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Other Upgrade program question

D

dillonm

macrumors regular
Original poster
Mar 31, 2008
138
53
I bought the iPhone X two years ago on the Apple upgrade program. I only have one payment left and I’m trying to make the best financial decision possible. In the Apple Store app I can renew the upgrade program, get the 11 pro Max and pay 60 per month. But I get zero money for my current phone. Would it make sense for me to pay off the loan early then restart a new upgrade program? I feel like that’s a really stupid question?? But I also feel like I’m missing something.
 
Last edited:
It would be like turning in your car on lease after you payed it off. You have equity in the phone, use that to your advantage.
 
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Absolutely they will allow it. They have no way at all to stop you. You're about to own the phone - pay it off and sell it or keep it or give it to a family member. Start a new loan on a new phone.

The IUP really only "works" for buyers if you hand the phone back to Apple around the 12th payment. Earlier or later, you effectively leave money on the table.
 
dillonm said:
Is that cheating the system? Clearly they want to screw me out of money but will they allow that?
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They don’t want to screw you out of money. They don’t care if you make your last payment and keep your phone. You can buyout your device at any point in the iUP.
 
Knowimagination said:
They don’t want to screw you out of money. They don’t care if you make your last payment and keep your phone. You can buyout your device at any point in the iUP.
Click to expand...

Ok, but to avoid a second hard pull on the credit do you think I can re enroll in the upgrade program, (basically insinuating I will send my phone in) then simply not send it in, call and pay it off after I receive new phone then I’m good to go?
 
dillonm said:
Ok, but to avoid a second hard pull on the credit do you think I can re enroll in the upgrade program, (basically insinuating I will send my phone in) then simply not send it in, call and pay it off after I receive new phone then I’m good to go?
Click to expand...
I don’t see why that would be a problem.
 
Do they not do a hard pull on credit if you are merely upgrading (turning in last year’s phone and staying in program)?
 
You should be able to trade your phone in for $400 when you do your pre-order and set up your new IUP.
 
I may be wrong but the $60 per month is assuming no trade in. I don’t think they will ask for the phone back that was just paid off.
 
A new loan they will do a hard pull from Experian.
I just got pre-approved for a 11.
It's been 3 years since I had a Citizen's One loan which I paid off in 2 years.
I can get around $300 for my 7+ as I have the Mophie battery case, wireless charger adapter, etc...
 
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