iPhone 11 Pro Logic and financial behind IUP, next year camera bubble-less?

[olindacat]

I searched the upgrade program and found a zillion threads, each averaging about 20 posts, but got tired of weeding though and finding nothing clear, so sorry if this has been discussed ad nauseam!

What is the deal with IUP? ON the Apple site, I see two different things: one says you can replace your phone every 12 months, the other says you pay 24 payments and the phone is yours. Then there are convenient little footnote numbers everywhere for the fine print. Now, I try to read fine print, but has anyone here, after updating their OS, been promoted to read the new terms and conditions? If I read all of those I'd be dead before made my first call!

Anyway, it appears everyone here knows the scoop, and I'm the super at the poker table here, but Citizens Bank is somehow involved. Very smooth move on Apple's part: sell the thing, get their money, and leave the customer to haggle out with a third party worth nothing compared to Apple! Brilliant.

I don't even care about that, so much, but in the fine print it says 0% APR, then goes on to mentioned finance changes, bank fees, etc., are our responsibility! Talk about double talk!

My wife and I both have 6s. I'm a photographer and use my iPhone all of the time, but primarily for video capture, as it all goes onto YT and looks like crap anyway. But, I read how much of a boost the new 11Pros are, and how the 12s are a must upgrade.

So, has anyone run the numbers on this program, and is it better to do this versus buying outright and selling for cash next year? I saw on preview.com they are coming out with thinner lens designs which may mean the 12 might be bubble-less, for want of better words, where the camera lenses currently bump out on the back. Any thoughts on that as well?

Again, I know their forum has got it all covered in spades, but can't seem to find what I needed so maybe others are in my shoes and could use a hand as well. Cheers!

 

[akash.nu]

The basics are this -

- over 2 years your total expense is exactly the same you buying a phone outright + getting AppleCare+ (AppleCare+ is mandatory for IUP as you get 2 exchanges with minimal fees)

- if you buy outright and sell next year in private yourself then you’ll make a little extra because upgrading via Apple means the device price is valued at 50% next year which is not the case in the open market. Typically iPhone prices hold more value than 50% the next year.

- also if you buy outright then you can choose not to buy AppleCare+ with your phone which is comparable to Apple’s normal finance scheme which doesn’t include extended coverage of any damage/ defect.

Does that answer your question?

 

[olindacat]

Thanks, partly The second part of your answer reads a little ambiguously to be, not your fault, just my think head. I was under the impression that with IUP AC was 'included'. Is that just the confusing copy then? (I have not gone to the trouble of trying to check out, where I suppose all of the extras would appear.)

Also, why wouldn't one want AC? Is the thing under the same warranty coverage for the one year anyway? Is that the logic? I'd buy new, outright, not buy the AC because it has a warranty anyway, and sell in say 11 months, is that what people are doing?

I'm trying to understand the wisdom of the smarter people here, before I plunk down all this money. Thanks again.

 

[olindacat]

This is the text copied straight from their website. If the AC is not "included", then they are are making it hard to understand with this! Is it more like: AC is extra money, but we insist you include buying it in your purchase as a term of our conditions, thus it is "included". Seems deceptive!

• Get a new iPhone every year
• AppleCare+ coverage included1
• Works with your carrier
• Starting from $35.33/month2

[automerge]1570964515[/automerge]
The fine print seems like double talk:

"... 0% APR from Citizens Bank, N.A. (subject to any interest, fees, or other costs payable to the card issuer)"

So, 0% means "subject to ANY interest". What do they do, tack on interest over and above the 0% or something. Seems very deceptive.

 

[akash.nu]

So buying AppleCare+ is completely up to you when you’re buying the device. There’s a difference between AppleCare and AppleCare+ .

If you’re going to buy AppleCare + anyway with your device then going IUP is a no brainer for me. Then next year you have the following options -

- still choose to sell the device in private and pay off the rest of your IUP due
- you can continue to use the device for 2 whole years for no extra cost while essentially keep paying for the device in instalments.
- if you want to avoid the hassle of dealing with people to sell your device then just go to Apple and upgrade to a new device.

Personally I choose the 3rd option every year because I don’t have the time or energy to deal with people trying to sell in private for some extra cash. My time is more valuable than the gain this case.

 

[Strelok]

This is the text copied straight from their website. If the AC is not "included", then they are are making it hard to understand with this! Is it more like: AC is extra money, but we insist you include buying it in your purchase as a term of our conditions, thus it is "included". Seems deceptive!

• Get a new iPhone every year
• AppleCare+ coverage included1
• Works with your carrier
• Starting from $35.33/month2

[automerge]1570964515[/automerge]
The fine print seems like double talk:

"... 0% APR from Citizens Bank, N.A. (subject to any interest, fees, or other costs payable to the card issuer)"

So, 0% means "subject to ANY interest". What do they do, tack on interest over and above the 0% or something. Seems very deceptive.

No, the “interest” is in regards to the card you pay with. If you carry a balance on your CC every month you will be paying that interest. The loan from Citizens will never charge interest itself.

 

[olindacat]

No, the “interest” is in regards to the card you pay with. If you carry a balance on your CC every month you will be paying that interest. The loan from Citizens will never charge interest itself.

I see. Okay. Thanks. I don't even want a load, per se. I am assuming it is required to be in the program, as opposed to simply paying it in one shot with a cc to earn mies/points?

I'm trying to wrap my head around the benefit here, which I guess is as Akash.nu said: I can replace the unit regularly without hassle. I haven't run the numbers, but is 24 payments the same thing as just buyhihng the phone + AC+, or is it less?