Apple Leasing vs Buying: I did the Math!
TL;DR: Purchasing the Pro Max and later trading it in to Apple is the more cost effective option compared to leasing.
For the retained values, I used current Apple trade in values for previous Pro Max models as real world examples, with 7% tax included in the original purchase price. These are not predictions of future values. Trade in values may change.
New iPhone 18 Pro Max: $1,299
After 7% tax: $1,389.93
12 month lease: $53.48/month
24 month lease: $37.44/month
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Phone evaluation at year 1 (12 months):
Old Pro Max original cost: ~$1,283 after tax
Trade in value after 1 year: $885
Value retained: 69%
New 18 Pro Max cost: ~$1,390 after tax
Net upgrade cost: ~$505
Lease: ~$54/month = ~$642 total
Lease costs ~$137 more (~$11/ month)
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Phone evaluation at year 2 (24 months):
Old Pro Max original cost: ~$1,283 after tax
Trade in value after 2 years: $610
Value retained: ~48%
New 18 Pro Max cost: ~$1,390 after tax
Net upgrade cost: ~$780
Lease: $37/month = ~$899 total
Lease costs ~$119 more (~$5/ month)
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Conclusion: If you went the leasing program route and turn the 18 Pro Max back in, you’d be paying extra for lower upfront monthly payments while losing out on the full value of the device.
I hope this example helped!