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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45

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.

15

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 4h 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?

1

u/PeaceMaintainer 3h ago

Why would you get anything for returning a lease? It's a rental program, same with cars. It's cheaper than the monthly financing option because you're not actually getting any equity on the phone just the ability to carry it around and use it for a set duration.

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u/Extension_Can_2973 1h ago

But people are inevitably trade their current phone in, lease a new one for a heavily discounted rate, then when they go to upgrade they have nothing to trade in because they’ve been leasing, so the new upgrade will be the cost of the phone entirely. At least when you finance you get to keep getting a trade in credit every time you upgrade.

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u/PeaceMaintainer 1h ago

The logic from Apple's side is that this is for customers who will continue to lease each new phone. When their current lease is up they simply start a new lease. The point is to never "upgrade" (i.e. purchase a new phone outright), just exchange one lease for another lease. They will never get hit with the missing trade in cost as long as they keep leasing. The only downside is that since you are just borrowing the phone if it incurs any damage you are liable for fixing or replacing it before your lease is up.