Trading in iPhone 16 Pro for iPhone 17 Pro using Apple Card

cubecritter wrote:

In November 2024, I used my Apple Card to purchase an iPhone 16 Pro. Obviously still paying it off. Does anyone know what my options are for trading the 16 Pro in and purchasing a 17 Pro using my Apple Card?

I know the obvious option would be to pay off the 16 and then trade it in toward the 17, but wondering if there is another way? I read something about having to pay at least 12 months on the old phone before being able to trade in and start payments all over but I didn’t enroll in the iPhone upgrade program when I got the 16.

Thanks in advance!

[Re-Titled by Moderator]

Original Title: Purchasing next iphone

You answered your own question. You have to pay off your current phone, then you can trade it. The trade up program has nothing to do with buying a phone using your Apple Card. You could talk to Goldman Saks if you want and it's possible you could trade your current phone and use your Apple Card to finance it, which would mean you'll have two payments, one to finish paying off your current phone and the other for the new phone. But no matter how you do this, you still owe whatever the remaining balance is on your current phone.

Phil0124 wrote:

Actually, You don’t need to finish paying it off immediately. You can trade it in to get a discount on the new one. You’ll end up paying for both on your Apple Card. The Apple Card monthly installments do not preclude trade in, but the trade in, will not negate what you still owe on it.

So you’ll be paying for both.

I should have edited the first part of my response. We both came to the same conclusion at the end. They still owe for the current phone and if they trade it for a new phone, they'll have two payments, paying for both phones at least until the first phone is paid off.

Actually, You don’t need to finish paying it off immediately. You can trade it in to get a discount on the new one. You’ll end up paying for both on your Apple Card. The Apple Card monthly installments do not preclude trade in, but the trade in, will not negate what you still owe on it.

So you’ll be paying for both.

lobsterghost1 wrote:

Phil0124 wrote:

Actually, You don’t need to finish paying it off immediately. You can trade it in to get a discount on the new one. You’ll end up paying for both on your Apple Card. The Apple Card monthly installments do not preclude trade in, but the trade in, will not negate what you still owe on it.

So you’ll be paying for both.

I should have edited the first part of my response. We both came to the same conclusion at the end. They still owe for the current phone and if they trade it for a new phone, they'll have two payments, paying for both phones at least until the first phone is paid off.

Indeed.

While I'm not suggesting the Author doesn't understand how loans work, it's amazing how many people don't. I had a friend once, who bought an expensive item on credit and they later sold it. They were highly incensed the credit card company was still billing them for something they no longer owned. And they just didn't understand why they would be expected to continue paying for what they no longer owned. I kept trying to explain that they borrowed money and the credit card company doesn't care what you do with the item after you buy it. You owe what you agreed to pay.

Exactly. Totally. The Loan does not go away because the time is no longer in your possession or even if it no longer exists. The Loan must be payed regardless of what you do with the item you used the loan to pay for.