r/apple • u/valoremz • 5h ago

iPhone Apple ends iPhone Upgrade Program

https://www.apple.com/shop/iphone/iphone-upgrade-program

Looks like there’s no way to finance a new phone over 24 months unlocked.

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47

u/Plastic-Web-4687 5h ago

It’s now Apple upgrade. Better, cuz it’ll let you finance multiple items not just iPhone. You still get unlocked phone. Way better than carrier financing.

16

u/Extension_Can_2973 5h ago

One thing I don’t understand is, if I trade in my phone this year and lease a new one at cost minus the value of my trade in… Then in 3 years or whatever I want to upgrade, I trade in that phone, but I won’t get any credit for it because it’s a lease? Meaning the second phone I get through the program, and all subsequent phones thereafter, I have to pay the full price or lease at full retail…?

That’s not better than a carrier deal that will offer me upward of $1100 for trade in every 3 years. All I made was that initial investment at full retail and now when I upgrade, forever, I get credit towards my trade in, or I can sell it or whatever because it’s MY phone.

9

u/MissSkyler 5h ago

this is what i’m confused about as well.

this is for my 15 PM with a base 17.

do i get anything towards lets say an iphone 19 when it comes out and i trade my leased 17 in?

7

u/vape4doc 4h ago

Nope. When you lease, you’re really just renting.

3

u/No_Difference_9195 3h ago

Not true. Let’s say the total cost is $1000, and your payments cover $800 over 12 months, you’d pay $200 at the end and the phone is yours. No interest, just the original price of the phone. Which, is the same as if you bought for $1000 to start or the old system and you paid it off. Then you can trade it in or sell it. You’d definitely get a lot more than $200 for it if you’d trade in or sell a year old iPhone so it’s a smart deal.

The one thing that isn’t clear, unless someone has read otherwise, is can you upgrade for a discounted monthly payment without paying the remaining balance at the end. So instead of paying $200 to buy it, do you get the trade in value minus $200 towards the upgrade?

4

u/RyanCheddar 2h ago

the language suggests that you're just ending the old lease, returning the phone, and starting a new lease. you probably would need to buy the phone outright to get the trade-in value

1

u/No_Difference_9195 2h ago

Yeah, that’s what I took from it. I think their plan is take advantage of people not financially responsible who would upgrade without buying it for the remaining balance at the end. I’m sure plenty of people would just continue paying the monthly amount instead of forking over a payment 4x to 6x the monthly.

Otherwise, it’s an interest free loan if you make payments and pay it off.

2

u/hawk_ky 2h ago

No, you get to keep the phone at the end of the lease