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Apple kicks off iPhone Trade Up With Installments plan staring as low as $15 per month for iPhone 6S

ByinAnnouncements | February 18, 2016

Apple kicks off iPhone Trade Up With Installments plan
Apple today released a new way to purchase an iPhone via Apple Store. The new program aims at those existing customers who are eligible for an update and don’t expect a $600 price drop. The new promo is a fusion of the well-known iPhone upgrade program with trade-in offers. Within the program you can right now buy the latest iPhone 6S on a two-year installment plan paying just $15 per month.

The oldest generation of the iPhone you can trade in is the iPhone 4

Apple launched a new offer combining their existing iPhone upgrade program with trade-in deals.

Right now, iPhone users eligible for the regular iPhone Upgrade Program can get the Apple’s recent flagship on a traditional two-year contract and pay about $32 each month. However, the new program is just about to redefined those rules and allow Apple customers to get a new device whenever they want while cutting down by half its current price.

The “Trade Up With Installments” deal gives a massive reduction of a monthly fee providing that you will trade-in your existing smartphone. For instance, if you trade in the iPhone 6 to get extra funds on the brand new iPhone 6S you can enroll for a 24-month installment plan within which you will be asked to pay as little as $15 per month.

Within the plan you may get a credit that ranges from $100 to $350. Naturally, the pricing reduction you may be subject to depends on the age of the device you want to trade-in and the handset you want to upgrade to. So for example, if you exchange one iPhone generation to its straight successor then the monthly price will account for $15. However, if you want to switch from the iPhone 4 to the 128GB model of the iPhone 6S then your monthly bill will be $35.37.

The oldest generation of the iPhone you can trade in is the iPhone 4. But, surprisingly enough, the program isn’t restricted to only iOS phones since it covers also Android-based handsets. A new Apple customer can bring for example their existing Samsung Galaxy S6 and get a $290 credit on a new iPhone.

The new program is basically an interest-free loan with credit provided by Citizens Bank. In practice it means that the bank will purchase the phone on your behalf and setup monthly installments that are the price of the device minus the price of the handset you trade-in. So as long as you pay the installment you’re like renting the device which means that no matter what happens to it you need to pay it off. Additionally, if you decide to upgrade the iPhone before the end of the agreement, you will simply need to pay off the balance and trade-in the existing device for a credit on a new one.

As for the program accessibility, at this point the Trade-In with Installments program is only available in the US, with no word whether it will spread to other markets.

source: CNET

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