Plus, you have to factor in the taxes you have to pay separately and your carrier upgrade fee, so it’s likely an additional $150 or more that you’re not factoring.
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Other Buy outright or on a monthly plan??
- Thread starter bigpoppamac31
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Plus, you have to factor in the taxes you have to pay separately and your carrier upgrade fee, so it’s likely an additional $150 or more that you’re not factoring.
Yes there is that dreaded taxes which in Ontario is 13%. But in my case there would be no upgrade fee. Either way my brother who works at an Apple Store told me he could get me a new phone for 25% off (before tax). It would be $931.40 after discount and added tax for the 128GB model which is $1099 regular price.
If you have excellent credit pay cash as credit from a consumer loan like this can be a negative.
I think I’m also missing something because what I’m understanding from your posts doesn’t quite make sense. I’m Canadian so I have an idea of how plans usually work here. I took a look at Fido’s site, is the correct?
Option 1 - pay $1519+tax outright for the phone. Continue using your current plan.
Option 2 - pay $789+tax upfront, not outright, for the phone when choosing a new extra large plan on a two year contract (which starts from $105/month).
For what it’s worth, I’m on Koodo paying $60/month for 10GB but that was a special offer. Maybe they’ll do something similar this year
Option 1 - pay $1519+tax outright for the phone. Continue using your current plan.
Option 2 - pay $789+tax upfront, not outright, for the phone when choosing a new extra large plan on a two year contract (which starts from $105/month).
For what it’s worth, I’m on Koodo paying $60/month for 10GB but that was a special offer. Maybe they’ll do something similar this year
. Yeah, it really isn't clear from the OP's posts what exactly the options are.
It seems like everyone has a different interpretation of what the two options consists of.
From my interpretation, the OP's option 2 would be exactly like option 1, just $25 to $30 more a month. Why would anyone with a brain even consider doing that?
That’s how I took their post as well, which is why I’m confused because that’s not typically how it works. Usually when someone upgrades they will spend less upfront, but will have to choose a higher phone plan.
I had $$$ to buyout my old phone plan to be eligible to upgrade. I still owed. I never keep s phone for 24 or 30 months and it was a 30-month plan on iPhone X.
The new upgrade plan THAT I CHOSE was 24 months and $15/month higher, $45/mo. vs $30/month.
There were one time fees for setup and activation ~$65.
Maybe like that??
The new upgrade plan THAT I CHOSE was 24 months and $15/month higher, $45/mo. vs $30/month.
There were one time fees for setup and activation ~$65.
Maybe like that??
My plan is a “grandfathered” plan so they’re pushing me to upgrade my plan to a current one. That means I’d be paying more per month than I am now. Either way I’d be paying full price for a new phone. At least that’s how the Fido rep explained it to me.
Sorry, but this says it all.
If you cannot afford buying it outright, you cannot afford it. Simple. Financing a depreciating asset when you cannot even afford a one time $700-800 outlay is just stupidity.
Just my opinion of course, but think about it...
If you want to upgrade your phone you need to choose a new higher priced plan. You will not pay the full price of the phone, that makes no sense. OR you can buy the phone outright and keep your current grandfathered plan
I completely agree. Your reply is one of those rare ones that I wish I could upvote more than once.
OP has stated he can't afford a $1000 phone, has bad credit, and can't quality for a loan. It sounds like OP's finances are somewhere between "really tight" and "complete wreck". Op shouldn't even be considering a $1499 phone under these circumstances. This is a top model of a luxury line, and on top of that, he's not even getting the base model, it's one with extra storage.
OP can't afford a $1000 phone... and yet OP is trying to buy one that's 50% again more expensive than that.
I'm a solidly middle class homeowner with a nearly perfect employment history, great credit, no revolving debt, reasonable retirement savings, above average pay for my area, and yet I don't consider myself to be able to afford a $1499 phone. Especially not for something that's expected to be replaced every couple/few years.
I never asked people for their opinion on my finances. I simply was asking whether it was better to go with a plan or not. But thanks anyways.
I’m a single guy with no wife or kids and no outstanding debt to pay off. Do I have enough money in the bank to buy even the high end XS Max outright? Yes I do. But is it worth it over paying for the phone over the 24 months of a plan?
I’m a single guy with no wife or kids and no outstanding debt to pay off. Do I have enough money in the bank to buy even the high end XS Max outright? Yes I do. But is it worth it over paying for the phone over the 24 months of a plan?
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Just resign yourself to a monthly payment, at least you will have a new phone every year. We've lived in a subscription world for a long time, mortgages, car payments, rent, utility bills, cable bill, etc. Or go to the other end and buy it outright, but keep it for 4-5 years, nothing wrong with that. I realized that trying to straddle those 2 worlds is where it doesn't make sense.
Yes I could keep the phone for longer than two or three years. To be honest my 6S is still working very well. Upgrading is not a necessity. But the “dated” design of the 6S does have me longing for one of the new ones.
You say that now, but if you are on these forums most likely you are weak just like the rest of us lol. You will be pining for a new phone in a year, tops 2 years. So why torture yourself, have the latest and greatest when it comes out!! I also love to own things outright and hate payments, but I also love new things, that's why I lease my cars for example. Makes less financial sense, but the smell of a new car is too enticing every 3 years.
Personally if there's the option of paying for it outright, or paying monthly for it and paying the same amount, of course take the monthly option. The money can technically then stay in the bank where it can possibly grow too.
This Really shouldn’t be that difficult. You either decide to finance the phone because you think that works best in your economical situation with your financials, [or] you pay for the iPhone outright simply because you want the opportunity to own it without any obligation to a carrier for payments.
(I added the bold.) This is inherently conflicting to me:
- The cost is $0.
- I still have to pay the cost of the phone upfront.
Many people in this thread (C DM, dinostars, vertical smile) and myself are still confused about your options. Your question implies that your options are (1) to pay the full up front cost or (2) get on a payment plan. Yet you've repeatedly verified that your options are (1) pay full up front cost and keep grandfathered service and (2) pay full up front cost and move to a more expensive service.
If you could explicitly state what exactly is going to allow you to pay for the iPhone's initial purchase price on a monthly basis, it would be helpful and add clarity to your options.