iPhone X Financial Prep (Apple Annual Upgrade)

LarryJoe33

LarryJoe33

macrumors 68030
I will order the iPhone X on the 27th. My current iPhone 7 is over eligible for an annual upgrade. I will basically be 14 payments into it on the 27th for a balance of $370. It is conceivable based on demand that I will be 15 payments into it when it arrives for a balance of $330. I am going to select the upgrade existing when ordering, but I am not sure I am actually going to trade it in. I am going to sell it on my own. My question:

If I select upgrade (vs. a new plan), am I locked/bound to returning it? I believe the new X will just be another interest free loan and I can just pay off the 7?
 
LarryJoe33 said:
I will order the iPhone X on the 27th. My current iPhone 7 is over eligible for an annual upgrade. I will basically be 14 payments into it on the 27th for a balance of $370. It is conceivable based on demand that I will be 15 payments into it when it arrives for a balance of $330. I am going to select the upgrade existing when ordering, but I am not sure I am actually going to trade it in. I am going to sell it on my own. My question:

If I select upgrade (vs. a new plan), am I locked/bound to returning it? I believe the new X will just be another interest free loan and I can just pay off the 7?
Click to expand...

yes you can pay it off and buy it on your own. I am also thinking of doing this!
 
With the iPhone 8 they had an upgrade pre-qualification that you could run. It got you through the credit check and financing before the pre-order went live. I am surprised we haven't seen that option for the iPhone X.
 
Perderder said:
With the iPhone 8 they had an upgrade pre-qualification that you could run. It got you through the credit check and financing before the pre-order went live. I am surprised we haven't seen that option for the iPhone X.
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I'm waiting for that too. Guessing end of this week.
[doublepost=1508262052][/doublepost]
MuGeN PoWeR said:
yes you can pay it off and buy it on your own. I am also thinking of doing this!
Click to expand...
Thanks, I guess I was more worried about checking that box that I am trading up when ordering the X and having the flexibility to not trade it in and pay it off myself. My 7 is mint with box and accessories = >$500 on eBay.
 
Perderder said:
With the iPhone 8 they had an upgrade pre-qualification that you could run. It got you through the credit check and financing before the pre-order went live. I am surprised we haven't seen that option for the iPhone X.
Click to expand...

I hope they bring this pre-approval for existing IUP members to do in the Apple Store app soon! Anxious to lock in the pre-approval.
 
LarryJoe33 said:
I'm waiting for that too. Guessing end of this week.
[doublepost=1508262052][/doublepost]
Thanks, I guess I was more worried about checking that box that I am trading up when ordering the X and having the flexibility to not trade it in and pay it off myself. My 7 is mint with box and accessories = >$500 on eBay.
Click to expand...

you can always say no to the trade in and then you will keep on paying/payoff the loan!
 
vtboyarc said:
I hope they bring this pre-approval for existing IUP members to do in the Apple Store app soon! Anxious to lock in the pre-approval.
Click to expand...

Yes me too. It looks like they sent them out middle of the week of for the 8, so I’m not expecting them until next week. I too will be a lot more comfortable when I have the prequal locked in.
 
Perderder said:
With the iPhone 8 they had an upgrade pre-qualification that you could run. It got you through the credit check and financing before the pre-order went live. I am surprised we haven't seen that option for the iPhone X.
Click to expand...

LarryJoe33 said:
I'm waiting for that too. Guessing end of this week.
[doublepost=1508262052][/doublepost]
Thanks, I guess I was more worried about checking that box that I am trading up when ordering the X and having the flexibility to not trade it in and pay it off myself. My 7 is mint with box and accessories = >$500 on eBay.
Click to expand...

vtboyarc said:
I hope they bring this pre-approval for existing IUP members to do in the Apple Store app soon! Anxious to lock in the pre-approval.
Click to expand...

Jimpilot said:
Yes me too. It looks like they sent them out middle of the week of for the 8, so I’m not expecting them until next week. I too will be a lot more comfortable when I have the prequal locked in.
Click to expand...

Someone in another thread said they opened up the pre-approval on the Tuesday before pre-orders started, so we have a week.

EDIT - I checked my email and have one from Apple on 9/13, which was the Wednesday before.
 
This is exactly where I am at too. I’m hoping my wife will just want my Jet Black 7. Since ordering the phone starts a new loan with citizens one and the trade in closes the old one, I assume by not sending it in you would just end up with both loans.
 
Just don’t send the phone back to them. You can even select that you want to return it when you upgrade but if you don’t return it Apple will simply keep charging you for the phone
 
Do not sell any thing on eBay if your going too sell sell the iPhone on swappa. Trust me you will being saving your self trouble and $
 
snow755 said:
Do not sell any thing on eBay if your going too sell sell the iPhone on swappa. Trust me you will being saving your self trouble and $
Click to expand...
Thanks for the tip. eBay was a friggin nightmare last time around when the 7 came out and selling three 6's. Buyers that bid, win and don't pay or want a return for an issue that wasn't true ("doesn't connect to my wifi"). eBay shows zero loyalty to sellers.
 
LarryJoe33 said:
Thanks for the tip. eBay was a friggin nightmare last time around when the 7 came out and selling three 6's. Buyers that bid, win and don't pay or want a return for an issue that wasn't true ("doesn't connect to my wifi"). eBay shows zero loyalty to sellers.
Click to expand...


Your welcome
 
snow755 said:
Do not sell any thing on eBay if your going too sell sell the iPhone on swappa. Trust me you will being saving your self trouble and $
Click to expand...
At quite a price cut. I’ve sold iPhone 5 and 6+ on eBay was without issues. Besides the 13% cut from fees on eBay and PayPal i still make about 150-200$ more than selling it through those selling apps
 
You can keep it and have 2 loans. When I did the store pick from a 8 preorder, my confirmation email says that if I do not bring my old phone for trade in, my payments will continue.
 
Just to ask this again. When you order an iphone with apple upgrade and fill out the loan information it holds your place for your phone. As long as you get approved. if not your phone is given to someone else per say.
 
Perderder said:
With the iPhone 8 they had an upgrade pre-qualification that you could run. It got you through the credit check and financing before the pre-order went live. I am surprised we haven't seen that option for the iPhone X.
Click to expand...
Does the credit check happen again if you are already on the IUP program?
 
snow755 said:
Do not sell any thing on eBay if your going too sell sell the iPhone on swappa. Trust me you will being saving your self trouble and $
Click to expand...

LarryJoe33 said:
Thanks for the tip. eBay was a friggin nightmare last time around when the 7 came out and selling three 6's. Buyers that bid, win and don't pay or want a return for an issue that wasn't true ("doesn't connect to my wifi"). eBay shows zero loyalty to sellers.
Click to expand...

Swappa is really good or craigslist. If you meet someone on craigslist either meet at a police station or a carrier store. I personally find craigslist to be the most hassle free.
 
mattopotamus said:
Swappa is really good or craigslist. If you meet someone on craigslist either meet at a police station or a carrier store. I personally find craigslist to be the most hassle free.
Click to expand...
This, when selling iPhones I always meet the buyers at a carrier store for their convenience and my safety. If they have a problem and want to meet in some random non busy area, stay away.
 
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