With pre-orders for the new iPhone X beginning this Friday, some of the major wireless companies are “competing” for your upgrade dollars. Sprint, Verizon, and T-Mobile have already announced their upgrade plan for people that need to have the new iPhone. However, the deals are not that spectacular and are very similar to one another. The big takeaway from these deals, if you choose to upgrade early, you will lose the money back you traded your old phone for.
Sprint is offering a deal through their Sprint Flex leasing plan. You will pay $22.22 per month for 18 months with a trade-in on your older device. The discount you receive for the new iPhone is spread out over 18 months, instead of the traditional 24. However, if you wish to keep the phone after the 18 months, you will need to pay off the device for 6 additional months. That will make it $41.62 per month for six months. After all is said and done, you will be getting the device for $649.68 if you go that route.
This option is available to current and new Sprint customers. The list of eligible devices for the discount includes: the iPhone 7 and 7 Plus, iPhone 6S and 6S Plus, iPhone 6 and 6 Plus, Samsung Galaxy S8 and S8 Plus, Samsung Galaxy S7 and S7 Edge, Samsung Note 5, LG G5, LG G6, LG V20, Google Pixel, Google Pixel XL, Moto Z Droid, Moto Z Play, Moto Z2 Force, Moto Z Force Droid, Moto Z2 Play, BlackBerry KeyOne, and the HTC U11.
For Verizon, you will receive a $300 credit toward the iPhone X if you meet certain criteria. You either have to be a current subscriber to their “Go Unlimited” or “Beyond Unlimited” plan. The device itself will cost you $41.66 per month.
Devices eligible for the upgrade:
- For $300 off: iPhone 6S or 6S Plus, iPhone 7 or 7 Plus, Google Pixel XL, LG G6, Moto Z2 Force, Galaxy S7 or Edge, Galaxy S8, or S8 Plus
- For $200 off: iPhone 6 or 6 Plus, iPhone SE, Google Pixel, LG G5, LG V20, Moto Z Force, Moto Z Droid, Moto Z2 Play, Galaxy S6 or S6 Edge, Galaxy S6 Edge Plus, or Galaxy Note 5
- For $100: iPhone 5, iPhone 5C, iPhone 5S, HTC 10, Moto Z Play, Galaxy S5, Galaxy Note Edge, Galaxy Note 4
You will receive the credit for the device in credits paid out over 24 months. So, in order to receive the full credit, you will have to keep the phone for the full two years. If you choose to upgrade early and pay off the balance, you will lose the remaining amount of the discount.
T-Mobile’s method is very similar. However, they will offer you a $300 credit for your device but will pay it out a bit differently. If you receive the full $300 credit, you will get $200 credit up front and the remaining $100 credit will be paid out over the next 24 months. Keep in mind that if you upgrade after the initial 12 months, you will be forfeiting the remaining monthly discount.
Through the Equipment Installment Plan (i.e., a spacing out the cost of the phone across 24 months:)
- 64GB: $279.99 down, with $30 per month payments for 24 months (for a total retail value of $999.99)
- 256GB: $429.99 down, with $30 per month payments for 24 months (for a total retail value of $1,149.99)
- Jump! On Demand (T-Mobile’s rental program)
- 64GB: $41.56 a month
- 256GB: $429.99 down, $24 a month