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User profile for user: codyporche
codyporche Author
User level: Level 1
65 points

iPhone Upgrade Program: Paying off loan early a bad idea?

I've searched this and it has been brought up before. However, I have a question that goes one step further.


I know that if you pay off your Citizens loan early, the phone is yours to keep. However, I am curious what happens when the new iPhone comes out, can you simply buy into a new loan?


Heres the reason I am asking. I called Citizen like I do every month to make an extra payment. The lady told me to be careful and not to pay off the loan early because, "I wouldn't be able to get the new iPhone". I was baffled at this and need confirmation.


TL:DR: If I pay off my loan early, can I still get a new iPhone when it releases in September by opening up a new loan through Apple/Citizen?

Posted on Jul 24, 2017 8:11 AM

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User profile for user: Rysz
Rysz
User level: Level 8
44,421 points

Posted on Jul 24, 2017 12:27 PM

I think there's a bit of confusion here...

When you pay off the phone early, the phone is yours and the loan is payed off and you are taken off the iPhone Upgrade program. She was saying then, that you will not be able to get a new phone under that Upgrade program, but there's nothing stopping you from getting another phone, at any time, under a new iPhone Upgrade program.

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User profile for user: Rysz
Rysz
User level: Level 8
44,421 points

Jul 24, 2017 12:27 PM in response to codyporche

I think there's a bit of confusion here...

When you pay off the phone early, the phone is yours and the loan is payed off and you are taken off the iPhone Upgrade program. She was saying then, that you will not be able to get a new phone under that Upgrade program, but there's nothing stopping you from getting another phone, at any time, under a new iPhone Upgrade program.

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User profile for user: JohnWas
JohnWas
User level: Level 1
4 points

Nov 15, 2017 6:55 AM in response to codyporche

Paying off the loan might be a bad idea if:


A) You wanted to pre-order the iPhone X at 3 AM EDT on pre-order day to try to get delivery on release day.

and

B) You wanted an IUP loan for your new iPhone X.

and

C) You didn't mind trading-in your current phone.


Here's why: There were some glitches with new IUP sign-ups so many people who tried to join IUP for the first time at 3 AM EDT on pre-order day ended up having to re-apply hours later and got early December delivery dates. That would have been you if you had paid off the current loan and wanted a new one. The people with existing IUP loans were allowed you to pre-qualify for the upgrade loan, thus avoiding the glitches.


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iPhone Upgrade Program: Paying off loan early a bad idea?

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