Customers buying iPhone 6s and 6s Plus on an O2 Refresh Tariff pay for their Airtime Plan and Phone Plan separately, meaning that in a year’s time they will have already paid off a percentage of the Phone Plan leaving 12 months payments outstanding. For those on O2’s new 30GB O2 Refresh tariff, O2 will waive the outstanding payments on the Phone Plan allowing customers to upgrade at no extra cost. All customers have to do is trade in their old phone, pick their new O2 Refresh tariff and walk out with their new phone.
Am I being really dumb or does nobody actually see this as a really good deal?
Im planning on buying the 128GB Plus which sim free from

is £789
This new 'first in the uk' offer on the 30Gb tariff is confusing. So with a £9.99 handset cost and £69 a month that makes the total cost for 12 months £837.99 including 30gb data, unlimited mins and texts and their version of applecare+ Then at the 12 month mark O2 will let you upgrade to the next iPhone at no cost by handing back the phone to them?
So is it just me or is this actually a crazy good deal? Help!!
Editing this post to add sum sums......
Trying to get my head around how it would differ to my current format:
Buy the phone sim free - £789
Sell it just before the new announcement for approx £200 less than I paid
So that technically means its cost me £200 to have the iPhone for a year
I have a cool tariff with O2 friends and family discount saving 50% 5gb data, unlim mins and texts £16 a month
So £16 x 12 months = £192 airtime
Plus cost of having the phone for a year = £200
Total cost for one year with latest iPhone =
£392
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I think I have answered my own question lol