Taewan Kim
John Bergmayer
Matthew Osborne
Michael D. Grubb
Mark Ratchford
Amar Cheema
Kristi Fisher @chynadollkf
How can I dispute my bad credit? I was a victim of identity theft.
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Cell Phone Savings 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)
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Upfront Cost
Monthly Cost
2 Year Total Cost (NPV)
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iPhone Savings Report
Infographic Assumptions
Costs quoted in the above infographic reflect the Net Present Value (NPV) of a 64 GB iPhone XS under the following types of plans:
Individual Plans
| NO CONTRACT (BUY PHONE UP-FRONT) |
LEASE PLAN | INSTALLMENT PLAN (CARRIER) |
INSTALLMENT PLAN (APPLE) |
|
|---|---|---|---|---|
| AT&T | AT&T Unlimited | N/A | AT&T Unlimited | AT&T Unlimited |
| Sprint | Sprint Unlimited Plus | Sprint Unlimited Plus | Sprint Unlimited Plus | Sprint Unlimited Plus |
| T-Mobile* | T-Mobile ONE Plan | T-Mobile ONE Plan | T-Mobile ONE Plan | N/A |
| Verizon** | Go Unlimited | N/A | Go Unlimited | Go Unlimited |
| Walmart Family Mobile | Family Mobile Plan — Unlimited | N/A | N/A | N/A |
| Boost Mobile | Boost Mobile Unlimited Plan | N/A | N/A | N/A |
Family Plans (4 lines)
| NO CONTRACT (BUY PHONE UP-FRONT) |
LEASE PLAN | INSTALLMENT PLAN (CARRIER) |
INSTALLMENT PLAN (APPLE) |
|
|---|---|---|---|---|
| AT&T | AT&T Mobile Share Flex | N/A | AT&T Mobile Share Flex | AT&T Mobile Share Flex |
| Sprint | Sprint Unlimited Plus | Sprint Unlimited Plus | Sprint Unlimited Plus | Sprint Unlimited Plus |
| T-Mobile | T-Mobile ONE Plan | T-Mobile ONE Plan | T-Mobile ONE Plan | N/A |
| Verizon | Go Unlimited | N/A | Go Unlimited | Go Unlimited |
| Walmart Family Mobile | Family Mobile Plan – Unlimited | N/A | N/A | N/A |
| Boost Mobile | Boost Mobile Unlimited Plan | N/A | N/A | N/A |
Data is accurate as of 9/18/2018.
Notes:
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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 paying activation fees.
- All plan data was collected for online pre-orders. Installment-plan costs assume excellent credit.
* T-Mobile’s ONE plan provides all members with Unlimited 4G LTE data. Customers who use more data than 97% of T-Mobile’s customers (currently over 26GB per month) will have their usage prioritized below other traffic and may notice slower speeds. Customers are required to set up autopay.
** For a limited time, when you buy an iPhone 8, iPhone 8+, iPhone X, iPhone XS or iPhone XS Max you can save $700 on your second iPhone when you purchase both on a Verizon device payment plan and activate a new line of service. You can also get a guaranteed $100 minimum trade-in with the purchase of an iPhone XS, XS Max, 8, or 8+ on a Verizon device payment.
Expert Opinions
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Taewan Kim
Asistant Professor of Marketing, Lehigh University
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John Bergmayer
Senior Staff Attorney, Public Knowledge
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Matthew Osborne
Assistant Professor of Marketing, Department of Management, University of Toronto
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Michael D. Grubb
Assistant Professor of Economics, Boston College
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Mark Ratchford
Assistant Professor of Marketing at Vanderbilt University, Owen Graduate School of Management
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Amar Cheema
The Frank S. Kaulback, Jr. Professor of Commerce in the McIntire School of Commerce at University of Virginia
More Experts
Community Discussion
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, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered....show moreshow less
Phoebe Chongchua @_hoebe
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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