If you’re planning to buy the new iPhone this year, as we expect Apple to announce the iPhone 7 with a completely new look and possibly without a headphone jack, you should start preparing now. This is especially important if you don’t want to buy the new iPhone at full price and don’t have big credit.
Carriers are dramatically changing the way you buy a new iPhone, and there are fewer options to buy with a two-year contract that cuts the iPhone’s cost by over 60%, according to the buyer.
If new purchase options are already available and your credit is poor, buying the new iPhone in 2016 may be more difficult, or at least more expensive than before.
We saw big changes last year just before the iPhone 6s release date, and in early 2016 two major carriers are making big changes to the way two-year contracts work; this will affect how you buy the iPhone 7 if you plan to upgrade later this year. .
AT&T pushed two-year contracts into the background in 2015, but by the middle of last week you can walk into an AT&T store and buy a new iPhone for $199 on a two-year contract.
On January 8, AT&T fully terminated the two-year contracts. This is a complete stop for contract smartphone purchases at AT&T and at AT&T authorized retailers including Best Buy and Apple.
The new option requires users to pay full price or purchase the new iPhone for a monthly fee. While Apple has yet to announce the iPhone 7, AT&T is highly unlikely to suggest any deviations from this policy.
Sprint is also joining the fray by cutting contracts in the smartphone sales arena. While existing Sprint customers with a two-year contract will likely be able to get a new phone on a similar plan, new customers will not be able to purchase a contract phone at Sprint or from Sprint partners.
New plan options include iPhone Rental, an Easy Pay option with monthly payments and full price.
In late 2015, Verizon terminated contracts for new customers and offered the option to either pay monthly or buy outright for new phones. T-Mobile took the lead with changes from a much earlier date.
The switch is open, and existing Verizon and Sprint customers can still purchase phones on a two-year contract, which may be short-lived. Oddly enough, it’s still possible for a new customer to buy a Verizon iPhone at Best Buy on a two-year contract.
Why is it so important to keep this in mind? When the new plans roll out, the price you’ll pay for a new iPhone will be different than when you last bought it, especially if you’re getting out of a two-year contract.
If the iPhone 7 costs the same as the iPhone 6s, which is most likely what you can pay at Verizon as a new customer this year.
After all, you pay the same price overall, but if you’re “working on your loan,” as Verizon labels the option, you pay more upfront. Other carriers
Users looking for an upgrade should start planning now by registering or working on it. improve credit scores to open additional purchase options.
The good news is that despite the prevalence of payment plan options and limited two-year contract sales, we still saw plenty of iPhone 6s deals in the weeks it was released.
Signs are currently supporting an iPhone 7 release date in the fall, and indications suggest Apple is working on a new design that removes the headphone jack and could replace the additional connection to the Lightning port.
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