By Josh Felder
Looking to buy the New iPhone?Not sure what the best/cheapest deal is? Well here is a breakdown for you on how to get the best deal!
I’m going to use a two-year cost formula; as most cell phone companies have two-year contracts, and the average user had used their phones for two years before they upgraded to a new phone. I’m going to use Verizon as an example on how you can save over $220 by purchasing an unlocked phone.
There are many options to choose from when it comes to buying the new iPhone, I prefer to buy an unlocked iPhone and choose my carrier without a two-year contract at lower plan prices and can switch anytime if a better deal comes along. You can buy the base iPhone 7 unlocked for $649 from most stores or Apple.
Apple has their own iPhone Upgrade Program that allows you to pay a monthly fee, and you trade in your iPhone for the latest one every year. Starting at $32.41 per month for the base model. With a prepaid plan at Verizon 3GB data & unlimited talk/text $45
That brings the two-year cost to $1,857.84
At Verizon, you can purchase the phone for $27.08 per month which equals $649 over 24 months. This requires you to choose from one of their two-year contract plans.
A base plan costs $55 month with 2gb of data & unlimited talk/text. Two-year cost for the plan and iPhone brings the total to $1,949.
If you were to buy an unlocked phone $649 and use Verizon’s prepaid plan, you could get 3GBs of data & unlimited talk/text for $45; your total 24-month cost would be $1,729.
A savings of $220 over 24 months! If you think that you would prefer to go with the Apple iPhone upgrade program to have a new iPhone every year and are willing to pay the extra $128.84. Then this is the best option for you.
Let me show you a method that can save you more money if you hold onto your iPhone and upgrade every two years.
Example: If you were to have bought an unlocked iPhone 6 $649 two years ago and want to upgrade to the iPhone 7 unlocked $649, Your unlocked iPhone 6 on Ebay currently can sell up to $380 in excellent condition. Which brings the cost of your new iPhone down to $269.
So if you sold your iPhone 6 on eBay, bought an unlocked iPhone 7 and a prepaid plan,
Your total two-year cost would be $1349 or $56 per month, which is by far the cheapest option.
Conclusion: Buy your iPhone unlocked and choose a prepaid plan from your preferred Carrier.