PSA: If you wanted to trade in an iPhone to lower the monthly cost of the iPhone 11/Pro, be aware that this does not apply for the iPhone Upgrade Program
Apple rolled out last year a program to finance a new iPhone in a 24-month payment plan. This plan doesn’t have AppleCare+ bundled with it, and you don’t have an option to upgrade with Apple every year. This has not been picked up by any media (and not even posted to this sub) from what I’ve seen. The option basically works like a carrier financing plan, in a summary.
This program doesn’t have its own page so it’s super easy to confuse the two. Even when you look up “iPhone Payment Plan” on Google, the first result yields the Upgrade Program. Here is the [ToS for the program](https://www.apple.com/legal/sales-support/iphoneinstallments_us/)
Now, during the event, Apple put up some prices for the new iPhones if you trade in an iPhone X (for iPhone Pro models) , or an iPhone 8+ (for iPhone 11), they even included a monthly payment option in there for perspective. The catch here is that this trade in offer is for the program I described above, not the iPhone Upgrade Program.
Even media outlets like [9to5Mac](https://9to5mac.com/2019/09/10/free-iphone-11-financing-apple/) are thinking that the trade in offer works for the Upgrade Program. It does not. If you want to trade in your phone, you can do that at the Apple Store for a Gift Card.
The good news is that if you accidentally signed up to get pre-approved for the new iPhones with a trade in, and you wanted to sign up for the upgrade program like me, Apple can delete your pre-approval (you can talk to them via iMessage) and you can apply again **without a second hard inquiry on your credit report**.
Now to figure out what to buy with a $400 gift card…