Apple Revamps iPhone Trade-Up Program, Now Easier Than Ever to Upgrade Devices

Originally unveiled back in February, Apple’s “Trade-up with installments” program for iPhone was intended for users who pay for their iPhones via monthly installments, to trade in their devices after a certain period of time elapsed and upgrade to the latest model — for instance, from an iPhone 6 to an iPhone 6s.

And while the program seemed simple enough at launch, Apple has recently made it even easier to trade in your iPhone — or other eligible smartphones — for the latest model, by offering customers a “store credit,” which could then be applied towards the purchase of a new device. The changes, which took effect earlier this week, allow customers to use that trade-in credit to lower the cost (or monthly carrier payment amounts) constituent of a new iPhone purchase.

With these changes, Apple appears to be releasing itself from the bondage of offering in-house financing on new iPhone handsets — instead leaving that aspect of the program up to the discretion of its wireless carrier partners. In any case, consumers who elect to trade in their device for a new iPhone — pending their previous device’s condition — will receive up to a $250 towards the purchase of a new iPhone at full-cost via their carrier’s monthly installment financing plan.

While the typical trade-in payout has decreased to $250 from the original $300 that was employed back when the program first launched, Apple is now touting on its website that customers trading in their device will be able to reduce their monthly payments on a new one substantially — although it’s not entirely clear how exactly that would all play out.

The cool part is that customers can now trade in any eligible smartphone — regardless of the device’s manufacturer, with payouts ranging anywhere from $25 to $250 depending on the device and its condition.

Customers looking to jump on this offer can either visit a physical Apple Store near them (for immediate store credit), or ship their current device to Apple and receive an Apple Store gift-card via U.S. Mail. While a fairly broad range of devices are eligible for the program, not all devices are, and therefore, Apple is suggesting that anyone interested in this program verify current trade-in options and values through the company’s exclusive trade-in partner, BrightStar.

Apple currently lists trade-in values of eligible Apple devices on its website. However, keep in mind that these quotes are given for fully functional devices in “good” condition. For instance, an iPhone 6 or 6 Plus in good condition can currently be traded in for $225 or $250, respectively; while older models — such as the iPhone 5s, 5/5c, and 4s — can be traded in for $125, $75, and $50, respectively.

Given that the iPhone 6s is currently not listed as an option, we assume that Apple isn’t accepting trade ins on current generation devices — however, keep in mind, that’s likely bound to change when the ‘iPhone 7’ touches down later on this fall.

Are you planning on trading in your older iPhone for a new one? Let us know in the comments!