What is the point of the iUP when you can buy interest-free with Barclaycard?

unobtainium

macrumors 68020
Original poster
Mar 27, 2011
2,267
3,036
Apple has this deal with Barclaycard where you get 0% interest for 12 mos. (or more) on big purchases. Why don't people just use that, rather than the iUP? The Barclaycard option is actually cheaper because you're not forced to get AppleCare, and you own your phone outright and can sell it whenever you want..

Am I missing something?
 

Zaft

macrumors 68040
Jun 16, 2009
3,930
3,010
Brooklyn, NY
Apple has this deal with Barclaycard where you get 0% interest for 12 mos. (or more) on big purchases. Why don't people just use that, rather than the iUP? The Barclaycard option is actually cheaper because you're not forced to get AppleCare, and you own your phone outright and can sell it whenever you want..

Am I missing something?
1UP is 0% 24 months.
 

noobinator

macrumors 603
Jun 19, 2009
6,322
5,283
Pasadena, CA
You only get the first purchase for 0% interest on Barclays I believe. And it's only 12 months so 999/12 = $83 per month whereas IUP you pay like half that and get to update yearly. I'm probably wrong about something here.
 
  • Like
Reactions: unobtainium

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
Apple has this deal with Barclaycard where you get 0% interest for 12 mos. (or more) on big purchases. Why don't people just use that, rather than the iUP? The Barclaycard option is actually cheaper because you're not forced to get AppleCare, and you own your phone outright and can sell it whenever you want..

Am I missing something?
Apple's trade in generally offers a better return value of the device than you can get in some markets. Plus no fees and no hassle. There are years I would get 60% return and others I would get 40%. I am guaranteed 50% through Apple.
 
  • Like
Reactions: unobtainium

Raist3001

macrumors 65816
Mar 5, 2012
1,052
760
Right behind you
Apple's trade in generally offers a better return value of the device than you can get in some markets. Plus no fees and no hassle. There are years I would get 60% return and others I would get 40%. I am guaranteed 50% through Apple.
I have never sold my 2 year old iPhone for less than $450
Of course my iPhone is in mint condition when I go to sell.
I hope to get a nice return on my mint JB 128.
 

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
I have never sold my 2 year old iPhone for less than $450
Of course my iPhone is in mint condition when I go to sell.
I hope to get a nice return on my mint JB 128.
Its entirely dependent on market. My phones are pristine, not a mark on them, but depending on where you live, will determine the price. My market is Malibu/Santa Monica. These people upgrade yearly and the market is flooded which drastically reduces return. But in all fairness, $450 for a 128GB 7 Plus is less than Apple gave me. I got $499 on trade in. And thats trade in value. Normally private party is supposed to be $100-200 more. No way I was getting $600-700 for a one year old 7Plus when they sell it new for less than that.

Edit: I just reread your post, if you are getting people to spend $450+ on a two year phone, they are flat out stupid. You can buy a 6s brand new for $450. You are lucky that these uneducated people are finding you.
 

JulesJam

Suspended
Sep 20, 2014
2,537
300
Apple has this deal with Barclaycard where you get 0% interest for 12 mos. (or more) on big purchases. Why don't people just use that, rather than the iUP? The Barclaycard option is actually cheaper because you're not forced to get AppleCare, and you own your phone outright and can sell it whenever you want..

Am I missing something?
Yes you are missing something. Apple's iUP is a rent to own program where you can make monthly payments over 24 months interest free to pay it off (with the option to pay it off in full at any time with no penalty) and own the phone or you can rent it by paying the sales tax up front and 1/24th of the phone price + 1/24th of the AC+ price and turn it in any time after 12 payments to get a new phone.

AiUP includes AC+ and many people not only want the AC+, they like the idea of only paying for AC+ by the month. You seem to think the AC+ is a negative whereas many of us see it as a positive and the fact that we can pay for it monthly is even better.

With Barclays, you are buying the phone but delaying payment for up to 12 months interest free. If you do not pay the phone off in full by 12 months, they charge you all of the back interest at a ridiculously high rate. Since you are simply buying the phone outright, you do not get the option of trading in the phone before it is paid off in full to get a new phone.
 

Zaft

macrumors 68040
Jun 16, 2009
3,930
3,010
Brooklyn, NY
Its entirely dependent on market. My phones are pristine, not a mark on them, but depending on where you live, will determine the price. My market is Malibu/Santa Monica. These people upgrade yearly and the market is flooded which drastically reduces return. But in all fairness, $450 for a 128GB 7 Plus is less than Apple gave me. I got $499 on trade in. And thats trade in value. Normally private party is supposed to be $100-200 more. No way I was getting $600-700 for a one year old 7Plus when they sell it new for less than that.
Im a bit confused here. Im on the iUp with the 7 +. My yearly upgrade is next March. When I give my 7 + to Apple I get credit for the 7+ toward the X for example?
 

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
Im a bit confused here. Im on the iUp with the 7 +. My yearly upgrade is next March. When I give my 7 + to Apple I get credit for the 7+ toward the X for example?
No, it forgives the balance of your loan, which is 50%. You would have paid 12 months (50% of the loan) by time you trade in.
 

Ntombi

macrumors 68040
Jul 1, 2008
3,295
1,020
Bostonian exiled in SoCal
Im a bit confused here. Im on the iUp with the 7 +. My yearly upgrade is next March. When I give my 7 + to Apple I get credit for the 7+ toward the X for example?
You send your phone in and start another contract. That’s why they check your credit each time (though there’s dispute as to whether it’s a soft or hard check).
 

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
You send your phone in and start another contract. That’s why they check your credit each time (though there’s dispute as to whether it’s a soft or hard check).
Its a soft pull for subsequent years as long as you remained in good standing. I'm on my third year (like many here) and only have a hard credit check for the first year.
 

JulesJam

Suspended
Sep 20, 2014
2,537
300
Only downside to iUP is the credit check every year.
From what others have written here, you only get a hard pull the first time. As long as you stay in the program without breaks, there are no more hard pulls. People have actually checked all 3 credit bureaus to confirm this.

Perhaps if you have missed payments or been late in paying it may be different.
 

Zaft

macrumors 68040
Jun 16, 2009
3,930
3,010
Brooklyn, NY
You send your phone in and start another contract. That’s why they check your credit each time (though there’s dispute as to whether it’s a soft or hard check).
Yea thats what I thought, i got confused by the other post.
 

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
That’s my understanding, but a vocal minority insist otherwise, so I’m presenting both possibilities. :)
I have yet to find someone here post for fact they had a second pull. And I'm talking about the scenario of trading in your current phone and upgrading. Not those that paid off their original early and are re-joining.
 

Mlrollin91

macrumors G5
Nov 20, 2008
13,477
8,687
Ventura County
Then you aren't selling on ebay or swappa, you must be selling on craig's list. That's not what they go for on ebay or swappa plus you have the listing fees, paypal fees and shipping costs.

https://swappa.com/buy/apple-iphone-6s-verizon
Or they are finding major suckers, because anyone that knows anything about iPhones would know that they could buy a new version of a new year old phone for that price.
 

JulesJam

Suspended
Sep 20, 2014
2,537
300
Im a bit confused here. Im on the iUp with the 7 +. My yearly upgrade is next March. When I give my 7 + to Apple I get credit for the 7+ toward the X for example?
What happens is this, when you turn in your 7+ to get an X, they will cancel the remaining 12 payments that you owe on the 7+ and you will start a new 24 month financing agreement for the X.

If you want to upgrade earlier than March you can, you just have to pay up to 12 payments. So for instance if you have made 7 payments so far, if you make another 5 payments in a lump sum you can pre-order the X.
[doublepost=1508875786][/doublepost]
Or they are finding major suckers, because anyone that knows anything about iPhones would know that they could buy a new version of a new year old phone for that price.
They aren't finding suckers on ebay or swappa who would pay that price for a 2 year old phone. They have to be finding them locally probably through CL.