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Apple Announces New Trade Up With Installments Program (betanews.com)
Mark Wilson writes: Today, Apple launched a new program called Trade Up With Installments, which makes it possible to upgrade to the latest iPhone in a more affordable way. As the name suggests, this is more than a straight trade-in program - upgraders can use the trade-in value of their old handset to reduce on-going monthly costs. This is something that will appeal not only to people with older iPhones who are looking to get their hands on a newer model, but also ex-Android fans. Apple is opening up the program, so Android handsets can be traded in and their value offset against the cost of a new iPhone. Windows Phone handsets are also eligible. Trade Up With Installments is slightly different to the existing iPhone Upgrade Program and trade-in option. After handing over your old handset (be it iOS, Windows Phone or Android powered) for part exchange for a new iPhone, you'll then (assuming you qualify) be extended credit and allowed to pay off the remaining balance over 24 months.
I could see people trading in Windows Phone for an iPhone. Not because the iPhone is more usable (many Windows Phone users would argue this isn't the case) but because of the iPhone's richer ecosystem and brighter future. But trade in an Android for an iPhone? Maybe carrying a high end Android phone colors my judgement, but I don't see why anyone would want to do that. Heck, just being able to open the phone's internal storage and SD card in a browser without having to funnel everything through iTunes is worth sticking with what I have. Not to mention, the fact that it takes an SD card, supports widgets, supports sideloading, has a user replaceable battery, and all the other usual stuff.
I think a legitimate question would be, what happens with all those traded-in phones every time Apple comes out with some incremental improvement? I would hate to think it just ends up as electronic waste. (I'm not trying to make a point here; I'd really like to know.)
Oliver's law of assumed responsibility: If you're seen fixing it, you will be blamed for breaking it.
So instead of a $600 iPhone (that cost a fraction of that to make), I get to pay $1200 over the course of 2 years... what a deal. This is the kind of predatory crap I expect from a loan shark not from... oh wait, nm.
I'm not surprised that Apple is trying to get in on this action as "buy now, pay later" deals are a huge business just like credit cards and once you're hooked... I got a friend of mine who lacks impulse control, maxed loans and maxed credit card debt. But he's a "functional shopoholic" meaning he manages to pay interest every month. And of course complains that he's short on cash, well I'd be too if that much of my paycheck just disappeared on top of my fixed costs. And what it means is that every time he gets a little breathing room he feels he's been frugal for so long the temptation to splurge is so great he ends up right back where he started. It's a negative spiral.
Personally I'm the other way around, if I have some leftover disposable cash I'll make a down payment on my mortgage - no credit card debt - so that next month, I'll have even more disposable cash. That's the positive spiral, once you have a growing surplus it becomes easier and easier not to spend all of it. I realize that most people can't make the huge investments like house and car without loans. But a phone? If I couldn't buy an iPhone outright, I'd just get some cheap-ass Android phone until I could. Because what happens when you bat outside your economic league is it catches up to you, my friend's economy is just getting worse and worse relative to mine. Which of course doesn't help...
Live today, because you never know what tomorrow brings
...then strongly consider purchasing a cheaper phone. Maybe go refurb or buy last years model for instance. But don't get sucked into the constant upgrade cycle that marketing leads us to believe is inevitable.
Trade-in programs are never worth it. They're always designed in favor of the house - you are much better off just selling your device on ebay, craigslist, or swappa.
Frankly I don't understand why people keep buying iphones. They're not the best devices on the block anymore.
BeauHD. Worst editor since kdawson.