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Other Why upgrading every year isn't as dumb as you think
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I wish I could upgrade every year! I normally get an iPhone on a £30pm deal with £0 up front, so they're never the latest model. My current phone is an iPhone SE (1st Gen) which I've had over 3.5 years. I am interested in the 12 mini though, that one may be just in my budget seeing the deals out for the 12. Pro models are way out of my reach!
Jokes on you. The Pro Max line is more like $61/month.
No it isn't. It's patriotic. People are fearing for their jobs, and with little gesture, the better-off ones that have the resources to do so, can help those who have less, and get a great phone in return.
Soooo happy to finally read someone mention the environmental impact of buying a new phone every year!I'm from Europe, and maybe this is a cultural difference to the US but atleast for me one of the things I love about using Apple products is that they hold well over a longer period. Not because I can't afford to buy a new one every year but because of the lower environmental impact that makes. It's really great that Apple have ambitious environmental goals, but lets not pretend that building the products comes without environmental costs (atleast for now. Still I really want to emphase that I find Apples environmental work amazing.
It's incredibly irresponsible to only consider the financial and practical benefits of upgrading frequently. The environmental impact of consumer electronic waste is well documented, and mobile phones are the most frequently purchased electronic device.
Before you consider upgrading because it will save you money or because of that great new camera, please consider the environmental costs on our planet. 🙏
Every year, I pay the whole cost upfront for the biggest, fanciest iPhone unlocked directly from Apple. This year, I will be selling my iPhone 11 Pro Max (256 GB) on eBay and buying the same size 12 Pro Max. I should get about $900-$950 for it as it is in mint condition. Accounting for eBay fees, PayPal fees, and the taxes I'll pay on the new 256 GB Pro Max, it will essentially cost less than $500 for me to upgrade.
Older iPhones obviously lose value each time a newer model is released, so I am paying only a tiny bit more than if I upgraded every 2 years or every 3 years and did the same thing. I would start saving serious money only if I kept my current phone for at least 4 years, and as a tech enthusiast I just can't bring myself to do that -- especially considering that this is a device I use for multiple hours every day.
In other words, upgrading your iPhone every year is actually not stupid or particularly expensive assuming you pay upfront, keep it in good condition, and sell the old one on eBay. Using this method, I am paying only a fraction of what those on Apple's yearly upgrade program pay. I understand that not everyone is in the financial position to do this, but if you are and are a tech enthusiast like me, I think this is the best way to do it.
If you enjoy new phones, then you are right it isn't as expensive to yearly upgrade as most people think. People think you are out the full price of a new phone every year. If you sell the old phone, the price does come down... I consider the difference to be worth it for the "entertainment" value.
That said, one metric you've forgotten is opportunity cost. Private selling your phone eats up a good chunk of time, and if you are unlucky with the buyer can be a big headache.
For me, I've decided that the few hundred bucks worth of time/hassle I save via a trade-in or phone buyback site is "cheaper" than my time to sell privately.
I'm pretty sure upgrading every year is exactly as dumb as I think it is. Spending $500 or whatever every year to own an iPhone is about as moronic as it gets.
I bought a like-new in the original box 256GB XS Max for CAD$800 in Summer 2019, less than 12 months from it's original launch. I've had it for over a year, and will likely keep it for another year.
So let's just say 2 years of ownership, and then I'll sell it for probably $500 or so. People are asking $600-$700 for them today.
My cost is $300 over 2 years to have an iPhone in my pocket. $150 per year vs. your $500.
If you REALLY think your iPhone 11 and now 12 do so much more than my XS Max that it's worth spending an extra $350 per year - $30 per month - to have the latest and greatest, more power to you.
I'll be the guy buying the 1 year old flagship iPhone for 1/2 the new price. Thankfully we have enough fanboys who are willing to take out loans to buy the new phones to keep the supply high in the second-hand market.
I bought a like-new in the original box 256GB XS Max for CAD$800 in Summer 2019, less than 12 months from it's original launch. I've had it for over a year, and will likely keep it for another year.
So let's just say 2 years of ownership, and then I'll sell it for probably $500 or so. People are asking $600-$700 for them today.
My cost is $300 over 2 years to have an iPhone in my pocket. $150 per year vs. your $500.
If you REALLY think your iPhone 11 and now 12 do so much more than my XS Max that it's worth spending an extra $350 per year - $30 per month - to have the latest and greatest, more power to you.
I'll be the guy buying the 1 year old flagship iPhone for 1/2 the new price. Thankfully we have enough fanboys who are willing to take out loans to buy the new phones to keep the supply high in the second-hand market.
Patriotic if you're from India or China I suppose.
Buying the latest phone does little to nothing to support the American economy. It might help keep some Apple stores open I suppose filled with high-churn minimum wage retail jobs, but it's doing very little to keep the American economy afloat.
I’m lookimg now I see listed prices of 875 but the only USED ones selling at that capacity are going for 750 or less so it kinda throws of the math of the original post.
Cool I’m glad that works for you I have had nothing but bad luck with those types of trade systems. Nothing but low ballers or people who say they want to meet up and don’t.
I've been on the iUP every year since the very first year they offered it, and I do upgrade every year. I keep a very close eye on my credit, and get full three-bureau credit reports quarterly, and I can confirm that it doesn't even show up as an open loan on my credit. I think it's like PayPal credit....they do a pull to check credit at first, but then it only gets reported regularly if the loan goes derogatory.
From a financial perspective, it's like buying a new car every year. iPhones lose most of their value in the first year of release with it gradually dropping for a few years after that before it drops off a cliff when Apple stops providing updates. If you want to do it, because you like having the new iPhone then go for it. It's ok to just want to have the new iPhone. You don't need to convince yourself that it's not dumb, or actually smart. It's just something you like, but let's not kid ourselves on the financial reality of what it means.
The smartest thing to do if you want to resell is to hold onto it for 3-4 years. Otherwise, I can assure you that if you don't upgrade your phone, you will never notice that the new ones are faster.
The smartest thing to do if you want to resell is to hold onto it for 3-4 years. Otherwise, I can assure you that if you don't upgrade your phone, you will never notice that the new ones are faster.
I wonder if it would be possible to just leave your phone activation locked when you send it to them.
Now when the buyer receives it, they will have no choice but to ask you to remove the activation lock. That proves that they got the phone. Now you can remove the activation lock so they can use it.
Seems like this would go a long way to eliminating this kind of fraud.
I disagree because the rubric in which one measures a phone as being the same of different varies by person.
With that said you don’t get to tell someone what to do with their paycheck.
Why do you feel the need to upgrade EVERY year? Because marketing says so? I keep my phone for 5-6 years before upgrading. I don't like wasting money every year for minor upgrades or upgrades that i don't need.
You're trying to make it sound bad by comparing it to a drug habit, but almost every person with disposable income (and many without!) have habits/hobbies/interests on which they spend money that isn't strictly "necessary." Maybe it's expensive wine, Jordans, jewelry, exotic vacations, car mods, whatever. I don't see how a new iPhone is any more (or less) like a "drug habit" than any other little luxury that one chooses to indulge in. And I say that as someone who has a 3.5 year old iPhone right now.
AT&T will give you $800 over 30 months. Verizon is $550 over 24 months, and T-Mobile is actually $850 over 30 months. The latter two are new customers only, but AT&T will give the same offer to an existing customer.
This is an idea, and I suppose it could work if you put that in your posting. But then the buyer may consider it too much of a risk and move on to a different listing.
Is that expensive for you? because 900$ Canadian equal about 675$ US. 675$ would be cheap for an 11 pro max
Less than $500 for a nominal upgrade of a $1200 phone that shouldn't need an upgrade after a single year seems pretty silly, unless you HAVE to have the latest (regardless of whether or not it improves your life at all).Every year, I pay the whole cost upfront for the biggest, fanciest iPhone unlocked directly from Apple. This year, I will be selling my iPhone 11 Pro Max (256 GB) on eBay and buying the same size 12 Pro Max. I should get about $900-$950 for it as it is in mint condition. Accounting for eBay fees, PayPal fees, and the taxes I'll pay on the new 256 GB Pro Max, it will essentially cost less than $500 for me to upgrade.
Older iPhones obviously lose value each time a newer model is released, so I am paying only a tiny bit more than if I upgraded every 2 years or every 3 years and did the same thing. I would start saving serious money only if I kept my current phone for at least 4 years, and as a tech enthusiast I just can't bring myself to do that -- especially considering that this is a device I use for multiple hours every day.
In other words, upgrading your iPhone every year is actually not stupid or particularly expensive assuming you pay upfront, keep it in good condition, and sell the old one on eBay. Using this method, I am paying only a fraction of what those on Apple's yearly upgrade program pay. I understand that not everyone is in the financial position to do this, but if you are and are a tech enthusiast like me, I think this is the best way to do it.
I am always able to sell my old phone and the difference is around 400, so if the phone I had costs 1500, then i can upgrade 4 times for the same price so I see no downsides and I sell at month 10-11 and go back to my iPhone se. And I always sell the phone within 7 days or less max.