Cell Phone Calculator

Should you get the newest cell phone or keep your older model? How do installment plans and contracts measure up? This calculator will help you compare the total cost of plans with different price structures over the next two years. Total costs are based on the accounting principal of Net Present Value.

Option 1

Option 2

Upfront Cost

Monthly Cost

2 Year Total Cost (NPV)

-

Upfront Cost

Monthly Cost

2 Year Total Cost (NPV)

-

iPhone Savings Report

Embed on your website

Infographic Assumptions

Costs quoted in the above infographic reflect the Net Present Value (NPV) of a 64 GB iPhone 11 under the following types of plans:

Individual Plans

	NO CONTRACT (BUY PHONE UP-FRONT)	INSTALLMENT PLAN (CARRIER)	INSTALLMENT PLAN (APPLE)
AT&T	AT&T Unlimited & More	AT&T Unlimited & More	AT&T Unlimited & More
Sprint	Sprint Unlimited Basic	Sprint Unlimited Basic	Sprint Unlimited Basic
T-Mobile	T-Mobile Essentials	T-Mobile Essentials	T-Mobile Essentials
Verizon	Start Unlimited	Start Unlimited	Start Unlimited
Visible	Visible Plan	N/A	N/A
Walmart Family Mobile	Family Mobile Plan – Truly Unlimited	N/A	N/A
Boost Mobile	Boost Mobile Unlimited Gigs	N/A	N/A
Metro by T-Mobile	Unlimited High-Speed	N/A	N/A
Cricket Wireless	Unlimited Cricket Core	N/A	N/A
Straight Talk	Ultimate Unlimited	N/A	N/A
Page Plus	The $55	N/A	N/A
Virgin Mobile	Unlimited	N/A	N/A

Family Plans (4 lines)

	NO CONTRACT (BUY PHONE UP-FRONT)	INSTALLMENT PLAN (CARRIER)	INSTALLMENT PLAN (APPLE)
AT&T	AT&T Unlimited & More	AT&T Unlimited & More	AT&T Unlimited & More
Sprint	Sprint Unlimited Basic	Sprint Unlimited Basic	Sprint Unlimited Basic
T-Mobile	T-Mobile Essentials	T-Mobile Essentials	T-Mobile Essentials
Verizon	Start Unlimited	Start Unlimited	Start Unlimited
Cricket Wireless	Cricket Core Plan	N/A	N/A
Walmart Family Mobile	Family Mobile Plan – Truly Unlimited	N/A	N/A
Boost Mobile	Boost Mobile Unlimited Gigs	N/A	N/A
Metro by T-Mobile	Unlimited High-Speed	N/A	N/A

Data is accurate as of 9/17/2019.

Notes:

Apple’s iPhone Upgrade Program – the Apple Installment Plan – allows users to pay for their phone in monthly installments made directly to Apple and exchange their devices for the latest model every 12 months (6 months with advance payment). Since this program is not affiliated with any particular carrier, users can avoid signing up for multiyear service contracts and select the carrier or plan they find most advantageous at any given time.

With that in mind, we combined the cost of Apple’s monthly installment plan with that of the most advantageous data plans available from individual carriers to provide a more-detailed comparison. One thing to note is that AppleCare is mandatory with the Apple Installment Plan, while carriers offer it as an extra option when phones are purchased through them.
For family plans, we assumed one device would be purchased and three existing devices could be included in the data plan with no compatibility issues. These lines are new connections with the carrier; thus, they pay activation fees.
All plan data was collected for online pre-orders. Installment-plan costs assume excellent credit.
We considered single unlimited plans that might reduce the data speed only if the network was crowded or after at least 35GB of traffic.
For AT&T, the price for the Unlimited &More plan assumes the activation of the Autopay & Paperless billing process and takes into account the $10 related monthly discount.
For T-Mobile, the price for the Essentials plan assumes the activation of the AutoPay billing process and takes into account the $5 related monthly discount. The final installment payment will be rounded so that the final total price of the item will be $699.99. The upfront cost assumes the acquisition of the phone through an unassisted channel (i.e. on-line), else a $20 assistance charge will be applied. Owners of a valid T-Mobile SIM card will be waived the $10 SIM card charge.
For Verizon, the one-time activation fee of $20 assumes the purchase was done through VZW.com or the My Verizon App. The price for the Start Unlimited assumes the activation of paper-free billing and Auto Pay billing process and takes into account the $10 related monthly discount.
For Sprint, the price for the Unlimited Basic plan assumes the activation of the AutoPay Plan and takes into account the $5 related monthly discount.
For Cricket Wireless, the price for the Unlimited Cricket Core plan assumes the activation of the AutoPay billing process and takes into account the $5 related monthly discount.
For Page Plus, the price for the $55 plan assumes the activation of the Auto Refill billing process and takes into account the $5 related monthly discount.
For Straight Talk, the price for the Ultimate Unlimited plan assumes the activation of the 3 months Auto Refill billing process and takes into account the $5 related monthly discount.
In order to identify the best plans for low-cost carriers WalletHub analyzed the existing offers of the following carriers: Walmart Family Mobile, Page Plus, Boost Mobile, Metro by T-Mobile, Cricket Wireless, Virgin Mobile, Visible and Straight Talk.

2019 iPhone Survey

The release of each new iPhone model is a big-money occasion for Apple, the world's second largest company by market capitalization and fourth most popular hedge fund stock . However, this year may not be as profitable as usual. 28% fewer people plan on buying the new iPhone this year than last year, according to a nationally representative survey conducted by WalletHub.

Buying a new iPhone is a big decision for consumers, who may have to shell out over $1,400 for the new device at a time when credit card debt is on track to have another record high year. But even though fewer people will buy a new iPhone this year than last, millions are still willing to pay out for the upgrade. The key, it seems, is that credit scores are at lofty historical levels, too. In other words, installment plans and other financing arrangements will help the iPhone remain popular into its second decade.

But what are the reasons that people get a new phone, and how much are different demographics willing to pay? Below you can find the answers to those questions, along with additional highlights from WalletHub’s 2019 iPhone Savings Survey.

Key Stats

Break it before buying it: 144 million Americans only buy a new phone after their current device breaks, as opposed to waiting for a good deal or a new launch.
iPhone users are big spenders: Nearly 4 in 10 people would pay at least $200 extra to get an iPhone instead of an Android phone.
Young Americans spend more: Millennials will pay 41% more than baby boomers for a new phone, on average.

Like our calculator? Please help us spread the word.

Think we can do better? Let Us Know

Ask the Experts

To help people learn more about Cell Phone Savings Calculator, WalletHub's editors posed the following questions to a panel of experts. You can meet our panelists and read their responses below.

How much cheaper must a 2-year agreement be for a cell phone user to sacrifice the flexibility of not having a contract?
To what extent does the secondary market for cell phones (e.g. eBay) alter the price comparison for no-contract plans?
To what extent do major carriers differ in terms of the breadth and strength of their wireless networks? Are there any differences in terms of security?
What does the FCC’s bill-shock agreement mean for consumers?
How popular do you think Apple's "new iPhone every year" plan will be among consumers? To what extent will it impact the installment plans offered by carriers themselves?

< >

David Youland Assistant Professor, Southwestern College Kansas
Molly Hein Assistant Professor of Business, University of Dubuque
Jack McCann Ph.D. – Associate Professor of Marketing and Business, Union College

While WalletHub’s Cell Phone Savings Calculator can be eye-opening, it’s also helpful to leverage the WalletHub community. Our members have a wealth of knowledge to share...show moreshow less

Kristi Fisher @chynadollkf

May 10, 2017

How can I dispute my bad credit? I was a victim of identity theft.

·

Danielle Greene @danielleg_805

April 4, 2019

Have you visited the Federal Trade Commission's website?? They have information on identity theft.

·

Phoebe Chongchua @_hoebe

September 25, 2016

Do the other non-Apple plans calculate insurance in the overall price of the phone or would the insurance fee be an additional monthly fee added on top of these prices? The Apple installment plan, of course adds it in.

·

Danielle Greene @danielleg_805

April 4, 2019

I'm pretty certain that Verizon, for example, charges an additional monthly fee for insurance. It's about $13.00 per device/per month. For higher end devices. Such as the Galaxy S10 or S10 plus.

·

Cell Phone Savings Calculator

Option 1

Option 2

iPhone Savings Report

Infographic Assumptions

Individual Plans

Family Plans (4 lines)

Notes:

2019 iPhone Survey

Key Stats

Ask the Experts

Community Discussion

Kristi Fisher @chynadollkf

Danielle Greene @danielleg_805

Phoebe Chongchua @_hoebe

Danielle Greene @danielleg_805

Join WalletHub