Apple is introducing an option for its customers that allows them to rent iPhones. It’s called the iPhone Upgrade Program. It can be a good deal depending on your preferences. The advantage of the Apple Upgrade Program is that you can spread the payments for an expensive device over 24 months. In addition, AppleCare+ automatically comes with it.
The cost of the upgrade program is the same as when you buy your iPhone outright and with AppleCare. You don’t pay any interest. The program covers only the newest, latest models. If you have your eye on an older phone, you’ll have to go through the Apple trade-in program.
How does the Apple Upgrade Program work?
The upgrade program allows you to purchase a new iPhone with 24 payments, but the best part is that after making just 12 payments, you can automatically upgrade to the newest iPhone.
In practice, it allows Apple customers to use this program to replace their current iPhone with one of the newer models every year. Instead of paying the full price of the phone upfront or monthly payments to become the owner of a particular phone in two years.
It works so that you can come to the Apple Store or through Apple’s online store to buy an iPhone, agreeing to pay it off over 24 months. The period of 24 months of payments and the right to upgrade begins again after 12 of them.
Thus, the best time to join this program is in September. This is when the company is presenting new models of devices if you want to change your iPhone. For people who like innovations, this program can be attractive.
How much does it cost?
You won’t need to pay a large down payment and also pay for a new iPhone right away. The full cost of the iPhone and selected AppleCare+ coverage is spread over 24 months at 0% interest.
The price will vary depending on the cost of the new iPhone. If you want to get your own iPhone 14 128GB, you’ll need to pay $39.50 per month. The price varies completely by model, for example, iPhone 14 Pro Max 1TB from $74.91
If you’ve made at least six monthly payments on your current phone, you can pay the difference between your current balance and the amount of the 12 payments. As a result, you can get a new iPhone.
What should you do if your current iPhone is damaged?
The main requirement of this program, in the case of exchange after 12 months, is that the current iPhone be in good, working condition. The iPhone must turn on and hold a charge, have an intact and working display, and have no cracks or other damage.
If your iPhone doesn’t meet any requirements you won’t be able to replace your iPhone with a new model.
At the same time, if you’re satisfied with your iPhone, you don’t have to change it under this program and pay again in 24 months. You aren’t forced to upgrade. After 24 months, you will repay it and be able to continue using it without monthly payments, or you can sell it to finance the cost of a new phone when you’re ready.