The latest version of the Apples iPhone landed to much applause and fanfare a on 12th September. As usual, the official unveiling of this must have gadget was surrounded by the usual pomp and pageantry associated with everything Apple (including a very nice update to the iPod Touch… in which I may indulge).
So, let’s get down to the meat…
How much will the iPhone really cost me?
PAYG is nice and easy – a £529 one-off payment for the handset.
Contracts are a different matter. As you probably know, the mobile phone companies have to buy the handsets from Apple. They then have to make a profit on the contract.
So, on a two year contract, expect to pay £123 for the 16GB version, £185 for the 32GB and £248 for the 64GB.
But it doesn’t stop there. Now you need to add the cost of your contract on top.
How can you cut the cost of an iPhone 5?
You can’t. What you can do is to squeeze a few more pennies out of your existing handset.
If you already own an iPhone you could make yourself a tidy sum to use as a deposit on the latest version. Here are a few ways to get some money for your current iPhone:
Trade in your old handset for money at one of the many sites offering recycling services. There are plenty of sites out there so do your research (I’ve added a list of sites at the bottom of this post).
Be careful: any damage to your phone will result in you getting a lower price. Even if it’s minor damage that is easily repaired you could still lose at much as 20% off the quoted trade in price.
Cash back from your existing mobile supplier is another option that many ‘upgraders’ turn to. Generally, it’s fast, easy and the money is in your account in no time at all.
Again, the phones condition can affect the amount you get. The website may suggest you’re going to get £260 but if you tell a few porkies about the condition of the handset don’t be surprised if you get a cheque back for less.
You could get as much as £325 for an old iPhone 4S 64 GB, £200 for an iPhone 4 16GB, and £91 for an iPhone 3GS 16GB, according to recycling comparison website SellMyMobile.com.
eBay is still your friend but you still need to be careful. I wrote a guide to staying safe on eBay – make sure you read it.
The beauty of eBay is that you can set a price for your old phone. If nobody wants it you can simply relist it. It will sell at some point. As a general guide, look at what other people are selling for and then undercut them by a few pounds.
Selling your old phone to a friend for family member is another option open to you. It’s fast, easy and should be hassle free.
Obviously, it goes without saying that, you’re not going to rip off friends or family.