x 11 (monthly payment) + £45 (up front payment iPhone 8 128GB) + £38.45 x 11 + £45 (up front payment iPhone 8S 128GB) + £38.45 x 11
= £1871.80 up to Sept 2020
So the difference between credit card and upgrade programme is £275. The cost of Applecare over four years? £238. It's not a huge difference.
----------------------------------------------
There is another way of looking at this longer-term. Let's say, like me, you want the iPhone 7 128GB. Here's how much it would cost up to September 2020.
0% CREDIT CARD WITH ONE YEAR CYCLE:
Total cost is £699 (buy iPhone 7 128GB) + £699 (buy iPhone 7S 128GB) + £699 (buy iPhone 8 128GB) + £699 (buy iPhone 8S) - £400 (sell iPhone 7) - £400 (sell iPhone 7S) - £400 (sell iPhone 8)
= £1596 up to Sept 2020
* You'd pay equivalent of £58.25 per month each year, does not include Applecare
0% CREDIT CARD WITH TWO YEAR CYCLE:
Total cost is £699 (buy iPhone 7 128GB) + £699 (buy iPhone 8) - £250 (sell iPhone 7)
= £1148 up to Sept 2020
* You'd pay equivalent of £29.13 each month over two year period, does not include Applecare, and of course you get two phones instead of four
UPGRADE PROGRAMME WITH ONE YEAR CYCLE:
Total cost is £45 (up front payment iPhone 7 128GB) + £38.45 x 11 (monthly payment) + £45 (up front payment iPhone 7S 128GB) + £38.45 x 11 (monthly payment) + £45 (up front payment iPhone 8 128GB) + £38.45 x 11 + £45 (up front payment iPhone 8S 128GB) + £38.45 x 11
= £1871.80 up to Sept 2020
So the difference between credit card and upgrade programme is £275. The cost of Applecare over four years? £238. It's not a huge difference.
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