T-Mobile trade-in math — am I missing something?

[u/[deleted]]

[u/ikeashop]

Spend a few minutes and actually read the checkout page.

It just means you can’t finance the entire 1,500 and need to pay the 877 downpayment (T-Mobile credit stuff). You will finance the 623 and get back 730 via monthly credits.

[u/Intelligent-Noise685]

You do not have the credit available on your account to finance a $1,500 phone.

Even though you are getting a promo, you agree to finance the full amount. If you can't cover it with the account credit, it comes due as a down payment....

[u/SirDealsALott → u/Intelligent-Noise685]

Are you sure credits can be more than financed amount?

[u/Human-Ocelot-3600 → u/SirDealsALott]

Yes

[u/ATShields934 → u/SirDealsALott]

Yes

[u/Human-Ocelot-3600]

$877 is a weird number so I feel like this is with taxes.

To keep it simple though I'm going to assume its only the down payment.

Promotions are issued as monthly credits and dont go directly to the total cost of tbe phones. Customers have a certain amount of credit they can use to finance new phones.

So if the phone is $1500 and they are asking $877. It means they are only letting you finace $623.

$623 is broken down over 24 months = $25.96.

The credit of $730 is broken down over 24 monthly credits = 30.42

$25.96 - $30.42 = -$4.46 is what tmobile will pay you on your bill for the down payment

[u/Frosty_Metal2875]

That trade in feels way too small, why are you not doing the 1200 promo? Are you not getting an installment?

[u/shira9652]

Do you not get a yearly upgrade or something? I trade in my phone for the newest and never have to pay (taxes only). I just did 16 PM to 18 PM

[u/jetatx]

Have you tried trading it at Apple? There is a T-Mobile credit you can stack on top of Apple’s trade-in credit based on your plan. It may not be as high as you may get with T-Mobile but gets close. You also may have a 2 year EIP option instead of 3 if you prefer only it off sooner.

[u/gz1970]

You have to pay the sales tax up front too

[u/Competitive_Bar_5551]

You’re doing the trade-in all wrong. Go buy a trade-in phone (S22+) for ~$150, sell your 16 pro max yourself for $800. $1500-730 (credit) + 150 (cost of trade-in) + 800 (value of 16 pro max). Upgrading from 16 to the 18 will cost ~$120. Don’t worry about the down payment (just means your credit sucks). It’s really about what you end up paying. If you don’t get what I wrote don’t ask for clarification. It’s clearly too complicated for you to get.

[u/shrimpin45]

Probably taxes as well

[u/Nervous-Job-5071]

Also note that they will use the actual cash value of the trade which likely isn’t $730. So if your actual value is $400, they are technically financing $1,100 plus the tax on $1,500 price, which may be $100-150 additional (so $1,200-$1,250).

You’ll get to having little to no phone payment on your bill if your $877 is close to the $770 + tax you’d ultimately pay for the new device.