IUP - Upgrade to X and keep old phone? 2 loans?

[MrLatte]

I’m in the IUP and upgrading to the iPhone X from the iPhone 7. If I want to keep my iPhone 7 to hand down to a family member do I just keep it and then I’ll have two loans?

Just wondering if I’m contractually obligated to return the old phone or not.

 

[Lobwedgephil]

Correct, just keep it and keep paying it off. The X is a new loan.

 

[kawalerzysta]

As above, you don't need to turn in old phone.