Apple is changing its iPhone swap program as part of summer preparations for the iPhone 7’s release date this fall. This change comes on top of carrier changes to the price you’ll pay for a new iPhone if your credit is bad.
We’ve seen Apple and carriers make changes ahead of the new iPhone release date in the summer of 2015, and the company is at it again.
While the changes to the iPhone swap program don’t mention a new iPhone, by making these changes in June, there’s time to test the changes ahead of a massive drop in the iPhone 7’s release date.
When you buy the iPhone 7 this fall or go to buy a new iPhone right now, you’ll be able to use a simplified iPhone swap program that will allow you to pay upfront or less for your new iPhone. Even reduce your monthly fee.
Under the new iPhone Trade-in Plan, which Apple calls a trade-in offer, you can earn up to $250 for your new iPhone at an Apple Store. That’s under the $300 quoted last week. You can trade in an Apple Store or mail to Apple.
The price drop is due to an upcoming new iPhone release date. Apple does not yet accept the iPhone 6s or iPhone 6s Plus for trade-in under this program, and the value of the iPhone 6 is decreasing day by day.
Previously, Apple allowed users to trade in an old iPhone and choose iPhone financing through a bank, but now the plan includes carrier financing that Apple offers when you buy a new iPhone at AT&T, T-Mobile, Sprint or Verizon. . Apple iPhone Upgrade Program and Apple iPhone Installments still list a bank, but that’s not the only way to buy.
Carrier financing normally comes at 0% interest and spreads payments over 24 to 30 months. This is not a rental, so you own the phone and if you want to upgrade you can pay early with no penalty.
Monthly charges vary by phone, storage size and carrier; However, if you go with the annual upgrade program that includes AppleCare+, most often the payouts are between $22 and $27, with Apple offering up to $32.
If you trade in your iPhone 6 Plus for $250, you can cut monthly payments by $10 to $11 depending on how taxes and fees work. This makes the monthly cost of paying for your new iPhone more affordable.
By releasing it now, rumored months before the iPhone 7 release date, Apple could sort out any confusion as it sets up the carrier financing division, allowing consumers to explore their monthly price options.
Apple will pay you $50 to $250 for your old iPhone in good condition.
Note that you can normally sell your iPhone for more than you get in a trade. The Apple trade-in program simplifies the upgrade process for consumers who don’t want to sell their iPhones on their own.
The iPhone trade-in program doesn’t currently cover the iPhone 6s or iPhone 6s Plus, but you can expect those models to be added later this year.
This type of upgrade is especially appealing near the iPhone 7 release date, as it means a hassle-free upgrade to your existing phone without paying out of pocket.
Rumors suggest that the iPhone 7 release date will come in September, which will be one year after the iPhone 6s and the launch of Apple’s iPhone Upgrade Program, which allows users to get a new iPhone every year.
We could see a similar design to the iPhone 7 and iPhone 7 Plus from current models, but better cameras, a new home button, and various feature upgrades like Apple could remove the headphone jack.