How to get a new iPhone 8 for the best price possible. Selling an existing iPhone for the best price and being prepared to wait for good deals or maybe a used 8.
Buying Apple’s latest powerful smartphone as economically as possible
The advent of a new phone from Apple, in this case, the 8 and 8 Plus that debuted in September, provokes many existing iPhone users, and some Android aficionados ready to make a switch to iOS, to consider moving to the new model. If you’re one of them, then a key consideration is how to do so at the best price possible.
Starting at £700
The iPhone 8 kicks off at virtually £700 for the standard 4.7-inch handset with the lowest amount of storage (although this has been upped to 64GB compared to its predecessor’s 32GB) so it’s hardly a bargain basement phone – but then a new iPhone seldom is.Are there any ways to lower this price or make it a better value for money proposition?
The iPhone’s strong resale value
The upside of the iPhone is among the more expensive smartphones new and the fact so many people like them – over 1.2 billion have been sold since its 2007 inception – means used examples are worth reasonable money.
There are online specialists you can sell your Apple iPhone to; the process is quick and easy and you can have the funds in your account very quickly so helping to part finance your new iPhone 8.
Another option is part exchanging your iPhone against a new one; Apple Stores and some resellers are prepared to take them in and you can get an online valuation so you know where you stand before visiting the respective store.
eBay and other online selling websites such as Gumtree are options although it’s more time consuming than selling to a specialist online buyer or part exchanging your phone.
Buying the latest iPhone as soon as it’s released isn’t always the best option; the phone will naturally only be available at the full retail price and it’s unlikely that service providers will be offering particularly tempting contract deals at first. They may do so on the older models such as the iPhone 7 or the 6S, but the newest phone won’t be sold on price initially.
If you’re prepared to wait for a little until the dust has settled after launch, then more tempting deals may become available. Patience for a few months can pay dividends.
The mobile phone market generally is very competitive and mature in that many people own a phone already so new business is harder to come by. As a result, once the latest iPhone is ‘less new’ network providers may start to offer more appealing contract deals – you may even be offered a tempting upgrade direct from your provider even if you’re presently on a SIM-only arrangement.
One way to take the sting out of buying an expensive smartphone is looking at one or two funding options such as Apple’s own ‘upgrade programme’. This is an interest-free arrangement whereby you pay a set amount each month to buy your iPhone with the option to upgrade each year if you wish; you simply carry on paying and change to the new phone when it becomes available.
Funding the whole phone takes 20 months worth of payments with the option to upgrade after month 11.
You don’t have to upgrade; if you decide against it the phone is yours once you’ve paid the monthly payments covering its original retail price. You do have to pay an initial deposit up front and your arrangement has to include Apple Care, Apple’s support and hardware damage insurance scheme, which costs £129.00 on its own.
Apple also offers a 20-month interest-free payment programme; you aren’t obliged to take out Apple Care with this arrangement but there’s no upgrade option either.
Some Apple resellers may offer funding options of their own such as a repayment plan based on monthly instalments with interest charged, or maybe an interest free ‘buy now pay later’ arrangement which may give you, say, six months to find the lump sum the phone costs before reverting to a pay monthly plan if you don’t settle up within the agreed time frame.
Of course, funding your new iPhone by way of the above options don’t give you a cheap phone, but does mean you can defer much of the initial price.
If you’re prepared to wait a while longer, then it likely won’t be too long before used examples of the iPhone 8 appear. They would have to be down to a price to make it tempting against buying a brand new one, so keep an eye on websites such as Gumtree and eBay. It’s just possible someone has bought in haste or simply doesn’t get on with their new phone.
Being prepared to wait a while and being able to dispose of your present iPhone quickly and at a fair price will work in your favour when securing an iPhone 8 for the best overall price possible.