iPhone and iPad Finance Plan Comparison

Seeing as how America’s largest wireless providers have gravitated towards the European pricing model for wireless devices, we as a nation, have no choice but to accept the fact that the days when walking into our local AT&T or Verizon store and picking up a $700 device, such as an iPhone, for $199 bucks are now behind us.

Back in the day, which, ironically enough, wasn’t too long ago, a customer wanting to upgrade their iPhone on AT&T, T-Mobile, Sprint or Verizon’s network, were given the option of receiving the device at a substantial discount — more formally known as a subsidy. So say, for argument sake, you were eligible for an upgrade and wanted the new iPhone 6s, right? Well you’d have been given the device for $199 or $299 or $399, depending on your desired model and storage capacity, as opposed to having to pay the full-retail $649, $749, or more up-front.

Nowadays, however, customers are expected to pay the full retail price for their device; although all of the big-four wireless carriers, and now even Apple, as well, offer financing options to customers. Moreover, the majority of these financing plans boast the ability to trade in and trade up to the subsequent generation of the device at no additional charge down the road, so long as monthly payments are up to date and account balances are kept current.

So what’s the best deal?

Well, as it stands, you have a few different options as far as financing an iPhone or iPad purchase is concerned: you can either buy your new iPhone or iPad directly from Apple, in which case you’d end up paying for the device in monthly installments — ranging from $32.45 to $42.45 a month for the 6s, and $37.45 to $47.45 for the 6s Plus. These purchase prices are also inclusive of 2-years of AppleCare + protection coverage through Apple.

You can also purchase directly from your wireless carrier, too, and in some instances, end up paying even less than you would at Apple. For example, on Verizon wireless, you can purchase the base-model iPhone 6s for $27.08 per month for 24-months, or the base model iPhone 6s Plus for $31.24 a month. Some carriers — such as T-Mobile, for example — offer even more affordable prices. Additionally, all carriers offer similar annual upgrade programs.

The big-four wireless carriers also offer monthly financing plans for the iPad line as well, with prices ranging from roughly $22 a month for the base-model iPad mini 4, to $26 a month for the base-model iPad Air 2, depending on your carrier.

All of the above mentioned iPhone and iPad financing plans are, for qualifying customers, subject to a 0 percent APR interest charge, and are relatively consistent across the board — in that, they’re available at almost all carriers.

Last but not least, there are also Apple’s traditional financing options, brought to you by PayPal credit, which will allow you to purchase any device on the company’s website — including the iPhone 6s or iPad Air 2 — at 12.99% interest for 6, 12, or 18-months, depending on your purchase amount. This option would be most ideal for customers, such as myself, who want an iPhone to use on an MVNO, no-contract wireless carrier such as RedPocket Mobile or SIMPLEMobile, but who don’t want to pay the out-of-pocket price for their new phone.

Will you be financing your next new iPhone or iPad purchase?