iPhone Upgrade Programme

[wba1990]

Never looked into this before but wondering if people that use it can offer some advice on how it works

If I take out an iPhone 8 Plus via IUP in 12 months time when the XS (call it that for arguements sake) comes out, do I have to pay off the remainder of my 8 Plus? Is there any settlement figure to pay off at all? Or is it just a case of 12 months time, no iPhone hand my old one back and starting paying monthly?

Also does it effect your credit rating? Is it classed as a loan? Or more of an outstanding balance on a credit card type?

Cheers

 

[Shadowbech]

No you do not have to pay off the remainder of your 8 Plus when you get a new one next year. Hence why you trade in your device. Once you pay your 12th payment, you become eligible. First time customer is a hard pull so it will hit on your credit report and yes it's classed as a loan.