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How can you save money when buying an iPhone?

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Quick Answer

To save money when buying an iPhone, look out for discounts from retailers, trade in an old phone or sign up for a new contract. Buying an unlocked phone and choosing an inexpensive contract or purchasing a refurbished phone are also ways to save money.

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Full Answer

iPhones can be expensive devices, but there are several ways to save money when upgrading to a newer iPhone. One option is to scout out deals from retailers. For example, when the iPhone 6 and 6 Plus launched, Walmart offered customers a $20 discount. Retailers like RadioShack also offered iTunes gift cards for customers who bought the new iPhone model.

Trading in an old iPhone can be an excellent way to shave a few dollars off of a new iPhone purchase. Walmart, RadioShack and Target all offered trade-in programs for customers who bought the iPhone 6. Carriers like Sprint, Verizon and T-Mobile also offered trade-in programs. In addition, Apple offers its own trade-in service that lets users send back old iPhones in exchange for a gift card to purchase a new iPhone model.

Signing up for a new contract can help save money on the upfront cost of an iPhone. Instead, carriers build the cost of the phone into the contract, which helps distribute the cost over time.

Although choosing a new contract can be an attractive offer for users who do not have money upfront to buy a new phone, purchasing a phone directly from Apple can save money over the long term. Although unlocked phones can be expensive, there are a variety of less expensive plans available, which can make the long term cost of owning a phone much cheaper, according to Market Watch.

Purchasing a refurbished phone is another good way to save money on the initial cost of the iPhone. Apple offers certified refurbished products through its official website.

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