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 principle of Net Present Value.

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Option 2

Upfront Cost

Monthly Cost

2 Year Total Cost (NPV)

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Upfront Cost

Monthly Cost

2 Year Total Cost (NPV)

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iPhone Savings Report

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Infographic Assumptions

Costs quoted in the above infographic reflect the Net Present Value (NPV) of a 128 GB iPhone 14 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 Extra^SM	AT&T Unlimited Extra^SM	AT&T Unlimited Extra^SM
T-Mobile	T-Mobile Essentials	T-Mobile Essentials	T-Mobile Essentials
Verizon	5G Do More	5G Do More	5G Do More
Visible	Visible Plan	N/A	N/A
Walmart Family Mobile	Family Mobile Plan – Truly Unlimited	N/A	N/A
Boost Mobile	Go Unlimited	N/A	N/A
Metro by T-Mobile	Unlimited High-Speed	N/A	N/A
Cricket Wireless	Unlimited Cricket	N/A	N/A
Straight Talk	Silver Unlimited	N/A	N/A
Page Plus	The $55	N/A	N/A
UScellular	Unlimited Data - Even Better 2.0	N/A	N/A
Consumer Cellular	Unlimited Data	N/A	N/A
H2O Wireless	Unlimited XL	N/A	N/A
Boom Mobile	Boom!RED 40GB	N/A	N/A
Republic Wireless	Everywhere You Go	N/A	N/A
Total Wireless	Totally 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 Extra^SM	AT&T Unlimited Extra^SM	AT&T Unlimited Extra^SM
T-Mobile	T-Mobile Essentials	T-Mobile Essentials	T-Mobile Essentials
Verizon	5G Do More	5G Do More	5G Do More
Cricket Wireless	Unlimited Cricket	N/A	N/A
Walmart Family Mobile	Family Mobile Plan – Truly Unlimited	N/A	N/A
Boost Mobile	Boost Mobile Unlimited $50	N/A	N/A
Metro by T-Mobile	Unlimited High-Speed	N/A	N/A
UScellular	Unlimited Data - Even Better 2.0	N/A	N/A
Republic Wireless	Everywhere You Go	N/A	N/A

Data is accurate as of 9:00 a.m. ET on 09/14/2022.

Notes:

Apple’s iPhone Carrier Device Payment Program ‐ the Apple Installment Plan ‐ allows users to pay for their phone in monthly installments made directly to Apple and upgrade to a new iPhone every year.

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.
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 and after at least 35GB of traffic.
AT&T currently offers only 36-month installment plans, for comparison purposes, the pricing has been adjusted to reflect a 2-year agreement.
AT&T currently offers the iPhone 14 for $0 when customers trade in a device and add an installment plan.
For AT&T, the price for the AT&T Unlimited Extra^SM plan assumes the activation of the Autopay & Paperless billing process and takes into account the $10 related monthly discount. The upfront cost assumes a $35 activation fee applies.
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 upfront cost assumes a $35 assistance charge and a $10 SIM fee will be applied. Owners of a valid T-Mobile SIM card will have the $10 charge waived.
For Verizon, the price assumes a one-time activation fee of $35. The price for 5G Do More plan assumes the activation of paper-free billing and Auto Pay billing process and takes into account the $10 related monthly discount.
Verizon currently offers only 36-month installment plans; for comparison purposes, the pricing has been adjusted to reflect a 2-year agreement.
For Cricket Wireless, the price for the Unlimited Cricket 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 Auto-Refill billing process and for the first 3 months takes into account the $2.50 related monthly discount.
For US Cellular, the price for the Unlimited Data - Even Better 2.0 plan assumes the activation of the Autopay & Paperless billing processes and takes into account the $5 related monthly discount.
For Metro by T-Mobile, the price for the Unlimited High-Speed plan assumes a one-off $20 per line SIM fee.
For H2O Wireless, the price for the Unlimited XL Plan assumes the activation of the AutoPay billing process and takes into account the $6 related monthly discount.
For Consumer Cellular, the price for the Unlimited Data plan assumes the activation of AutoPay & E-Billing processes and takes into account the $5 related monthly discount.
For Total Wireless, the price of the Totally Unlimited plan assumes the activation of the Autofill option and takes into account the $2.50 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, H2O Wireless, Boost Mobile, Metro by T-Mobile, Boom Mobile, US Cellular, Cricket Wireless, Republic Wireless, Visible, Consumer Cellular, Straight Talk and Total Wireless.

2022 iPhone Survey

The release of each new iPhone model is a big-money occasion for Apple. This year, though, buying a new iPhone may be a tough decision for consumers, with high inflation putting a strain on people’s wallets.

Depending on what features people want, they may have to shell out over $1,000 for a new device. While some people have the cash to pay for their phones upfront, others will finance their purchase. In fact, more than 1 in 5 Americans think that the new iPhone is worth going into debt, according to a nationally representative survey conducted by WalletHub.

WalletHub’s survey examined not only how the current economic environment has impacted Americans’ cell phone purchase plans, but also why people buy new phones, how essential phones are and more. Consumers looking to save money on a new cell phone purchase can also check out WalletHub’s Cell Phone Savings Calculator to crunch the numbers.

Key Stats

iPhone demand is rising: 24% more people plan on getting the new iPhone this year, compared to last year.
Few people judge not upgrading: 20% of people think that not having the new iPhone is a sign someone is struggling financially.
Budget carriers look appealing: More than half of Americans are willing to try a budget cell phone carrier.
Discontent with credit checks: Half of consumers don’t think it’s fair that cell phone carriers check your credit score.
MVP ‐ most valuable possession: More than a third of Americans say that their phone is their most important belonging.

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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?

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More Experts

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.

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Danielle Greene @danielleg_805

April 4, 2019

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

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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.

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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.

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Cell Phone Savings Calculator

Option 1

Option 2

iPhone Savings Report

Infographic Assumptions

Individual Plans

Family Plans (4 lines)

Notes:

2022 iPhone Survey

Key Stats

Ask the Experts

Community Discussion

Kristi Fisher @chynadollkf

Danielle Greene @danielleg_805

Phoebe Chongchua @_hoebe

Danielle Greene @danielleg_805

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