Other VZW Upgrade- iPhone 11 Pro to 14 Pro (w/$1000 credit) or wait?

[A.Goldberg]

I currently have an iPhone 11 Pro 64gb (purchased in 12/2019 but replaced under warranty this past winter). I definitely underestimated the ideal amount of storage (easily rectified with iCloud) but am otherwise generally content with the phone.

I was recently informed that I am eligible for a $1000 credit towards a new iPhone with my Verizon plan if I trade in my 11 Pro. This of course requires Verizon’s 36 month payment plan. While 36 months is not ideal, I usually keep my phones about 3-4 years anyways. Alternatively, Apple will give me $250 for my current phone.

I really hate how convoluted all of this has become. It’s far worse than dealing with car salesmen. These phone payment arrangements feel a lot more like leasing than actually financing.

So the question is should I upgrade to a iPhone 14 Pro model, or wait for the 15 in September. If I wait for the 15 I risk losing out on a substantial amount of credit. It does seem however my iPhone 11 Pro will still be considered a “premium device” when the 15 is released, meaning I will be offered better promotional pricing, allegedly.

Given what we know about the 15 Pro, from my perspective there’s little particularly compelling worth waiting for. USB-C means I have to upgrade all my chargers and the incremental updates to the processor, cameras, etc aren’t particularly exciting for me. My biggest reason for getting the Pro is for the better battery life.

I guess at the end of the day I’m not as excited about having the newest iPhone as I once was. At the same time, money isn’t a problem, though I prefer not to be frivolous.

TLDR: Should I wait for the iPhone 15 Pro and risk having a reduced trade in value of my 11 Pro -or- trade in my 11 Pro and take the 1000$ credit for a 14 Pro?

Thoughts?

 

[dz5b609]

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[Saturn007]

I agree with you that these carrier deals on phones look good at first, but that the lock-in and fine print are off-putting.

What are Verizon's terms if you wanted to upgrade phones or to switch carriers after, say, 2 years? How much do you end up paying to buy the phone outright? How much *extra* do you end up paying for the iPhone 14 Pro on the “deal”, anyway, over just buying it new from Apple? How much do you think you could get for the iPhone 11 selling it to a friend or privately?

I'm often enticed into exploring those “deals” but, after trying to decipher the convoluted terms, I end up giving up. They seem more like traps than something truly worthwhile.

In any case, we're only 2 months away from the iPhone 15s, so there is something to be said for waiting and seeing how things shake out — and whether a new device would appeal to you more!

 

[StaceyMJ86]

I would say wait for the 15 series announcement, and make an informed decision then. Since you upgrade every 3-4 years, taking out a 36 month loan wouldn’t be bad with Verizon. It will be nice if you could get the same $1000 credit for your 11 Pro when the 15 series is released. I for one upgrade every 2 years, so Verizon‘s 36 month device payments is non feasible for me and a bad idea.

 

[A.Goldberg]

I agree with you that these carrier deals on phones look good at first, but that the lock-in and fine print are off-putting.

What are Verizon's terms if you wanted to upgrade phones or to switch carriers after, say, 2 years? How much do you end up paying to buy the phone outright? How much *extra* do you end up paying for the iPhone 14 Pro on the “deal”, anyway, over just buying it new from Apple? How much do you think you could get for the iPhone 11 selling it to a friend or privately?

I'm often enticed into exploring those “deals” but, after trying to decipher the convoluted terms, I end up giving up. They seem more like traps than something truly worthwhile.

In any case, we're only 2 months away from the iPhone 15s, so there is something to be said for waiting and seeing how things shake out — and whether a new device would appeal to you more!

Yeah, Verizon apparently got rid of their service contracts and has locked customers in with these silly monthly phone contracts. 24 months I think would be acceptable for most people, but 36 is really pushing it for a lot of people I know.

Honestly, if it weren’t for me being on a family plan with my parents and sister (a little ridiculous considering us children are in our 30’s, well employed, with doctoral degrees) I’d consider switching off Verizon for a number of reasons, 36 month contracts being one of them. Who knows what new technology will exist by then? But if this is the new normal with Verizon I suspect it will only be a matter of time before the others pick up this 36m scheme.

You’re really not buying a phone or even financing phones these days, so much as you are leasing-to-own them. And the way they market everything as monthly costs when dealing with sales reps rather than the actual cost/total payments makes the process of buying a phone seem more like buying a car from a sketchy car dealer.

If I wanted to upgrade early to another iPhone (and this only works with iPhones), I could trade in the 14 for 15 after 50% of the payments have been made. I would lose the $1000 in monthly credit and would not be eligible for any new promotions. I would not have to pay off any of the outstanding balance.

(This actually begs the question if I traded the 11 Pro for the base 14 Pro, there is a $0 price difference, so then 100% of the payments would be made upon purchase of the phone. Perhaps I’ve outsmarted Verizon’s games?)

I guess I could wait longer, though I don’t have the same desire to have the latest and greatest as I once did. My 11 Pro works fine but it doesn’t seem to be as snappy as it was when it was the new phone to have. I’d just be annoyed not to take the deal, have the 15 come out, find it not very exciting, and then find I’m only getting an offered a fraction of what I’m being offered now. $100-200 less, whatever, but if it’s $500 or $600 less, then quite annoying. Even if the 15 had very cool new features, I’m not sure I could justify the upgrade if I still had to pay $500-600+. And which case my current phones value will only become less valuable. I hate predicaments such as these.

 

[HDFan]

Are you locked into Verizon? When the new phones come out there may be deals with more customer centric carriers such as T-Mobile.

 

[Flamingdeathbolts]

Last year in Sept I traded/upgraded my iphone11 128gb towards a 14 pro 256gb and Verizon gave me $800 for it. I am stuck in 36month plan. But hopefully that gives you some perspective.

 

[JamesMcFlyJR]

I would personally wait for the 15 especially if youre gonna be locked in for 3 years with credits. Literally 45-60 days from now the new phone will be out.

Also on a seperate note, thats why I love that im with tmobile. They are strictly 24 months, no 36 months bs.

Not to mention, if I decide to upgrade early, I can pay off the remaining balance of the phone and the promotional credits (from the $1000) will keep going. I hope tmobile never gets rid of that.