Other Buying out iUP and keeping the 12pro (but staying in iUP with my 13 Pro

[assquatch]

So I am in the iPhone upgrade program with the 12pro and just got the 13pro as part of the program. I happen to have a friend in need of a new phone who would like to buy out my 12Pro. Can I do this? I want to stay in the iUP, simply pay the loan balance on the 12 so it becomes mine, and continue being in the iUP with the 13 Pro I have now.


I don't see why this shouldn't work, other than potentially tangling up the return process and causing a hassle. Anyone done this or know how to approach it?


Thanks

 

[Wags]

Yes. They are actually two different loans. If you don’t turn in, you still owe. If you turn in, they pay off loan.

 

[dmontopoli]

So I am in the iPhone upgrade program with the 12pro and just got the 13pro as part of the program. I happen to have a friend in need of a new phone who would like to buy out my 12Pro. Can I do this? I want to stay in the iUP, simply pay the loan balance on the 12 so it becomes mine, and continue being in the iUP with the 13 Pro I have now.


I don't see why this shouldn't work, other than potentially tangling up the return process and causing a hassle. Anyone done this or know how to approach it?


Thanks

I am in the iPhone upgrade program and when I went to the Apple store on Friday to pick up my new iPhone and trade-in my old one, the specialist gave me the choice of trading in my 12 iPhone or keeping it and the loan. In both scenarios, I would remain in the iUP. So, you should be able to do what you want without a problem.

 

[Wags]

Buy out? Pretty sure can just still make payments on first device.

 

[BeatCrazy]

I did this. It actually worked out brilliantly in my favor.

I first paid off my iPhone 12 Pro Max @ $741. Apple then sent me a refund for $154 for the unused year 2 of AppleCare+ with Theft and Loss. I also got a partial refund of $8 for my 11th month. I also didn't have to pay the 12th month (~$50), like you normally would for the iUP in this scenario.

Then I took it directly to the Apple Store, were they gave me $785 Apple Store credit. Note- you cannot use this store/iTunes credit for another iUP loan. I plan on buying a S7 watch with it.

So instead of paying ~$50 for a 12th payment (because the 12 Pro Max came out late last year), and starting the iUP all over again, I "made" about $256, thanks to Apple's unusually high trade in value for the 12 Pro Max.

 

[dmontopoli]

Buy out? Pretty sure can just still make payments on first device.

You are correct. My original reply was not clear.

 

[assquatch]

Thanks for the replies. I just went through this and it was painless.

First I called Citizens and they said I would need to call apple to lift the hold on the account (return process was underway)
Next I called Apple and they cancelled the return of my 12 Pro.
Then they patched me through to citizens one (the regular number I would have called anyway) where I explained this and they let me pay off the loan.

Done and done. Took about 10 mins.

I am selling my phone to a friend for 700, and netting ~50 dollars back. I see on FB marketplace they appear to fetch 800 quickly, so we both got a great deal.

I plan to try and do this every year since value of the phone is always greater than the buyout (obviously, or they would not want it back). I pay into the iUP to avoid the annoyance of dealing with FB marketplace/Craigslist people, but if I can find a friend who wants to buy it then that is a win-win.

 

[sjperformance]

Thanks for the replies. I just went through this and it was painless.

First I called Citizens and they said I would need to call apple to lift the hold on the account (return process was underway)
Next I called Apple and they cancelled the return of my 12 Pro.
Then they patched me through to citizens one (the regular number I would have called anyway) where I explained this and they let me pay off the loan.

Done and done. Took about 10 mins.

I am selling my phone to a friend for 700, and netting ~50 dollars back. I see on FB marketplace they appear to fetch 800 quickly, so we both got a great deal.

I plan to try and do this every year since value of the phone is always greater than the buyout (obviously, or they would not want it back). I pay into the iUP to avoid the annoyance of dealing with FB marketplace/Craigslist people, but if I can find a friend who wants to buy it then that is a win-win.

I've been doing this for the last few years. Been on apple upgrade program for last 2-3 years. Friday picked up my 13PM. Saturday sold the 12PM that I had to return to apple. After pay off+1 year apple care + credit that apple lets citizen to deduct from balance my pay out left me with a total of $250 profit. That $250 covered the $211 I paid apple Sep 24 to pre order the 13PM. Which included taxes+first payment of next citizen loan. So basically it cost me nothing to upgrade and get the next iPhone. That's why I upgrade every year. What helps is that iPhones carry the best resale value and with todays inflation because of pandemic resale on iPhone are higher than usual.

 

[assquatch]

Another perk of this process is that it appears you will make the 3% cash back on the payoff. It is showing in my apple wallet.

 

[sjperformance]

Another perk of this process is that it appears you will make the 3% cash back on the payoff. It is showing in my apple wallet.

Yes. I always pay off and monthly payments with apple card. I made an extra $17.24 for my pay off using apple card.