If you are currently planning to ditch your old phone and get a newer one but don't want to shell out a big upfront payment, now could be the perfect time to go for it. Apple has started its new Trade Up With Installments program that allows you to trade your old smartphone for a new iPhone and pay for it in monthly installments.
Apple's new iPhone trade-in plan kicked off on Thursday following the company's recent upgrade on its Reuse and Recycle trade-in program. The newest plan lets anyone trade in an old iPhone, Windows phone or Android device for a new iPhone and pay the device in installments for 24 months.
Under this promo, customers can bring their older iPhones, which range from iPhone 4, 5, 5c, 5s, 6 and 6 Plus, Android devices or Windows phones to an Apple Store. They will then step out of the store with their new iPhones without having to sign a wireless agreement or pay an upfront payment. USA Today says customers can pay for the device over 24 months with an interest-free term.
For instance, when you swap your iPhone 4 to an iPhone 5s, you have to pay $14.58 per month for two years. If you have an iPhone 4 and you wish to step up to a 128 GB iPhone 6s Plus, this will cost you $35.37 a month. This means you can save around $100 off the full retail price of the newest iPhone device. If you have an iPhone 6 and you want to upgrade to a 6s, the monthly payment is $14.58.
What makes this new offering different from other existing programs is that it requires those people who availed of the plan to pay off the purchased iPhone before the handset can be traded in again. The iPhone Upgrade Program, on the other hand, customers are allowed to swap their iPhone for the latest model every year.
On top of that, the new program does not include AppleCare+ coverage, as opposed to the iPhone Upgrade Program that comes with the warranty program the moment customers availed of this plan.
At the moment, the Trade Up With Installments program is only offered in the United States and is only available in Apple Stores across the country.
