iPhone 8/Plus IUP vs ATT Next w/balance owed

[KJoFan]

If Apple is offering more for my trade in than I still owe on it with Next and ATT, do I end up with the balance in my pocket or does it end up a wash?

I owe $300 on my device that is eligible for upgrade after the 12 months of payments on Next, and Apple is saying my device is worth $370.

If I go through Apple to upgrade, do I get that remaining $70 credited to me or does it just disappear and my $300 balance is wiped out and I start over like it would if I went through ATT Next?

 

[KJoFan]

Ok, so what I learned on my own is that I can trade my phone into Apple for the $370 credit and send them the phone. I will still owe the $300 to ATT for the phone and would have to pay that off independent of the deal with Apple, or continue to make the payments until it's paid off even though I no longer have the device.

So, in the end, I would have the $70 left but the $300 would not directly translate to paying off ATT, it would be tied up in an Apple credit.

Sound about right?

 

[Aftermath747]

Ok, so what I learned on my own is that I can trade my phone into Apple for the $370 credit and send them the phone. I will still owe the $300 to ATT for the phone and would have to pay that off independent of the deal with Apple, or continue to make the payments until it's paid off even though I no longer have the device.

So, in the end, I would have the $70 left but the $300 would not directly translate to paying off ATT, it would be tied up in an Apple credit.

Sound about right?

That is correct.