The Best Time to Buy an iPhone
Knowing when to buy a new phone, especially a new iPhone, can be key to getting the best deal. Apple follows a consistent annual pattern, launching its new iPhone models each year in early September. For buyers, understanding this schedule and how it affects pricing is crucial for making the most of seasonal promotions and sales.
Will the iPhone 16 Go On Sale in 2024?
In the weeks leading up to the launch of the Apple iPhone 16, people paid top dollar for innovative new features such as the AI-driven Apple Intelligence system and the most powerful version of the Bionic chip. However, the launch price point is imposing, from $799 for the standard iPhone 16 to $1,199 for the iPhone 16 Pro Max.
For almost a decade, Apple has followed a typical release pattern and rarely discounted its new phones. The 2023 launch of the iPhone 15 series followed the same pattern, with these new models retaining premium prices from launch. They held this price for approximately a year until the current iPhone was around the corner. Official sales on the iPhone 16 probably won't happen until the next iPhone launches, but there are other ways to get a discount on the latest tech.
Apple’s Pricing Strategy for New Models
Apple maintains consistent pricing for its latest iPhone models well into the following year. At the Apple Store, the newest iPhones, like the iPhone 16, stay at their initial price points, while older models see reductions. For instance, during the iPhone 15 release in 2023, older iPhones received up to $100 in price cuts as the focus shifted to the new model.
Apple has historically offered promotions through the Apple Store instead of outright discounts on new models. During seasonal events like Black Friday, Apple often includes gift cards with purchases. For example, in 2023, buyers received a $75 gift card with the purchase of an iPhone 15. This trend will continue in 2024, with buyers receiving added value rather than direct price reductions on new iPhones.
Black Friday and Seasonal Sales
Even though Apple keeps prices firm at launch, major retailers and carriers introduce their sales during Black Friday. In 2023, Verizon offered trade-in bonuses and package deals that included a new iPhone 15 and other Apple products, such as an iPad or Apple Watch, for customers who signed up for unlimited data plans. A similar pattern is anticipated for 2024’s Black Friday promotions on the iPhone 16.
Sales events like Black Friday allow buyers to get added value, either through trade-in offers or bundled deals. If you’re willing to switch carriers or update your current plan, it’s an excellent time to consider upgrading to the latest iPhone.
Vendor-Specific Sales and Promotions
Retailers like Amazon and Best Buy have historically provided discounts independent of Apple’s pricing policies. These retailers often add value during major sales events through bundled accessories, extended warranties, and other offers. For instance, in 2023, Best Buy reduced the price of the iPhone 14 Plus from $829 to $779 and offered gift card promotions on other models. In 2024, we can expect similar deals on the newest iPhone and the older iPhone 15 series.
The Best Time to Buy the iPhone 16
With Black Friday approaching, the right time to buy a new iPhone is now. While you may not get a direct discount on the iPhone 16, you can get added value and significant bonus deals from Apple and third parties. If the latest iPhone is outside your budget, don't despair; this is also the perfect time to buy last year's model.
Buying Last Year’s iPhone Models
Not everyone needs the latest model. Opting for last year’s iPhone can save you substantial money without sacrificing quality or features.
Price Reductions After New iPhone Launches
Apple typically reduces the prices of its previous-generation iPhones after the release of a new model. This pattern occurred with the iPhone 15 series after the launch of the iPhone 16 in 2024. The iPhone 15 models received a $100 price drop during this period. This strategy helps Apple clear older inventory while maintaining the premium perception of its new model.
If you’re not set on having the newest model, waiting for price adjustments after the iPhone launches is a reliable way to save money while enjoying a powerful device.
Black Friday Deals on Older iPhones
Black Friday is an ideal time to purchase an iPhone from the previous generation. In 2023, Walmart offered substantial discounts on older models like the iPhone SE 2022, reducing its price to $149 from $379. Other retailers, such as Amazon, provided significant price cuts on refurbished and renewed iPhones like the iPhone 13 and iPhone 14.
These seasonal sales present an opportunity to buy a new phone at a lower price without compromising features or quality. Even during Black Friday, buyers can often find unlocked older iPhones at competitive rates, making them suitable options for those looking to save money.
Consider Buying Refurbished iPhones
For budget-conscious buyers, purchasing a refurbished model can be a great way to buy a new iPhone at a discounted price. Apple and its authorized retailers offer certified refurbished devices, including models like the iPhone XS or iPhone 13, which come with warranties and quality checks. Refurbished devices often provide similar performance to new models but at a reduced price point.
Sell Your Apple iPhone to Buy the New One
When upgrading to a new iPhone, it’s essential to consider what to do with your current phone. Selling it quickly, before it loses further value, can help maximize your budget for a new device.
Apple Trade-In Program
Apple’s Trade-In Program is a straightforward option that provides store credit in exchange for your current phone. While convenient, this program offers credit rather than cash, which restricts your purchasing options to Apple products. This limitation can be restrictive if you intend to buy a new iPhone from other retailers or carriers where cash is more valuable.
Selling Through Online Marketplaces
Another popular option is selling through online platforms like eBay or Facebook Marketplace. This method often yields a higher payout, but it comes with challenges like negotiating prices, dealing with potential scams, and managing unreliable buyers. Selling online also requires time, making it less practical if you need immediate funds for limited-time deals.
Selling to ecoATM for Quick Cash
ecoATM is an efficient solution if you prefer a quick and secure sale. Unlike Apple’s Trade-In Program, ecoATM provides cash instantly, giving you the flexibility to use it as you wish. This cash payment is especially useful during Black Friday, when having cash on hand allows you to take advantage of promotions at other retailers.
How to Sell to ecoATM
- Locate a Kiosk: Use our kiosk locator to find a kiosk near you.
- Receive an Offer: Place your current phone in the kiosk to get an automatic evaluation and cash offer.
- Get Paid Instantly: If you accept the offer, our kiosk dispenses cash immediately, allowing you to reinvest the funds right away.
Why Selling Your Current Phone Quickly Is Important
Depreciation affects all smartphones, including iPhones. On average, an iPhone loses around 15% of its value within the first year and over 50% after three years. This depreciation accelerates with each new iPhone launch as older models become less in demand. Selling your current phone quickly before it depreciates further ensures you have adequate funds to upgrade to a new iPhone model.
If you want to lock in the best value for your phone and capitalize on the best time to buy an iPhone, now's your chance. Sell your old device today at the nearest ecoATM kiosk!