How Does the iPhone Upgrade Program Work?

The iPhone Upgrade Program is a financing program offered by Apple that allows customers to purchase a new iPhone and upgrade to a new model every year. Customers make monthly payments on the iPhone and are eligible to upgrade to a new model after 12 payments have been made. In addition to the iPhone, customers also have the option to purchase AppleCare+ coverage, which provides additional protection for the device. At the end of the 12-month period, customers can choose to trade in their current iPhone for a new model, make a final payment to own the device outright, or continue making monthly payments on the device.

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