The Apple Upgrade Program seemed like a pretty decent deal... Until you dig deeper into the fine print that isn't even available on Apple's site. Here's the deal-breaker for me: in addition to the advertised monthly payments, you have to pay for taxes on the iPhone and AppleCare in full at the start of your payment period. This is not news to anyone who has already signed up for it, however here is where the deal falls apart: you have to pay the taxes in full each time you upgrade. So even if you upgrade annually and only pay off 12 payments on the plan, you still owe the sales tax for the full 24 payments which adds a cost of at least $100/year. What seemed like it would save me the convenience of having to sell my iPhone annually at a minimal cost is made much less of a convenient value by the double-charging of sales tax. Also, any even minor visible wear and tear will require a $99 replacement to trade in.