Apple today launched a new way to buy an iPhone that’s sort of like a combination of its existing trade-in program and its iPhone Upgrade Program.
The Trade Up With Installments program lets consumers trade in their current smartphone get credit toward a new iPhone, then pay for that iPhone in installments. The device you trade in can be an older iPhone or even an Android or Windows phone, and Apple will accept broken iPhones as well. The amount that you get for your trade-in will vary depending on the device, ranging from $100 for an iPhone 4 or 4s up to $350 for an iPhone 6s. Apple will give you between $100 and $300 for your Android or Windows device.
After trading in your phone, you then make installment payments on your new iPhone. The amount you’ll pay depends on which device you trade in and what you’re upgrading to. Moving from an iPhone 4 to an iPhone 5s, you’ll pay $14.58 per month for 24 months. If you go from an iPhone 6 to a 6s, your 24 monthly payments will be $14.54 apiece. The biggest jump you can make is going from an iPhone 4 to a 128GB iPhone 6s Plus, which will cost $35.37 per month for 24 months.
It’s also worth noting that, just like with the iPhone Upgrade Program, the new iPhone that you buy comes unlocked out of the box. That means that you can use it with the carrier of your choosing. The phones also come with an AppleCare+ two-year warranty and the option to trade in your device after one year and upgrade to a new model.
The Trade Up With Installments program is launching today in Apple Stores in the US. The program adds another way for folks interested in an iPhone to easily buy one, letting them trade in their device, put that credit toward a new iPhone, and then enroll in an upgrade program, all at the same time.