you lost at least $200 on the trade in. You are still paying $5 a month to rent the iphone 6s. You are paying $8 a month in insurance. So you are paying over $350 a year to rent the new iPhone. Not the best deal out there.This is what is happening to me and i have spoken to Tmobile three times to confirm. (mostly because i wanted to make sure i was getting the promotion and so i had more questions)
i thought i would share my situation since there seems to be a lot of mis-information on here. Your best bet is to call them and talk through the different options and scenarios. Each person i talked to was very nice
I am on a family plan with unlimited data etc.....with iphone6 space grey 64gb on the regular Jump program from my upgrade last year. My payment is about $27 a month for the phone plus the jump program insurance.
Current bill looks like this:
$40 family plan
$27 iPhone 6 monthly charge
$10 Jump Insurance/warranty
$77 Total
$6 Taxes and Fees
$83 Grand Total
Now i am upgrading through this promotion Jump On Demand program to iPhone 6s 64gb space grey (same color and size)
I am trading in my current phone which has a trade in value of about $330 according to the rep. ( if i remember correctly) the trade in will wipe out what i have left on my equipment plan.
the current balance on my equipment is LESS than the Trade-In value. My balance is about $320 so they will be putting the difference as a credit to my current bill. So for this example i will see a $10 credit on my next bill. (yes i understand i could have kept the phone and resell it and all that jazz but i dont want to deal with it) By the way i am never going to a tmobile store. they are sending me a prepaid package slip where i can send my trade in phone back to them through UPS.
because i am trading my phone in and going through this promotion my future bill in October or the following bill depending when they process the switch for the trade in.
$40 family plan
$27 iphone 6s monthly charge
$(22) bill credit for the promotion
$8 jump insurance/warrenty (she explained that this was 2bucks cheaper now so i switched)
$53 Total
Up front cost was $99 +tax on the 99 because i am getting 64gb
no tax payment on the Total Phone cost that you had to pay upfront like in the past.
Also keep in mind that the $27 iphone 6s monthly charge is going towards your equipment plan so this will lower your buyout cost at the end awhile still paying less along the way.
hope this helps and i hope its clear.
sorry if its a wall of text
Quantum