Ways To Save Money For a New iPhone 16 Pro

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Oct 15, 2024

Ways To Save Money For a New iPhone 16 Pro

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The release of the iPhone 16 Pro has tech enthusiasts and Apple fans buzzing about its new features, apple intelligence and the cutting-edge technology. Apple products always garner attention, whether they are AirPods 4, Apple Watch, Apple TV or an iPad. With specs such as the 48MP fusion camera, A18 Pro chip, and iOS 18, Apple has once again set the bar high.

However, the price tag for the iPhone 16 Pro Max and other models might seem out of reach for many people. If you're thinking about getting your hands on this new iPhone and haven’t been able to preorder due to your budget, you’re in the right place. Here’s the best way to save money for your new Apple iPhone 16 Pro.

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Look for trade-in offers

One of the most efficient ways to save money for a new iPhone is by trading in your current device. Apple and major carriers like Verizon, AT&T, and T-Mobile offer trade-in programs where you can exchange your old iPhone for credit toward a new one. If you currently own an iPhone 14 or iPhone 15 Pro Max, you might be eligible for significant discounts on your iPhone 16 Plus or 16 Pro Max. Some trade-in deals can reduce the cost of the new iPhone by up to $1000, depending on the model and condition of your current phone.

Sell your current phone

While trade-in programs are convenient, selling your current phone in your own could potentially fetch you more money. Selling your phone on sites like eBay, Facebook Marketplace, or even local ads can offer a higher payday than a trade-in program would. If you're selling an older iPhone model like the iPhone 14 or a competitor device like a Samsung or Pixel, it should be factory reset, cleaned, and well photographed to appeal to the most buyers.

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Watch for cell phone carrier promotions

When Apple launches a new iPhone, carriers often introduce special promotions. Companies like Verizon or AT&T might offer discounts for new line activations or upgrading to unlimited data plans. These deals can help reduce the initial upfront cost, especially if you're willing to switch carriers or looking to start a new line anyway.

Opt for a payment plan

Many carriers, stores and even Apple itself offers easy installment payment options, allowing you to pay off your new phone over time. While this won’t actually reduce the price, spreading out the cost over 24 months can make the purchase more manageable. Look for no-interest financing, if you can’t afford the full cost upfront but still want to buy the latest iPhone.

Buy a lower storage model

The iPhone 16 Pro Max comes in various storage sizes, ranging from 128GB to 1TB. While the larger storage options are tempting, they significantly increase the price. Think how much storage you actually need before purchasing. Use cloud services like Apple iCloud, Google Drive, or Dropbox to store larger files and photos, which frees up space on your phone, allowing you to buy the base model and save money.

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Wait for refurbished models

Apple’s certified refurbished program offers previously owned iPhones that have been inspected, cleaned, and restored to like-new condition. These phones come with a one-year warranty, and the prices are considerably lower than brand-new pro models. You may have to wait a few months post-launch for the iPhone 16 Pro to appear in the refurbished section, but the savings are worth it. You can save up to 15% by waiting for the certified refurbished model.

Skip the extra features

The iPhone 16 Pro Max comes with many tempting features, including the 48MP ultra-wide camera, A18 Pro chip, and improved battery life. However, if these high-end features aren't essential to your needs, consider the base iPhone 16 Pro or even the more affordable iPhone 16 Plus. You'll still get to experience the new phone’s design and improved camera system, camera control button, and USB-C charging, but at a lower price.

Shop with third-party retailers

Third-party retailers like Amazon, Best Buy, and even big box stores like Costco may offer discounts you can’t find at the Apple Store. Stores may offer price-matching, so keep an eye out for holiday sales or Black Friday deals after the release of the new iPhone to save even more money.

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The bottom line

With the iPhone 16 Pro and its iPhone 16 Pro Max counterpart being some of the most advanced iPhone models in terms of functionality and photographic styles, it’s understandable why so many people are eager to upgrade. The iPhone 16 boasts incredible features such as the action button, 48MP fusion camera, and new telephoto capabilities, which make it highly appealing to photography enthusiasts and tech aficionados alike. With careful planning and smart shopping strategies, you can be well on your way to owning the latest iPhone without breaking the bank.

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Holly is a freelance writer who recognizes that there isn’t a one-size-fits-all approach to personal finance. She is passionate about entrepreneurship, women in business and financial literacy. When she is not working, she is testing out new recipes, tasting the newest Trader Joe’s finds or binging the latest true crime podcast. She resides in Utah with her husband, two daughters and dog, Max.

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