Other iPhone Upgrade Program Question

[AppleMan2015]

Hi All,

I am currently part of the Apple Upgrade Program. As of right now, I owe $750 still on an iPhone XS Max 256GB.

If I go ahead and get the iPhone 11 Pro Max 256GB and use this phone as a trade in, I would be getting $600 for the phone.

How exactly does this work? Does the balance carry over to the new phone? Would I still be responsible for the $750?

Can someone help me understand this? Also, do you think $600 for this phone is a poor trade in offer?

 

[zea]

Hi All,

I am currently part of the Apple Upgrade Program. As of right now, I owe $750 still on an iPhone XS Max 256GB.

If I go ahead and get the iPhone 11 Pro Max 256GB and use this phone as a trade in, I would be getting $600 for the phone.

How exactly does this work? Does the balance carry over to the new phone? Would I still be responsible for the $750?

Can someone help me understand this? Also, do you think $600 for this phone is a poor trade in offer?

I don’t know about the trade in value being a good offer or not, but I seriously doubt you’ll be able to trade in a phone you haven’t paid off yet. Or if it lets you, you will have to pay the remaining balance on that phone. You’re better off upgrading through the iPhone Upgrade Program if you have 12 months paid, or paying off the rest of the XS Max and then using that to trade in for a new phone not on the iPhone Upgrade Plan.

 

[vin1717]

You would have to pay the $750 out of pocket and the $600 is applied as a credit to your monthly payments. You're better off paying the remaining balance, selling independently, and use that cash for the new phone.

 

[mrt209]

Assuming you are eligible for an upgrade, once you return the phone your loan is paid off and a new loan is created for the 11 Pro Max.

 

[AppleMan2015]

Assuming you are eligible for an upgrade, once you return the phone your loan is paid off and a new loan is created for the 11 Pro Max.

Ah that makes sense. I just went thru this actually preparing for the pre-order.

So what happens is: I owe $750. I order the new phone it arrives. I send back this phone I owe $750 on and a new loan for ~$1499 will end up starting which would be the same amount for the original loan. The $750 will be credited and I will only owe $1499.

So I end up paying ~$800 for the phone for a year in order to keep it brand new and current. That’s not that bad honestly. Next year will end up being the same.

 

[waynester]

I’m on same boat but I’ll be selling my wife’s X and using the money to pay off my XSMax. Will be cheaper than buying the new 11 and it’ll have AppleCare+ for another year. Looks like you can still sell the plus for more than the $600 trade in value

 

[AppleMan2015]

I’m on same boat but I’ll be selling my wife’s X and using the money to pay off my XSMax. Will be cheaper than buying the new 11 and it’ll have AppleCare+ for another year. Looks like you can still sell the plus for more than the $600 trade in value

I actually completely didn’t understand... the $600 is for an actual trade in. I’m on the upgrade program, so I’m not trading in any other phone. I was confused.