The iPhone 6s will be available in stores starting September 25th, which means now is the time to decide if you should buy it, lease it, or leave it sitting in the display case of the store.
While you may WANT the phone (who doesn’t?), whether or not you get it should be based on need, not desire.
That’s where we come in.
We’ve calculated factors such as up-front costs, monthly usage, payments and more to help you figure out what option will work best for you.
Here’s what we discovered:
What The iPhone 6s Has To Offer:
The newest iPhone has added lot of new features and improvements, most noticeably a 64-bit A9 processor chip, 3D Touch, 12 MP pictures and 4K video.
The processing chip allows the phone to function more like a computer, with no-glitch streaming and gaming capabilities.
So multi-task until your hearts content
3D Touch lets the phone interpret what you want based on the pressure you use when pointing or touching, for faster responses and improved function.
Finally, the enhanced camera and video features means you can take and view stunning, professional quality photos, movies and more right on your phone.
Buy It:
Anyone who wants to can buy the iPhone 6s for $649 (16GB), $749 (64GB), or $849 (128GB) when it becomes available to use with any carrier.
You pay up-front for the phone and it is yours free and clear.
You will also need to pay an additional $129 for Apple Care protection in case something happens to the phone.
Buying the phone works best for anyone who has cash readily available and doesn’t want to be hampered with monthly payments.
It is also a good choice for those who don’t want to upgrade every 12 months for a newer phone.
However, if you need to charge the phone on a credit card to pay (meaning you will need to still pay it off) or like to upgrade frequently you might want to consider leasing instead.
It’s also not a good idea if the up-front costs will set you back on other expenses.
As impressive as the phone is it isn’t worth going into debt for, so buy it ONLY if you can.
Lease It:
Leasing is a new options from Apple, allowing you to pay for the phone in monthly installments over a 24-month period.
You must be approved for leasing, which is subject to credit approval and the phone is unlocked, so it can be used with any carrier.
You are also able to upgrade to a new phone every 12-months (at which time you begin another 24-month pay cycle).
Leasing installments are as follows: $32.41/month (16GB), $36.58/month (64GB) or $40.75/month (128GB).
Apple Care costs an additional $129.
So for the 16GB phone it will cost you $777.84 for the when the 24-months are up, plus the $129 for Apple Care, for a total of $906.40.
Leasing is good for those who do not have the cash to pay all at once, but can afford to pay monthly.
It’s also a good idea for those who like to upgrade when new phones become available.
However, you are paying more for the phone (about $130 more for whichever model you choose) and since it is a lease the phone technically still belongs to Apple.
Which means if you are accident prone and something happens that cannot be fixed you are responsible.
So if you are on a tight budget and don’t really need to upgrade this is not a good idea.
Again, you don’t want to come up short every month just to have the newest phone.
FYI: If you buy the phone directly from a carrier with a 2-year plan you can pay less than buying directly from Apple, but there are 3 major drawbacks:
1) You may need to pay an activation fee or put down an initial deposit.
2) Many will require a longer pay-period. For example, with AT&T the iPhone 6s (16GB) costs $21.67 over 30 months (upgrade available after 24 payments), so you will be paying for almost 3 years.
3) You will be stuck for 2-years unless you pay an early termination fee to switch to another company. AT&T charges $325 to terminate.
Leave It
Finally, even though you may want the phone, consider whether or not you really need it.
Do you use all the features and upgrades it comes with?
Do you use your phone for business transactions (such as emails or making/taking payments)?
If the answer is no you may want to hold off on getting one.
A phone is an investment, so make sure it is something you will use before you put your hard earned money into it.
What do you think of the new iPhone 6s?
Tell us if you plan to buy it, lease it or leave it below and be sure to follow all my latest consumer news reports on Twitter!
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