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)

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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 13 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	Play More Unlimited	Play More Unlimited	Play More 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	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	Ultimate Unlimited Nationwide	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 Plan	N/A	N/A
Boom Mobile	Boom!RED	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	Play More Unlimited	Play More Unlimited	Play More Unlimited
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	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
Visible	Visible Plan	N/A	N/A

Data is accurate as of 09/21/2021.

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 13 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.
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 $20 assistance charge will be applied. Owners of a valid T-Mobile SIM card will have the $10 SIM card charge waived.
For Verizon, the price assumes a one-time activation fee of $35. The price for Play More Unlimited plan assumes the activation of paper-free billing and Auto Pay billing process and takes into account the $10 related monthly discount.
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 $5 related monthly discount.
For UScellular, the price for the Unlimited Data - Even Better 2.0 plan assumes the activation of the Autopay & Paperless billing process and takes into account the $5 related monthly discount.
For Metro by T-Mobile, the price for the Unlimited High-Speed plan assumes a $10 per line SIM fee charge and a waived Assisted Support Charge fee of $30 per line assuming the customer will be self-servicing online.
For H2O Wireless, the price for the Unlimited Plan assumes the activation of the AutoPay billing process and takes into account the $5 related monthly discount.
For Boost Mobile, the price for the Unlimited Plan assumes a $10 monthly discount for 6 months after the first month of service.
For Visible, the single line price assumes a $25 cost for the first month and $40 monthly cost for the remaining 23 months.
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, UScellular, Cricket Wireless, Visible, Consumer Cellular and Straight Talk.

2021 iPhone Survey

The release of each new iPhone model is a big-money occasion for Apple. This year, though, many people may not want to increase their monthly phone spending, as the U.S. is still working to recover from the economic damage done by the COVID-19 pandemic. The unemployment rate is still high at 5.2% and total credit card debt stands at around $900 billion, which means that buying a new iPhone is an even bigger decision for consumers than usual.

Depending on what features people want, they may have to shell out over $1,000 for a new device. For some people, that's too much. In fact, only 24% of Americans plan to spend more on their phone this year, according to a nationally representative survey conducted by WalletHub.

WalletHub’s survey examined not only how the COVID-19 pandemic 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 still high: Despite high unemployment, 1 in 3 people plan on getting the new iPhone this year.
MVP ‐ most valuable possession: Almost 2 in 5 Americans say that their phone is their most important belonging during the pandemic.
iPhones and debt: Nearly 1 in 5 people think that the new iPhone is worth going into debt for.
Few people judge not upgrading: 15% of people think that not having the new iPhone is a sign someone is struggling financially.
Discontent with credit checks: 45% of consumers don’t think it’s fair that cell phone carriers check your credit score.

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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?
How has the pandemic impacted the smartphone market? What will be the long-term aftermath and what are some ways to sustain growth in this industry?

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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:

2021 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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