Apple’s new Trade Up With Installments plan makes it more affordable to upgrade your iPhone
Apple really, really wants you to stop using that old iPhone and to upgrade to a new one. On Thursday, the company announced the Trade Up With Installments plan, the third purchase plan customers can opt into when buying a new iPhone.
The Trade Up With Installments plan is targeted at users of the iPhone 4, 4s, 5, 5c, 5s, 6, and 6 Plus and is only available at the Apple Store. You can bring in your old iPhone and Apple will give you credit for the device, and then you can pay off the new unlocked iPhone in monthly installments.
How much will Apple give you for your old iPhone, and how much are the monthly fees? CNET has a helpful chart that lists the maximum trade-in values (the condition of the device influences the value) and your monthly payment, which varies depending on the iPhone you upgrade to. For example, if you trade in an iPhone 4 in excellent condition, you can get $100 credit in the trade-in, and if you want to upgrade to an 16GB iPhone 5s, the monthly fee is $14.58. If you pick a 128GB iPhone 6s Plus, the monthly fee is $35.37.