Understand the best way to pay for your iPhone

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We all want the latest technology, but the high price of the iPhone can make it difficult to pay for it. The good news for iPhone users who want to upgrade to the latest model is that lending to smartphones is commonplace.

You have several options to either pay the phone bill immediately or spread the cost over a period of time. These are some of the options you have available.

1. iPhone upgrade program with Apple

IPhone upgrade program with Apple
Source: Apple

With the current iPhone lineup as high as $ 1,100, Apple knows the price could be a bit higher. That’s why they have developed a program to help trusted customers and upgrade their phones on a regular basis.

Members are eligible for a new phone and a 0% APR loan for AppleCare + by splitting the cost of these services into 24-month payments. After making these payments 12 times, you can exchange your current phone for the latest version. When you trade in your phone, you will start paying a new 24-month installment loan.

If you sign up for this program, Apple is partnering through Citizens One. However, you can also apply from Apple’s website.

When you fill out the application, Apple will connect you to your carrier. Costs may vary slightly depending on model and storage options. For example, a standard iPhone 11 with 64GB of storage costs about $ 35 a month, while the most expensive model in the series, the iPhone 11 Pro Max with 512GB of storage, costs about $ 70.

2. Career finance

If you want to pay your phone bill through your current mobile provider, there is also an option here. Many wireless providers have plans for installments. If you sign a two-year contract, they may come with a 0% APR.

Unless you already have a trade-in phone, you may need to pay a down payment. Some carriers may charge an activation fee, typically less than $ 50.

Carriers such as Verizon and AT & T also offer upgrade programs. These allow customers to pre-finance new phones.

To get the latest phone, you usually have to pay at least 50% of the cost of your current phone before replacing it with a new one. There may also be additional requirements that depend on the current device and carrier.

3. Credit card financing

Certain credit cards may offer a loan. For example, if you have an Apple Card, Apple’s credit card, you are eligible for a 0% APR loan over a 24-month period.

This is a good deal as you don’t have to wait until the payment is complete and you get 3% back on your new phone at the time of purchase. If you have a phone that is eligible for trade-in, your monthly charges may also be lower.

If you make a purchase within 30 days of opening the card, Barclaycard will also finance Apple products. If you purchase an iPhone, you are eligible for a 0% APR loan for up to 18 months, depending on your iPhone model. This is a good option for new customers. However, it cannot be used by existing customers.

4. Personal loan

If you need a modern phone but don’t want to sign a two-year contract, you can raise your iPhone with a personal loan. It may also give you more flexibility to repay the phone by giving you a longer period of time to pay.

Also, you are not limited to any particular model of iPhone. Loan rates range from 6 to 36%, which can be one of the more expensive options. This can limit your options, as many personal loan providers may not offer loans under $ 2,000.

There is a loan matching service that offers a guarantor loan that allows you to buy a phone with a parent or family member who supports your loan.

That was a list of the best ways to pay for your iPhone!

There is no clear best option for funding a new iPhone, but consider which option will save you the most money in the long run and at the same time get the model you need.

For more information on options, always consider trading on your current phone and checking with your current provider. By spending time exploring options and waiting for discounts, you can get a good phone without overpaying.

Which do you choose? Share them in the comments below!

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