The Cost of the Latest iPhones
An iPhone’s primary cost factor is the price of the phone itself. However, prices vary based on which model you want and how much storage you choose. For example, you can find refurbished older iPhone models for extremely low prices on third-party marketplaces, while the newest iPhone 13 Pro Max with 1TB of storage can run you $1,599. As of March 2022, the cost of a new iPhone directly from Apple looks like this: If you choose to work with your wireless carrier and purchase a new iPhone, you can choose a monthly installment plan. This may provide a lower upfront cost, but you must stay with the carrier until the iPhone is paid for or pay the balance due before switching to another carrier.
Carrier Subsidies Aren’t Going to Return
It used to be that customers could purchase iPhones for significantly lower costs because phone companies subsidized part of the cost to entice you to use their service. Unfortunately, the subsidy system is no more, and it’s highly unlikely it will return. However, when new iPhone models are released, major carriers, including AT&T, Sprint, T-Mobile, and Verizon, will sometimes offer price reductions for trade-ins. Carriers also occasionally offer incentives for purchasing an iPhone. Check with your carrier about any promotions that make it obtaining an iPhone worthwhile.
Regional and Prepaid Carriers Sometimes Have Cheaper Prices
If you are working with a smaller, regional carrier that offers iPhones, you may be able to pay less than the full cost of an iPhone. However, these carriers may not have the latest iPhone models, their monthly payment plans may be more limited, and they serve mainly rural areas. However, it’s worth checking with your regional carrier to see if its options work for you.
Monthly Voice and Data Plans
You’ll need to factor in the monthly cost of your carrier’s voice and data service when thinking about the price of an iPhone. This cost will vary depending on your wireless carrier and your plan. For example, a T-Mobile Magenta plan with unlimited 5G & 4G LTE data and mobile hotspot data will cost you $70 per line or $140 for a family of four. Verizon’s prices are similar, while Google Fi’s Simply Unlimited plan is $60 per month for one line or $30 per person for four (with unlimited data.) Prepaid plans are generally less expensive. For example, Metro by T-Mobile has a four-line unlimited plan that starts at $120 a month for one line or two lines at $70 per month. The best prepaid cellphone plans also often include taxes and fees, so the costs are more straightforward.
Other Costs
You don’t want to spend hundreds on a new iPhone and then toss it in your purse or pocket without a protective case. Plan to put a case on the iPhone as soon as you get it. The best iPhone cases can cost from $40 to $100 and often feature protections against water and allow for wireless charging. The iPhone comes with Apple’s standard warranty, but you may want to extend that protection by adding Apple Care to your iPhone. The price of AppleCare differs based on your model; expect to spend between $129 to $199 for two additional years of coverage. The price goes up if you add theft protection. If you buy your iPhone through Apple’s iPhone Upgrade Program, AppleCare+ is included in the price.
