Albuquerque, New Mexico (what technology?) — Apple cuts trade-in prices on almost all of its products, with the iPhone taking the biggest hit. iPhone 13, 12, 11, X, and Xs dropped $80 when traded in for the new iPhone 14.
What difference does that make if you don’t plan to trade in the phone in the next few months? It may not be much, but it makes economic sense to upgrade every time a new phone is released. I thought that I had reached a point where I could agree.
On average, people tend to upgrade their phones every two years, which used to make a lot of sense. But after doing the math, I found that I always pay the same amount for the smartphone I use.
Here’s what I found when buying a new iPhone 14 with 128 GB of storage.
A brand new iPhone 14 is $799 or $33.29 per month. Trade in your iPhone 13 and you’ll get $400 in credit, bringing your iPhone 14’s cost to $399/month or $16.62.
Of course, I had to pay off the old phone, and I’ve already paid half of the $400, which is the same amount as the trade-in.
What if you’ve had an iPhone for more than two years? You’ve already saved $400 a year by not having to pay.
Let’s say you’re still using the iPhone Xs that came out four years ago. I saved $800 by not paying in installments. If you trade it in, you’ll pay $799 for the iPhone 14 and get $160 in the trade-in. This equates to a monthly savings of $13.33.
I also noticed that when you trade in an iPhone with more than 128 GB of storage, Apple doesn’t consider the value of your phone. At least, it’s not revealed on the company’s website. The iPhone 13 with 512 GB of storage has the same trade-in value as the iPhone 13 with 128 GB of storage.
This is if you buy a new phone directly from Apple, according to Apple.com, but here are the important parts: In poor condition, the value of the phone drops significantly.
An iPhone 12 with a cracked or scratched screen is worth nothing as a trade-in. Apple says it only recycles iPhones. So you’ve used up the entire cost of your new phone.
All calculations are based on Apple’s trade-in program. You might have better luck going straight through the carrier, especially if you’re trying to switch from one carrier to another. AT&T and Verizon offer much higher trade-in prices (for now). Receive exclusive savings and discounts when you shop.