Purchasing the Latest iPhone 15? Everything You Need to Know About Apple’s Upgrade Program for iPhones

Earlier in the fall, Apple released the iPhone 15 and Plus, as well as the iPhone 15 Pro and Pro Max. Apple’s iPhone Upgrade Program might be a good fit for you if you’re the type of person who enjoys upgrading to a new iPhone model every year and you’re looking to upgrade now that the iPhone 15 has arrived.

In essence, the program is a “iPhone as a service” plan. The iPhone Upgrade program allows you to trade in your current phone for a new model after making 12 months of monthly payments, as opposed to paying the full price of the phone up front or even making monthly payments to own your phone after two years. You’re essentially paying a subscription fee for that privilege going forward.

Considering that the iPhone 15 series is now obtainable, this could be an excellent moment to upgrade. All you have to do to find out if your current phone qualifies for an upgrade is to visit Apple’s website and sign in with your Apple ID.

How does the iPhone Upgrade Program work?

You agree to pay off an iPhone you purchase from Apple over a 24-month period, whether you do so in-person, online, or through the Apple Store app. However, you qualify for a complimentary upgrade once you’ve made half of those payments. You can exchange your old phone for a new one after a year. After making 12 payments, the 24-month payment period and upgrade eligibility are reset.

Why buy from Apple instead of a carrier?

Apple sweetens the pot by offering the iPhone Upgrade Program customers a small discount on AppleCare Plus coverage. The insurance and extended warranty program offered by the company is called AppleCare Plus, and it would normally cost $8 per month for the iPhone 15, $9 per month for the iPhone 15 Plus, or $10 per month for the iPhone 15 Pro or 15 Pro Max. For the iPhone 15, AppleCare Plus costs $6.21 per month when you participate in the Apple Upgrade Program.

The one-year warranty is doubled to two years with AppleCare Plus, but that shouldn’t worry you too much if you intend to trade in your phone after the first year. Receiving accidental damage protection is the true benefit of AppleCare Plus. You can repair your phone with an unlimited number of accidental damage claims. The cost of a cracked screen is $29, while other unintentional damage comes to $99. With AppleCare Plus, phone support is also extended from the usual 90 days to two years.

How much does it cost?

Pricing ranges from $39.50 a month for the 128GB iPhone 15 to $74.91 a month for the 1TB iPhone 15 Pro Max.

What about AppleCare Plus with Theft and Loss?

If you’re more concerned about losing or having your phone stolen than dropping or breaking it, you can upgrade to AppleCare Plus with Theft and Loss coverage for a little extra money each month. AppleCare Plus with Theft and Loss provides coverage for up to two theft and loss incidents annually. Each replacement costs $149, which is still less expensive than purchasing a new iPhone. By adding $4.16 to your monthly Upgrade Program bill, you can upgrade to AppleCare Plus with Theft and Loss coverage, which allows you to replace a lost or stolen phone at a reduced cost instead of having to pay the full replacement cost.

How do I pay?

To register, you must have a credit or debit card, at least in the US. To be eligible for an installment loan in the US, Apple uses Citizens Bank, and you must have a credit card that is currently issued in the US. You cannot use a prepaid card to register.

Is there an age limit?

Yes. Sorry, kids, you need to be 18 years old to apply. (And given the prices of the new Pro models, I hope you’ll start being nicer to your parents.)

How do I trade in my current phone?

You can save the trip and purchase from Apple’s online store or the Apple Store app, or you can bring it to an Apple Store to make the swap there. An iPhone online order from Apple comes with a trade-in kit, which you use to package up your suddenly antiquated phone and return it to Apple. You have 14 days to return it to Apple.

What if my current iPhone is banged up?

According to Apple, your current iPhone needs to be in “good physical and operational condition.” That means it should:

• Be able to power on and hold a charge.
• Have an intact and functioning display.
• Have no breaks or cracks.

I haven’t made 12 payments yet on my current phone, can I still upgrade?

Indeed, but at a price. You can fast-forward the clock and get a new iPhone by paying the difference between your current balance and the total for 12 payments if you’ve made at least six monthly payments on your current phone.

Do I need to upgrade?

No, not entirely! It’s not required of you to upgrade. You can carry on using and paying for your current phone if you’re satisfied with it. When the 24-month period is up, you can sell it to help pay for the cost of a new phone when you’re ready, or you can sell it and keep using it without having to make a monthly payment.

How is this different than Apple’s Trade In program?

Keep in mind that Apple’s Trade In program and the iPhone Upgrade program are not the same. With the iPhone Trade In program, you are merely exchanging an old device for a discount on a newer one, even though you are exchanging your old iPhone for a newer model in both programs.

It is not recommended for you to take part in the Trade In program if you are enrolled in the iPhone Upgrade program because you do not actually own your device. You will be responsible for the remaining balance on both the new phone and the phone you were trading in if you choose to use the Trade In program.