No doubt about it -- a lot of iOS mobile users out there are looking to replace their old iPhone devices with a new model, but they just do not have the cash needed to pay the rather high upfront payment required to get one. Sure, monthly payments are good and all, but committing to purchasing every new iPhone model every year might be a tad too much for these users. Fortunately, Apple has something they might want to check out.
This week, the iPhone maker has introduced a new plan called Trade Up With Installments, and basically it allows iOS users to trade in their old iPhones (or even Android or Windows powered handsets), apply the value of their existing device to a new iPhone, and then pay off their newly acquired smartphone by way of installments over the course of two years (24 months). It should be noted though that Apple is only making this program available for users based in the United States, and it can only be availed of in Apple Stores.
For users handing over an old iPhone model that is still in good working condition, they can expect to complete payments ranging from around $15 to $35 a month. The specific amount may vary depending on how many iPhone models the user is jumping up to. For instance, trading in an iPhone 5 for an iPhone 6 would equal payments of $14.54 every month. But if you hand over an iPhone 4 for, say, an iPhone 6s Plus with 128 gigabytes of onboard memory, it would mean paying $35.37 every month.
According to information provided by data tracker Fiksu, around 42 percent of today’s active iPhone devices consist of the iPhone 5s (released in 2013) or earlier models. Apple obviously wants this particular segment of the iPhone owning population to upgrade to the latest iPhone model. By shepherding them via its new Trade Up With Installments program, Apple is basically ensuring that its people keep buying newer iPhone devices.
In the last year or so, Apple has been pretty busy introducing schemes designed to encourage iOS mobile users to grab the latest iPhone models. In September of last year, Apple launched its iPhone Upgrade Program (together with the current iPhones, the iPhone 6s and the iPhone 6s Plus), a nice addition to the company’s already existing trade in program. The old trade in program offers $350 for any old iPhone handed over. As for the iPhone Upgrade Program, it allows users to grab the latest iPhone model every year, plus the AppleCare+ service, by completing monthly payments over the course of 24 months.
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