iphone upgrade value vs pay-off

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iphone upgrade value vs pay-off

My question is, do they actually determine value and/or issue a credit if value exceeds payoff amount? or do they just wipe the slate clean if upgrading, regardless of what you owe on Citizens One Loan?

Meaning.. I realize that once you've made 12 payments, as long as your phone is in good working order, they will wipe the slate clean, and upgrade you to the new phone. Essentially making your last 12 payments But lets say you've made.. idk.. 18 payments.. 20 payments.. Obviously you owe less than someone with the identical phone, who's only made 12 payments. If you've only got 6 or 4 payments left, and you went to trade it in. Then do they issue you a credit for the difference of if you only had 12 payments left? or does that not matter and anything 12 months or less, is just wiped clean?

iPhone X, iOS 11.4.1

Posted on Jul 10, 2018 10:22 AM

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Answer 1

Top-ranking reply

Michael Black

Level 10

80,647 points

Jul 10, 2018 12:15 PM in response to sterlingwayne

That’s something I think you’ll want to call Apple and get their official response. From the information online about the iPhone upgrade program, I’d say no (How to upgrade - iPhone Upgrade Program - Apple). There is no mention of any prorated credit to you if you upgrade later rather than sooner. There’s actually no mention at all about any evaluation of the dollar value of your device. Apple just pays the remainder of your bank loan and gets you approved for another 2 year 0% loan from the finance partner.

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Answer 2

Jul 10, 2018 12:16 PM in response to sterlingwayne

Hi

This is just a user to user forum nobody hear works for Apple We are just users of apple devices we help with software problems.

You will need to ask the loan company this question.

Cheers

Brian 🇬-1F1E7;

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Answer 3

Jul 10, 2018 1:10 PM in response to Michael Black

Thanks Michael Black. I figured they probably didn't.. If anyone was in that particular situation, I would assume it would be more beneficial to them to just pay off the balance and sell it locally. I myself, like some others, make double or even triple payments if I have the extra cash. (You can sign onto Citizens One and make extra payments) But if they only pay off the remainder, regardless of what that remainder is, then it would actually not seem beneficial to make those double/triple payments at times, because they'll pay off the same amount whether you have 12 payments left, or only 6.. So in essence, if you're planning on upgrading in 12 months to the new phone, you're throwing away those extra payments.

Thanks for the info!

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Answer 4

Jul 10, 2018 1:03 PM in response to Briansyddall

Yes, I know that no one here works for Apple, but that doesn't mean a user hasn't already experienced this and might provide an answer with their personal experience in the matter? That being said, I do appreciate the feedback.

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iphone upgrade value vs pay-off

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