iUP Equity Question

[CAWjr]

I am 12 months into my iPhone 7 and I am in the Apple iUP program. I plan to upgrade to a new phone when they are released. My question is what happens to the 12 months of equity that I have paid into my current phone? Do I get a trade in credit against the monthly fee of my next phone, or do I just lose all that equity like a car lease? I ask because if I were to keep the 7 for another 12 months, I own it outright, but if I give it back now, and I get nothing for it, I question the benefit of staying in the iUP.

 

[rui no onna]

I am 12 months into my iPhone 7 and I am in the Apple iUP program. I plan to upgrade to a new phone when they are released. My question is what happens to the 12 months of equity that I have paid into my current phone? Do I get a trade in credit against the monthly fee of my next phone, or do I just lose all that equity like a car lease? I ask because if I were to keep the 7 for another 12 months, I own it outright, but if I give it back now, and I get nothing for it, I question the benefit of staying in the iUP.

Like a car lease. You still owe 50% of the balance on the phone. Trading in the phone to Apple forgives that remaining balance so you essentially paid 50% (plus AppleCare+) for depreciation.

Granted, if you want the new iPhone, then you've got the following options:

1. Trade in your iPhone 7 and start a new iUP for 24 months.
2. Pay off the balance on the iPhone 7 (to keep or sell yourself) and start a new iUP for 24 months.
3. Pay off the balance on the iPhone 7 (to sell yourself) and pay in full for new phone.
4. Pay in full for new phone and continue paying the iPhone 7 monthly installment for 12 months.

 

[off_piste]

I am 12 months into my iPhone 7 and I am in the Apple iUP program. I plan to upgrade to a new phone when they are released. My question is what happens to the 12 months of equity that I have paid into my current phone? Do I get a trade in credit against the monthly fee of my next phone, or do I just lose all that equity like a car lease? I ask because if I were to keep the 7 for another 12 months, I own it outright, but if I give it back now, and I get nothing for it, I question the benefit of staying in the iUP.

So what's the delta between selling at one year and the balance of your payments? $100? $150?