Renting an iPhone? Yes, it's a bizarre tale! Here's what you need to know before opting for the latest iPhone model through this method.

Apart from cash and installment payments, Apple plans to introduce another method: renting iPhones. Many claim that Apple's iPhone rental service offers a chance to experience premium iPhones at an incredibly low cost without the need for purchase. So, what's the truth behind this story? Let's find out in this article by 24h Technology.

Is renting an iPhone cheap?

Firstly, according to some overseas sources, the iPhone rental service will be rolled out earliest in the US market.

The specific costs for renting the iPhone 13 series are as follows: you'll need to pay around $35 per month (~800,000 VND) for the iPhone 13, $45 (~1,029,000 VND) for the iPhone 13 Pro, and $50 (~1,143,000 VND) for the iPhone 13 Pro Max.

When comparing with Apple's installment service, you'll immediately notice the downside here: On Apple's official website, the monthly installment price for an iPhone 13 Pro Max over 24 months is $45.79, which is $4 cheaper than the rental price.

You might wonder why you should rent when installment purchasing is cheaper, and after paying off, you own the device. Renting is more expensive and you don't even get to keep the phone. So, let's delve deeper into the reality of installment purchasing and renting iPhones.

Apple's Installment Plans Every iFan Should Know About

Firstly, it's important to note that Apple's direct installment option is only available in certain markets, and unfortunately, Vietnam isn't one of them. Therefore, it's not possible to compare Apple's installment prices with those offered by financial companies in Vietnam.

At the current time, Apple offers two different installment plans. The first one is a 24-month installment plan.

For example, if you want to finance an iPhone 13 Pro Max, you'll need to pay about $45 per month continuously for 24 months, and then the device will be yours. This means you'll have to stick with the new phone for a minimum of 2 years.

The second plan is the 24-month installment plan with upgrade. This plan is similar to the one above, but you'll have an additional benefit of being eligible for a free device upgrade once.

For instance, if you purchase an iPhone 13 Pro Max with this plan, within the 2-year installment contract, you'll be able to upgrade to the next-generation iPhone Pro Max completely free. Of course, you'll have to pay more than the previous plan, which is $54 per month.

Analysis of the iPhone rental plan in detail

What's intriguing is that this rental plan falls right between the two installment plans mentioned above. As mentioned earlier, you only need to spend around over 1 million VND per month to use the latest iPhone, most importantly, you'll automatically get the newest device every time Apple launches one (e.g., iPhone 14 Pro Max, 15 Pro Max, 16 Pro Max, etc.).

If you find yourself stuck with your iPhone constantly with the basic installment plan or spending too much for the upgrade installment plan, then the rental plan, with fees between those two plans, allows you to continuously switch iPhones whenever Apple releases a new one.

This rental plan is extremely suitable for those who have a preference for owning the latest iPhone without spending a lot of money to purchase the product outright.

Is it only Apple that benefits from renting iPhones?

It's undeniable that under the rental scheme, Apple will naturally make more money than selling an iPhone outright.

According to information from Phone Arena, users tend to upgrade their iPhones every 3 years, and according to Bloomberg, the average selling price of the latest iPhone is about $800.

For that same iPhone, under the rental scheme, Apple earns around $1260 (35 USD x 36 months), not to mention Apple will reclaim the iPhone when you upgrade, and where that old iPhone goes, only Apple knows.

Alongside Apple's significant financial benefits, users also benefit. If we just consider the numbers, users undoubtedly have to spend more than buying outright.

But they're willing to trade off to always experience the latest premium iPhones each year without having to spend too much money at once.

When will the iPhone rental service be available in the Vietnamese market?

Imagine a scenario like this: You rent an iPhone 13 Pro Max for 1 million VND per month, 4 months later, the iPhone 14 Pro Max is released, you take your rented phone to exchange it for the new one and unbox it for the second time.

Compared to having to spend a large amount of money, around 30 million VND, and figuring out how to sell it to upgrade, renting it would surely be much simpler and quicker, right?

In Vietnam, there are many people who upgrade their phones whenever Apple releases new ones. I believe Vietnam is also a pretty good market for this rental service. However, there's no official word from Apple about expanding the policy, but let's stay tuned for updates.

Conclusion

Renting an iPhone may seem 'crazy' at first, but it turns out to be very reasonable for some people, especially those who upgrade their phones annually but don't want to spend a large fee all at once.

If this service were available in Vietnam, would you participate? Leave your opinion in the comments below. Thank you for reading the article.

Don't forget that at TopZone, you'll always find a wide range of Apple products to experience, along with enthusiastic consultants.

If you're interested in Apple products, especially iPhones, then head to TopZone for the best shopping experience, or you can also place orders through the website using the orange button below.

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