Other Apple Upgrade after 12 month?

[gelie]

if you made your 13th payment and then upgrade your iPhone , are you trading it in with a extra month of equity in it? I believe so since upgrading entails another 12/24 month reset.
It seems like the later you into the loan the less sense it make to trade it in? Better off paying it off and selling privately?

 

[vin1717]

You nailed it. It only makes sense if you trade in at the 12th month. Any month beyond that point you are better off paying in full and trying to resell.

 

[gelie]

So how does it work if my 13th payment falls on 9/20? Will my old loan cease if I pre order on the 13th? Trying to avoid paying for 2 phones

 

[vin1717]

That's a good question. When you pre-order you are paying the first month and taxes, but I'm not sure it you get hit for the final payment on your current phone.

 

[mrt209]

So how does it work if my 13th payment falls on 9/20? Will my old loan cease if I pre order on the 13th? Trying to avoid paying for 2 phones

They will refund you the 13th payment.

 

[gelie]

They will refund you the 13th payment.

Thanks. I guess the next question is what’s happens if you pre order,and don’t get delivery un 9/27 or later?

 

[Chele]

Thanks. I guess the next question is what’s happens if you pre order,and don’t get delivery un 9/27 or later?

From past experiences, when you pre-order, the IUP loan pauses. It won't let you make payments and it doesn't take any payments. It will pause until you either get a new phone and the old phone gets back to Apple and they close out the loan or you notify them that you're not going to trade in the old phone and need to continue paying for it. That way, you don't make extra payments.